UNIVERSITY PARK, Pa. — The Cocoziello Institute of Real Estate Innovation at Penn State has announced two significant philanthropic contributions aimed at enhancing its educational and research initiatives.
Rick and Susan Sokolov have contributed nearly $100,000 to create the Sokolov Family Industry Partnership Endowment. This gift, matched by the University to create an endowment of nearly $200,000, will fund research expenses, faculty and student travel, and other costs associated with bringing industry speakers to the institute for educational programming.
Rick Sokolov, a 1971 Penn State graduate and chairman of Simon Property Group, serves on the institute's board of advisers. He served as chair of the University’s last fundraising campaign, “A Greater Penn State for 21st Century Excellence,” and, along with Susan Sokolov, also a 1971 Penn State alum, he is a member of the University’s leadership council for its new fundraising campaign, and is also vice-chair of the Penn State Board of Trustees.
"We are delighted to contribute to the creation of the Sokolov Family Industry Partnership Endowment,” said Rick and Susan Sokolov in a statement. “By engaging industry experts in educational programming, we aim to enrich the learning experience and workforce opportunities for Penn State students. We look forward to witnessing the growth and innovation that this partnership will bring to the institute and the future of real estate."
Another gift has come from Lou March Jr., owner of the New Jersey-based March Construction: $50,000 to establish the March Construction Endowed Speaker Series Fund. This endowment, which is matched by the University for a total of $100,000, will support an annual speaker series focused on the future of real estate and construction. The series will feature a variety of formats, including on-campus presentations, workshops, podcasts and a video series, aiming to engage both faculty and students in discussions on emerging topics in the field.
"I am thrilled to support the establishment of the March Construction Endowed Speaker Series Fund at Penn State,” March said. “This initiative aligns perfectly with our commitment to fostering innovation and education in the real estate and construction industries. By engaging both faculty and students in meaningful discussions on emerging topics, we hope to inspire the next generation of leaders and professionals. I am excited to see the positive impact this series will have on the future of our field."
According to Scarlett Miller, director of the Cocoziello institute, the gifts will help the institute accelerate its mission to advance real estate knowledge, foster innovative research, engage industry professionals and provide leading-edge educational programs.
"These generous gifts from the March and Sokolov families will significantly enhance our ability to offer top-tier educational opportunities and foster innovative research," said Miller, who is also the Paul Morrow Professor of Engineering Design and Manufacturing at Penn State. "Their commitment supports our mission to lead in real estate innovation, preparing our students to excel in a dynamic industry."
Endowed gifts/pledges of $25,000 and up to the Cocoziello Institute of Real Estate Innovation are eligible to be matched until June 30 or until the $5 million matching pool is fully utilized. For more information about making a gift to utilize the match, contact Heather Winfield, director of campaign and university initiatives, at hbw11@psu.edu.
These endowments will ensure ongoing support for the institute's strategic initiatives, enhancing its impact on the real estate industry and beyond. Gifts to the Cocoziello Institute advance the University’s historic land-grant mission to serve and lead. Through philanthropy, alumni and friends are helping students to join the Penn State family and prepare for lifelong success; driving research, outreach and economic development that grow our shared strength and readiness for the future; and increasing the University’s impact for families, patients and communities across the commonwealth and around the world. Learn more by visiting raise.psu.edu.
About the Cocoziello Institute of Real Estate Innovation
The Penn State Cocoziello Institute of Real Estate Innovation is dedicated to advancing research and collaboration across disciplines to address the challenges facing the real estate industry. Through innovative programs and partnerships, the institute aims to develop solutions that will positively impact the built environment and promote sustainable practices. Visit the Cocoziello Institute of Real Estate Innovation website to learn more.
About Penn State
Penn State is a multi-campus, land-grant, public research University that educates students from around the world, and supports individuals and communities through integrated programs of teaching, research and service. Penn State is an R1 university, a classification given by the Carnegie Foundation for the Advancement of Higher Education to the very best research universities in America, reaching a record $1.337 billion in research expenditures during fiscal year 2023-2024. The University’s discovery-oriented, collaborative and interdisciplinary research and scholarship promote human and economic development, global understanding, and advancement in professional practice through the expansion of knowledge and its applications in the natural and applied sciences, social and behavioral sciences, engineering, technology, arts and humanities, and myriad professions. The University’s instructional mission includes undergraduate, graduate, professional, continuing and extension education, offered through both resident instruction and distance learning. Penn State’s educational programs are enriched by the talent, knowledge, diversity, creativity and teaching and research acumen of its faculty, students and staff. As Pennsylvania’s sole land-grant university, Penn State provides unparalleled access to education and public service to support the citizens of the commonwealth and beyond. The University engages in collaborative activities with private sector, educational and governmental partners worldwide to generate, integrate, apply and disseminate knowledge that is valuable to society.