“Flood of Capital” presented by The University of Chicago Booth School of Business Real Estate Alumni Group on November 5, 2015 at The University of Chicago, Gleacher Center, Chicago, IL. The Ninth Annual Real Estate Conference 2015.
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Joseph L. Pagliari, Jr. Ph.D, CFA, CPA, Clinical Professor of Real Estate, The University of Chicago Booth School of Business.
Professor Pagliari has a research focus on real estate portfolio management. His articles include: “An Overview of Fee Structures in Real Estate Funds and Their Implications for Investors” published (as a special research project) by the Pension Real Estate Association, “The Pricing of Non-Core Real Estate Ventures”, 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, published in Real Estate Economics; “Public v. Private Real Estate Equities: a Risk/Return Comparison” written with Kevin Scherer and Richard Monopoli, appeared in the Journal of Portfolio Management; and “20 Years of the NCREIF Property Index” written with Frederich Lieblich, Mark Schaner, and James R. Webb, published in Real Estate Economics.
Based on over 30 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. These issues include:
• the risk-adjusted performance of core and non-core funds,
• principal/agent issues in incentive fees,
• a comparison of REITs and private real estate,
• real estate’s pricing and return-generating process,
• real estate’s role in a mixed-asset portfolio,
• the strategic uses of leverage, etc.
He co-authored several chapters in the Handbook of Real Estate Portfolio Management, of which 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.
Professor Pagliari has served 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, the National Council of Real Estate Investment Fiduciaries and the Pension Real Estate Association. He has presented papers at meetings held by ARES, AREUEA, NCREIF, and NAREIT. Pagliari is a board member of the Real Estate Research Institute (RERI) and a former board member of the Real Estate Information Standards (REIS).
Joseph L. Pagliari, Jr. was presented PREA’s biennial James A. Graaskamp award at PREA's 25th Annual Institutional Investor Real Estate Conference on October 1, 2015 in San Francisco. His body of work embodies the very spirit of the Graaskamp Award which is given to recognize those persons who contribute to the common body of knowledge some practical insights gained through significant research.
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. His interests include sports of many kind--some of which he still plays.