Research Areas
Real estate finance and strategy; mergers and acquisitions
Current Projects
Examining the commercial property markets; the evolution of real estate securities markets; corporate real estate usage; international real estate investments
Representative Publications
"Forces Changing the Real Estate Industry Forever." Wharton Real Estate Review 1.1 (Spring 1997).
(with J. Gyourko)
"Affordability and the American Dream: An Examination of the Last 30 Years." Journal of Housing Research 4.1 (1993).
(with S. Wachter)
"The Impacts of Borrowing Constraints on Homeownership." The Journal of the American Real Estate and Urban Economics Association 17.4 (Winter 1989).
"Corporate Real Estate Review" Wharton Real Estate Review 3.2 (Spring 1999).
"Private Real Estate Equity Funds: Past, Present and Future." Wharton Real Estate Review (Spring 2002).
"Should Commercial Real Estate Be Included in the S&P 500?" Wharton Real Esate Review (Fall 2001).
Education
PhD, University of Chicago, 1977; MA, University of Chicago, 1976; AB, Ashland College, 1973
Recent Consulting
Paramount Group, General Electric Capital Corporation, Lubert-Adler Real Estate Funds, Equity International Properties; GMAC; J E Robert Companies
Academic Positions Held
Wharton: 1979-present (Chairperson, Wharton Real Estate Department, 1994-97; named Albert Sussman Professor of Real Estate, 1989; Director, Samuel Zell and Robert Lurie Real Estate Center at Wharton, 1986-98.) Previous appointment: University of Chicago.
Professional Leadership 2005-2009
Urban Land Institute Research Fellow, 1990-present; Co-Editor, Wharton Real Estate Review, 1996-present
Corporate and Public Sector Leadership 2005-2009
Kranzco Realty Trust, 1992-2000; Equity One, Inc.; Resolution Capital Group; Crosland Group; GMFS; Sunbelt Management; Water Systems Inc.
