Awards & Recognitions
Academic Background
The University of Chicago Graduate School of Business
M.B.A., business administration with a concentration in finance and statistics; 1994
Kent State University, Ohio
B.B.A., business administration and majors in finance and real estate; 1981
Professional Recognition Held During Career
Certified Commercial Investment Member (CCIM)
Fellow of the Royal Institution of Chartered Surveyors (FRICS)
Chartered Financial Analyst (CFA)
Counselor of Real Estate (CRE)
Member of Appraisal Institute (MAI)
Held Appraisal Licenses in over 25 states
Professional Awards & Accomplishments
Served as Chief Real Estate Economist of the CCIM Institute, 2010, 2011, 2012
Served as Chair, The Counselors of Real Estate®, 2012
One of only three investment committee members named to the National Real Estate Advisors/NEBF, 2009-2021
Member of the Urban Land Institute (ULI)/Ernst & Young (E&I) Real Estate Consensus Forecast, Economists/Analysts, 2012-2021
Named one of Real Estate’s 25 Most Influential Thought Leaders by the National Association of REALTORS®, 2006
Held Series 6, 7, and 66 NASD Securities Licenses (2004 to 2010)
Appraisal Foundation Board of Trustees, member (2003 to Dec. 2005—served as Education Chair and Member of the Executive Committee)
Mortgage Bankers Portfolio Investors Committee, ex officio, 2004
Adjunct Professor in Finance, University of Northern Iowa, 2002-2006
Periodicals and Publications (Partial List)
RERC Quarterly Report (1991-2021)
Expectations and Market Realities Annual Report (2003-2021)
RERC ValTrends Quarterly Report (2020-2021)
Quarterly column on real estate investment for Commercial Property Executive (CPE) for their capital markets section, 2009-2020
“Slow Fuse,” Commercial Investment Real Estate, 2017
“The Clock is Ticking for Commercial Real Estate,” Commercial Real Estate Finance Council (CREFC), 2017
“High-Flying CRE Faces Some Turbulence After Years of Friendly Skies,” Real Estate Finance and Investment, 2017
Chapter titled “Private Real Estate” for published book titled “Advisor’s Guide to Real Estate Investing,” 2013
“Search for Safe Harbors,” European Real Estate Yearbook, 2012
Chapter titled “Portfolio Returns and Volatilities Through the Cycles,” for Real Estate Mathematics textbook, 2011
Quarterly column for the Counselors of Real Estate’s Real Estate Issues
“An Enterprising Solution: Using Technology to Gain a Competitive Edge,” The Institutional Real Estate Letter, November 2003
“Realized vs. Required Rates of Return and What it Means to the Real Estate Industry,” Real Estate Issues, Fall 2000