“Chasing Yield & the (Mis) Pricing of Risk?” presented by The University of Chicago Booth School of Business Real Estate Alumni Group on October 29, 2014 at The University of Chicago, Gleacher Center, Chicago, IL. The Eighth Annual Real Estate Conference 2014.
Sponsored by Latham & Watkins LLC, LW.com (Providing strategic thinking and senior-level attention for innovative solutions to their most complex business issues.) Draper and Kramer, DraperAndKramer.com (Providing financial and property services in real estate primarily in property management and leasing, commercial mortgage, residential mortgage, and acquisitions and development.) Eastdil Secured, EastdilSecured.com (Providing the best-in-class services as the preeminent real estate investment banking firm for commercial real estate transactions ranging from single assets to large portfolios.)
U.S. Real Estate Market Overview
Presentation by Kenneth P. Riggs, Jr. (1994), President, Real Estate Research Corporation (RERC)
Mr. Riggs has dedicated his entire 35-year professional career to commercial real estate research, valuation, and consulting. As president and CEO of RERC, a Situs company, he directs the firm's valuation management and judiciary services, appraisal and litigation services, and analytics, research and publications for institutional clients.
Under Riggs direction, RERC manages more than $100 billion in valuation-related consulting services each quarter for:
· Two of the top five largest retirement funds in the U.S.
· The nation’s second-largest life insurance company by total life insurance
· Three of the largest real estate investment managers in the world.
In addition to leading the firm's business ventures, Riggs serves as publisher of the quarterly RERC Real Estate Report, one of the industries leading sources of valuation metrics, including independent capitalization and yield rates. He is also co-publisher of the annual forecast report, Expectations and Market Realities in Real Estate, which is being published by RERC, Situs, Deloitte, and the National Association of Realtors. The 2015 addition of this report will be available in February 2015.
Riggs holds an MBA with a concentration in finance and statistics from the University of Chicago Graduate School of Business. In addition to earning the CFA designation from the CFA Institute, he received the CRE designation from The Counselors of Real Estate, the FRICS designation as a Fellow of The Royal Institution of Chartered Surveyors, the CCIM designation from the CCIM Institute, and the MAI designation from the Appraisal Institute. In 2006, Riggs was named by NAR as one of the real estate's 25 most influential thought leaders.