(left to right) Sherri Koelbel,Walter A. “Buz” Koelbel, Jr., Gene Koelbel, Walter Koelbel.
by Doug Nogami Walter Koelbel was in a management training program with Montgomery Ward, when his roommate, a property manager for Moore and Company, approached him with a proposition. The roommate wanted Koelbel to take the roommate’s job as property manager so that he could change to a salesman’s position.
“It was an incredibly fortuitous quirk of fate and positive serendipity Walt ended up in the real estate business,” Walter A. “Buz” Koelbel, Jr., said explaining that his father was working in the lingerie department when the roommate approached. “Since that did not necessarily fit his fancy, he immediately jumped on the job to become property manager.”
Walt Koelbel’s decision has had a profound impact on the Colorado real estate industry, CU, and the Leeds School. When the newly expanded and renovated building for the school of business reopens in August, it will bear the name of one of the most distinguished names in Colorado real estate, the Koelbel family, honoring Walt and Gene Koelbel for their many years of service, as well as their family, including Buz Koelbel and his wife, Sherri.
Walt Koelbel and his wife, Gene, are both graduates of the business school at the University of Colorado with degrees in marketing. Buz Koelbel is also a business school alumnus with a degree in finance.
“Education is critical to the future of this country, and the University of Colorado is critical to this state.” - Buz Koelbel
Naming the building, which still must be formally approved by the University of Colorado Board of Regents, recognizes the Koelbels as leaders in Colorado real estate development, construction and sales, and their long-time support of CU and the business school.
Walt Koelbel founded Koelbel and Company 54 years ago, and it is one of the longest continually operating real estate companies in Colorado. Buz Koelbel began his real estate career building on “dinner table” knowledge brought home by his father. After graduating from CU, he started his real estate career in San Francisco, before suggesting that his father consider moving him back to Denver to assist with the senior Koelbel’s efforts. Buz Koelbel has been involved with the Koelbel and Company for 30 years and has served as president for the last 20 years.
The Koelbels made a substantial gift to the building project that reflects the family’s long-time commitment to education.
“Education is critical to the future of this country, and the University of Colorado is critical to this state,” Buz Koelbel said, speaking for the family. “Having a first-class facility for the business school is important to the university, and that is why we are making this significant gift.”
The family has built Koelbel and Company into one of the region’s leading real estate community development, construction, investment, management, and sales companies.
Koelbel and Company points with pride to many commercial and residential communities in Colorado, including the Pinehurst Country Club community in southwest Denver; the 600-acre Preserve at Greenwood Village, the premier custom-home community in the region; Rendezvous, a 450-acre resort community near the Winter Park resort; and The Keep, a 1,100-acre parcel with 64 estate home sites, which was the only portion of Tweet Kimball’s historic Cherokee Ranch that was entrusted for development.
Walt and Buz Koelbel are both actively involved in the Urban Land Institute(ULI). Buz is a current trustee of ULI, and Walt recently received the Lifetime Trustee Award from ULI, only the eighth person to receive that honor. The Koelbels have taken seriously their responsibilities as real estate professionals in their work and by promoting professional education.
Walt Koelbel’s 60 years of service and dedication supporting CU has included work on projects such as the renovation of Macky Auditorium and the original construction of the business school building for which he chaired the fundraising committee. His knowledge and leadership as a member and president of The University Improvement Corporation (TUIC) and his role establishing and nurturing the CU Real Estate Foundation have greatly benefited CU and the business school. In recognition of his work, the Alumni Association will honor him with the George Norlin Award in May. Both Walt and Buz Koelbel are founding members of the CU Real Estate Council.
Through all the years, Walt and Buz Koelbel still find the real estate industry exciting and energizing.
“The ever-changing nature of the business and the need to continually deploy strategic direction to these changing sands of the real estate environment” holds their interest, Buz Koelbel explained.
“As we have said on many occasions, we take very seriously the notion that under all lies the land, and whatever we do during our short-term stewardship lasts for generations. The most rewarding part of the business is in some small way taking part in the changing face of the fabulous city and metro area of Denver.” |