USM Foundation

Robert Milkovich

CEO rand* construction corporation

Robert Milkovich serves as the CEO for rand* construction company, a privately-owned, award winning national commercial general contractor that specializes in tenant interiors, building renovations/repositioning, retail and restaurant construction. The company was founded in 1989 in Washington, DC and grew nationally with offices in Atlanta, Austin and Denver. The company consistently generates over $325 million of revenues annually and has over 250 employees nationwide. He has over 30 years of experience in many aspects of commercial real estate, specifically in leadership roles.

Previously, Milkovich served as the CEO and Trustee of First Potomac Realty Trust (FPO). First Potomac was a self-managed, publicly traded real estate investment trust focused on owning and operating, developing and redeveloping commercial real estate in the Washington, DC region. The portfolio was over nine million square feet and was sold to RMR in late 2017. The transaction represents a 38% TSR for the investors during Milkovich’s leadership.

Prior to joining First Potomac Realty Trust, Milkovich served as the President of Spaulding & Slye Investments, a comprehensive real estate services and investment company that is a wholly owned subsidiary of JLL. Milkovich headed the Investment Committee and developed the company’s investment strategies, structured joint-ventures and sourced new business opportunities. During his time at the company, the portfolio consistently generated Value-add to Opportunistic returns with above market equity multiples.

Milkovich served as Region Director of Archon Group, L.P., an investment and management arm of the Merchant Banking Division of Goldman Sachs. There he spearheaded acquisitions and asset management for the Merchant Bank, Special Situations Group, and other parts of the firm. In addition, he was responsible for underwriting structured finance and debt transactions for Goldman Sachs. Previously, he was Market Managing Director for CarrAmerica, a then publicly traded real estate investment trust headquartered in Washington, DC, while working in Phoenix, Denver, Salt Lake City and other parts of the country. Primary responsibilities included overseeing asset management, development activities, portfolio investments and acquisition efforts.

Milkovich graduated with a B.S. in Business Administration from the University of Maryland. He attended the university on a full scholarship. In 2010, he completed the Real Estate Executive Seminar: Capital Markets, Innovative Ventures, and Business Strategy course at Harvard Business School. Milkovich is on the Board and Membership Committee of the Economic Club of Washington, DC. He served on the Office Development Council of the Urban Land Institute and is a past President of The Real Estate Group in Washington, DC. He is also an emeritus member of the University System of Maryland Foundation Board.

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Robert Milkovich

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