Ruijue Peng, Ph.D.

Dr. Ruijue Peng is the Chief Research Officer at PPR and is currently leading the company’s global expansion. She has supervised PPR’s research and product development and has overseen the development of econometric forecasting models and analytical tools. Her area of expertise is urban and real estate economics. Dr. Peng earned a B.S. from Tongji University in China and an M.S. and a Ph.D. from the Massachusetts Institute of Technology. Her doctoral thesis on land supply and property prices won the American Real Estate and Urban Economics Association’s Best Dissertation Award. Before joining PPR, Dr. Peng was a researcher at the Joint Center for Housing Studies of Harvard University and also a consultant to the World Bank.

Haibo Huang, Ph.D., CFA

Haibo Huang is the Head of US Forecasting. In this role, he leads his team of quantitative analysts to produce PPR’s quarterly forecast on US real estate fundamental and performance. This econometric model based forecast, which is considered PPR’s core product, covers the four major commercial real estate property types at both the metro and submarket level. Haibo is heavily involved in PPR’s major ongoing R&D projects. He also researches on various ad hoc client requests, many of which involve real estate asset allocation, portfolio optimization, real estate risk management and financial modeling. Prior to this, he also worked on Japanese office market forecasting as well as PPR’s building level valuation project where he applied his econometric and GIS techniques to construct real estate valuation model. His research has been presented at various institutions and conferences, including the 2007 AREUEA Annual Conference, 2004 Econometric Society’s Summer Meeting and 2004 Midwest Macroeconomics Meetings. His paper "Private Commercial Real Estate Equity Returns and Inflation," co-authored with Susan Hudson-Wilson, was published in the Journal of Portfolio Management, 2007’s Real Estate Special Issue. Before joining PPR, he was as an assistant instructor and research assistant at the University of Texas at Austin. Before coming to the U.S., he also worked as a financial analyst in the Head Office, Bank of China.

Haibo received his Ph.D. and M.S. degree in Economics from the University of Texas at Austin, and a B.A. in International Accounting from Renmin University of China. Haibo is a CFA charter holder and a member of AEA, AREUEA, BSAS and CFAI.

Brad Dillman

Brad Dillman, Quantitative Analyst, is responsible for the derived market return forecast, submarket forecasts, and market simulations for apartments in U.S. markets. Brad earned his B.A. in Economic Geography with departmental honors and a minor in Anthropology from the University of Washington, where he also became a member of the Phi Eta Sigma Honor Society. In 2006, he was the only recipient in the state of Washington of the Award for Excellence of Scholarship by the National Council for Geographic Education & Association of American Geographers. Before joining PPR, Brad received an M.Sc. in Regional Science from the London School of Economics, where he was also a member of the UK national champion University of London water polo team.

Colin Butkus

Colin Butkus, Quantitative Analyst and member of the Strategic Research Team, provides custom research requested by individual clients. He also runs portfolio optimizations and assists in other quantitative projects. Prior to joining PPR, Colin worked at Putnam Investments, where he held roles as Systems Business Consultant in the Financial Engineering group and Research Associate in the Global Asset Allocation team. Colin earned a B.A. in Mathematics and a B.S. in Computer Science from Quinnipiac University and an M.A. in Mathematical Finance from Boston University. He is currently a level two candidate in the Chartered Financial Analyst (CFA) program.

Garreth D. Evans

Garreth Evans, Quantitative Analyst, creates and manages the Derived Market Return forecast for office properties in U.S. markets. Prior to joining PPR, he earned a B.S.E. cum laude in Bioengineering from the University of Pennsylvania, with minors in Mathematics and Economics. Garreth also received an M.A. in Economics from Boston University.

Sherry Li

Sherry Li, International Quantitative Analyst on PPR’s European Forecasting Team, creates the forecast for the European office market and Asian retail markets and also conducts real estate investment research for specific client needs. She worked on the U.S Forecasting Team before joining the European team in London. Sherry earned her B.S. in Urban and Regional Planning from Peking University in China. With a focus on green building and the energy market, Sherry earned two Master’s degrees from Yale University, in Environmental Management and in Economics.

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.

Mingjun Huang, Ph.D.

Mingjun Huang, Senior Research Financial Analyst, is responsible for applied research in the areas of real estate risk management, mortgages, and commercial mortgage-backed securities. He is currently working to improve and develop the credit/prepayment models for commercial real estate mortgages and PPR’s COMPASSCRE software. Before joining PPR, Dr. Huang was at NovaStar Financial, Inc. (NFI), as a research analyst in the portfolio management group. There he helped develop and improve the company’s in-house loan level credit/prepayment models for subprime residential real estate mortgages, created ABS collateral/bond performance surveillance methodologies and reporting systems, and worked to integrate the INTEX database with NFI’s OAS systems. He is currently pursuing the Chartered Financial Analyst (CFA) designation. In addition to his work in finance, Dr. Huang received his Ph.D. in Electrical Engineering from University of Notre Dame, an M.S. degree in Physics from Bowling Green State University in Ohio, and a B.E. in Polymer Physics from University of Science and Technology of China (USTC). Dr. Huang has also applied for a patent on a design for an integrated optical amplifier that he invented with Prof. Douglas Hall of Notre Dame.

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, Senior Debt Analyst, is a member of the PPR Debt and Risk Management team. In this role he helps to manage several client accounts, assist Compass users, and tailor PPR’s core research to meet individual client needs. Mark earned an MBA from Bentley College and is also working towards a Master of Quantitative Finance degree there. He passed the Level III CFA exam in June 2008. Prior to joining PPR, Mark worked as a Financial Analyst for Fidelity and as an AVP/Client Manager for Bank of America.

Stephanie Hession

Stephanie Hession, Real Estate Economist, researches and analyzes U.S. property markets in the mid-Atlantic region. A native of the Washington, D.C., area, she previously worked at the Office of Economic Development of Frederick County, MD and conducted research on local economic development issues. Ms. Hession is a member of the Urban Land Institute and received her B.S. summa cum laude in Economics from Mount St. Mary’s University in Emmitsburg, MD.

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.

Kevin White, CFA

Kevin White, Senior Economist, is a member of PPR's macro research team, specializing in the U.S. economy and capital markets. In this capacity, he writes and speaks extensively about economic and financial developments and their implications for commercial real estate. He also consults with PPR clients, including fund managers, investment banks, pension funds, and REITs, helping to devise successful real estate investment strategies. Kevin has published papers and been quoted in several leading publications, including The Wall Street Journal, Business Week, and IPE Real Estate. Kevin's experience extends to international economies and property markets, as he has spent three years leading PPR's London-based team of European market analysts and, more recently, the firm's Canadian research practice.

Prior to joining PPR, Kevin was an official with Canada's Department of Finance, advising senior officials and ministers on Canadian tax policy and international economic relations. While there, he testified before a Senate committee, represented the country on a committee of the OECD, and wrote speeches for senior officials and the Minister of Finance. Kevin holds an M.A. in Economics from the University of British Columbia and a B.A. (Honors) in Economics from Queen's University. He is also a CFA charter holder.

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.

Hans G. Nordby

Hans Nordby monitors U.S. property markets and trends and is a key advisor to PPR’s clients, who include large public and private pension funds, pension fund advisors, investment banks, rating agencies, real estate developers, and REITs. Hans uses his extensive knowledge of micromarket research, capital markets transactions, asset management, and other real-world applications in his work with the firm’s forecasts, products, and client relationships.

Hans is a frequent speaker at industry conferences, including those for the National Association of Real Estate Investment Managers (NAREIM), The Risk Management Association (RMA), the Life Mortgage and Real Estate Officers Council Conference (Dutch Treat), the Mortgage Bankers Association (MBA) and the Institute for Fiduciary Education (IFE). In addition, he speaks at client-sponsored events for the clients' investors and customers.

Media in which he has been featured include the Wall Street Journal, Investment Dealers Digest, National Real Estate Investor and Real Estate Portfolio (NAREIT’s official publication), and Fox News, among others.

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, CMBS World, and ICSC Research Quarterly.

Prior to joining PPR, he was with a real estate investment sales and marketing firm based in New York City and conducted real estate investment sales as well as analysis and financial structuring of equity and debt investment opportunities. For a pension fund advisory firm, he managed a portfolio of office, warehouse, R&D, and multifamily properties in the Northeast and South Central regions of the U.S. In addition, he was responsible for acquisitions and market development in select markets. Before that, he was with KPMG Peat Marwick’s Real Estate Consulting Group in New York City, where he consulted on corporate real estate, asset securitization, and valuation.

Clay Daricek

Clay Daricek, Markets Team Manager, 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.

Peter Compton

Peter Compton, Real Estate Economist, is responsible for monitoring and writing about U.S. markets, focusing primarily on the Southeast. He earned a B.S. in finance and a B.A. in geography from Auburn University in Auburn, AL, where he was also a member of the football team.

Mark Hickey

Mark Hickey, Real Estate Economist, is responsible for monitoring U.S. markets, focusing primarily on the Northeast. 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, Senior Real Estate Economist, monitors U.S. markets, currently focusing on the New York, New Jersey, and Connecticut Tri-State area. Having covered a variety of markets and regions including Texas, Southern California, and portions of the Midwest, he assists clients with a big-picture perspective and lends his expertise to market analysts in the Southwest and West regions. Aaron has been quoted about commercial real estate markets in major metropolitan newspapers and national media, and he has written multiple Real Estate/Portfolio Strategist white papers at PPR. Before joining PPR, he graduated magna cum laude from Assumption College in Worcester, Mass., with a B.A. in Economics with a business concentration. Aaron was also awarded the college's Citation for Academic Excellence in Economics with a Business Concentration. He is a member of the Urban Land Institute.

Shaw Lupton

Shaw Lupton, Real Estate Economist, is responsible for monitoring U.S. property markets. His research at PPR is focused primarily on the warehouse property sector. He previously worked as 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 as a senior associate 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. He is an executive committee member of ULI Boston’s Young Leaders Group, where he chairs the organization’s regional university outreach initiative.

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, is responsible for monitoring U.S. property markets, primarily in the Midwest. Adrian graduated magna cum laude from the University of Pennsylvania with a B.A. in Urban Studies and a minor in Real Estate Development. Before joining the markets team, he worked in homeownership counseling and construction project management. During college, Adrian conducted extensive research on the links between sub-prime lending and the housing crisis, well before the topic began to make headlines nationwide.

Katie Schnidman Pelczar

Katie Schnidman Pelczar, Real Estate Economist, researches and writes analysis on U.S. property markets. Prior to joining PPR, she worked in commercial brokerage with DTZ Rockwood, focusing primarily on hotel properties. She also worked as the General Manager of a boutique hotel in Newport, Rhode Island. Katie earned a B.A. from Washington University in St. Louis and her M.B.A. in Real Estate Finance from Columbia Business School.

Katharina Conrad-Eybesfield

Katharina Conrad-Eybesfeld, Real Estate Analyst in PPR’s London office, researches and analyzes the primary office and warehouse markets of Germany and Austria, as well as working on the Central and Eastern European Analysts team. She earned a B.A. in Economics at the Karl Franzens University in Austria and then an M.Sc. in Real Estate from the University of Reading. She is active in the UK Society of Property Researchers as well as the German Society of Researchers GIF.

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.

Greg Mansell

Greg Mansell, Real Estate Analyst, is based in PPR’s London office, where he is responsible for monitoring the UK and Ireland as well as the Nordic property markets. A member of the Society of Property Researchers, he earned an M.Sc. degree in Real Estate Finance and Investment at the University of Reading Business School.

Rachel McElwee

Rachel McElwee, head of European Retail, is based in PPR’s London office, where she develops research and conducts analysis for major European retail markets. Rachel previously worked as a senior analyst at CB Richard Ellis. She has earned a Master of Commerce and Management from Lincoln University, New Zealand, a Post Graduate Diploma in Commerce in Marketing and Business Management, and a B. Com. She is working toward the IPF diploma and is a member of the Society of Property Researchers.

Victoria Scalongne

Victoria Scalongne, Real Estate Analyst, is based in PPR’s London office, where she covers the primary office and warehouse markets in Spain, Portugal, and France. Before joining PPR, she worked as an analyst at CB Richard Ellis. A member of the Society for Property Researchers, Victoria earned a B.A. degree in Geography at King’s College London and an M.Sc. degree in City Design and Social Science from the London School of Economics and Political Science.

Guy Sheppard

Guy Sheppard, Real Estate Analyst in PPR’s London office, is responsible for covering the primary office markets of Central and Eastern Europe, Switzerland, France, Spain, and Portugal. Prior to joining PPR, Guy studied for a B.A. in Politics and Economics at the University of York and then for an M.Sc. in Real Estate from the University of Reading. In addition, he is a member of the Society of Property Researchers.

Allison Baird

Allison Baird is a Quantitative Analyst for PPR’s Asia team. Prior to joining the company, she worked at Associates for International Research, where she traveled extensively to conduct on-site research on the cost of living for expatriates. She holds a B.A. in Mathematics from Smith College.

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.

Josh Scoville, CFA

Joshua Scoville, Director of Strategic Research, monitors U.S. property market trends and tailors PPR’s research to specific client strategies. These clients include large public and private pension funds, pension fund advisors, investment banks, real estate developers, foundations, and REITs. Before advising PPR’s clients, he spent five years researching property markets at the metropolitan level and two years managing PPR’s team of market analysts.

Mr. Scoville is a frequent speaker at industry gatherings, including the National Association of Real Estate Managers (NAREIM), Risk Management Association (RMA), Institute for Fiduciary Education (IFE), Strategic Research Institute (SRI), and Information Management Network (IMN). In addition, he often speaks at client-sponsored events for the clients' investors and customers and is a voting member of the Pension Real Estate Association (PREA) and member of the Urban Land Institute (ULI).

Mr. Scoville has written on a variety of topics for real estate journals and has been quoted in publications including the Wall Street Journal, National Real Estate Investor, Commercial Property News, Mortgage Banking, High Return Quarterly, Development Magazine, and Financial Planning.com. Before joining PPR, he worked at American International Group in both operations and underwriting. He received his B.A. magna cum laude in Economics and Business Management from Boston College and is a CFA charterholder.

Steve Miller, CFA, CPA

Stephen Miller, Director of Debt Research and Risk Management, is responsible for PPR’s real estate debt- and capital-market-related research, risk assessment, and analysis. 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 portfolio management career includes lengthy stints with Pacific Life, GE, and Washington Mutual. 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.

Steve has more than 15 years of teaching experience, including the Graduate School of Management at the University of California, Irvine, as well as 10-plus years as a trustee for a privately held institutional apartment REIT. A CFA charterholder, 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.

Michael Hakim

Michael Hakim, Quantitative Analyst, conducts custom research for clients, runs portfolio optimizations, and assists on other quantitatively driven projects as a member of PPR’s Strategic Research Team. He co-authored an article, "Exchange and Market," in IPE Real Estate with fellow analyst Colin Butkus. A former fund accountant for State Street Corp., Michael has also lectured on economics at Northeastern University. He earned an M.A. in Economics from Northeastern University and a B.A. in Economics from California State University at San Marcos. Michael is a level-one candidate in the Chartered Financial Analyst (CFA) program.

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.

Tiandan Wu

Tiandan Wu, Junior Financial Analyst on PPR's Debt and Risk Management team, works on scenario modeling of the company's real estate credit default model and helps to calibrate and validate PPR's COMPASS^CRE model. She also assists the team in performing risk analysis and providing individual client service, working on related research and projects. Tiandan earned a master's degree in Mathematical Finance at Boston University. She also holds a master's degree in physics at Miami University, focusing on computational simulations of astrophysics problems. She earned her B.S. degree in Physics from Shanghai Jiao Tong University in China.

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.