Sorry it has taken a couple of days to reply as I had been helping applicants with their Booth applications (due 6pm EST).
You ask "do you think it (re UCLA) could be a hindrance if one prefers NOT to be in Cali ?" Per above, I think you have more research to do. Contact the UCLA Ziman Center for Real Estate and officers within the Anderson Real Estate Association and ask which of your target companies (JLL, CBRE, Cushman & Wakefield, etc.) recruit on campus and do those target companies allow you to select the office where you would be based. AREA even has a VP Career Management who could answer your specific questions (
https://www.anderson.ucla.edu/clubs-and- ... eal-estate).
Generally speaking, for career paths that are not the standard management consulting or investment banking track there is always some advantage to already being in the city in which you want to work. The reason is that you will informally build relationships through campus events, speaker series, conferences, mentor programs, etc.
Given your geographical preference of Texas/Georgia(Atlanta)/North Carolina etc., you should apply to McCombs, Goizueta, Fuqua and Kenan-Flagler. UCLA Anderson has a goals question similar to Kenan-Flagler's goal question so apply to Anderson now and then decide which program is best for you from your acceptances.
However, I caution using the location of post-MBA employment as the sole criterion in comparing MBA schools. But, all things being equal (which they usually are not), you would rather be in the place you wish to work post-MBA, so if an applicant wanted to work in say New York post-MBA the applicant might choose Stern over Anderson, and vice-verse. If the applicant wanted to work in California post-MBA the applicant might choose Anderson over Stern. Here is an article I wrote on
Choosing MBA Schools.
Feel free to schedule a free assessment for some more tailored information.
Good luck,