LaSalle Investment Management announced the establishment of the LaSalle Real Estate Scholarship for Black and Latino/a Minorities. The scholarship program establishes a five-year, $100,000 per year commitment to provide rising black and latino/a college sophomores the opportunity to receive $10,000 toward their education.
“It is our strong belief that racial and all other forms of diversity at all levels of our organization, and in society at large, will lead to a better future,” said Jason Kern, LaSalle chief executive officer of the Americas. “As a whole, the real estate and financial services industry has lagged its peers, but at LaSalle we pride ourselves on being at the forefront of positive, meaningful change in the diverse makeup of our industry.”
It will also include programmatic mentorship meetings with LaSalle executives designed to educate the scholarship recipient on careers in real estate investment management and the real estate industry in general. The ultimate goal of the program is to provide the recipients with the opportunity to apply for an internship at LaSalle, and with the express objective of being well-prepared to seek opportunities for full-time employment in the real estate sector upon graduation.
LaSalle is initially partnering with four academic institutions, including some of the top Historically Black Colleges and Universities (HBCU) in the U.S.: Roosevelt University, Morehouse College, Spelman College and Florida A&M University. LaSalle plans to expand its partnerships with HBCUs and other academic institutions in the years ahead.
“Providing black and latinx students the opportunity to gain exposure to real estate and financial services professions at a young age is critical to expanding their career opportunities,” said Alfreda Delle, deputy portfolio manager of LaSalle Property Fund. “These professions have historically not been seen as accessible to these populations, and with this scholarship, we’re putting the institutional strength and resources of LaSalle behind an effort to change that.”
Students who receive the scholarship will have a minimum 3.0 GPA and will be required to attend four quarterly meetings, either virtually or in-person, including an investment committee meeting and a quarterly townhall. Additionally, each student will be matched with a senior leader of the firm, who will provide mentorship and help guide them through an introduction to the real estate profession.