When Dr. C. Kat Grimsley walks into her Financial Modeling (FIN 418) class at Gies College of Business, she brings a world of experience and a palpable excitement for the subject. Her unique background combines both private sector investment experience and multi-faceted international real estate procurement and development with a dedication to education. Among her career experiences prior to joining the University of Illinois as a clinical assistant professor in 2023, she held a unique position at the US Department of State Bureau of Overseas Buildings Operations (OBO) where she navigated the complexities of securing real estate overseas in both the global North and South, for the development of new US Embassies and Consulates.

As part of her ongoing professional service contributions, Kat continues to work with the State Department as a peer of OBO’s Industry Advisory Group, as well as being vice-chair of the United Nations Economic Commission for Europe’s Real Estate Markets Advisory Group. She is also a graduate of Gies College of Business, and she’s back on campus with her Illini pride and the real-world experience needed to energize and engage with her students. 

Kat's approach at Gies is marked by a desire to immerse students in the multifaceted world of real estate.

"There are significant opportunities in areas like real estate investing, site procurement, development projects and more," she said.

She believes that understanding these opportunities can empower students to carve out successful careers in the field. Kat’s Financial Modeling class is more than just lectures and textbooks; it’s a hands-on exploration of building financial models for real estate investments, including intricate tasks like creating a construction draw schedule or modeling the “waterfall” of returns distributed to different tiers of equity partners. This semester, students also delved into  the topic of sustainable net-zero building development, reflecting the industry’s growing commitment to forward-thinking and environmentally conscious real estate practices.

Venturing into a New Build

In March, Kat brought real-world experience into the classroom by taking her students on a hard hat tour of Steven S. Wymer Hall, a new building under construction at Gies. Before the tour, she organized a panel discussion featuring university and industry experts, including Doug Reddington, Associate Director for Capital Delivery Real Estate Services; Chris Dillion, President of Campbell Coyle; and Arlene Vespa, Capital Construction and Building Project Manager for Gies Business.

Among the eager students in attendance was Christian Krull, former co-president of the Rho Epsilon Student Real Estate Association and recent Gies graduate.

"The panel discussion and tour of Wymer Hall gave me a real sense of all the moving parts involved in such a big project,” Krull said. “When the university approves a new build, there are several years of work to be done before it breaks ground. It was neat to be able to hear from panelists about that process and see all the progress made at Wymer."

The Real Estate Finance Academy

The opportunities in the world of real estate extend beyond the classroom and into the Gies Business' Real Estate Finance Academy, run by director Seth Briggs. Designed to help students explore their passions for real estate, the academy offers the freedom to customize education in a way that aligns with unique career goals. It’s an intentionally designed five-semester program providing high-achieving students with specialized courses, additional extracurricular programming, and powerful networking opportunities to jumpstart purpose-driven careers in commercial real estate.

"Building your network is crucial in this field," Kat emphasized. "The academy helps students make these connections, providing them with invaluable industry contacts."

Real estate is widely recognized as the world’s largest investment asset class, and the industry includes hundreds of University of Illinois alumni who remain closely connected with the university and Gies College of Business, including professor C. Kat Grimsley.

Taking the Next Step at Gies College of Business

Students in the Real Estate Finance Academy participate in a rigorous program designed to deliver a highly specialized, impactful real estate education. Starting in the spring of their sophomore year, students work their way through classes like Fundamentals of Real Estate (FIN 241), Financial Modeling (FIN 418) and Real Estate Investment (FIN 445). Over their final two years, they participate in additional weekly sessions, work internships with top-performing firms, and engage in active learning experiences such as case competitions and practicum projects. Upon completion, students can expect to pursue real estate private equity, investment banking, investment management, consulting, public securities or real estate development, and brokerage or asset management.

Admission into the academy is highly selective, with interested students applying during the fall of their sophomore year. For more information, students are encouraged to contact Seth Briggs, adjunct instructor of finance and Director of the Real Estate Finance Academy, at sbjr@illinois.edu.

For Kat, this is exactly the kind of engagement she hopes to foster.

"This is a growing program with tons of exciting opportunities for business students," she said with a smile. "And it's not just about taking classes. Being part of the Real Estate Finance Academy gives students an up-close and personal look at the extensive processes involved in real estate and allows them a unique opportunity to connect with local and national industry members in sectors they may not have ever been exposed to."

The vision for the real estate program at Gies is clear: it’s intended to create a space where students can explore every facet of the industry, from the financial intricacies to the tangible realities of construction projects. With their leadership and passion, C. Kat Grimsley and Seth Briggs are not just teaching real estate investment – they are inspiring the next generation of real estate professionals to think big, aim high, and transform the landscape of the industry.