Stath Karras

Stath Karras

University of San Diego’s School of Business Administration has named Stath Karras as the new executive director of the school’s Burnham-Moores Center for Real Estate, effective Jan. 19.

Karras, currently executive managing director in the San Diego office of brokerage company Cushman & Wakefield Inc., will succeed Mark Riedy, who announced his pending retirement from the post earlier this year. Riedy, a nationally recognized real estate economist and professor, founded the university’s real estate program in 1993 and is retiring on Jan. 15.

USD officials said Karras has been an active member of the Burnham-Moores Center’s policy advisory board executive committee since 2003. Karras previously was the long-time CEO of locally based Burnham Real Estate Services before its acquisition by Cushman & Wakefield in 2008.

He is also past chair of the San Diego Regional Economic Development Corp. and continues to serve on the organization’s board of directors.

“It is a change of pace and perspective for me and will be a wonderful career opportunity,” Karras said in a statement issued by USD, noting that he was honored to succeed Riedy.

Riedy said Karras is “100 percent committed to advancing the quality of USD’s real estate program and expanding its reach locally as well as globally.”

Named for businessmen and philanthropists Malin Burnham and John Moores, the Burnham-Moores Center provides education and support services to students and the local real estate industry. Its offerings include a master’s degree program in real estate, and it also hosts industry conferences and provides research and leadership training.

David Pyke, dean of the USD business school, said the selection of Karras should translate into “continued growth in the industry’s strong support for the Center,” and expansion of interdisciplinary activities involving the real estate program and other USD departments.