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Santa Monica Real Estate Magnate Donates $15 Million to USC

USC alum Thomas J. Barrack Jr. donated the money to renovate a building that will house the school's international business program.

Photo credit: David McNew/Getty Images
Photo credit: David McNew/Getty Images

USC trustee and real estate magnate Thomas J. Barrack Jr. donated $15 million to the university's Marshall School of Business to renovate a campus building that will house the school's international business programs, the university announced Tuesday.

"As a distinguished USC trustee and alumnus, Thomas Barrack is a stellar leader in our university's community, as well as a renowned leader in the sphere of international finance," USC President C.L. Max Nikias said. "The Barrack family's exceptionally generous gift will bolster our Marshall School of Business and its faculty and students, and revitalize one of the school's key facilities for generations to come. We warmly applaud the family's philanthropic vision."

The donation will be used to renovate Bridge Hall, a 1928-vintage building that will become home to the Marshall School's international business programs for graduate and undergraduate students. University officials said the building's classic exterior will remain untouched, but the interior will be "completely re-imagined."

The renovated facility will include offices, classrooms, research centers and communal areas.

Barrack is the founder of Santa Monica-based Colony Capital, billed as one of the world's largest private equity real estate firms.

"Education and the development of a cultural sixth sense are the keys to commerce, and commerce is the key to tolerance and understanding," he said. "As an alumnus, I feel privileged to supply stewardship for the bricks, while Marshall, its dean, administration and faculty supply the intellectual mortar. I am thrilled to be part of this exciting venture at Marshall and hope that the resources provided by the enhanced facility will help nurture the next generations of international business leaders."

The renovated building will be renamed Barrack Hall, according to the university.

Barrack has been a member of the USC Board of Trustees since 2012. He also serves on the USC Lusk Center for Real Estate's Advisory Council.

— City News Service

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