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New Endowed
Professorship at
Real Estate Center
John Bucksbaum, CEO of
one of the largest owners and
managers of shopping centers
in the U.S., is not a Wharton
alum. Nonetheless, Bucksbaum
was the
driving force
behind a recent
$2 million gift
to Wharton's
Zell/Lurie Real
Estate Center.
The Martin
Bucksbaum
Endowed
Chair in Real
Estate is named
for John Bucksbaum's uncle,
who was also not a Wharton
alum, but was an active
member of the Real Estate
Center's Advisory Board, as is
his nephew today. The chair
was established via gifts from
two Bucksbaum family foundations
and is held by Joseph
Gyourko, professor of real estate
and finance, chair of the
Real Estate Department and
director of the Zell/Lurie
Real Estate Center.
John Bucksbaum is CEO
of General Growth Properties,
a NYSE-listed company
and a member of the Real
Estate Center's executive
committee. The new endowed
chair's namesake, Martin
Bucksbaum, is credited with
helping to create the concept
of the modern shopping center
in the 1950s.
"The idea of seeking a
chair in the real estate
department came up for
discussion in an executive
committee meeting, and I
thought it would be an excellent opportunity to link
Martin's name, in perpetuity,
to the finest Real Estate Program
in the country," says
John Bucksbaum.
The Bucksbaums' non-alum
status is nothing new to
the Zell-Lurie Center, which
has a long history of benefactors
whose relationship to
the center is their only connection
to Wharton. Neither
Samuel Zell, who provided
the $10 million permanent
endowment of the center,
nor Max Farash, who funds
the Farash Distinguished
Lecture and the Max M.
Farash Real Estate Round-table,
are alumni of Wharton
or Penn.
The Zell/Lurie Center
promotes and funds cutting-edge,
scholarly research of
interest to academics, policy
makers, and real estate professionals.
Results are reported
through the Zell/Lurie Working
Paper Series, the Wharton
Real Estate Review, and other
scholarly publications.
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