Project Destined

Yardi Matrix Partners

By Leah Etling on Mar 10, 2021 in Matrix

Project Destined is an organization focused on providing education and access to the commercial real estate industry for minority students. Programs are targeted towards high school and college students, with the goal of introducing real estate ownership to people who may not have previously studied or worked in the commercial real estate industry.

Yardi Matrix has provided 10 complimentary education licenses to Project Destined for use in their curriculum and internship programs. Students will have full access to Yardi Matrix’ industry-leading data and analysis to use when researching, underwriting and presenting potential deals to their teachers, industry mentors and competition judges.

Chris Nebenzahl, editorial director for Yardi Matrix, has been actively involved with Project Destined. “I have been volunteering to teach the market research segment of the curriculum and offer guidance for how students can use Yardi Matrix with the projects they are working on,” said Nebenzahl.

“I focus on our data at the property, submarket and market level. The students are tasked with creating an investor presentation and pitching their deal to a panel of industry judges. Through the process, they need to provide valuation models, market research, forecasts, and cash flow models, all of which can be developed and leveraged by using Yardi Matrix data.”

Nebenzahl began working with Project Destined in early 2020 and has lectured virtually at each session held by the organization since then.

Project Destined was started by entrepreneur Cedric Bobo to expand opportunities for minority students within the commercial real estate field and to encourage his students to become owners and community stakeholders in the cities where they live. Project Destined started 5 years ago and has grown significantly to include students in many major markets around the country.

Bobo, who grew up in Memphis, was fascinated by business as a child. He earned a degree in engineering, then attended Harvard Business School, and became an executive at Carlyle Group. He spent two decades in the industry and became inspired to improve access for all.

“Most kids think real estate is not for them. They think real estate, then they think gentrification,” Bobo told Propmodo. “I stop them from using that term. Kids see progress that is happening that they are not exposed to. You see your neighborhood changing and you’re not a participant. So how do you become a participant? It’s about access.”

“I think it’s an exceptional program that Cedric has created and developed,” said Nebenzahl. “The growth is tremendous, even in the year that I’ve been involved. I’ve seen a ton of students come back as team leaders and mentors, and the interest level in the program is remarkable. Project Destined is making incredible strides by elevating exposure and educating minorities about commercial real estate.”

Learn more about Project Destined and find coverage of all the latest Matrix reports on the Yardi Matrix blog.