Alan Arnold, the investment director for real estate for the Rice Management Co. (RMC) who was best known for significantly increasing Rice University's funds for scholarships and scientific research, died April 28 after an 18-month battle with cancer. He was 46.
Arnold began directing real estate investments for the RMC in 2013. His accomplishments included reacquiring management rights for Rice's property in Rice Village and the former Midtown Sears building, where RMC is now developing the Ion as the centerpiece of a new innovation district. Those investments will benefit the university for decades to come, said Allison Thacker, president of and chief investment officer for the RMC, who added that Rice’s real estate portfolio delivered excellent investment performance under Arnold’s leadership.
“Alan Arnold was an exemplary example of Rice values," Thacker said. "He was a brilliant investor who created lasting value for the Rice Endowment. He always had time to help a friend or colleague with a problem or to mentor a young person interested in investing. Alan believed deeply in the power of education to change lives and was passionate about delivering strong investment results which would enable Rice to offer more financial aid.”
Born in New Orleans on July 2, 1973, Arnold's passions for saltwater fishing and the New Orleans Saints never wavered even after he left his hometown. He and his family were members of the St. Anne Catholic Community in Houston, where he was active on several church committees. He was also a board member of Covenant House Texas and the Urban Land Institute, and he was a member of the Bayou Breakfast Club and St. Charles Bay Hunting Club.
Arnold attended the University of North Carolina at Chapel Hill on a full scholarship, graduating in 1995 with honors in political science and international studies. After working in Washington, D.C., as a consultant for Furash & Company and PricewaterhouseCoopers, he received his MBA from the Wharton School of the University of Pennsylvania with a concentration in real estate. He moved to Houston in 2002 and joined Lionstone Investments, where he sourced properties across the country while mentoring analysts.
"My dear friend, colleague and mentor will be sorely missed by me and all who knew him," said Ceci Arreola, the real estate investment manager for the RMC. "It was a distinct privilege to have worked and learned from him over the past five years. He had a rare ability to lead and guide while giving ample autonomy. His partnership -- he never allowed me to call him ‘boss’ -- during such formative years have made me a better investor, asset manager and most importantly a better mother, wife and faithful person. I will deeply miss his sage advice and humble, yet radiant, example.”
Arnold is survived by his parents, Alan Courtenay Arnold and Mary Elizabeth "Bette" Selser Arnold; his wife of 20 years, Miriam "Mimi" Arnold, and their sons Graham, Tripp and John David Arnold; his sister, Elizabeth Arnold Park (and her husband, Christopher Park); and his brother, Richard Arnold.
"Alan was a man that put his faith into action — he was devoted to his family and his work with Covenant House and St. Anne’s,” Arreola said. “His exemplary nature carried through in the courageous and openly faithful manner in which he fought cancer over the last 18 months. He awed me and inspired us all to live better lives, and we are all better for having known him."
In light of the current pandemic, graveside services will be private. A public memorial mass will be held at a later date. A tribute is online at https://www.dignitymemorial.com/obituaries/houston-tx/alan-arnold-9153963.