Herb Tousley, a commercial real estate expert and longtime instructor at the University of St. Thomas business school campus in Minneapolis, has been posthumously inducted into the school’s Minnesota Real Estate Hall of Fame.
Tousley died in January of 2020 — one month after being named a distinguished fellow to the NAIOP Research Foundation, a national commercial real estate industry think tank. The university hopes to endow a chair in his name.
After decades in the field, Tousley became an adjunct real estate professor at the Opus College of Business in 2003 and was appointed director of the university’s master degree in real estate and its Shenehon Center for Real Estate in 2009.
A popular instructor, he eventually doubled enrollment in the real estate program, and led the program from 2014 onward. During his tenure, the Shenehon Center launched the Hall of Fame, the annual Minnesota Affordable Housing Conference and monthly reports on housing trends.
Professor Mary Schmid Daugherty, a senior fellow in applied finance, said she was “amazed at all he did for the real estate program,” including “his ability to raise funds and make connections for academic scholarships for our students.”
“I have spent so much time this fall just tracking the various scholarships and designating student recipients of these monetary awards,” she said. “What a great gift that continues for the students!”
Tousley was inducted in November. The university has otherwise postponed its annual induction of Real Estate Hall of Fame members due to the pandemic.
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