Auburn University President Chris Roberts and dozens of other campus leaders and supporters gathered Friday to celebrate the official naming of The Winchester Institute for Real Estate Development and to honor Greg and Jan Winchester for their generous gift that made the institute possible.

Friends, family and Aubie also were on hand for the festive reception and ceremony, which took place in Horton-Hardgrave Hall where the institute will operate.

“The newly named Winchester Institute for Real Estate Development will enable Auburn to become a nationally recognized hub for exceptional real estate instruction and leadership,” Roberts said as he thanked the Winchesters for their vision and support.  

The real estate mission

Real estate development is a sprawling, complex endeavor where the potential for success and the risk of failure are seen by experts as equally great. To address this complexity and promote the industry, The Winchester Institute builds on the multi-faceted resources of the Harbert College of Business and the College of Architecture, Design and Construction.

The Winchester Institute offerings are tailored to a variety of audiences, from seasoned professionals to undergraduate students. The Winchester Institute impacts real estate development through an active connection with industry, relevant and practical educational offerings, and academic and applied research.

“The Winchester Institute is a quintessential example” of the type of philanthropy and support leadership that Auburn needs and appreciates, Roberts said. “I can’t tell you how much we appreciate this...and we’re so proud of you.”

A world-class institute

Founder Greg Winchester has almost 40 years of experience in banking, finance and real estate, with involvement in the portfolio management of more than $225 billion of loans and real estate investments. 

He is the CEO of Summit Investors, which invests in North America and Europe and provides advisory services to development companies. Previously, he was Co-CEO of Trimont Real Estate Advisors, a company that provides customized financial services for commercial real estate lenders and investors.

Winchester over the years has served Auburn in a variety of roles, including as a member of the  Auburn University Foundation Board of Directors and as chair of the Auburn Master of Real Estate Development Advisory Board.

“It’s an honor and privilege for Jan and I to be here this afternoon,” he said. “Never did we dream that we would be part of the formation of a world-class real estate institute at Auburn University, so we consider ourselves wonderfully blessed.”

He praised the teamwork and commitment of staff and others, including the visionary leadership of faculty, past and present.

“Whenever I return to campus to work on various activities for Auburn, I get a smile on my face and realize how fortunate we are to be a part of Auburn University. War Eagle,” Winchester said.

Regarding why he and his wife decided to give back to Auburn, “we discovered very early in our marriage we were both passionate about generosity. We feel like this is a wonderful calling that God has had on our lives, and it’s been an amazing journey for both of us,” he said. “Being able to give back to the industry, and Auburn, which has provided so much for our family, is something we are grateful and excited to do.”

“We cannot think of a better way to reinvest in both the industry, and the university which we love,” Winchester said. “The institute will prepare future generations for a career in real estate, which will impact the families and communities in our country.”

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“Over a 35-year period I unexpectedly had a front-row seat in the clean-up of over $30 billion of problem-distressed assets...[including] the collapse of the industry in the late 80’s, early 90’s, due to rampant speculation and overbuilding and then the unforgettable Great Recession of 2008-09, which took our financial system to the brink...In hindsight, it’s now clear to me that many of these financial disasters and crises could have been mitigated or eliminated with better academic training, industry engagement, and research. Instilling and passing on the much-needed values and ethics of the Auburn Creed to future generations of real estate professionals is definitely needed." - Greg Winchester

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Living the Auburn Creed

Winchester said he has observed first-hand how the institute can help families and communities.

“The real estate institute will impact an industry which needs to continue to advance in the areas of education and professionalism. Half of my career was spent surviving and plowing through four unforgettable economic downturns in the real estate industry,” he said.

“Over a 35-year period I unexpectedly had a front-row seat in the clean-up of over $30 billion of problem-distressed assets. This included the collapse of the industry in the late 80’s, early 90’s, due to rampant speculation and overbuilding and then the unforgettable Great Recession of 2008-09, which took our financial system to the brink. These downturns oftentimes had a calamitous impact on careers, families, and institutions.

“In hindsight, it’s now clear to me that many of these financial disasters and crises could have been mitigated or eliminated with better academic training, industry engagement, and research. Instilling and passing on the much-needed values and ethics of the Auburn Creed to future generations of real estate professionals is definitely needed. It will positively impact not only them, but the industry as a whole,” Winchester said.

“No longer is real estate a profession that can be simply learned through the apprenticeship model or trade associations. The risks and rewards are too great to allow otherwise, and we need to dramatically reduce ill-conceived projects and endeavors,” he said. “We all need to embrace and encourage smart developments which create thriving communities and great cities. The Institute can lead the way for the industry toward these worthy goals.”

‘For the sake of others’

“Coming into a new job can be very awkward,” said John Benner, the first executive director of The Winchester Institute. “However, that’s not been the case for us because of the Winchesters,” he added, referring to himself and his wife, Lana.

“Those of you who know them know how humble they are, which is so valued here at Auburn University,” he said. “They have encouraged us by their desire to give back, for the sake of other people’s success.”

Nodding toward the Winchesters, Benner said, “Your selfless ambition is something the world doesn’t see enough of anymore, and I just want to thank you.”

Benner added: “Rest assured; any continued effort you apply toward this institute will always be welcomed.”

Auburn Provost Vini Nathan, who played a pivotal role in laying the groundwork for the institute when she served as dean of the College of Architecture, Design and Construction, also shared praise for the Winchesters and for those involved in the visionary effort to establish the institute.

Already on the move

The Winchester Institute will be developing several professional courses in response to market needs.  Four already under development are Real Estate Development Financing, Mixed Use Master Planned Communities, Hospitality Real Estate, and Affordable Rental Housing.

Currently, degree programs are available with the Master of Real Estate Development, the Undergraduate Minor in Real Estate Development; and an Undergraduate Concentration in Real Estate Development is available to Finance majors.

Institute funding also supports nationally and internationally renowned real estate scholars on campus.

The Institute’s engagement efforts include the CityBuilders program, which brings together leading real estate professionals, scholars and students to share insights, best practices, and to network and explore timely, relevant issues. 

CityBuilders initiatives throughout the year include hosting a symposium and CityTalks, which involves guest speaker events.

“We would like to challenge everyone here today to help us advance The Winchester Institute to become the premier real estate institute in the nation in the next 10 years,” Winchester said in his closing remarks.

“Specifically, we’d like for our CityBuilders annual symposium to become a nationally recognized event with 1,000 attendees or more,” he said. “Let’s develop and implement five new degree programs and 10 professional certificate programs. To support these worthy goals, we need to raise $15 million or more in endowed funds to ensure long-term financial sustainability.”

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Learn more about The Winchester Institute for Real Estate Development at Auburn University.

For more information on giving and support for the program, contact Executive Director John Benner.