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Stacy Westbay's (MBA '07) road to SMU Cox began at the University of North Texas (UNT), where she earned her bachelor's degree in criminal justice. During her time at UNT, Westbay decided that being a criminal prosecutor was not the career path she wanted to follow. Instead, she found her passion in real estate while working with JPI Partners, LLC as a part-time leasing professional.
After graduating from UNT, Westbay stayed on with JPI, where she advanced to become assistant regional manager in 2004. Over the course of an eight-year career with JPI, she gained leadership experience and grew within the fast-paced environment. She managed the operations of multimillion-dollar assets located in Texas, Colorado and Arizona. In addition, she assisted in overseeing regional teams consisting of more than 20 members and collaborated with other functional teams in development, asset management and construction.
After eight years at JPI, Westbay thought about expanding her career possibilities and eventually decided to take a leap of faith and go back to school full-time to earn her MBA. She was drawn to the Cox MBA program because it fosters learning through teamwork and real-world experiences. This was especially true in her real estate finance and development class, taught by adjunct professor Tony Dona, co-founder of a Dallas-based real estate private equity fund that invests nationally. The class was case-based and utilized actual investment opportunities that Dona had experienced in his professional career. According to Westbay, it proved to be one of the most beneficial classes she took while at Cox because of the practical way in which it was taught as well as the insights it offered about various financing techniques that should be evaluated when pursuing real estate investments.
"Not only were my colleagues and I able to benefit from Tony's first hand experiences, but Tony brought in guest speakers each week who had worked on the cases in one capacity or another, which helped to provide additional perspectives," she said.
"It taught me the importance of building a strong network within the real estate industry and the value of thinking outside of the box."
Westbay also selected the Cox MBA program because of the many leadership development opportunities it offered. While at Cox, she served as co-president of the Women in Business Club, co-chair of the 2006 full-time MBA orientation, team leader for the American Airlines Global Leadership Program in Asia, a member of the Business Leadership Center's Cox Leadership Forum and a member of the Real Estate Club. She also took advantage of the Associate Board executive mentoring program and the Texas Scottish Rite Hospital for Children consulting program. In 2007, Westbay competed in George Washington University's First Annual Real Estate Case Competition, where Cox was selected as one of six teams, from 19 entrants.
"Not only did my two-year experience at SMU Cox give me frequent opportunities to step outside of my comfort zone, but it also gave me the confidence to take on new challenges," she said. "It equipped me with the ability to effectively utilize a variety of resources, it taught me an assortment of personal and professional lessons and it allowed me to develop friendships that I will carry with me forever."
Westbay currently works as an asset manager in the multi-family division of Verde Realty in Dallas. She interned with Verde Realty part-time during the second year of her MBA program and accepted a full-time position in March 2007.
"As a result of my internship, I've got a great job with a progressive real estate developer whose founders have had substantial success in the real estate industry," she said. "In my current role, I have the opportunity to work directly with the CFO and I am fortunate enough to be involved in a wide variety of the company's day-to-day operations."
For Westbay, a Cox MBA was instrumental in enhancing her career within the multi-family real estate industry, and helping her achieve her goal of working in a financial and development capacity.
"The extensive group activities at Cox stressed the importance of teamwork and gave me the opportunity to gain additional problem-solving skills," she noted. "The diversity among my colleagues allowed me to gain exposure to a variety of cultures, reinforcing the value of relationship building and emphasizing the importance of effective communication."
As a student, the individuals she contacted via the Cox network were always very accessible and eager to help. Now, as a Cox alumna, Westbay hopes to give back by participating in alumni events and assisting students who may be interested in her career path. And based on her success, her words of wisdom should be applied.
"I would tell students interested in succeeding in real estate to seek out opportunities to meet as many people in the industry as possible, whether those opportunities evolve from Cox-related events or community-related events," she said. "I would also encourage them to network with recent graduates who can relate to their situation. And I would advise them to seek out activities, such as case competitions and leadership roles, that will allow them to gain new experiences as well as help them build their resume."
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