Real estate investment and operating company Innovo Property Group (IPG) has established the the Innovo Property Group Scholarship Fund (The Fund), a $100,000 endowment for the Schack Institute of Real Estate within the NYU School of Professional Studies.
The endowment was established by Innovo to make annual awards in the form of tuition assistance to students at the Schack Institute with financial need who have overcome significant educational, economic, or personal obstacles. Recipients will be named “IPG Scholars” —and selected by the Institute’s associate dean or a designee.
“As a real estate investment and operating company in New York City, IPG has long had a finger on the pulse of economic trends and professional culture in the tri-state area,” said Andrew Chung, founder and CEO of IPG. “Establishing The Fund is an important part of our ongoing role in and commitment to supporting and shaping the next generation, and critical to ensuring the future of our industry is in good hands.”
“The Schack Institute is deeply grateful for this generous gift from the Innovo Property Group and Mr. Chung. The scholarship fund it has established will provide financial support for the future leaders of the commercial real estate industry,” said Sam Chandan, Larry & Klara Silverstein chair in real estate development and investment, and associate dean of the Schack Institute of Real Estate.
