Smeal's Ambrose named co-editor of real estate journal

UNIVERSITY PARK, Pa. -- Brent Ambrose, Smeal Professor of Risk Management and director of the Institute for Real Estate Studies (IRES) in the Penn State Smeal College of Business, is one of three newly selected editors of Real Estate Economics, a publication of the American Real Estate and Urban Economics Association (AREUEA), the leading academic journal devoted to real estate related topics.

Ambrose, along with Sumit Agarwal and Abdullah Yavas, will take over editorial duties Jan. 1, 2015. Agarwal is an associate professor at the National University of Singapore. Yavas is the Department Chair of Real Estate at the University of Wisconsin-Madison’s Wisconsin School of Business and previously was a Smeal faculty member in real estate.

“Penn State is one of a small handful of universities that have had multiple faculty members serve as AREUEA president and/or as editor of Real Estate Economics,” said Jaffe. “Penn State has also been known as a center of excellence in real estate since the program began in the mid-1970s.”

Smeal faculty in real estate have a long history of leadership in AREUEA, including as editors of Real Estate Economics, according to Austin Jaffe, who leads Smeal’s Department of Risk Management.

Ken Lusht, professor emeritus of business administration in the Department of Risk Management, served as president in 1987, Jaffe served as president in 1994 and Ambrose was president in 2010.

Edward Coulson, professor of business economics and King Fellow in Real Estate, is one of the outgoing editors of Real Estate Economics, along with Cornell University’s Crocker Liu and the Massachusetts Institute of Technology’s Walter Torous.

Ambrose, also the director of doctoral programs in Smeal, specializes in real estate finance, corporate finance and fixed income security analysis. He earned his bachelor of science in business from Wake Forest University in 1986 and an master of business administration in finance and doctorate in real estate from the University of Georgia in 1987 and 1989, respectively.

AREUEA is a nonprofit association that serves the need for information and analysis in the fields of real estate, planning and economics. Its journal, Real Estate Economics, is published quarterly and contains research and scholarly studies of current and emerging real estate issues.