Institutional real estate today.  Real estate suffers from too many stories and too little science.  Much research pulls punches and fails to tell the whole story.  Often the capital placement team directs research in ways that introduce bias and render it unreliable and useless to investors.

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Investors often suffer from poorly conceived financial products, badly executed strategies, imprudent leverage, and excessive, often hidden, fees.  Deals are opaque and risk is hidden.  Inappropriate benchmarks and lack of appropriate risk metrics are common problems.  Investors are not properly compensated for illiquidity.

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Expert witness services.   The market is flooded with ill-conceived products and bad investment advice.  Investors and partners suffer and legal action is often the only sensible recourse.  We provide expert witness and research services using advanced econometrics and risk-based tools to help clients, judges and juries understand and clearly express complex issues.  Our experience includes serving as expert witness on behalf of the U.S. Department of Labor on ERISA matters.

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A pathbreaking critique of real estate investing.   Pre-order on Amazon or Barnes & Noble Dr. Zisler’s book, Commercial Real Estate Investing—An Evidence-Based Approach to Risk Management, Strategic Valuation and Enhanced Returns, to be published by John Wiley & Sons in the early Fall.  This book is the first evidence-based critique of institutional real estate investment management by a former Princeton professor, executive director of real estate research at Goldman Sachs, and advisor to many pension funds.  He has consummated more than $6 billion of deals that include property, mortgages, and CMBS.  

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Order in bulk.  Contact Dr. Zisler for 20% discounted bulk orders for investors, customers, and managers.

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Workshops.  We conduct hands-on computer demonstrations of risk metrics applied to markets, leases, deals, and portfolios.  These workshops include ways to build include model portfolios with liabilities and shortfall constraints, calculate downside risk, devise and apply risk metrics, and analyze leases, markets, structured deals, and portfolios using Monte Carlo.  Many of the examples are taken from Dr. Zisler’s book.

 

Product design and risk-based analysis.  We design and back-test new financial products and strategies and prepare evidence-based investor strategy papers.  

Investors and managers who are interested in scheduling a full or half-day workshop (which includes books for all attendees) should contact Dr. Zisler.