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Class of 2002 Alumni

10 Years in the Making: Class of 2002 Alumni

Where are they now? Learn about how your fellow alumni from the class of 2002 have grown over the last 10 years as they share the benefits of graduating from the UW Real Estate Program and the valuable lessons they've learned from their experience.


Shampa Bhattacharya, MS 2002, currently is a senior analyst at Clovis Capital, a New York based hedge fund, focused on making long/short equity investments in the financial and real estate sector. Prior to joining Clovis in July 2008, Shampa was a senior analyst at Perry Capital, another New York based multi-strategy hedge fund, from July 2002 to Dec 2007. At Perry, she was primarily focused on making long/short equity investments within the financial sector and worked as well on related credit, private equity and real estate investments. Earlier in her career, Shampa spent four years working in real estate project management and audit in India, first with DLF Universal Ltd., India’s largest land owner and developer, from 1996-1997 and then with ITC Ltd., one of India’s largest conglomerate and a premier hotel chain owner, from 1997-2000.

Shampa has a Bachelor in Architecture from Jadavpur University, India, a Masters in Building Management from School of Planning & Architecture, India, an MS in Business from the University of Wisconsin-Madison, and is a CFA charter holder.At UW, Shampa pursued an MS in Business with a concentration in Real Estate. She was also part of the ARESAP program in her second year working with the UW ASAP program making equity REIT investments for the fund.

Greatest Benefit of the UW Real Estate Program
"Among the many valuable things that I learned from the real estate program, perhaps the most influential one was the exposure to the high quality research that was being conducted and published by the department. It instilled a focus on independent thinking, disciplined data gathering and quantitative analysis that help me in my work every day."



Tom Shepherd, CCIM, BBA 2002, began his career with Inland Companies, Inc. in 2002 as an Industrial Broker. His success, work ethic, and quick knowledge of the industry accelerated his position in the company to Partner, leading the Investment Sales and Private Client Group. Over the last nine years, Tom has brokered the sale of over $300 million in investment-grade industrial, office and retail properties. He works with private and institutional clients to maximize value on their commercial investments. Some of Tom’s clients include CenterPoint Properties, First Industrial Realty Trust, GE Asset Management, ING Clarion, Real Estate Recycling, HSA Commercial, Patterson Dental, Transwestern and M&I Bank. Tom’s prior experience in commercial real estate includes working at Marshall Erdman & Associates, Inc., Madison, where he executed real estate asset pro-formas, acquisition, disposition and re-development analysis for their corporate real estate group.

Greatest Benefit of the UW Real Estate Program
"The relationships that I made at school and that I continue to nurture have been the largest benefit of the Program. In my nearly ten years in the business, I have sold several large investment properties to fellow UW real estate alumni. I continue to take my new listings to alumni for initial underwriting purposes and for their opinion on value. I can always count on fellow Badgers to give me straight forward advice on transactions.”

Lessons Learned From My Experience
"I’ve learned to actively develop relationships by staying visible and involved in local real estate organizations. I am a member in WREAA, CARW (Commercial Association of REALTORS Wisconsin), and CCIM. I was nominated for executive board positions at both CARW and CCIM and I enjoy the time I spend with my peers promoting our industry through those groups.”

Amongst his awards, Tom received the CARW Investment Deal of the Year Award in 2008, 2009 and 2010.



James N. Graham
, JD, MS 2002, is an attorney and owner of Accession Law LLC of Madison, Wisconsin. His company focuses on real estate matters including residential transactions, commercial transactions, land use, easements/covenants/restrictions, foreclosure, condominium law, and construction law as well as related litigation. He is licensed to practice before State of Wisconsin Courts, Eastern and Western District of Wisconsin Federal Courts, and Seventh Circuit Court of Appeals. James maintains a Wisconsin real estate broker’s license in addition to a law license, and he is a real estate investor as well.

James’ relationship with the UW real estate program began while he was an associate attorney at a construction litigation law firm. He had several clients who were real estate developers who needed a more careful and sophisticated approach to their projects on the front end (before they needed assistance with litigation). James began looking for ways to expand his knowledge of real estate as an investment class and was pleased to learn about the world-class program at the University of Wisconsin Business School.

Greatest Benefit of the UW Real Estate Program
"Upon completion of the MS degree in business from the department of real estate and urban land economics in 2002, I began my own law office. My business school education gave me not only the desired real estate finance and development education but also the general business background in marketing, human resources, accounting, and computer skills that made it possible to start a new business."

Lessons Learned From My Experience
"As an attorney, I see myself primarily as a problem-solver. My role often is to see and properly assess risks and to alert clients to ways in which to hedge against those risks. In doing so, I rely upon a key concept which was emphasized by the UW real estate finance courses - the risk-adjusted return. Too often, those involved in real estate projects focus on the returns without properly considering the relationship between the associated risks."

Amongst his affiliations, James is active in the Rotary Club of Madison West, the Mt. Vernon Park Association, the Madison Area Builders Association and the Wisconsin Builders Association.

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