Burnham-Moores Center for Real Estate
University of San Diego
Norm Miller is a professor at the University of San Diego’s Burnham-Moores Center for Real Estate. Previously, he held the position of Vice President of Analytics for CoStar Group, the leading provider of property information and market analysis for the commercial real estate industry, and he continues to serve as the Editor of The Journal of Sustainable Real Estate (JOSRE), a new journal on sustainable real estate he co-founded in 2009 that is sponsored by CoStar Group.
Before joining CoStar from the University of San Diego, Dr. Miller was also a professor at the University of Cincinnati and was a visiting faculty member at DePaul University and the University of Hawaii. He started his academic career at the University of Georgia. He received his Ph.D. from The Ohio State University in finance and real estate with a minor in city and regional planning. He is active on the editorial board of several national and international journals and is a past president of ARES, the American Real Estate Society. He served for several years on the Cincinnati Port Authority and Riverfront Advisors, where he provided guidance on several public private developments, TIFs, deal structuring and economic inclusion goals.
Dr. Miller has published numerous academic articles, books and articles in trade market publications on housing, brokerage, mortgage risk, valuation, sustainable real estate and many other topics. His most recent book, “Commercial Real Estate Analysis and Investment” with Geltner, Eicholtz and Clayton, is in its second edition and is the leading graduate-level textbook for this topic on a global basis. Dr. Miller has lectured globally and domestically from Singapore and Thailand to Russia. He has also worked extensively with various academic and real estate trade associations. He was named the first “Distinguished Fellows” by NAIOP in 2002 and served as one of the primary instructors for NAIOP educational programs from 1998 through 2008
He is currently a Homer Hoyt Land Use Institute Faculty and Board member, based in North Palm Beach, Florida, and on the research committees of PREA, the ULI and ICSC.
Nico B. Rottke
European Business School
Professor Dr. Nico B. Rottke is founder and executive director of the Real Estate Management Institute (REMI) of European Business School. He holds the Aareal Endowed Chair of Real Estate Investment and Finance and ministers as academic director real estate related programs at the undergraduate, graduate and postgraduate level. Prior to his teaching and research activities he worked in the real estate industry in the area of high-yield investment. Nico Rottke is author of various journal publications, book articles and dictionary entries with research focus on real estate investment, –finance and –sustainability. He is editor of the handbooks on “Real Estate Cycles”, “Real Estate Private Equity” and “Real Estate Capital Markets”, as well as of the ongoing academic Ph.D.-series “series of real estate research”. In 2004, his study “investments with real estate private equity” was honored with the research award by the German Society of Property Researchers.
Nico Rottke is active in the Executive Committee of the Urban Land Institute (ULI) Germany and in the management board of the Institute of the German Real Estate Industry (iddiw). Furthermore, he is engaged as a ‘professional member’ (MRICS) of the Royal Institution of Chartered Surveyors (RICS) and as a member of the research group of the real estate energy management initiative ENRESO 2020.
Robert A. Simons
North America Editor
Cleveland State University Levin College of Urban Affairs
Robert A. Simons is a professor and former director of the Master of Urban Planning, Design and Development program at the Levin College of Urban Affairs at Cleveland State University in Cleveland, Ohio. He is also the faculty advisor for the Certificate Program in Real Estate Development and Finance, offered in conjunction with the Nance College of Business at CSU.
During Fall 2005, Dr. Simons has been a Fulbright Scholar at Wits University in Johannesburg, South Africa. Dr. Simons received his Ph.D. from the University of North Carolina at Chapel Hill in City and Regional Planning, with an emphasis in real estate. He also holds a Master of Regional Planning and a Master of Science in Economics, both from U.N.C. His undergraduate degree in anthropology was earned at Colorado State University. He has been a member of the American Institute of Certified Planners (AICP) since 1983.
At the Levin College of Urban Affairs, Dr. Simons teaches courses in real estate development, market analysis and finance, public economics Ph.D. research methods and environmental finance. Dr. Simons has published over 40 articles and book chapters on real estate, urban redevelopment, environmental damages, housing policy and brownfields redevelopment. He authored a book entitled Turning Brownfields into Greenbacks, (Urban Land Institute), and When Bad Things Happen to Good Property, (Environmental Law Institute, 2006). Dr. Simons has an active consulting practice, and has served as an expert witness in matters related to Real Estate and Environmental damages.
National University of Singapore
School of Design & Environment
Department of Real Estate
Dr. Kwame Addae-Dapaah is a senior lecturer at the Department of Real Estate, National University of Singapore. His research covers contrarian real estate investment, housing finance for the elderly, age-segregated housing and quality of life of the elderly, valuation of mixed-use development site, and more recently, sustainable real estate which, in his view, must be considered holistically in the context of the Brundtland Commission’s report.
Editorial Board Members
University of San Diego
Michel Boudrias is an associate professor and chair of the Marine Science and Environmental Studies Department at University of San Diego, and chair of the University of San Diego’s new Sustainability and Climate Change Task Force.
Dr. Boudrias' research interests include functional morphology of crustacean swimming appendages, the fluid dynamics of locomotion of invertebrates and fish, and the effects of aquatic pollutants on benthic communities.
Steven C. Bourassa
University of Louisville,
KHC Real Estate Research Professor
Steven C. Bourassa is the KHC Real Estate Research Professor at the University of Louisville, where he has worked for over 12 years. Prior to that, he was head of the Department of Property at the University of Auckland, New Zealand. He also served on the faculties of the University of Sydney, the Australian National University, and the University of Memphis. His research focuses on urban housing and land markets and policy and has explored home ownership rates in the United States and other countries, the use of community land trusts to provide affordable housing, methods for constructing house price indexes, and land taxation as an economic development tool.
His interests in sustainable real estate range from measuring the costs and benefits of environmentally sensitive real estate development to finding ways to make housing and commercial real estate more stable forms of investment. He is treasurer of the International Real Estate Society and associate executive director of the American Real Estate Society. He holds bachelors and master’s degrees from the University of Delaware and Temple University, respectively, and a Ph.D. from the University of Pennsylvania, where he studied city planning, real estate, and regional science.
Sofia V. Dermisi
Walter E. Heller College of Business Administration
Professor of Real Estate
Dr. Sofia V. Dermisi, is a Professor of Real Estate and the Pasquinelli Family Distinguished Chair at Roosevelt University’s Walter E. Heller College of Business Administration.
She holds a degree in Planning & Regional Development Engineering (’98) from the University of Thessaly, Greece and a Master & Doctoral degree (’99 and ’02) from the Harvard Design School, where she earned a departmental commendation for her Masters studies.
Dr. Dermisi has earned many awards, fellowships and scholarships in Greece and the U.S. for excellence in her studies and continues to earn awards for her research and teaching. The most recent research awards include: three best manuscript awards (Journal of Sustainable Real Estate, CoStar Group, National Association of Industrial & Office Properties) and a best practice award from BOMA/International.
She was the recipient of external grants from the National Science Foundation, Illinois Department of Transportation and BOMA/Chicago. Publishing more than twenty papers in peer reviewed academic journals, she presented her work in U.S. and international conferences. Dr. Dermisi’s research agenda has always focused in office markets, with an emphasis on terrorism/ life – safety issues. She is a member of BOMA/Chicago’s security committee, actively participating in the development and execution of Emergency Preparedness Tabletop exercises in the downtown area with the participation of the private and public (local & Federal) sector. Office building sustainability is another area she is expanding her research.
Dr. Dermisi serves as a Board member at the American Real Estate Society, editor of the Real Estate Information Technology section of the Journal of Real Estate Literature and a reviewer for seven peer reviewed journals and the National Science Foundation. She also received the Excellence in Teaching Award from Roosevelt University.
Oxford Institute of Sustainable Development Oxford Brookes University, UK
Professor of Real Estate and Director
Tim Dixon is Professor of Real Estate and Director of the Oxford Institute of Sustainable Development (OISD) based at Oxford Brookes University, UK. With more than 25 years’ experience of research, education and professional practice in the built environment he is a fellow of the RICS and of the Higher Education Academy, a member of SEEDA’s South East Excellence Advisory Board, as well as the editorial boards of five leading international real estate journals. He has collaborated on research projects with UK and overseas academics and practitioners, and is currently working on a range of funded sustainability-based research programmes, including European Investment Bank (social sustainability and urban renewal), RICS (sustainability indicators - ‘Green Gauge’ project), RICS Education Trust/Kajima Foundation (‘A Comparative Study of UK-Japan Brownfields’) and IPF (occupier demand for sustainable offices). He is co-author of the recent RICS report ‘A Green Profession’ and the recent Blackwells book, ‘Sustainable Brownfield Regeneration: Liveable Places from Problem Spaces’.
School of Real Estate and Planning University of Reading, UK
Real Estate Economics and Finance Henley Business School Lecturer
Franz Fuerst is Lecturer in Real Estate Economics and Finance. Previous academic posts include Research Associate at the Graduate Center of the City University of New York and Lecturer at the Technical University of Berlin. He has also been a Research Fellow at IRPUD and a Visiting Scholar at York University in Toronto. Prior to joining the Department, he worked as Senior Consultant at Atisreal/BNP Paribas where he was responsible for market research/forecasting as well as valuations and due diligence projects for large-scale portfolio transactions. His research interests are in real estate economics, portfolio and risk management, financial analysis of 'green' investments, forecasting of commercial real estate markets as well as spatial urban and regional development.
Angela Guggemos, Ph.D.
Colorado State University Department of Construction Management
Angela Guggemos, Ph.D., Assistant Professor in Construction Management at CSU specializes in life-cycle assessment and life-cycle costing research.
Rebecca Henn, AIA, LEED AP
SNRE University of Michigan School of Natural Resources and Environment
Rebecca Henn studies industry drivers of green building. To move construction towards sustainability, traditional firms must adopt green building practices. Rebecca looks at these firms’ sources of information, the fragmented nature of the industry, and how we will move resource conservation forward without sacrificing the quality of inhabited spaces. As a practicing architect, she eschews reducing sustainability in architecture to mere energy efficiency. Instead, she seeks sources of vibrant design inspired for healthy human habitation. Before coming to Michigan, Rebecca completed her Master of Design Studies at Harvard University’s Graduate School of Design. Prior to that, she practiced full-time as a principal at Celento Henn Architects + Designers, and taught part-time at Carnegie Mellon University’s School of Architecture, her alma mater. Rebecca seeks to share her academic research with both building industry stakeholders and parallel organizational fields.
College of Architecture Texas A& M University
Dr. Jerry Jackson is an energy economist and Texas A&M professor in the College of Architecture with thirty years experience addressing energy and sustainability issues in the built environment. He is also president of the consulting firm Jackson Associates where his clients include corporations ranging from startups to Fortune 100 companies along with state and federal agencies. He has been active in building-related energy issues providing economic analysis of building and appliance energy standards for the Department of Energy and analysis of energy-efficiency policies for electric utilities and state regulatory agencies.
His most recent focus is the development of new financial risk management tools to address building energy-efficiency investments described in his recently published book, Energy Budgets at Risk (EBaR): A Risk Management Approach to Energy Purchase and Efficiency Choices (John Wiley and Sons, April 2008). He is active in energy-efficiency and sustainability policy development at the federal and state level and in the international arena. He is currently participating in a United Nations Expert Working Group tasked with developing UN energy efficiency proposals for the post-Kyoto agreement.
He has a Ph.D. in economics from the University of Florida and has been at Texas A&M since 2005. He publishes regularly in academic and trade journals. His previous positions include Chief of the Applied Research Division at the Georgia Tech Research Institute and economist at Oak Ridge National Laboratory and the Federal Reserve Bank of Chicago.
John A. Kilpatrick, Ph.D.
Greenfield Advisors LLC
Dr. John A. Kilpatrick is the President of Greenfield Advisors, a 32-year-old real estate advisory firm headquartered in Seattle, Washington. His Ph.D. is in Real Estate Finance, and prior to joining Greenfield he taught real estate and corporate finance at the University of South Carolina. Dr. Kilpatrick is also currently a Visiting Scholar in Real Estate at the Zicklin School of Business, Baruch College, City University of New York, and serves on the Finance Department Advisory Board for Washington State University.
Dr. Kilpatrick is the author of four books on real estate, as well over 75 book chapters, monographs, and scholarly journal articles. He is a Fellow of the American Real Estate Society, a Member of the Faculty of Valuation of the British Royal Institution of Chartered Surveyors, and is active in numerous professional and academic organizations. Dr. Kilpatrick currently serves as the Education Chairman of the Real Estate Counseling Group of America, on the Publications Board of the Appraisal Institute, and on the Education Committee of the American Real Estate Society. Dr. Kilpatrick is featured in the current editions of Who’s Who in America and Who’s Who in Business and Finance. He is a consultant on real estate economics to Bloomberg Network News, and has been featured in the Wall Street Journal, the New York Times, the Boston Herald, and numerous other major periodicals.
Greenfield Advisors focuses on complex real estate advisory services, including investment management, litigation support, and workout consulting.
Daniel B. Kohlhepp, Ph.D.
Granite Road, LLC
Real Estate Consultant
Daniel B. Kohlhepp is a consultant with Granite Road, LLC, specializing in real estate investment and development services.
Dr. Kohlhepp retired from his eight-year tenure with Crescent Resources, LLC. as the president of both its Commercial Division and the LandMar Group, LLC, in July 2008. Dr. Kohlhepp was responsible for 18 major commercial developments in seven states that included mixed-use, office, warehouse/distribution, and retail projects. Committed to green building and sustainable development, he enrolled eight office projects totaling almost 2 million square feet in the United States Green Building Council’s Leadership in Energy Efficient Design (LEED) Program. In addition, he reorganized and re-staffed the Commercial Division and formed the Urban Mixed-use Land Development Division to address better the opportunities and issues inherent in mixed-use developments. This new division is currently undertaking a 4.3 million square foot, 77-acre project located on the Armed Forces Retirement Home campus in Washington, DC. The LandMar Group, LLC, is a master-planned community development subsidiary with 28 projects in Florida and southern Georgia. Kohlhepp substantially reduced the workforce and re-positioned the company to deal with deteriorating residential and credit markets. In 2006, Kohlhepp was also a key player in transitioning Crescent Resources from a wholly-owned Duke Energy subsidiary to a private company which included $1.8 billion debt and equity re-capitalization.
Kohlhepp started with Crescent as a vice president with responsibility for commercial development in the Mid-Atlantic Region. In 2006, he completed the development of Potomac Yard, a 300-acre, mixed-use, urban in-fill project in Northern Virginia. During the development of Potomac Yard, Dr. Kohlhepp and his team were awarded the Northern Virginia NAIOP Best Transaction of the Year (2001), Trenchless Technology’s Project of the Year (2003), Arlington Chamber of Commerce Chairman’s Award (2003), Washington Business Journal’s Best GSA Lease Award (2004), and the Arlington Chamber of Commerce ABBIES “Green “Award (2005). In 2006, the U.S. Green Building Council awarded LEED Gold Certification to One & Two Potomac Yard, a 654,000 square-foot, twin-tower, office project within Potomac Yard. In 2007, One and Two Potomac Yard was awarded the “Best Commercial Project” and the “Best Building High-rise” by the Virginia Sustainable Building Network and the Northern Virginia NAIOP, respectively.
Dr. Kohlhepp’s most recent publication is “Challenges and Lessons Learned at Arlington Potomac Yard,” which appears as Chapter Eight in Future Office: Design, Practice and Research, edited by Chris Grech and David Walter and published by Taylor and Francis in 2008. His most recent presentation was “ The Role of the Master Developer in Urban Mixed Use Projects,” which was presented with Bobby Zeillier on July 25, 2008 at the Harvard Graduate School of Design’s program, “New Communities: Concepts of Master Planning.” Along with Norm Miller, Ph.D., he is co-editing a special monograph dedicated to green building and sustainable development research sponsored by the American Real Estate Society.
After teaching on the faculties of the University of Oklahoma and Pennsylvania State University where he specialized in real estate investment analysis, Dr. Kohlhepp left academia in 1979 to become a developer and broker in Oklahoma City. In 1984, Dr. Kohlhepp moved to Washington, D.C., to enter the real estate investment advisory business, and in 1989 he sold his company, Potomac Realty Advisors, to Baltimore-based USF&G Corporation. He was responsible for all development and investment activities for a $1.5 billion portfolio containing office, retail, multifamily, industrial, and golf course communities. In 1992, Dr. Kohlhepp left USF&G and started Kohlhepp Realty Advisors, which specialized in real estate portfolio valuation and management for institutional and government regulatory clients. He joined Crescent Resources, LLC, in 2000.
He is a past president of the DuBois Educational Foundation, the advisory board for Penn State DuBois, and currently serves on the advisory board of the Johns Hopkins University Real Estate Program. He also participated on the Four Mile Run Joint Task Force, a special committee established to advise Arlington, Alexandria, the U.S. Army Corps of Engineers, and the Northern Virginia Regional Commission on the remediation and re-development of the Four Mile Run stream. He is a past director of both the Alexandria Economic Development Partnership and the American Real Estate and Urban Economic Association.
In 1997, the Weimer School of Advanced Real Estate and Land Economics recognized Dr. Kohlhepp with its Leadership Award, and in 2003, he received the Penn State University Alumni Fellow Award. In 2007 the Homer Hoyt Institute recognized Dr. Kohlhepp as a Hoyt Fellow. In 2008, he and his wife Donna were inducted into Penn State University’s Mount Nittany Society.
Born and raised in DuBois, Pennsylvania, Dr. Kohlhepp earned his B.S. and M.B.A. degrees from Penn State University and his Ph.D. -- with a major in Real Estate and Urban Analysis -- at The Ohio State University. He published numerous academic and professional articles in real estate and continues to teach adult education classes and seminars. A licensed real estate broker, Dr. Kohlhepp is a member of the Urban Land Institute and the United States Green Building Council. He is married to Donna Sell, and they have three daughters. Drs. Dan and Donna Kohlhepp are currently living as empty nesters, commuting between DuBois, Pennsylvania, and Falls Church, Virginia.
Colorado State University, College of Business
Loveland Commercial LLC Endowed Chair of Real Estate
Steven Laposa is the Loveland Commercial LLC Endowed Chair of Real Estate in the College of Business at Colorado State University. Dr. Laposa as 30 years of project management, real estate development, and real estate research experience, including 3-½ years international experience in the Middle East, Europe, and Africa. Prior to joining Colorado State University in August 2007, Dr. Laposa was a Director in the Global Real Estate Research group at PricewaterhouseCoopers for approximately 14 years.
His research and consulting experience includes international real estate markets (public equities, emerging markets, developing countries), corporate real estate, alternate energy real estate impacts, real estate cycles (international, U.S.), portfolio investment strategies, senior housing (1997 award for best research paper, 1998 second place award), and retail (1997 award from ICSC for best retail paper). Dr. Laposa continues to consults on global real estate trends and capital markets, real estate litigation cases, real estate investment strategies, future trends in real estate, and applied use of statistical modelling to real estate issues.
Dr. Laposa is the Past-President of the American Real Estate Society (July 2009 through June 2010), is currently or has been on the editorial board of the Journal of Real Estate Portfolio Management, Journal of Real Estate Education and Practice, and the Journal of Real Estate Literature. He has published articles in the Journal of Real Estate Research, Real Estate Finance, Journal of Real Estate Portfolio Management, Journal of Shopping Center Research, NIC Review, and Real Estate Capital Sources.
Dr. Laposa is a member of the American Real Estate Society, Homer Hoyt Fellows, American Economic Association, European Real Estate Society, American Real Estate and Urban Economics Association, and the Asian Real Estate Society. He frequently presents research papers at international industry conferences and has been a guest lecturer and visiting professor at Johns Hopkins University, Northwestern University, New York University, Ohio State University, Georgia State University, Cleveland State University, University of Florida, and the University of Denver.
Arizona State University
Colleges of Law, Design, Business, Construction FAIA
Director MRED - Master of Real Estate Development Program
Richard Nicholas Loope is the owner and Managing Principal of HL Design Build, LLC, a general contracting and real estate development firm specializing in custom homes, urban infill, and specialty retail projects. He is also a managing member of several real estate development LLC’s. In addition, Loope is the owner and Principal Architect of R. Nicholas Loope, FAIA, a boutique design firm focused on custom homes, urban infill, and specialty retail projects.
Highlights of Loope’s previous professional experiences include: President and Managing Principal Architect of Taliesin Architects, Ltd., the continuation of the practice of architecture began by Frank Lloyd Wright in 1893; President and CEO of the Durrant Group, Inc., a 350 member architectural and engineering design firm; President of the Solector Corporation, an alternative energy subsidiary of ASARCO International and President of the Solar Energy Industry Association.
Mr. Loope also serves as Director of the Master of Real Estate Development Program (MRED) at Arizona State University, an accelerated 30 week immersion program focused on educating students and mid-career professional in the practices and transactions of-and-in real estate development through an interdisciplinary teaching team from the colleges of design, law, construction, and business. In addition, since 1989, Mr. Loope has been a tenured member of the College of Design’s faculty.
Mr. Loope’s academic credentials include: Bachelor in Architecture, five year professional degree from the University of Maryland, Masters of Environmental Design from Yale University and completion of the PMD program at the Harvard Business School, Harvard University.
Johns Hopkins University
The Edward St. John Department of Real Estate Graduate Division of Business and Education Carey Business School
Dr. Isaac F. Megbolugbe is a Johns Hopkins University professor and a full time member of the faculty of The Edward St. John Department of Real Estate in the Carey Business School. He is the director of the Johns Hopkins Graduate Program in the Business of Urban Planning and Development. He is both a fellow of the American Real Estate Society and the Royal Institution of Chartered Surveyors and a distinguished member of LAMDA APLHA INTERNATIONAL (An Honorary Land Economics Society). He has published extensively in real estate economics and finance. He recently opened two new lines of research. One is research on the economics and business of a wide range of real estate facilities such as hospitals, nursing homes, public buildings, schools, etc. The other is research on knowledge cities including investigation into the relationship between the emerging field of knowledge-based development and knowledge management. More broadly, his research interests are in hedonic price theory and its applications to housing and mortgage markets; modeling of different aspects of housing demand, including homeownership, housing affordability, and racial and ethnic disparities in homeownership and housing demand; how real estate facilities are used and priced, including health care and hospitals, schools and public buildings; community development finance theories and best practices including exploration into end-state designs of financial architecture for mortgage finance in developing countries, small and medium enterprises, micro finance and community development finance generally.
University of Nevada, Las Vegas Greenspun College of Urban Affairs
Dr. Helen Neill is an Associate Professor of Environmental Studies, Greenspun College of Urban Affairs at University of Nevada, Las Vegas.
Dr. Neill’s research agenda includes: examining the impact of air quality on single family homes with traditional and spatial hedonic approaches; examining the short term and long term impacts of perchlorate contamination from the PEPCON explosion and Basic Management Incorporated (BMI) complex on single family homes in Henderson, Nevada; examining the potential radionuclide migration problem for communities living near the Nevada Test Site and identifying potential solutions through future well sites; and examining shallow buried transuranic radioactive waste, defense waste that was disposed of before 1970 at the national level and examining whether to exhume or leave in place at Los Alamos National Laboratory. All of these projects relate in one way or another to environmental management, economic valuation, risk, spatial statistics, and key laws and regulations such as the National Environmental Policy Act (NEPA).
RREEF Real Estate
Vice President of Research
Andrew Nelson is Vice President of Research at RREEF Real Estate. RREEF Real Estate is part of RREEF Alternative Investments, the global alternative investment management business of Deutsche Bank’s Asset Management division. In addition to focusing on sustainable investment practices, Mr. Nelson is the retail property specialist for RREEF Research. He also serves on the North American Research Task Force for the International Council of Shopping Centers (ICSC).
Mr. Nelson has over 20 years of advisory and industry experience in the areas of real property development, use, and investment. He combines a planning and economics background with expertise in evaluating development projects and programs. Mr. Nelson has held leadership positions in both the public and private sectors. Prior to joining RREEF, Mr. Nelson was Vice President of HOK’s Advance Strategies group, where he was national practice leader of the real estate strategy service line. He also directed Deloitte & Touche’s real estate consulting practice for Northern California, advising investors and owners on strategic issues.
Mr. Nelson was a Community Builder Fellow at the U.S. Department of Housing and Urban Development, where he helped develop and manage HUD's first comprehensive assessment system for evaluating the nation's public housing stock and the agencies who manage them. Previously he led a pioneering housing construction finance program for the World Bank in Russia. Mr. Nelson began his career in economic development for the cities of New York and Boston.
Mr. Nelson earned a Master of City and Regional Planning Degree from the Kennedy School of Government at Harvard University and a BA in Economics from Harpur College at the State University of New York in Binghamton.
University of Arizona
Dr. Gary Pivo works in the areas of responsible property investing, land use planning, growth management, and sustainable cities. He is currently Advisor to the Property Working Group of the United Nations Environment Program Finance Initiative and the Responsible Property Investing Center. At the University of Arizona, he holds professorships in the Planning Degree Program and the School of Natural Resources and is a Senior Fellow with the Office of Economic Development.
Dr. Pivo teaches courses on the land development process and environmental land use planning. Previously, Dr. Pivo has served as Dean of the Graduate College, Director of Graduate Interdisciplinary Programs and Associate Dean of the College of Architecture, Planning and Landscape Architecture at the University of Arizona. He has also served as Chair of the Department of Urban Design and Planning, Director of the Center for Sustainable Cities, and Director of the Interdisciplinary Group for the PhD in Urban Design and Planning at the University of Washington.
Dr. Pivo has published extensively on responsible property investing, urban form and sustainable urbanization.
Darren A. Prum, MBA, JD
Assistant Professor of Legal Studies
Department of Risk Management/Insurance,
Real Estate, & Legal Studies
College of Business
The Florida State University
Mr. Prum is an Assistant Professor in Legal Studies at The Florida State University. He has a wide range of experience in corporate, financial, legal, and general business matters. His background includes many facets of finance and related legal areas. Mr. Prum held financial management positions in all levels of the construction industry (from trade contractor to general contractor to owner's representative to architect/engineer). In addition, he held the title of Business Manager for a major defense contractor’s $100M division with numerous sites around the world.
As a faculty member, his primary research interests include green building construction and gaming law. His articles appeared in the Santa Clara Law Review, the Hastings Business Law Journal, the Loyola Consumer Law Review, the Real Estate Law Journal, the William & Mary Environmental Law and Policy Review, The Villanova Environmental Law Journal, the Gaming Law Review and Economics, UNLV’s Gaming Research and Review Journal, and SMU’s Journal of Air Law and Commerce. Mr. Prum made recent presentations at the AALS Contracts Section Spring Contracts Conference, the University of Nevada School of Medicine, and the College of William & Mary’s Environmental Law and Policy Review symposium: “It’s not easy Building Green.”
He earned a Juris Doctorate and a Master of Business Administration from the University of Nevada, Las Vegas, a Graduate Certificate in Accounting from the University of Southern California, and a Bachelor of Science in Business Administration from the University of California at Riverside. Mr. Prum currently teaches Legal Environment of Business, Business Law I, Construction Law, and Personal Finance.
Stephen E. Roulac
Founder, Roulac Global Places
One of the world’s leading authorities on the economic productivity and strategic importance of the places in which we live and work, Stephen Roulac’s work bridges construction sites and high finance, the academy and the board room, intellectual innovation and entrepreneurism. His background includes the highest academic credentials, innovative award-winning research, and teaching at leading universities, plus service as a trusted strategy advisor, investment manager and preeminent real estate expert.
Dr. Roulac has made fundamental, innovative research contributions and has pioneered the application of modern economic theory and securities analysis in ways that have transformed the property discipline, real estate capital markets, and institutional real estate investing. His thought leadership role has been widely recognized. His research has been ranked first, second, third or fourth in several studies of leading property scholars, from some 70 countries. Author of some 20 books, he has written over 400 articles, reviews and columns. Consistent themes of some 100 reviews of Stephen Roulac’s books are: “brilliant”… “must read”… “pioneering”… “indispensible”… “compelling”… extraordinary”… “provocative”… “very valuable”… “highly recommend”… “amazing”… “stimulating”… “challenging.”
In addition to numerous awards for papers and articles, he is the recipient of James A. Graaskamp Award, Warner Bloomberg Award, Richard Radcliffe Award, International Real Estate Society Achievement Award and the David Ricardo Medal. Stephen Roulac and James Graaskamp were the only academics so recognized as Millennium Real Estate Award Honorees by the University of California, Berkeley, recognizing those 100 individuals who had the greatest impact upon real estate in the 20th century.
Dr. Roulac has served on and continues to serve on numerous editorial boards of leading real estate and investment journals. A past president of the American Real Estate Society (ARES), his major research and industry contributions include: Commercial Property Securitization (1970s), Institutional Investment (1980s), Place Strategy (1990s), and Global Real Estate Investment Strategies (2000s).
Dr. Roulac’s research, teaching, speaking and advisory work focus on:
- How place choice has transformed society, business and global economy
- Strategic management of enterprises, institutions, public agencies, entrepreneurial ventures, and major projects
- Finance and investment, securitization, financing structure
- Investing strategy, with an emphasis on global economics and the competitive position of places
- Fiduciary duty, due process, best practices and applied ethics.
His work is global in scope, and includes all property types, debt and equity positions, securities forms and specialized interests in real property, combining leading strategic management consulting skills with four plus decades experiences in addressing the implications of trends in the real estate property and capital markets. Combining significant entrepreneurial and advisory roles with his teaching and scholarly research, his work is informed by insights derived from over four decades as primary advisor to major decision-makers in all facets of business, government, real estate and investing.
Retained by governments and also the savviest, most sophisticated and highly successful companies, entrepreneurs and investors throughout the world, he and his team have worked in 20+ countries, evaluating and investing in more than 100 countries, advising 1,000+ clients involving in excess of $50 billion real estate interests and creating billions of dollars of value for his clients. Dr. Roulac organized, led and had a major impact on developing the real estate consulting practices for two of the four largest accounting firms.
His credentials include BA, Pomona College; MBA, Harvard University; JD, University of California, Berkeley; and Ph.D. in strategy/finance from Stanford University.
Karl Werner Schulte
International Real Estate Business School
University of Regensburg
Karl-Werner Schulte graduated at the University of Muenster (Germany); he was awarded a Diplom-Kaufmann Degree in 1970 and Doctoral Degree in 1974. In 1986 he was appointed Chair of Business Administration, in particular Investment and Finance, at the EUROPEAN BUSINESS SCHOOL International University Schloss Reichartshausen (ebs) in 1986. In 1990 he founded the ebs REAL ESTATE ACADEMY and has been its academic and managing director until 2006. In 1994, he held the Endowed Chair of Real Estate at ebs, which became later the ebs Department of Real Estate by the appointment of further professors and was lead by Prof. Dr. Schulte for several years. In autumn 2006 he moved together with most of his colleagues to the International Real Estate Business School (IRE|BS) at the University of Regensburg, which has become one of the three biggest academic real estate centres worldwide in the meantime.
Among his special honours are the presidency of the European Real Estate Society (ERES) and the International Real Estate Society (IRES). Since 2006 he is responsible for promoting Real Estate Education and Research in Africa as an IRES Director. Prof. Dr. Schulte has been elected as an Honorary Member of the Royal Institution of Chartered Surveyors (HonRICS), the German Society of Property Researchers (gif) and the Real Estate Alumni Organisations (IMMOEBS).
For his outstanding achievements in the academic field he received in 1999 the IRES Service Award, in June 2001 the ERES Achievement Award and in Summer 2005 the Award of Excellence of the German Council of Shopping Centers e.V as well as the ULI Germany Leadership Award. The American real estate institution CRE Counselors of Real Estate has accepted Prof. Dr. Schulte as first German member.
As a member of numerous advisory and editorial boards of renowned real estate companies and academic journals, Prof. Dr. Schulte links practical and theoretical aspects of real estate. Many of his publications have become key literature of the discipline in Germany.
Grant Ian Thrall
University of Florida
Dr. Grant Ian Thrall has led the development of the contemporary university school of business geography thought. His 2002 book published by Oxford University Press, Business Geography and New Real Estate Market Analysis, is a synthesis of his pioneering contributions for over a quarter century. The American Real Estate Society’s Journal of Real Estate Literature called his book “a paradigm shift” for real estate market analysis. The Wharton School of Business writes that Thrall’s book is “compelling” as it builds the bridge between urban economic and geographic sciences advancing real estate market analysis. George Mason University writes that Thrall’s book is one that every person in business needs to read. He has been invited to give presentations on his 2002 book to University of Pennsylvania’s Wharton School of Business and Cal Berkeley’s Haas School of Business, and others. In 2004 he was invited to present the annual “Golledge Lecture” at UC Santa Barbara. In 2007 he received the ARES/Torto-Wheaton award for "Best Real Estate Market Analysis."
Dr. Thrall has written or edited over a dozen books, and over 150 professional articles. His ten volume Scientific Geography Series is the standard reference for academic and practitioner applications of business location modeling and applications of geographic information systems to the urban built environment. Bridging the gap between academia and the private sector, for over a decade Thrall has been a consultant with Global Real Estate Research Practice, Financial Advisory Services, of PriceWaterhouseCoopers LLP, and he has twenty years experience consulting with businessgeography.com A sample of his consultancies includes the creation of the market analysis for 1,000,000 square foot University Corners mall, the largest development ever within the city of Gainesville, site selection services for O2Bkids, market analysis for St. Joe Company, Gables Apartments, State University System Board of Governors, Gainesville Greens, Butler Enterprises and Great Southern Land.
Dr. Thrall has been invited to make many public speaking engagements, and to publish articles for organizations including Centers for Disease Control and Prevention, FannieMae and the Appraisal Institute. Professor Thrall is the only geographer to have been on the academic board of editors of the Appraisal Institute's Appraisal Journal. He is one of four geographers that have been invited to be fellows of the “Weimer School for Advanced Studies in Real Estate and Land Economics,” one of the highest accolades in academic and high-level practitioner real estate. He gave the keynote address to the FACU 2005 annual meeting.
Dr. Thrall has been a Professor at University of Florida since 1983, where he is regularly nominated and has been a recipient of teaching awards. He created the Business Geography curriculum solely housed within his home Department of Geography in the College of Liberal Arts and Sciences. He has chaired over 22 graduate student committees at MA and Ph.D. levels. He is a Weimer Fellow of the Homer Hoyt Institute, a member of the academic board of the Appraisal Institute’s Appraisal Journal, former co-editor of the Journal of Real Estate Literature, three times elected to the Board of Directors of the American Real Estate Society; and he is business geography, software and data editor for the leading GIS professional magazine GeoSpatial Solutions. He is on the Board of Directors of the International Geographical Union representing Applied Business Geography. He is a member of the editorial board of Journal of Real Estate Research.
Dr. Thrall has a Ph.D. in Geography and Economics, and an MA in Economics from The Ohio State University, and a BA in Business & Economics from California State University at Los Angeles. Professor Grant Thrall has been on the faculty of McMaster University in Canada, and SUNY at Buffalo. In 1989, he was Resident Scholar of the Homer Hoyt Institute in Washington DC. In 1990, he was Visiting Distinguished Professor at San Diego State University. In 2005 he gave $500,000 in valued stock to support the Homer Hoyt Institute.
University of Denver Franklin L. Burns School of Real Estate and Construction Management
Ron Throupe has over 25 years of experience in real estate & construction industry in various roles. He has been a licensed general contractor and is a certified general appraiser in the states of Washington, Connecticut and Colorado. While employed at major universities Ron was a consultant on valuation methods. He has been providing expert valuation & consultation services on a full time basis as Director of Operation of Mundy Associates in Seattle; a national real estate consulting and appraisal firm. Recently, Ron has taken a position at the Burns School of Real Estate & Construction Management at the University of Denver.
Some of his recent projects include:
- Portfolio analysis of a developer/operator holdings and strategic plan
- Valuation of an Investment grade office complex, Richland WA
- Valuation of leasehold and leased fee for eminent Domain Litigation for the Port of Tacoma
- Leasehold and leased fee analysis of Federal Gov’t leased Apartment complex, Fairbanks, AK Market analysis of multi-phase development projects
- Landfill affects on local markets and valuation of surrounding properties
- Feasibility analysis for Burlington WA, shopping center
- Valuation of Mold contaminated homes
- Litigation support for contaminated property class action lawsuits
Ron has made recent presentations to the American Real Estate Society annual meetings, the National Hazard Mitigation Conference, the National Council of Real Estate Investment Fiduciaries, and Law Seminars International.
Charles Tu, PhD
University of San Diego
Charles Tu earned his Ph.D. in Business Administration from the George Washington University (GWU) in 1999 and received the Chartered Financial Analyst (CFA) designation in 2000. Before becoming an associate professor at USD, he taught real estate and finance courses at GWU and Cal State Fullerton, where he received the Outstanding Teacher/Scholar award in 2002. Tu is dedicated to conducting applied research that helps improve real estate and business decision-making. His research agenda covers a variety of topics, including housing valuation, smart growth and the new urbanism, commercial mortgage backed securities (CMBS), real estate investment trusts (REITs), multifamily housing, and retail shopping centers. Tu has published articles in leading academic journals, and the findings of his research have been cited in major newspapers such as the Wall Street Journal, Washington Post, and Atlanta Journal-Constitution. He was granted tenure by the University of San Diego, which took effect Sept. 1, 2008.
Graduate School of Design
Dr. Bing Wang, Lecturer in urban planning and design, teaches design and real estate development courses at the Graduate School of Design, Harvard University. She is a core faculty member for Harvard Real Estate Academic Initiative (REAI) and thesis advisor for Master of Design (MDes) degree candidates with concentration in real estate. She also holds a three-year visiting professorship in the Property Development program at the University of Ulster and a visiting lectureship in the Department of Land Economy at the University of Cambridge in the United Kingdom.
Her academic research has focused on the interplays between formal representations of a society and its underlying social structure and economic driving forces. Her writing and research have been published in academic books and journals, including Planning Ideas and Planning Practices (2009), Professionalism and Professions (2009), Urbanization in China (2007), Regenerating Older Suburbs (2007) and Journal of Real Estate Portfolio Management. She is the author of the forthcoming book The Architectural Profession and Modernity in China (2009) and co-editor of Prestige Retail: Design and Development for High-end Market (2009) and Nexus: Field Studies in Real Estate, Planning, and Design (2005). She is on the Editorial Board for the Journal of Planning Theory and Practice, co-published by Routledge and the Royal Town Planning Institute of the United Kingdom.
Professionally, Dr. Wang worked as an investment consultant at Lehman Brothers in Tokyo and is currently the founding principal of YongYou International Investments LLC, a private equity company based in Shanghai, China, focusing on investments in real estate and media production companies in Asia. One of the real estate asset management companies she founded was successfully acquired in 2007 by the U.S.-based institutional investor CarVal Investors (formerly Cargill Value Investment).
As a professional designer, her recent projects include master planning and urban design of a 400-acre site surrounding Dianshan Lake in Shanghai, the value-creation strategies for the Yuyuan shopping mall located in the old center of Shanghai, a mixed-use development project in Tbilisi, Georgia, and as an advisor for the design of temporary structures for Covent Garden in London.
College of Architecture, Arts, & Humanities Department of Planning and Landscape Architecture
Professor and Director of the Center for Real Estate Development
Dr. Elaine Worzala is the Director of the Center for Real Estate Development and a Professor of Real Estate in the College of Architecture Arts and Humanities at Clemson University. She holds a Ph.D. in Real Estate and Urban Land Economics (1992) and an MS in Real Estate Appraisal and Investment Analysis (1984) from the University of Wisconsin-Madison. Her research interests lie primarily in institutional real estate investment, valuation and education.
Her accomplishments/awards include the IRES Achievement Award; the Bert Kruijt Service Award; Fellow in the Weimer School; Lambda Alpha International; Fellow of the Royal Institute of Chartered Surveyors, and the first woman Distinguished Fellow of the National Association of Office and Industrial Properties (NAIOP). She serves on the Mid-Atlantic Board of the RICS-Americas; the advisory board of the Real Estate Research Institute and the RICS-Americas Sustainability Council and on the Diversity Task Force at NAIOP.