Project REAP (Real Estate Associate Program), the national diversity in commercial real estate initiative, announced leadership changes, electing Michael P. Kercheval, former CEO and president of ICSC, one of the world’s largest commercial real estate (CRE) industry associations, chair of the board. He succeeds G. Lamont Blackstone, principal of his eponymous consulting firm, who has been named acting executive director.
Kercheval is also the former executive director of the University of Colorado at Boulder’s Real Estate Center which launched REAP’s Advanced Learning program in 2022, offering in-depth study to accomplished REAP alumni as a follow up to their REAP Academy training. Kercheval holds a Ph.D./A.B.D. and a master’s degree from Columbia University and a B.A. from the University of Colorado at Boulder. He has served on its board since REAP’s inception.
“Prioritizing diversity, equity and inclusion, commonly referred to as DEI, throughout CRE and in all sectors of corporate America has been conclusively proven to significantly bolster the bottom line for the firms that strategically implement it into their planning and operations, which transfers into improved outcomes for the economy overall,” Kercheval said. “We are at a critical juncture today as we, sadly, witness a downward trend in many of those efforts. My hope is that those able to take immediate action to reverse this decline do so before the impact on CRE and the entire economy suffer.”
Blackstone is an award-winning leader in CRE working with developers, housing authorities and nonprofits on retail, hospitality and mixed-use developments and has served as REAP’s chair for 10 years. Blackstone has been appointed acting executive director of REAP following the transition of Manikka Bowman, former executive director, to another organization. He will serve in the role of acting executive director while the board undertakes a search for a permanent replacement.
Blackstone was a past volunteer faculty advisor for Project REAP and holds an MBA from the Wharton School at the University of Pennsylvania.
“We are fully aware of the challenges facing us in this social and economic climate which make us enthusiastic to welcome Mike as chair. Mike spurred the growth of ICSC and turned it into one of the most impactful voices in the CRE sphere — leadership that has continued under his successor,” Blackstone said. “We anticipate that he will apply the experience, insights and relationships he garnered in that role — and at the University of Colorado — to foster REAP’s continued growth and development.”
Jimena Sayavedra, an industrial real estate specialist with Newmark in Chicago, has been elected REAP vice chair. Sayavedra serves on the Advisory Board of the Urban Land Institute Women’s Leadership Initiative, co-chairs the ULI Chicago DEI Committee and is a board member of Women in Industrial Real Estate. She has volunteered as a director and president of the Argentina Chicago Foundation, which builds and renovates schools in her native country. She holds an M.S. in urban planning from the University of Illinois and a B.A. from the Universidad de Buenos Aires.
Erica-Nicole Harris, vice president of real estate development with Wispark Operations – WEC Energy Group, greater Milwaukee, has been re-elected REAP vice chair. Harris is also a director for the nonprofit economic development organization Milwaukee Development Corporation, where she advocates for and advises on financial support of emerging developer projects. She holds a B.A. magna cum laude from Mount Mary University and is a vice chair of the board of trustees.
Khalid Rashid, a portfolio manager and managing director with Clarion Partners in Los Angeles, has been elected REAP treasurer. He holds an MBA from Columbia Business School and a bachelor’s degree from U.C. Berkeley.
Katrina Rainey, a director of site acquisition and portfolio with technology giant Microsoft, is a real estate and asset management professional previously affiliated with Walgreens and McDonald’s. She has been elected REAP secretary. Rainey holds a doctorate in law from the Benjamin Cardozo School of Law of Yeshiva University and is a graduate of Old Dominion University. Sayavedra, Rashid and Rainey are REAP alums.
