Acquiring talent: look to universities: Reggie Samuel, a graduate of the Residential Property Management program at Virginia Tech, is "making an impact" as Director of Acquisitions for Equity Residential.

Making decisions that count--those that truly have an impact on a person's everyday life--is a goal that is not uncommon among college graduates. But to be in that position, particularly at such an early stage in a professional career, is something that Reggie Samuel, 26, is realizing now as Director of Acquisitions for Equity Residential.

Samuel is a 2001 graduate of the Residential Property Management (RPM) program at Virginia Tech. There, he earned his RPM degree and learned the fundamentals of real estate management, from developing people skills and managing a staff to recognizing sound investment opportunities.

RPM graduates today have never been in greater demand from Virginia Tech and other four-year degree programs, but Samuel wasn't hired right out of school to such a lofty position with a major REIT. His first full-time job in 2001 was as Assistant Manager, supervising a staff of approximately 22 employees at Skyline Towers, a 939-unit high-rise community in Falls Church, Va., then owned by Archstone-Smith.

Nearly two years later, when Skyline Towers was put on the market and sold to Fairfield Residential, Samuel was able to witness the process first hand.

"It was a very exciting and intense process," Samuel said. "I enjoyed sitting at a table with some of the smartest individuals in our industry, discussing large dollar figures. It immediately became obvious that these guys were making important decisions that would have a direct impact on our shareholders. I knew then that I wanted to be involved in the investment aspect of our industry."

To enhance his knowledge of real estate finance, Samuel left Archstone-Smith to pursue a master's degree in urban and regional planning at Virginia Tech. A year into the two-year program, he participated in an internship program with Equity Residential as a Development Analyst. Upon completing the internship in August of 2004, he accepted a full-time position with Equity as an Acquisition Analyst out of its Boston office. While in Boston, he continued to work toward his master's degree by taking night courses at Harvard University's Extension School.

Focus on the Big Picture

In November 2005, Samuel was promoted to Director of Acquisitions, working from the Tysons Corner, Va., office, about 12 miles outside Washington, D.C. He continues to earn credits toward his master's degree by taking night courses at Virginia Tech's satellite campus in northern Virginia, and is two courses shy of gaining the advanced degree.

As Director of Acquisitions for Equity, Samuel focuses on underwriting and deal sourcing; last year, he was directly involved in acquiring more than $1.4 billion in multifamily assets and closed on approximately one transaction per month. Samuel said he generally meets with brokers and owners approximately three times a day.

"Essentially, I scout around for attractive opportunities," Samuel said. "Once those opportunities are identified, my job is to produce asset valuations and realistically project the income and expenses on a go-forward basis, convey that information to our Senior Vice President and produce an investment committee board package that is presented to the committee for approval."

Alexandra S. Jackiw, CPM, President of Buckingham Management, Indianapolis, taught the Managing Real Estate as an Investment course Samuel took at Virginia Tech. Jackiw is Vice President of the National Apartment Association Education Institute (NAAEI).

"He was an excellent student who applied himself and asked good questions," Jackiw said. "Even then, Reggie was focused on the 'big picture' and was eager to learn as much about the business as he could. Equity is lucky to have him."

Samuel said that at Virginia Tech he learned the terminology of the industry and was able to network with industry professionals through the school's job fairs and advisory board meetings.

"I look back and appreciate that we were required to participate in an internship before obtaining our degree," Samuel said. "Having direct exposure to the everyday decision-makers in the industry is a great benefit. Being able to hear their stories about what it's like to work in the apartment industry is valuable, and getting on-the-job experience is extremely important."

Virginia Tech students have the opportunity to meet twice a year with members of the university's advisory board. It is in those settings that students can make connections and ultimately become more marketable when seeking full-time employment.

The Importance of Designation

Samuel acknowledges that there is a shortage of management talent in the apartment industry, but "having your [NAAEI Certified Apartment Manager] designation on your resume says a lot in our industry. When I'm in the position to hire, I'll smile on the fact that someone has obtained a CAM designation."

Rosemary Carucci Goss, Ph.D., RPM Advisory Board Professor at Virginia Tech and a member of the NAAEI Board, said one reason she finds teaching so rewarding is watching the development of young people like Samuel. "I was thrilled to learn that he was now Director of Acquisitions for Equity Residential," Goss said. "And the great thing about this story is there are lots of 'Reggies' in the industry who have graduated from Virginia Tech, as well as from other residential property management programs."

Paul R. Bergeron III is NAA's Director of Communications. He can be reached at 703/5I&6141 Ext. 137 or [e-mail].