On April 1, USC Marshall School of Business hosted a special event to commemorate the naming of the Andrew Tavakoli Center for Real Estate, marking a significant milestone in the school’s commitment to advancing real estate education and research. Established with a $10 million gift from Andrew Tavakoli ’86, the center will leverage the school’s academic strengths, industry ties, and location in Southern California to develop a vibrant hub where students, researchers, faculty, and industry leaders can connect and innovate in the sector.

Andrew Tavakoli, CEO and Principal of Tavaco Properties was honored at the ceremony which took place at Moreton Fig. Joined by family and colleagues, Tavakoli expressed his commitment to the center’s mission of developing a cutting-edge real estate hub at his alma mater, USC Marshall.

“By bringing together industry pioneers, top professors, researchers, and innovators, we are creating more than a learning environment; we are building a place where students can collaborate, challenge ideas, and develop the insights needed to shape the future of real estate,” Tavakoli said. “With access to USC’s numerous and immense intellectual capital across its many schools and disciplines, the center will prepare the next generation of industry leaders.”

In her remarks, USC President Carol Folt thanked Tavakoli for his visionary gift and commitment to the university, while reflecting on the significance of building a real estate center in the heart of Los Angeles.

“This is a moment when people are looking forward and saying, ‘This is an area that is of great importance for people,’” Folt said. “A lot of our students would like to work in [real estate], but beyond that, it is at the core of building out our region.”

President Folt, joined by Dean Geoffrey Garrett and Provost Andrew T. Guzman, USC’s senior vice president for academic affairs, presented Tavakoli with a token of the university’s appreciation: a Tommy Trojan statuette.

Beyond the Tavakoli Center, Dean Garrett highlighted Tavakoli’s other contributions to the school. The CEO helped create the Cyrus the Great Teaching Chair in Timeless Leadership and has been a long-term supporter of the Master of Business for Veterans program at the university.

Guzman emphasized the academic priorities of the center and the benefits the hub will provide for students and alumni alike.

“This support of our teaching and research is what’s going to allow our faculty and our students to really thrive, to contribute to our understanding of real estate, to produce graduates who can go out into the world in real estate and in other fields, and do great things,” Guzman said.

Chris Parsons, Charles B. Thornton Professor of Finance and new director of the Tavakoli Center, highlighted the vital role of the real estate industry as a foundation for numerous other sectors. Parsons, who also oversees USC Marshall’s Real Estate Analytics Lab (REAL), highlighted the center’s three pillars: classroom learning, career and internship support, and research.

Building on these cornerstones, Parsons shared his vision for expanding the center’s impact.

“Almost every business school in the world offers classes in real estate, but only a small fraction feature a dedicated real estate center and fewer still are backed by the kind of resources, support, enthusiasm, and institutional legacy that allows them to truly flourish,” Parsons said. “Fortunately and thanks to Andrew Tavakoli’s generous, transformative gift, the real estate program at USC Marshall is uniquely positioned to offer its students, alumni, and business community a world-class preeminent institution that excels in all aspects — curriculum, career support, and scholarly research.”

Tavakoli also reflected on his vision for the center and his passion for giving back.

“I believe in the power of generosity. It starts with investing in yourself, then in others, and ultimately in the next generation.” Tavakoli said. “My hope is that this center will inspire all of us to learn, collaborate, and pass it forward.”