Herbert Tousley

Distinguished Service Faculty, Finance

hwtousley1@stthomas.edu

(651) 962-4263

Minneapolis Campus
1000 LaSalle Ave
Terrence Murphy Hall 331H
Minneapolis, MN 55403

B.S., Business, Colorado State University
M.B.A., , University of St. Thomas

See publications in UST Research Online

Herb Tousley is the Director of Real Estate Programs and the Shenehon Center for Real Estate at the University of St Thomas. Before coming to St Thomas he was a Senior Vice President at Coldwell Banker Commercial Griffin Companies in Minneapolis. A commercial real estate professional with many years of experience in financial management, he brings a wealth of knowledge and expertise in the operations and financing of investment properties. Mr. Tousley has negotiated the purchase of land for new developments as well as the acquisition of existing properties. He has been involved in the investment analysis, financing, acquisition, and/or development of properties with a cost in excess of $80,000,000 through the use of both private and public funding. He has also supervised the asset management of the portfolio of properties after acquisition or development. Mr. Tousley has an extensive background of experience working with multi-family, affordable housing, office, mixed use, and retail properties. He has been involved with a wide variety of financing options including; Tax Increment Financing, tax credits, housing revenue bonds, HUD financing, FNMA, and other conventional financing. Mr. Tousley has worked with cities, counties, and other government agencies to resolve zoning, density, permitting, and financing issues. He has also prepared numerous investment analyses for a wide variety of potential investments. In addition he has experience helping clients with special situations concerning commercial real estate. Services provided include workouts, loan and/or lease renegotiation, property tax appeals, and cost segregation analysis and financial modeling. As a Vice President of a mezzanine finance company, Mr. Tousley has assisted in the preparation, submission, and issuance of a $5 million Regulation D securities offering of subordinated debentures for real estate acquisitions and development. He has also been instrumental in raising capital for subordinated debt and equity for commercial real estate projects from high net worth individuals as well as institutional investors. As the Director of the Shenehon Center for Real Estate he authors and publishes the Minneapolis / St. Paul Residential Real Estate Index, the Minnesota Commercial Real Estate Survey, and the Home Builders Survey. Consulting assignments include valuation, lease analysis, financial modeling, and development advisory. Mr. Tousley has a Bachelor of Science Degree in Business from Colorado State University in Fort Collins, Colorado and an MBA from the University of St. Thomas in St. Paul, Minnesota. He is a member of Urban Land Institute, Lambda Alpha Real Estate Society, NAIOP, CoreNet and is a CCIM Institute designee. Mr. Tousley is a highly proficient user and instructor in the following commercial real estate software applications; Argus, Excel, Site To Do Business and CoStar. In addition, he holds a Minnesota Real Estate License, a Minnesota Appraisers License, and is a Certified Argus Software Instructor.

Fall 2017 Courses
Fall 2017 Courses
Crs - Sec Title Days Time Location
REAL 625 - 201 Real Estate Fund. & Practices - - W - - - - 1800 - 2100 TMH 351
Description of course Real Estate Fund. & Practices : CRN: 43018
This course provides an introduction to professional practices in real estate decision-making. The course focus is on real estate enterprise management, real estate finance, public sector relationships, property regulation, and investment decision making with particular emphasis on the activities, roles and participants involved. Topics include: real development, site selection, leasing and pricing strategies, finance options, investment analysis practices, real estate investment trusts, partnerships and asset management. -- Prerequisites: None.
Schedule Details
Location Time Day(s)
REAL 760 - 201 Investment Property Analysis - T - - - - - 1800 - 2100 TMH 351
Description of course Investment Property Analysis : CRN: 43020
Evaluating the role of financing and leverage in real estate investment analysis; identifying alternative types of financing; valuation of financial structure; sources of equity financing for real estate; mortgage securitization and the operation of secondary mortgage markets. Fitting investment strategy to context of physical property, leverage, form of ownership, income tax and management alternatives. Emphasis is on analysis of limited partnerships, trusts, corporate real estate enterprises and securitization to fund real estate. -- Prerequisites: REAL 600 or REAL 625 or permission of the Program Director.
Schedule Details
Location Time Day(s)
REAL 770 - 201 Real Estate Development M - - - - - - 1800 - 2100 TMH 351
Description of course Real Estate Development : CRN: 43021
Comprehensive property development course integrating all functional areas of real estate for the production of housing, retail, commercial, corporate and industrial real estate. Use of market research, feasibility studies and market analysis in contract negotiation for project construction, marketing and management of new and redevelopment opportunities in stable and developing markets. -- Prerequisites: REAL 600 or REAL 625 or permission of the Program Director.
Schedule Details
Location Time Day(s)
J-Term 2018 Courses
J-Term 2018 Courses
Crs - Sec Title Days Time Location
Spring 2018 Courses
Spring 2018 Courses
Crs - Sec Title Days Time Location
REAL 625 - 201 Real Estate Fund. & Practices - - - R - - - 1800 - 2100 TMH 351
Description of course Real Estate Fund. & Practices : CRN: 21981 1.5 Credit Hours
This course provides an introduction to professional practices in real estate decision-making. The course focus is on real estate enterprise management, real estate finance, public sector relationships, property regulation, and investment decision making with particular emphasis on the activities, roles and participants involved. Topics include: real development, site selection, leasing and pricing strategies, finance options, investment analysis practices, real estate investment trusts, partnerships and asset management. -- Prerequisite: None.
Schedule Details
Location Time Day(s)
REAL 630 - 201 Real Estate Info Technology M - - - - - - 1800 - 2100 TMH 442
Description of course Real Estate Info Technology : CRN: 21982 3 Credit Hours
This course is intended to provide the student with a comprehensive understanding of how to use technology in analyzing commercial real estate opportunities. The course begins with an overview of market analysis and how selected software applications can aid in decision making. Students will learn the role that market analysis plays in development, acquisitions, investment analysis, and site selection. This is followed by a comprehensive study of how software applications are used in analyzing commercial real estate opportunities and investment decisions. -- Prerequisite: REAL600 or REAL625.
Schedule Details
Location Time Day(s)
Academic and Professional Positions
  • Adjunct Instructor, University of St. Thomas, St. Paul / Mpls (2003 - present)
  • Director of the Master of Science in Real Estate Program and the Shenehon Center for Real Estate, University of St. Thomas, St. Paul / Mpls (2009 - present)
  • Sr. Vice President, Coldwell Banker Commercial Griffin Companies, Minneapolis (2007 - 2009)
  • Vice President, Omni Investment Properties, St. Paul (2002 - 2007)
  • Vice President, Hennessey Financial, St. Paul (2002 - 2003)
  • Sales Manager, Boyer Ford Trucks, Minneapolis (1997 - 2002)
  • Finance Specialist, Boyer Ford Trucks, Minneapolis (1996 - 1997)

Professional Memberships
  • Lambda Alpha International
  • Urban Land Institute

Professional Service
  • BOMA - Building Operations and Management Association,
  • CCIM - Minnesota Chapter of the Commercial Investment Real Estate Institute,
  • CoreNet Minnesota,
  • NAIOP - Commercial Real Estate Development Association,

Publications

Books and Chapters

Research Interests
  • Domestic
  • Real Estate
  • Valuations

Presentations