Five decades ago, the commercial real estate industry was poised at the transition of private ownership and wildcatter developers to become a global, public, professionalized industry with increasingly complex ownership and financial structures. Early leaders of CCIM Institute, such as Victor Lyon, CCIM, and Jay Levine, CCIM, provided nationally accepted standards for measuring real estate investment returns utilizing time value of money concepts including the internal rate of return. By the early 1970s, IRR was written into all the CCIM designation core courses led by Stephen Messner, PhD, who was then at the University of Connecticut in Mansfield, Conn.
During the 1970s, IRR paved the way for commercial real estate professionals to navigate momentous changes such as the development of regional shopping centers, chain hotels, and suburban planned communities nationwide. Real Estate Investment Trusts began replacing real estate syndications as the premier public ownership structure for commercial real estate. Even 50 years later, IRR is one of many practical, crucial methods to manage the increasing complexity within the industry.
During 50 years of entrepreneurialism, exuberance, and excess, CCIM Institute has been a powerful presence, and CCIM designees remain stewards of the highest values of professionalism and ethics.
This year's Golden Anniversary celebration kicked off at the 2017 Midyear Governance Meetings at the Fairmont Chicago.
Download the slides from the 50th Anniversary Celebration:
Commercial Investment Real Estate will be digging into the history of CCIM Institute and the people who helped make it happen.
CCIM chapters train leaders, promote knowledge, and enhance members' referrals.
How CCIMs shaped the industry during revolutionary changes in the late 1960s and 1970s.
Web Exclusive - This white paper was written and presented by John M. "Jack" Peckham III, CCIM #359, at the CCIM 50th Anniversary Celebration on April 2 in Chicago. He compared business practices when the Institute was born in 1967 with today's techno-centric business. Peckham then gave an update of "predictions" he made about the use and impact of technology on CRE during a CCIM Conference presentation back in 1995 at Copper Mountain, Colo. Last, Peckham launched into his vision of the real estate world in the year 2030.
2017 CCIM Institute president Robin L. Webb, CCIM, looks ahead to a year of celebration.
Q&A with John "Jack" Peckham, III, CCIM.
Web Exclusive - Originally written in 1988, this article by Jim Bowman provides insight into the first 20 years of CCIM Institute.
Web Exclusive - Written in 1989 by Tom Morris, who served on the CCIM Institute staff when he wrote this history of the organization to celebrate its 20th anniversary. This piece tells a technical and detailed story of the founding of CCIM Institute.
For five decades, CCIM Institute has been led by volunteers who have shaped the organization and industry.