CBRE Widens Path for Future Black CRE Professionals

Project Destined has joined with CBRE Group to launch a program to help Black students bridge their education to real-world experience in the commercial real estate industry.

Project Destined’s Historically Black Colleges and Universities (HBCU) Bridge Program, sponsored by CBRE, connects students with CBRE leaders and exposes them to industry career paths. 

At least 100 students from select HBCUs will receive scholarships to participate in the program each year, starting this spring. Leaders from select HBCUs will serve as academic advisors to help facilitate student participation.

“Through this program, Project Destined is empowering the next generation of Black leaders in commercial real estate by providing the tools, knowledge and resources to prepare them for rewarding careers,” Tim Dismond, CBRE’s Chief Responsibility Officer, said in prepared remarks. “Thanks to our comprehensive partnership, CBRE is gaining access to a rich pipeline of future talent from underrepresented communities of color so our workforce reflects the communities where we live and work.”

The program is part of the larger efforts in the CRE community to support diversity in the industry. 

Earlier this month, for example, Goldman Sachs announced its One Million Black Women initiative by closing a $75 million investment with the National Affordable Housing Trust to establish the Black Developers Initiative Affordable Housing Fund. The fund will finance affordable housing across the country sponsored by Black-led developers, with a focus on Black women developers.

Students Gain 40 Hours of First-Hand CRE Exposure

The six-week bridge program gives students more than 40 hours of first-hand exposure to careers in commercial real estate, including an executive speaker series with CBRE leaders, specialized workshops, and career development sessions. 

Students will focus on networking, leveraging LinkedIn, technical competencies, such as financial modeling and ARGUS, as well as interviewing, and presentation skills. Participating academic advisors will receive a fellowship stipend and collaborate with Project Destined to share program resources.

“Too many groups have felt more victim than participant in change through real estate in their communities,” Cedric Bobo, Co-founder of Project Destined said in prepared remarks. “This partnership gives us a chance to demystify real estate, create a pathway and provide the training that’s necessary. CBRE’s incredible global network will create great opportunities for these students.”

At the onset of the pandemic in 2020, CBRE launched a partnership supporting Project Destined’s 8-week virtual commercial real estate internship program. More than 350 students have been trained through the program, resulting in 76% of participants landing jobs or internships. The HBCU Bridge Program partnership is part of CBRE’s Community Impact Initiative announced in December 2021.