Staff Profile:Professor Andrew Baum

Name:

Professor Andrew Baum

Job Title:

Director of Enterprise, Professor of Land Management

Responsibilities:

Areas of Interest:

International real estate investment; the structuring of property portfolios; property finance and investment; indirect property and derivative vehicles; emerging and developing markets

Research groups / Centres:

Centre for Real Estate Research

Publications:

Qualifications:

BSc (Hons), University of Reading (Estate Management)
MPhil, University of Reading (by research)
PhD University of Reading
Fellow of the Royal Institution of Chartered Surveyors
Associate of the Society of Investment Professionals (CFA Society of the UK)

Afflilations

Honorary Professor of Real Estate Investment, University of Cambridge

Profile:

Andrew Baum is a part-time professor at the University of Reading and active in business (Chairman of Property Funds Research, member of the investment committee for CBRE Investors' global multi manager team, a member of the Supervisory Board for the Schroder Exempt Property Unit Trust; and from 2000 to 2007 a non-executive director of Grosvenor Limited). He has worked as an expert witness in areas related to real estate economics and finance. His teaching and research interests are focussed on internal real estate investment, and he is the author or co-author of several textbooks in the filed of property valuation and property investment.

CBRE Investors' global multi manager team (CBREi GMM) was formed upon the acquisition by CBRE of OPC, which Andrew founded in 2001. OPC created Europe's first dataset describing unlisted property funds, launched the first core real estate fund of funds vehicle in Europe, and became one of the world's leading specialists in indirect property investment. CBREi GMM now has approaching £3bn of indirect property assets under management. OPC's information business was re-acquired by its management and Andrew chairs the new entity, Property Funds Research. PFR's global database now includes over 2,000 unlisted funds, 1,000 fund managers and 3,000 investors. PFR was sold to Feri Eurorating in 2008.

He is an instructor on the Harvard University Advanced Management Program, USA, a visiting professor at the Kenan-Flagler Business School at the University of North Carolina, and a Fellow of the Amsterdam School of Real Estate, Netherlands. He is also founder and president of The Reading Real Estate Foundation, an educational charity established to support real estate education at the University of Reading.

Recent Awards and Prizes:

• Elected Academic Fellow of the Urban Land Institute, 2001, the first such election outside the USA.
• Elected honorary fellow of the Society of Property Researchers, 2002 "in recognition of an outstanding contribution in the field of property research

Selected Recent Publications:

• Baum, A (2009), Commercial Real Estate Investment, a Strategic Approach, London, Estates Gazette, second edition. First edition: 2002.
• Baum, A (2008) The Emergence of Real Estate Funds, in Peterson, A (ed.) Real Estate Finance: Law, Regulation and Practice, London, LexisNexis
• Baum, A and Crosby, N (2008), Property Investment Appraisal (Third edition), Oxford, Blackwell Publishing (319pp). First edition: 1988; second edition: 1995 (Routledge).
• Baum, A and Devaney, S (2008) Depreciation, Income Distribution and the UK REIT, Journal of Property Investment and Finance, Vol 26 No 3, pp 195-209
• Baum, A (2007) Managing Specific Risk in Property Portfolios, Property Research Quarterly (NL) Vol 6 No 2 pp 14-23
• Baum, A (2006) Real estate investment through indirect vehicles: an initial view of risk and return characteristics, in Bone Winkel et al, Stand und Entwicklungs – tendenzen der Immobilienokonomire, Germany, Rudolf Muller
• Baum, A and Sams, G (2006), Statutory Valuations (Fourth Edition), London, Estates Gazette First edition: 1983 (Andrew Baum), Second edition: 1989 (Andrew Baum and Gary Sams). Third Edition: 1997, London, Routledge (322 pp).
• Baum, A and Mackmin, D (2006) The Income Approach to Property Valuation (Fifth Edition), London, Estates Gazette (334pp).First edition: 1979, Second edition: 1981, Third edition: 1989, Fourth Edition: 1996, all London, Routledge.
• Baum, A (2004) International Real Estate: An Institutional Approach, the United Kingdom, in Seabrooke, Kent and How, International Real Estate: An Institutional Approach, Oxford, Blackwell pp 262-292
• Baum, A and Turner, N (2004) Retention Rates, Re-Investment And Depreciation In European Office Markets, Journal of Property Investment and Finance, Vol 22 No 3, pp 214-235 (Literati Club highly commended paper)
• Baum, A, Crosby, N, McAllister, P, Gallimore, P and Gray, A (2003) Appraiser behaviour and appraisal smoothing: some qualitative and quantitative evidence, Journal of Property Research Volume 20, Number 3, September, pp. 261 - 280