News Summary
The University of Alabama’s Culverhouse College of Business will enhance its real estate program with a $5 million donation, creating the Rance M. Sanders Real Estate Program. The funding will support scholarships, faculty recruitment, and develop a new undergraduate major in real estate, addressing increased student interest and industry demand. The program aims to provide hands-on learning opportunities and equip students with essential skills for a successful career in real estate.
Alabama – The University of Alabama’s Culverhouse College of Business is set to enhance its real estate program thanks to a generous $5 million donation, which will be named the Rance M. Sanders Real Estate Program in honor of notable alumni Rance M. Sanders and his wife, Angie L. Sanders. The announcement was celebrated on September 12 at Alston Hall on the university’s campus.
The funds will primarily be allocated toward scholarships, faculty recruitment, hands-on learning opportunities, and various other aspects of program enhancement. As the program evolves, it will introduce a new undergraduate major in real estate while continuing to offer an existing minor.
Dean Kay Palan of the Culverhouse College of Business expressed that the donation is crucial for advancing the real estate program to meet growing student interest and industry demand. Over the past five years, there has been an impressive 300% increase in students choosing to pursue a real estate minor within the college.
The newly developed major will equip students with essential skills in various facets of real estate, including development, purchasing, selling, leasing, appraising, and management. Students will have opportunities for experiential learning through company visits, internships, student trips, and engagement in real-world applications related to real estate operations.
Rance Sanders, who serves as the president and CEO of Sanders Trust, LLC, a healthcare real estate firm operating in 30 states, has more than 40 years of experience in the Birmingham real estate community. Notably, Sanders is also a member of the University of Alabama’s President’s Cabinet and sits on the board of the 1831 Foundation. He previously established the Rance M. Sanders Endowed Real Estate Scholarship in 2007, which currently aids six students each year with approximately $7,500 each in financial support.
The $5 million donation is considered unrestricted, allowing flexibility for the program director to utilize the funds strategically based on the program’s evolving needs. Rance Sanders expressed his gratitude for the program being named in his honor and emphasized the significance of giving back to future generations of students.
In conjunction with this donation, the Rising Tide 2.0 Capital Campaign has achieved remarkable success, raising over $1.8 billion for higher education initiatives in Alabama. This campaign underscores the increasing commitment to educational advancement and financial support for universities across the state.
Throughout his career, Rance Sanders has consistently demonstrated the core values of preparation and perseverance, principles that resonate strongly with Dean Kay Palan. She noted the essential role of empowering students through education, reflecting the enduring impact that this new program aims to have.
This significant enhancement to the real estate program not only aims to prepare students for successful careers in a competitive field but also seeks to foster a supportive and innovative educational environment at the University of Alabama.
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