For Trey Castle, a master of real estate development (MRED) student at the Ivy College of Business, real estate began as a personal curiosity and evolved into a career vision. Set to graduate this month, Castle built a strong foundation for success by combining his business acumen, professional experience, and passion for community-centered development.
“I was initially drawn to real estate through a personal interest in owning property,” Castle said. “I wanted to understand the financial side of buying and managing property. After starting the MRED program, I realized real estate development could become a full-fledged career.”
Castle’s journey began at Iowa State University, where he earned his undergraduate degree with double majors in marketing and management. While working full-time in investor relations for Sower Investment Partners, a private equity firm specializing in commercial real estate investments and venture capital, he expanded his understanding of the real estate industry by applying what he learned in real-time.
“I chose Ivy because I completed my undergraduate degree here and it already felt like home,” he said. “The program allowed me to work full-time while attending classes, and the cost compared to other programs made it a smart investment. It was the perfect fit for balancing professional experience with advanced learning.”
Among the many projects and courses that shaped his graduate experience, the 2025 Harold E. Eisenberg Foundation Real Estate Challenge stood out. Castle’s team developed a proposal for a site in Chicago, Illinois’s, Bronzeville neighborhood, analyzing zoning, market conditions, and financial feasibility while balancing economic and community goals.
“The capstone project had the biggest impact (on his learning experience),” Castle said. “Presenting our work to industry leaders and finishing in the top three gave me hands-on experience with the full development process.”
The competition also deepened his appreciation for mentorship and teamwork. “One of my favorite parts of the program was the mentorship I received, especially from program director James Spiller (associate professor of practice in finance),” he said. “Having guidance from someone so experienced helped me refine my ideas, approach challenges with confidence, and grow professionally throughout the program.”
Spiller commented on Castle’s natural ability to connect and his work ethic.
“Trey is a natural connector, but during his time at Iowa State, he has sharpened his ability to connect with the correct players at the correct time to best benefit project success,” Spiller said. “He has deepened his expertise across multiple fields within real estate, from financial analysis to asset management, urban planning to leveraging federal and state tax credits, or starting a business and building a development team.”
Castle credited the mix of business, finance, and design courses for helping him understand the multifaceted nature of development.
“Go for it. It’s a one-of-a-kind education that allows you to apply what you are learning directly to your everyday work. Be genuinely curious and take every opportunity to network; you never know where these connections may lead.”
— Trey Castle
“The combination expanded my perspective by showing me that successful projects require balancing financial performance with usability, sustainability, and community impact,” Castle said. “As Mike Macri often emphasized, it takes the government, financials, and design/engineering all working together to make a project succeed.”
Macri (‘21 MRED) is an associate professor of practice in the Department of Urban Planning and Development at the College of Design.
That interdisciplinary approach also challenged Castle to grow beyond his comfort zone. “Collaborating with peers from diverse professional backgrounds challenged me to communicate effectively, adapt quickly, and work as part of a team,” he said. “Those experiences mirrored the demands of real-world development projects.”
The lessons learned in the MRED program made a significant impact on Castle’s career. “The program gave me a deeper understanding of how to evaluate the viability of projects from multiple angles,” he said. “I frequently drew on skills in market analysis, risk assessment, and strategic decision-making, which helped me communicate opportunities and potential challenges clearly to investors.”
He also emphasized the role of mentorship in his development. “Associate Professor of Finance Hua Sun was instrumental in teaching me financial modeling, and James Spiller was an incredible mentor throughout the program,” Castle said. “Beyond the classroom, I built relationships with industry leaders in the Omaha, Nebraska, market, many of whom became mentors and continued to influence my professional journey.”
As he approaches graduation, Castle hopes to continue shaping real estate projects that deliver both economic and social value. “I see myself helping shape projects that are both financially successful and create meaningful, lasting value for communities,” he said. “By combining strategic investment, thoughtful design, and strong collaboration with stakeholders, I hope to deliver developments that balance economic feasibility with social and environmental impact.”
For those considering the MRED program, Castle shared this advice: “Go for it. It’s a one-of-a-kind education that allows you to apply what you are learning directly to your everyday work. Be genuinely curious and take every opportunity to network; you never know where these connections may lead.”
Ultimately, Castle believes that the key to success in real estate development extends far beyond the numbers. “Real estate development is as much about collaboration and relationships as it is about numbers,” he said. “Building strong connections, listening to diverse perspectives, and balancing competing interests are key to making projects successful.”
Through his time in the Ivy MRED program, Castle gained more than technical knowledge. He developed the insight and relationships needed to help shape communities and create a lasting impact.
To connect with Trey Castle or follow his collegiate and professional career, visit his LinkedIn profile.
