Hans G. Nordby

Hans Nordby, Managing Director, PPR: Leads a team of 70 professionals, including 47 economists located in Boston; Washington, D.C.; and the United Kingdom.

Hans has been with PPR since 2002. Most recently he was Director of Advisory Services, managing custom strategic research efforts for large public and private pension funds, pension fund advisors, bank holding companies, and REITs. Nordby has extensive experience providing clients with commercial real estate insights on portfolio strategy, target market selection, relative value and custom scenario analyses, and acquisition/disposition studies.

Media in which he has been featured include The Wall Street Journal, Time Magazine, The New York Times, Investment Dealers Digest National Real Estate Investor, and Fox News, among others. Hans is a frequent speaker at industry conferences and also speaks at client-sponsored events for the clients' investors and customers.

Hans is a prolific writer and has contributed to The Journal of Portfolio Management, The RMA Journal, Real Estate Portfolio, The Journal Of Real Estate Portfolio Management, and ICSC Research Quarterly.

Robert Jennings

Robert Jennings, Quantitative Analyst, creates and manages the Derived Market Return forecast for office properties in U.S. Markets. Prior to joining PPR, he worked as a traffic forecaster for a transportation firm in Southern California. Robert received a B.A. in Mathematics from the University of California, Berkeley.

Francis Yuen

Francis Yuen, Real Estate Economist, monitors and analyzes the U.S. property markets, focusing on the Southwest and West regions. Prior to PPR, he worked as a consultant for The Concord Group, Real Estate Advisors, where he conducted feasibility analysis, generated product program and positioning recommendations, and conducted financial valuations for commercial real estate portfolios in the U.S. and Europe for leading banks, developers, and equity funds. Francis earned a B.A. cum laude in Economics and Psychology from Middlebury College.

Jim Mealey

Jim Mealey, Senior Market Advisor, provides clients with local understanding and analysis of the Boston commercial real estate market. Jim joined PPR with over 20 years of broad real estate experience. He began his career with the United States Treasury Department as a Savings & Loan Examiner during the historic savings and loan crisis. Jim later moved to the Office of the Comptroller of the Currency, where he was responsible for a portfolio of national banks and analyzing distressed and complex commercial real estate portfolios. After business school, he joined Case Shiller Weiss, Inc., where he was instrumental in building and growing the Case-Shiller Repeat Sales Index. Following Case Shiller, Jim was a portfolio manager with AEW Capital Management, where he was responsible for managing and liquidating commercial real estate assets in excess of $10 billion. Most recently, Jim was a Principal with a local real estate development company, where he directed investment and acquisition decisions in a rapidly changing market. James earned his B.B.A. in Economics and Finance from Iowa State University and his M.B.A. from Yale University.

Walter Page

Walter Page has recently joined PPR as Director of Research. He will specialize in the office sector, provide thought leadership and lead PPR’s research efforts.

Walter has over 25 years of commercial real estate experience and a successful track record in leading teams to provide cutting edge real estate research. He was formerly Managing Director of Research at American Realty Advisors, Vice President of Research at Equity Office and Vice President of Research at LaSalle Investment Management, all in Chicago, IL. In each of these senior research positions, Page was charged with creating the corporate view, tracking and forecasting real estate markets and advising in the assumptions used for strategic buy and sell decisions, which contributed to above average investment returns during his tenure.

Fred Wu, Ph.D.

Dr. Fred Wu is the Director of Research & Development at PPR. In this role, Dr. Wu is responsible for developing new proprietary models, conducting cutting-edge research, and serving as a liaison between the Quantitative Team and the product and technical groups.

Dr. Wu earned his Ph.D. in Finance from the Pennsylvania State University with a concentration in real estate finance, his M.S. in Civil Engineering from Washington University in St. Louis, and his B.S. from Tongji University in China. Prior to joining PPR, Dr. Wu spent a number of years as a member of the real estate and finance faculty at the University of South Alabama. He also worked as an investment consultant at two financial organizations. Dr. Wu’s research has focused on real estate capital markets, investments, and risk management. During 2004-2005, Dr. Wu received a research grant award from the Real Estate Research Institute (RERI) for his work in REITs.

Omena Ubogu

Omena Ubogu, Senior Quantitative Analyst, works closely with the Quantitative Analysis Team. She received her M.A. in Applied Economics at the University of Michigan, Ann Arbor, where she also completed her B.S. degree in Economics. Prior to joining PPR, Omena worked on a National Institute of Drug Abuse-funded project focusing on the differentiation of smoker phenotypes. She enjoys writing, and in her spare time, is a staff writer for the Nigerian Entertainment webzine.

Kyle Potter

Kyle Potter, Quantitative Analyst, works with the Quantitative Team managing the Derived Market Return forecast for apartments in the U.S. markets. Prior to joining PPR, Kyle earned his B.A. in both Economics and Mathematics (with a specialization in Statistics) from Boston University.

Xiaojing Li, Ph.D.

Xiaojing Li, Senior Financial Analyst, works on developing, validating, and improving models of CMBS default/prepayment risk, the foundation of PPR’s COMPASSCRE software. As a member of PPR’s Debt Research and Risk Management team, she leads research in mortgage risk analytics, pricing, structured products, portfolio risk management, and related topics. She also provides econometric consulting and economic and quantitative analysis. Before joining PPR, Xiaojing was a research assistant in the field of Consumer Finance at Ohio State University, where she received her Ph.D. and M.S. degree in Economics. Also a graduate student in the program of Applied Statistics at OSU, she will soon receive her M.S. in statistics. Xiaojing earned a B.A. and an M.A. in Economics from Wuhan University in China.

Michael Taylor

Michael Taylor, Quantitative Analyst, manages the derived market return warehouse forecast for U.S. markets. Before joining PPR, he earned his M.A. in Economics from Boston University. He earned a B.A. magna cum laude in Economics, also from Boston University, where he became a member of the Phi Beta Kappa Honor Society.

Mark Fitzgerald

Mark Fitzgerald, CFA, Capital Markets Strategist, manages client accounts and assists clients in tailoring PPR’s core research and leveraging the Compass model to meet strategic objectives. Mark has co-authored a number of research papers on the outlook for commercial real estate debt on bank balance sheets with recommendations on optimal courses of action that the banks and the government could pursue. In addition, Mark has been a speaker at several industry conferences, including those for the Risk Management Association (RMA) and the Mortgage Banker’s Association (MBA).

A CFA charterholder, Mark earned an MBA from Bentley College and is also working towards a Masters of Quantitative Finance. Prior to joining PPR, Mark worked as a Financial Analyst for Fidelity Investments and as an AVP/Client Manager for Bank of America

Stephanie Hession

Stephanie Hession, Senior Real Estate Economist, researches U.S. property markets, focusing heavily on national office trends. She authored PPR’s 2010 REPS comparing CBD and suburban office market trends across the country. Based in CoStar Group’s Washington, D.C., headquarters, Stephanie also specializes in the mid-Atlantic region’s property markets. In addition to writing on the national office market, she has been quoted in regional and national publications, including the Wall Street Journal, the Washington Post, the Washington Examiner, and the Baltimore Sun. Ms. Hession is a member of the Urban Land Institute and serves on the Real Estate 101 Committee for the Washington, D.C., Young Leaders Group. She previously worked at the Office of Economic Development of Frederick County, MD, and conducted research on local economic development issues. She earned a B.S. summa cum laude in Economics from Mount St. Mary’s University.

Suzanne Mulvee, CFA

Suzanne Mulvee, CFA, designs strategies for investing across the U.S. apartment, office, retail, and warehouse property markets. She works to customize PPR's core research to suit specific investment criteria and helps clients to communicate portfolio performance and forward-looking strategies to stakeholders. Mulvee specializes in research and forecasting of the performance of retail assets across the United States.

Since joining PPR, she has written a handful of white papers and numerous articles for publications, including Commercial Investment Real Estate, MBA Newslink, CMBS World, and NCREIF's Real Estate Performance Report. She is often cited in industry news journals as well as national media for opinions on real estate investment performance.

Before joining PPR, she analyzed real estate investment opportunities for a local brokerage firm, consulted on commercial real estate purchases, and worked as a credit analyst in San Diego and Greater Boston. Mulvee earned a B.A. cum laude in Financial and Managerial Economics from the University of New Hampshire, where she was recognized as one of the University's prestigious Presidential Scholars. She holds the CFA designation and is a member of Urban Land Institute, Boston Security Analysts Society, and ICSC.

John O'Callahan, CFA

John O'Callahan, Capital Markets Strategist, is a member of the PPR Debt and Risk Management team focused on enhanced services for clients of the Compass model. John joined PPR with almost a decade of experience in commercial real estate lending and equipment finance, including loan pricing and profitability, transaction structuring, secondary marketing, and securitizations. He managed loan sales exceeding $8 billion from 2004-08 while working for a large bank.

A CFA charterholder, John earned his MBA from the University of Chicago following an initial career in aerodynamics engineering at the Boeing Company.

Michael B. Cohen

Michael Cohen, Research Strategist, follows and analyzes the state of the U.S. multifamily market, both rental and for-sale product, tailoring his research in this area to the needs of PPR’s diverse client base. He is the author of several white papers on the state of the apartment market, including "The End of the Housing Party: Will Commercial Real Estate Investors Wake Up With a Hangover?" He regularly speaks to industry organizations, is often quoted in the national press, and has appeared on both CNBC and Bloomberg Television.

Prior to joining PPR, Mr. Cohen worked for leading employers in both the real estate and technology industries. He received his B.A. in Political Science from SUNY at Buffalo, J.D. from Cornell Law School, and M.B.A. from the Carroll Graduate School of Management at Boston College. Mr. Cohen is also a member of the National Multi Housing Council.

Carlos Ortea

Carlos Ortea, Real Estate Economist, monitors and analyzes U.S. property markets, focusing primarily on the Midwest. Prior to joining PPR, he worked as a research fellow for a Boston-based think tank, where he contributed to independent analysis on relevant policy issues and tracked key regional economic data. Carlos received a B.A. in Economics from Florida State University and an M.A. in Economics from Boston University.

Ruijue Peng, Ph.D.

Dr. Ruijue Peng is the Chief Research Officer at PPR. Since joining the company in 1994, Dr. Peng has been charged with overseeing research and the development of econometric forecasting models and analytical tools. Dr. Peng built PPR’s forecasting model and the related platform, which is the underpinning of PPR's analytical research. She also directed PPR’s global expansion, building the PPR Asia Service from the ground up. After CoStar’s acquisition of PPR in 2009, she spearheaded the development of the CoStar Repeat-Sale Price Indices and presented the results at the 2010 American Real Estate Society Conference. The paper on the subject won the award for the Best Paper for a Practicing Professional.

Dr. Peng earned an M.S. and Ph.D. from MIT with a concentration in urban and real estate economics. Her doctoral thesis on land supply and property prices won the American Real Estate and Urban Economics Association's Best Dissertation Award. Prior to joining PPR, Dr. Peng was a research fellow at the Joint Center for Housing Studies of Harvard University. She also served as a consultant to the World Bank.

Clay Daricek

Clay Daricek, Senior Manager, U.S. Markets, is responsible for the leadership, direction, and performance of PPR economists who monitor property markets across the United States. Clay brings a broad base of real estate knowledge and over 12 years' experience to the Markets Team. Before joining PPR, he worked with the Stop & Shop Supermarket Company, analyzing deals, performing feasibility analysis, and negotiating leases. As an Investment Analyst for Colliers International, he provided the financial analysis in the underwriting process for multiple office and mall transactions. As Associate Director of Client Services, one of a variety of positions held during his tenure with ARGUS Financial Software (The Realm), he developed the Training and Consulting Division into a viable profit center. He has worked as an advisor to numerous companies, including JP Morgan, Hines, Deutsche Bank, and The Abu Dhabi Investment Authority, as well as speaking to real estate professionals on four continents. In addition, he owned and operated a real estate consulting company providing advisory and technology solutions to companies across the U.S. Clay earned a Bachelor of Science in Business Administration from the University of Arkansas.

Mark Hickey

Mark Hickey, Real Estate Economist, is responsible for monitoring U.S. markets, focusing primarily on the Northeast. Mark has been quoted about commercial real estate markets in major metropolitan newspapers and national media, including the Boston Business Journal, the Boston Globe, and the Wall Street Journal. Prior to joining PPR, he spent 10 years working in financial services for some of the nation's leading investment banks. Mark received his B.S. in Finance and Economics from the Whitman School of Management at Syracuse University and an M.B.A. from the Carroll Graduate School of Management at Boston College.

Aaron Jodka

Aaron Jodka, Manager, U.S. Market Research, is responsible for the leadership, direction, and performance of PPR economists who monitor property markets across the United States. He has also researched and covered a variety of markets and regions, including Texas, Southern California, and parts of the Midwest, and is currently focusing on New York. This background enables him to offer a broad perspective and expertise to both clients and PPR analysts across multiple regions. Aaron has been quoted on commercial real estate markets in major metropolitan newspapers and national media, and he has written several Real Estate/Portfolio Strategist white papers at PPR. A magna cum laude graduate of Assumption College in Worcester, Mass., with a B.A. in Economics with a business concentration, he earned the Citation for Academic Excellence in his major. He is a member of the Urban Land Institute.

Dan Egan

Dan Egan, Real Estate Economist, monitors and analyzes the U.S. property markets, focusing primarily on the Southwest and West regions. He previously worked as an analyst for multifamily developer JPI, where he was involved in a wide range of corporate activities, including market research, forecasting, financial analysis, and underwriting. Dan earned a B.A. in Business Administration, with a concentration in finance, from Babson College. While at Babson, he founded and managed a successful full-service painting and carpentry firm in Southern Rhode Island. He is also a member of ULI Boston's Young Leaders Group.

Shaw Lupton

In his role as Senior Real Estate Economist at PPR, Shaw Lupton advises institutional clients on their commercial real estate investment strategies. He also manages the firm’s industrial research. Prior to joining PPR, Mr. Lupton was an analyst for the capital markets and finance group at Boston Properties, where he was involved with a broad range of corporate activities, including acquisitions underwriting, credit risk analysis, and office lease structuring. He also worked for the Boston-based real estate private equity fund Westport Point Capital, an exclusive joint venture with Prudential Investment Management. Mr. Lupton holds an M.A. in International Economics and Finance and a B.A. cum laude in Economics from Brandeis University, where he helped develop and launch a graduate course focusing on the analysis, financing, and management of income-producing real property in mature and emerging markets. As Co-Chair of the ULI Boston Young Leaders Group, he works to provide young real estate professionals with participation and leadership opportunities, as well as to develop programming and benefits for Young Leaders and Student Members.

Ryan McCullough

Ryan McCullough, Real Estate Economist, tracks U.S. property markets in the Southwest and Midwest regions. His duties include observing commercial real estate trends, monitoring development projects, identifying market opportunities and threats, writing analytical reports, and providing personalized service to PPR clients. Prior to PPR, Ryan headed Grubb & Ellis Boston’s Research Services Team, where he managed the production of all research publications, including market statistics, intelligence reports, articles, and client-specific requests. Ryan received a B.S. in Marketing Management from Virginia Tech and an M.A. in Economics from Boston University.

Jeff Myers

Jeff Myers, Real Estate Economist, is responsible for monitoring U.S. property markets in the San Francisco Bay area, Sacramento, and Indianapolis. Prior to joining PPR, he held positions in various city planning agencies in Indiana and Georgia. Jeff earned a degree in Urban Planning and Development from Ball State University and an M.S. in Real Estate from Georgia State University.

Elizabeth Berthelette

Elizabeth Berthelette, Real Estate Economist, leads the PPR team of market analysts in the Southeast, after extensive research on and analysis of various markets within the region. Because of her experience in these and other markets, she has often been quoted about commercial real estate markets in major metropolitan newspapers and national media. A former Performance Analyst with Putnam Investments, she earned a B.A., summa cum laude, in Economics, Geography, and Global Studies from Assumption College in Worcester, MA. She received the college’s Citation for Academic Excellence in Global Studies.

Adrian Ponsen

Adrian Ponsen, Real Estate Economist, researches and writes about U.S. property markets, primarily on the West Coast. He coauthored PPR's 2009 REPS on market selection for distressed investing. Before joining the PPR Markets Team, he worked in homeownership counseling and construction project management; as an undergraduate, he conducted extensive research on the links between subprime lending and the housing crisis, well before the topic began to make headlines nationwide. A magna cum laude graduate of the University of Pennsylvania with a B.A. in Urban Studies and a minor in Real Estate Development from the Wharton School of Business, he is undertaking further coursework in Commercial Real Estate at Boston University's Center for Professional Education.

Paul Leonard

Paul Leonard, Real Estate Economist, monitors and analyzes the U.S. Property markets, focusing primarily on Texas and Ohio. His duties include observing commercial real estate trends, identifying market opportunities and threats, writing analytical reports, and providing personalized service to PPR clients. Prior to PPR, Paul headed Jones Lang LaSalle’s Boston Research division, where he managed the production of all research publications and statistics. Prior to JLL, Paul worked for the Boston Redevelopment Authority as a research assistant. Paul earned a B.S. in Environmental Design/Urban Studies from the University of Massachusetts Amherst.

Erica Champion

Erica Champion, Senior Real Estate Economist, researches and analyzes trends in U.S. property markets, focusing heavily on national apartment trends. Based in CoStar Group’s Washington, D.C., headquarters, she also specializes in the Southeast region’s property markets. In addition to concentrating her research on the dynamics of the national apartment market, Erica examines macro-level demographic trends that affect commercial real estate as well as the state of the U.S. housing market. With nearly 10 years of experience in the real estate industry, Erica brings deep and broad experience from her tenure as a real estate development consultant. She advised private, public, and municipal clients on issues ranging from recommendations on precursory market and site selection, economic development and analysis of the fiscal impact/benefit, market and financial feasibility of proposed projects, and repositioning of distressed assets or development projects. A member of the Urban Land Institute, she graduated with high honors from Georgetown University with a B.S. in Business Administration.

Thomas Francis

Tom Francis, Real Estate Analyst in PPR’s London Office, researches and analyzes the primary office and warehouse markets in the Nordic region and Ireland. Prior to joining PPR, Tom earned an M.Sc. in Real Estate Economics at the University of Reading, for which he was awarded the grade of distinction, and a B.A. in International Business, Finance, and Economics at the University of Manchester. He is also a member of the Society of Property Researchers.

Glen Marker

Glen Marker, Senior Market Advisor, monitors Chicago property market trends and works with local and regional clients to tailor PPR’s research to their individual strategies and needs. In his career as an economic, real estate, and site selection research professional, Glen has served as an advisor to numerous corporate, nonprofit, and governmental clients in their asset and location decision-making process. He has been quoted in several leading publications, including the Wall Street Journal, Slate Magazine, Crain’s Chicago and New York, and the Chicago Tribune.

Before joining Property and Portfolio Research, Glen served as National Director of Research for Grubb & Ellis, where he set and guided the strategic direction of all market research functions, services, and work products. He’s also served as the Director of Research for World Business Chicago, an award-winning regional economic development organization. During his tenure, Glen was involved in attracting and/or retaining numerous companies, including Boeing, BP Petrochemicals, Motorola, Orbitz, Sara Lee, Skil Bosch, and YMCA.

Glen holds an M.S. in Urban Planning from Columbia University in New York and a B.A. in Urban Studies and Regional Planning for the University of California, San Diego.

John Affleck

John Affleck, International Economist, performs econometric modeling, forecasting, and data-processing algorithm design as part of PPR’s European and Asian forecasting practices. Prior to joining PPR, Mr. Affleck worked in the payments systems group at Forrester Research, and before that was at Cornerstone Research, where he provided economics and finance analyses for litigation and regulatory proceedings. Mr. Affleck holds a B.A in English Literature from Oral Roberts University and an M.A. in Economics from Boston University.

Frank Ramsden

Frank Ramsden, Research Assistant, works in support of the U.S. Markets Team in research and modeling for many of the company products by analyzing strategic economic and commercial indicators. Frank’s contributions also include the development and updating of key market reporting tools and data management. Frank is a recent graduate of Northeastern University, where he earned a B.S. in Economics.

Steve Miller, CFA, CPA

Stephen Miller, Director of Debt Research and Risk Management, is responsible for PPR’s real estate capital market research, credit risk analytics, and relative value assessment. Steve brings more than 30 years of experience in commercial real estate to the PPR team, predominantly in managing real estate portfolio exposures for pension funds, life insurers, and depository institutions. His background includes domestic and international transactional experience of more than $6 billion in both the public and private sectors, and across the equity and debt investment spectrums.

Capital formation, credit risk exposure measurement & management, and market pricing are the focus of Steve’s research and analysis at PPR. The capital markets team extensively tracks and forecasts commercial real estate loan performance for the industry: banks, life insurers, and the CMBS market. Recent market dislocation and the numerous government response initiatives are being rigorously evaluated, with emphasis on the commercial real estate market impact. The team’s assessment focuses on lender and borrower behavior in response to evolving economic conditions, government stimulus efforts and the revised regulatory framework.

Steve has more than 15 years of real estate capital markets teaching experience, including the Graduate School of Management at the University of California, Irvine. He served as a trustee for a privately held institutional apartment REIT for 10 years. A CFA charter-holder, he earned a B.S. in Business Administration from the University of Southern California. He is also a CPA.

Sotiris Tsolacos, Ph.D.

Dr. Sotiris Tsolacos, the Director of European Research for Property and Portfolio Research, is responsible for delivering the company’s research and portfolio strategy services in Europe. He works closely with clients to resolve complex issues by creatively applying PPR’s data and research techniques.

Sotiris has years of experience in strategic investment research and risk management. He has consulted with investment managers and real estate funds on business planning and strategy. He also spent seven years with Jones Lang LaSalle in London, leading the investment research group. Prior to that, he was a lecturer in Economics at Reading University.

Sotiris holds a B.A. degree in Economics and Econometrics from the University of Athens and both an M.A. degree in International Finance and a Ph.D. in Economics from Reading University. He has carried out extensive real estate modeling and forecasting work in the European context, publishing over 35 papers in major international real estate research journals. A regular commentator on topical themes and contributor to practitioners' magazines, he is a frequent speaker at industry events. He is on the editorial board of the Journal of Property Research and the Journal of Property Investment and Finance and is a past president of the European Real Estate Society. Sotiris is also a fellow of the European Union Business Cycle Network.

Ozlem Yanmaz-Tuzel, Ph.D.

Dr. Ozlem Yanmaz-Tuzel, Senior Quantitative Analyst, works in Research & Development developing and improving models and assisting on other quantitative projects. She leads the research in the modeling for the CoStar Commercial Repeat-Sale Indices (CCRSI), and provides econometric and quantitative analysis. Before joining PPR, Dr. Yanmaz-Tuzel was a Research Assistant at Rutgers University, where she received her Ph.D. and M.S. degrees focusing on transportation economics. She also completed a double major in civil engineering and industrial engineering at Bogazici University in Turkey.

Pooja Sharma

Pooja Sharma, Senior Debt Analyst in PPR’s Debt Research and Risk Management team, communicates credit risk, pricing, and economic trends to CRE clients. Charged with assisting clients in using the COMPASS model, she also conducts financial research and works with the team to plan and execute strategic business development initiatives.

Prior to joining PPR, Ms. Sharma was an Underwriter at Merrill Lynch, where she analyzed refinance and acquisition loans for commercial, hospitality, self-storage, and other alternative property types. She also served as Associate Director at Fitch Ratings, performing cash flow and dark value analysis on large and conduit loans in synthetic, traditional fusion, B-Note, and B-Note CDO transactions.

Ms. Sharma earned a B.A. in Business Administration from the University of Pittsburgh.

Vlad Gotlib

Vlad Gotlib, Quantitative Analyst, works with the Quantitative Team forecasting the Retail DMR. Prior to joining PPR, he worked as a Technical Developer creating custom Excel and Access solutions at Investors Bank and Trust. Vlad received a B.A. in Economics from the University of Massachusetts, Amherst.

Noam Kleinman

Noam Kleinman, Real Estate Economist, monitors and researches PPR's U.S. property markets for all property types, focusing primarily on the Southeast. Noam brings a broad base of real estate knowledge and over 12 years of experience to the Markets Team. He most recently worked as an analyst for the Global REIT fund and the Real Estate Advisors group at Franklin Templeton Investments, researching and analyzing REIT portfolios globally. As the managing trustee for Somerville Capital Realty Trust, he headed a real estate fund investing in multifamily properties; as a broker and investment specialist at Paragon Properties, he led a business unit serving middle-market real estate investors ($5 million-$50 million in assets). Noam has also worked as an advisor to numerous international companies, including CCAFM in Beijing, Geneplex in Canada, and Dizingoff Trading & Real Estate Group in Israel. Noam earned an MBA in Finance and Global Management from Boston College and a Bachelor's degree cum laude in Social Sciences and Government from Harvard University.

Paul Weber

Paul Weber, Quantitative Analyst, works with the Quantitative Team forecasting the industrial DMR. Prior to joining PPR, Paul received an M.B.A. from Bentley University’s McCallum Graduate School of Business with concentrations in Quantitative Methods for Business Decisions and Economics and Financial Markets. He also earned his B.S. in Managerial Economics from Bentley University.

Michael Hakim

Michael Hakim, Senior Quantitative Analyst, conducts custom research for clients, runs portfolio optimization and asset allocation studies, and assists on other quantitatively driven projects. Michael also spent significant time running PPR’s Apartment forecast model and continues to research and analyze trends affecting the U.S. multifamily sector. He co-authored an article, “Exchange and Market,” in IPE Real Estate, which analyzed currency effects on global real estate investments. In addition to his work at PPR, Michael has also lectured on both micro and macroeconomics at Northeastern University. He earned his B.A. in Economics from California State University at San Marcos and an M.A. in Economics from Northeastern University.