The W. P. Carey Foundation has committed $25 million to Arizona State University’s (ASU) W. P. Carey School of Business, bringing its total contributions to over $100 million. This significant investment will enhance ASU’s real estate programs by launching an undergraduate real estate degree in fall 2025, expanding the W. P. Carey Center for Real Estate and Finance, and establishing an experiential learning lab dedicated to real estate. The funding will also provide dedicated space for these initiatives and attract top-tier faculty specializing in real estate research and practice. 

ASU President Michael M. Crow emphasized the pivotal role of real estate in Arizona’s economic development and expressed gratitude for the foundation’s generous support, which will expand programs that serve both real estate practitioners and the wider community. The Carey family’s long-standing relationship with ASU dates back to 1885 when John Samuel Armstrong, the grandfather of William (Bill) Polk Carey, played a key role in establishing the precursor to ASU. 

William P. Carey II, chairman of the W. P. Carey Foundation, highlighted the foundation’s commitment to advancing real estate education and research, noting that the new center will build on existing programs and foster collaboration between academics, industry professionals, and students. The center will also focus on increasing access and inclusivity within the industry. 

Ohad Kadan, Dean of the W. P. Carey School of Business, underscored the importance of this partnership, stating that it positions the school’s real estate program among the nation’s best. The foundation’s support will also establish the W. P. Carey Distinguished Chair in Real Estate and Finance, further enhancing ASU’s ability to attract leading faculty and strengthen ties to the real estate community. 

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