Syracuse appoints Fumarola senior VP of real-estate services, asset management

SYRACUSE, N.Y. — Syracuse University has announced the appointment of Adam Fumarola as senior associate vice president of real-estate services and asset management.

He started his new role Sept. 5, the school said in a news release.

Fumarola most recently served as senior director of real estate and development for Raymour & Flanigan, a Clay–based furniture and mattress retailer.

Since 2013, he was responsible for the management and operation of Raymour & Flanigan’s portfolio of retail, industrial and office-support properties.

He has more than 17 years of experience in managing multi-million-dollar, commercial real-estate portfolios “from both the business and legal perspective,” according to the Syracuse news release.

In addition, Fumarola has also taught at the Martin J. Whitman School of Management as an adjunct professor since January 2016, teaching real-estate development as part of Whitman’s James D. Kuhn Real Estate Center.

“After a thorough search, Adam was selected for his impressive knowledge and extensive experience in real estate, his management acumen, his skill in developing more efficient operations and procedures, and his proven leadership in motivating and inspiring team members,” Amir Rahnamay-Azar, senior VP and CFO of Syracuse University, said in the school’s news release. “We’re excited to have Adam join Syracuse University and lend his expertise to manage the university’s real-estate portfolio.”

Work involved

Fumarola, who will report directly to Rahnamay-Azar, will focus on the school’s real-estate activities.

He will have oversight of staffing, budgetary and fiscal responsibility of real estate acquisition, and the disposition, leasing, management and development for all the real-property assets.

Fumarola’s role also includes providing “guidance and advice” to senior administration on opportunities involving real property. He will also manage the staff that supports institutional real-estate management and lease administration.

Fumarola is “very grateful” for the chance to serve the school in this role, he said in the school’s news release.

“The university’s portfolio of real estate is critical to its overall mission and vision in providing a wonderful teaching and learning environment for faculty and students,” said Fumarola. “I look forward to working with the staff to manage the university’s assets and providing the insights that will enable the university to meet the challenges of the future and address new possibilities through the vision of the campus-framework [plan].”

The campus-framework plan “seeks to foster an inclusive range of strategies to address the student experience, integrate accessibility and mobility, and improve the academic and research environments,” according to a Syracuse website about the plan.

Contact Reinhardt at ereinhardt@cnybj.com