Please join Chicago Booth alumni and friends in NYC for a commercial real estate mixer and panel event. Prof. Joe Pagliari will moderate an expert panel of industry leaders and alumni: Andrew Bruce '02 (Behringer Harvard), Heather Goldman '99 (Brookfield Financial), Alok Gaur '93 (The Carlyle Group) and Dr. Victor Calanog (REIS).
6:00 PM-8:00 PM: Mixer & Light Refreshments
8:00 PM-9:15 PM: Panel Session
9:15 PM-10:00 PM: Mixer
Joe Pagliari (Speaker)
Clinical Professor of Real Estate, Chicago Booth
Joseph L. Pagliari Jr. is both a certified public accountant and a chartered financial analysis, with a research focus on real estate portfolio management. His article "The Pricing of Non-Core Real Estate Ventures" was published in The Journal of Portfolio Management; "Public versus Private Real Estate Equities: A More Refined, Long-term Comparison" written with Kevin Scherer and Richard Monopoli was published in Real Estate Economics; "Public v. Private Real Estate Equities: A Risk/Return Comparison" written with Kevin Scherer and Richard Monopoli appeared in theJournal of Portfolio Management; and "Twenty Years of the NCREIF Property Index" written with Frederich Lieblich, Mark Schaner, and James R. Webb, was published in Real Estate Economics.
Based on over 25 years of industry experience, Pagliari's research goal is to attempt to answer important real estate investment questions from a rigorous theoretical and empirical perspective. He also hopes to share that knowledge with students so they can learn to make thoughtful decisions about commercial real estate investing.
He co-authored several chapters in the Handbook of Real Estate Portfolio Management, of which he is also the editor. Pagliari also has co-written material published in Real Estate Investment Trusts, Pension Fund Investing, and Megatrends in Retail Real Estate.
Pagliari serves on the editorial advisory boards of the Journal of Real Estate Research and Journal of Real Estate Portfolio Management. He is also active in numerous professional associations including the American Real Estate Society, the American Real Estate and Urban Economics Association, and the National Council of Real Estate Investment Fiduciaries. He has presented papers at meetings held by AREUEA, NCREIF, and NAREIT.
Pagliari earned a bachelor's degree in finance from the University of Illinois-Urbana in 1979. He earned an MBA from DePaul University-Chicago in 1982 and a PhD in finance from the University of Illinois-Urbana in 2002.
Heather S. Goldman (Panelist) '99
Managing Partner, Brookfield Financial
Heather Goldman is Managing Partner at Brookfield Financial, responsible for new business origination.
Prior to joining the Firm, Ms. Goldman was Senior Vice President at Starwood Capital Group Global, responsible for Marketing and Client Services. In her diverse real estate advisory and banking career, Ms. Goldman spent nearly five years as Chairman and CEO of CapitalThinking, a real estate software and risk management company. Previous to that, Ms. Goldman has an eight-year background in investment and corporate banking, including at Bank of Montreal where she was a Director in the Real Estate Capital Markets Group.
Ms. Goldman earned her BA in International Relations from the University of Wisconsin, Madison, and her MBA from Chicago Booth, Graduate School of Business. Ms. Goldman also served three-and-a-half years as a US Peace Corps volunteer in Mali, West Africa. Ms. Goldman currently serves as a Director for University Settlement, a social services nonprofit based in New York City. She also serves as Real Estate Advisory Board member at Chicago Booth School of Business.
Andrew Bruce (Speaker) '02
Senior Vice President of Capital Markets, Behringer Harvard
Andrew J. Bruce is the Senior Vice President of Capital Markets for Behringer Harvard Holdings. Mr. Bruce is responsible for managing the financing activities for the Behringer Harvard portfolio of funds. This includes the structuring and placement of commercial debt for new investments, for the refinancing and restructuring of existing debt, and for corporate credit facilities. In addition, Mr. Bruce is responsible for maintaining existing banking and lending relationships as well as cultivating new relationships. Mr. Bruce also is charged with overseeing and managing the programs' use of derivatives and hedging instruments, and working with the programs' real estate professionals in their efforts to analyze potential new projects, equity restructurings, and loan purchases in which the various portfolios are considering.
Behringer Harvard is a sponsor of public and private, non-traded real estate investment vehicles. The total assets under management are approximately $11 Billion. Behringer Harvard targets investments in the U.S. and abroad, and is currently invested in eight countries outside of the U.S. The investment strategy comprises three categories: Core, Value Add, and Opportunistic.
Prior to joining Behringer Harvard, from 1994 to early 2006 Mr. Bruce worked for AMLI Residential Properties Trust in Dallas and in Chicago. While at AMLI, Mr. Bruce was responsible for AMLI's capital market activities and for overseeing the underwriting for new development projects and co-investments.
Mr. Bruce holds a Masters in Business Administration degree from the University of Chicago (2002), and a CPA designation. Mr. Bruce graduated from Western Michigan University with a Bachelor of Business Administration degree. Mr. Bruce is a member of ULI and NAREIT.
Alok Gaur (Speaker) '93
Managing Director, The Carlyle Group
Alok Gaur is a Managing Director focused on investor relations in global real estate. He is based in Washington DC.
Before joining Carlyle, Mr. Gaur was a Principal at Greenhill & Co. where he worked in the Real Estate Capital Advisory group which raised equity capital for a variety of real estate private equity funds and ventures targeting investments in North America, Europe, Asia and Latin America. Prior to Greenhill, Mr. Gaur spent five years at Credit Suisse in the Real Estate Private Funds Group. He has also worked for nine years at The John Buck Company in a variety of roles, and two years at Coopers & Lybrand in the Real Estate Advisory Group as a consultant.
From September 2008 to August 2009, Mr. Gaur was registered as a lobbyist in Missouri. Mr. Gaur received his M.B.A. and B.A. from The University of Chicago. Mr. Gaur currently holds Series 63 and 7 licenses.
Dr. Victor Calanog (Speaker)
Vice President of Research & Economics, REIS
Victor Calanog is Vice President of Research and Economics at Reis. He and his team of economists and analysts are responsible for the firm's market forecasting, valuation, and real estate portfolio analytics services.
Dr Calanog's research has received awards and fellowship support from several institutions, including the Ford Foundation, the Russell Sage Foundation and the Penn Lauder Center for International Business Research.
A prodigious researcher with broad interests, his papers in real estate economics, local government competition, and urban fiscal policy have been presented in meetings of the American Economic Association, the American Finance Association, the Brookings Institution, and discussed in academic forums sponsored by Harvard Business School, Columbia University, Stanford University, the Wharton School of the University of Pennsylvania, and the Stern School of Business at New York University.
He serves as contributor and peer reviewer for several academic journals, with scientific papers published in the Journal of Banking & Finance, the Journal of the Risk Management Association, and cited in the Journal of Public Economics, the World Bank Research Observer, the Brookings Papers on Urban Affairs and Public Administration Review. His assessments of market conditions have appeared in national publications like the Wall Street Journal, New York Times, Bloomberg News, Financial Times, and Reuters News. Dr Calanog writes three monthly columns on commercial real estate for the National Real Estate Investor, Scotsman Guide and Bisnow, and has received honors from the American Society of Business Publication Editors for his work. He serves on the Editorial Board of the CRE Finance Council, the Advisory Board of the Real Estate Research Institute, and has lectured at international universities like the University of Antwerp in Belgium, the National University of Singapore, and the Ateneo de Manila University in the Philippines.
Dr Calanog holds a PhD in Applied Economics and Management Science, trained by a dissertation committee composed of faculty from the Wharton School of the University of Pennsylvania and Harvard Business School. In addition, he has an MBA in Finance and an MA in Business and Public Policy, earning the Amy Morse Prize and the Thomas P. Gerrity Leadership Award as the most distinguished PhD and MBA student in his class.