A partnership between Morehouse College and real estate logistics company Prologis is aiming to foster the next generation of real estate tycoons.
Morehouse, the only HBCU dedicated exclusively to Black men, received a $3 million gift from Prologis for the establishment of an endowed fund aimed at expanding opportunities for Black students at the school to study and pursue careers in real estate.
“On behalf of Morehouse College and the Board of Trustees, I’d like to thank the Prologis Foundation for investing in the Morehouse Real Estate Institute and helping the college to expand its academic pathways into growth industries,” said Morehouse President David A. Thomas, Ph.D in a press release.
Thomas adds: “This partnership with Prologis is an important step toward improving diversity in commercial real estate ownership and leadership. The Morehouse Real Estate Institute will become a talent pipeline that will prepare rising Morehouse Men and Atlanta University Center students to compete for top jobs as future real estate agents, brokers, executives, and entrepreneurs.”
The U.S. Bureau of Labor Statistics reports that just 10 percent of real estate brokers and other professionals in the space are Black and 82 percent are White. This partnership aims to disrupt this vast disparity.
“We are excited to partner with Morehouse College in the creation of its Real Estate Institute,” said Hamid R. Moghadam, Prologis co-founder, chairman and CEO in a new release. “We take our leadership role in this industry seriously and believe that this collaboration will help cultivate a diverse pool of talent to the benefit of the entire commercial real estate industry.
“We are grateful to Prologis for its investment in the future of rising Morehouse Men,” adds Hodan Hassan, Vice President of Advancement at Morehouse College. “We are looking forward to creating a strong and long-term partnership that will help grow diversity in the real estate industry and increase equity within the ranks of management and ownership.”