The Culverhouse College of Business announced the renaming of its real estate program to the Rance M. Sanders Real Estate Program Friday after receiving a $5 million discretionary gift from Rance M. and Angie L. Sanders.
The $5 million is exclusively for the program, which involves the newly created real estate major added this semester, along with the existing real estate minor and concentration.
Rance Sanders isa two time alum of the University, and holds a B.S. in finance and J.D. from the School of Law. He is the current CEO and president of The Sanders Trust, a real estate company he formed in 1997 that operates in 30 different states with over $2 billion in value.
“I think real estate development is best learned hands on,” Sanders said. “You get it by going to a building, being on a job site, meeting with an architect, giving specifications and getting some dust on your shoes.”
Sanders has also supported the college through the Rance M. Sanders Endowed Scholarship started in 2007, which was intended to provide financial aid to students concentrating in real estate at the University but struggling to afford tuition. This endowment has grown to over $1.5 million as of 2025 and will continue to be supported along with the gift.
“Through Sanders Capital Partners, Tusk Asset Management and the Sanders Family Foundation, he has built not only companies, but opportunities for communities, for families and now for our students,” said Kay Palan, dean of the Culverhouse College of Business. “It’s an investment in excellence and in the promise of our students.”
University President Peter Mohler also commemorated the Sanders’ histories with, and contributions to, the University.
“When graduates like you recognize the impact that The University of Alabama has had on their own lives and then lift up the next generation, it shows the true strength of our alumni, that support is one of UA’s greatest assets,” he said. “This is what it looks like when a family becomes part of the living legacy of the Capstone for generations of students, your name will mean opportunity and generosity, and their futures will be brighter because of it.”
Sanders said he’s planning for some of the extra funding to allow students to get on a plane to go across the country to live and work for a short time to gain valuable experience.
“I think when students leave here, they’re going to be armed better with their education even more than I was,” Sanders said.
