Virginia Commonwealth University’s real estate program has received another seven-figure check from its biggest backer.
Real estate magnate Sam Kornblau gave the university $1 million to further fund its real estate program, the school announced Tuesday.
In 2006, Kornblau endowed the school with $2.5 million to establish the real estate institute that, as of Tuesday, bears his name.
VCU President Michael Rao unveiled the named Kornblau Real Estate Program on Tuesday morning at the school’s Real Estate Trends Conference at the Greater Richmond Convention Center.
“I’m pretty well attached to VCU,” Kornblau said in a prepared statement. “A few years ago, a company that I was associated with set up a scholarship at VCU in my name. After that, on a regular basis, I received letters from the recipients telling me how they loved the school and what they were going to do. And it made a great, great impression on me.”
Kornblau, 91, is chairman of SAMCO Development Corp. and a member of the board of directors of Eagle Construction of Virginia. He previously ran Realty Industries, a company that went public in 1984 and ultimately became part of United Dominion Realty Trust, one of the largest apartment developers in the country.
His son, Bryan Kornblau, is also in the business. He was the co-founder of Eagle Construction and sister companies that include commercial real estate development and residential and commercial real estate brokerages. The Eagle Companies were recently acquired by Markel Corp.