As the first sponsor of Project Destined in the Twin Cities, Northmarq will provide mentorship to underserved students who are the future leaders of the CRE industry
MINNEAPOLIS, September 26, 2022--(BUSINESS WIRE)--Northmarq, a national commercial real estate organization specializing in debt/equity financing, investment sales, and loan servicing, announced its sponsorship of Project Destined. Since its founding in 2016, Project Destined has worked with more than 3,500 participants in 35 cities across the U.S., Canada, United Kingdom and Europe.
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As the first sponsor to commit its resources to the organization in the Twin Cities, Northmarq recognized and acted upon the need to bring diverse talent and backgrounds in the industry. Northmarq’s partnership will support Project Destined and its mission to provide training in financial literacy, entrepreneurship, and real estate to students from underserved communities.
"We are thrilled to officially launch in Minneapolis," said Cedric Bobo, Co-Founder of Project Destined. "Minneapolis is an exciting business and real estate market with tremendous demand for diverse talent, which is the core goal of this partnership. Northmarq, as a lead sponsor, is opening the door and supporting us in building a scaled pipeline of diverse talent in the market."
"With diversity rooted in our company’s core values of integrity, respect, and community, we couldn’t be more thrilled to help open a new market for Project Destined’s crucial work," said Jeff Weidell, CEO – Northmarq. "We believe in giving back and contributing the success of the communities in which we operate and broadening the pipeline of incoming talent is a mutually beneficial goal for Northmarq and the industry."
Project Destined leverages a work-based learning approach where students join executives to evaluate actual commercial real estate deals in their community and compete in a pitch competition to industry leaders to earn scholarships. Northmarq’s industry veterans will prepare, engage, and guide students one-on-one to help them develop a range of fundamentals—including financial, technical, presentation, and leadership skills—designed to aid them in obtaining internships, certifications, and full-time employment, launching their careers in commercial real estate.
"It is a great program because it provides a sense of community and inclusion," said Cristina Ciacciarelli, Head of Corporate Partnerships at Project Destined. "We refer to it as the Fantasy Football League of real estate. You have professionals and students working together with a shared goal of changing the sector and doing so in a fun and vibrant way. For the students, it is an exciting program that allows them to understand the basics of real estate, and the power of ownership while being surrounded by peers with similar interests, and backgrounds. As a graduate of the program myself, I can attest: it is powerful."
The program will officially launch in the fall, and will consist of the following schedule:
- Rotation 1: Market Research & Property Overview (September 26 - October 14)
- Rotation 2: Valuation & Value Creation (October 17 - November 4)
- Rotation 3: Deal Financing (November 7 - December 2)
About Project Destined
Project Destined is a leading social impact platform that provides training in financial literacy, entrepreneurship, and real estate. Project Destined partners with corporations, schools, and non-profits to deliver training using its proprietary e-learning platform and love courses. Project Destined leverages a work-based learning approach where students work with executives to evaluate live deals in their community and present them in a pitch competition to industry leaders. Scholars emerge with the skills, confidence, experiences, and networks that prepare them to secure a strong first job and become stakeholders in their community. For more information, please visit projectdestined.com.
As a capital markets leader, Northmarq offers commercial real estate investors access to experts in debt, equity, investment sales and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $33 billion, loan servicing portfolio of more than $76 billion and the multi-year tenure of our more than 700 people.
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