John R. Carmichael III ’73, of Dallas, recently pledged a $1 million estate gift to enhance real estate programs at Mays.

His gift establishes the John R. Carmichael III ’73 Real Estate Excellence Fund, which will support the faculty and administration of such programs as the Master’s of Land Economics and Real Estate, housed in the Department of Finance.

“John’s extraordinary generosity will have a marked impact on our ability to prepare future leaders for the real estate industry,” says Dean Jerry Strawser. “In addition to the financial impact of his gift, his own experiences and success provide a stellar example for our students as they begin their own careers.”

Carmichael is co-founder and president of Plano-based Westwood Residential, a multifamily housing investment, development and operations firm that oversees $500 million in assets from Texas to California. The 1973 finance graduate spent two decades in real estate management with Trammell Crow Company, eventually becoming partner for the West Coast region. He formed his own residential real estate business in 1992. He has two Aggie daughters: Taylor ’04 and Meredith ’06.

“I want to support the dean and program director as they advance real estate education,” Carmichael says. “We need to encourage some of the best people to get into real estate and to really be prepared to enter the field.”