




Linneman Associates
Cira Centre
2929 Arch Street, 28th Floor
Philadelphia, PA 19104-2868
Tel: 215 636 8490
Fax: 215.636.8495
American Land Funds and
KL Realty The Victory Building
1001 Chestnut Street, Suite 101
Philadelphia, PA 19107-4219
Tel: 215 599 2180 Ext. 202
Fax: 215.599.2280
plinneman@americanlandfund.com

1997- 2012 Co-Editor of The Wharton Real Estate Review
1990-97-Chairman, Wharton Real Estate Department/Unit, the Wharton School of Business, University of Pennsylvania
1987- 2011 Albert Sussman Professor of Real Estate, Finance, and Public Policy, the Wharton School of Business, University of Pennsylvania
1986-97-Director, Samuel Zell and Robert Lurie Real Estate Center at the Wharton School of Business, University of Pennsylvania
1988-89-Professor of Finance and Public Policy, the Wharton School of Business University of Pennsylvania
1984-88-Associate Professor of Finance and Public Policy, the Wharton School of Business, University of Pennsylvania
1979-84-Assistant Professor of Finance and Public Policy, Wharton School, University of Pennsylvania
1978-79-Assistant Professor of Business Economics, Graduate School of Business, University of Chicago
1977-79-Post Doctoral Fellow in Economics, Center for the Study of the Economy and the State, University of Chicago

2011 -present CEO and Founder,KL Realty
1978 - present Principal, Linneman Associates
2009 - present Trustee of Urban Land Institute
2006 - present Chief Economist, NAI Global
2005 - present Partner, Gerber-Taylor Realty Fund
2005 - present CEO and Founder, American Land Fund
2000 - present Author, The Linneman Letter
1994 - present Organizer/Sponsor/Moderator, Marshall Bennett Classic Roundtable
1994 - present Member, Urban Land Institute Capital Markets Group
1997 - 98 Vice Chairman, Amerimar Realty
1998 - 99 Senior Managing Director, Equity International Properties, Ltd., and Vice Chairman of Equity Group Investments, Inc.

Real Estate Entrepreneurship
International Real Estate Comparisons
Real Estate Development
Real Estate Finance and Investments
Urban Economics
Mergers and Acquisitions
Microeconomics
Industrial Relations
Economics and Regulation
Macroeconomics
Finance Seminar
Public Policy and Private Development
Research Seminar

Has chaired approximately 20 doctoral theses and served on an additional 20 Ph.D. theses committees.

Economic Outlook - We've Found Bottom! Professional Report SIOR, 1st quarter, Volume, Number 1, pp. 6 -9 (2010)
Economic Outlook – the Good, the Bad, and the Ugly, Professional Report SIOR, 1st quarter, Volume 68, Number 1, pp 6-9 (2009)
Professionalizing an Industry; REITs Impact on Multifamily, Multifamily Executive, pp 74, 88, (November 2000)
Real Estate Today: New Strategic Moves, Commonfund Quarterly, pp 3-6 (Fall 2000)
Will We Need More Office Space, Urban Land, Volume 56, #5, pp. 11, 69 (May 1997).
A Look Forward to Real Estate Capital Needs, Urban Land, October 1995, pp. 21.
The World According to Zell, Urban Land, September 1994, pp.25-29.
Understanding Real Estate Markets, (Epilogue), Real Estate Development Manual, 1992-1993 update, edited by Jerome B. Alenick, Warren Gorham Lamont, pp. E7-E10.
How Do We Get Out Of This Mess ?, Baring Investment Property Report, Vol. 3, #3, pp. 1-3, (September 1991).
Real Estate Capital Markets: Healthy Diet or Anorexia ?, Baring Investment Property Bulletin, Vol. 2, #5, pp. 5, (December 1990).
Diversification Potential: Linkages Among Targeted Markets in The Empire State, Baring Investment Property Bulletin, Vol. 2, #3, p.4, (July/August 1990).
Real Estate and Inflation, Baring Investment Property Report, Vol. 2, #1, pp. 4-5, (January/February 1990).
Limitations of the FRC Index, Baring Investment Property Bulletin, Vol. 1, #2, pp. 1-4, (September 1989).
Comments on "Technology and Financial Services: Regulatory Problems in a Deregulated Environment" (by Almarin Philips and Mitchell Berlin), Services in Transition, pp. 73-75.
Comments on "A Note on Information Technology, Demographics, and the Retail Response" (by George Steinleib and James W. Hughes), Services in Transition, pp. 175-177.
Book review of Deregulation and the New Airline Entrepreneurs (by John Meyer and Clinton V. Oster, Jr. et al.), Journal of Economic Literature, Vol. 23, pp. 1820-1822, (December 1985).
Book review of Government and Sport (edited by Arthur T. Johnson and James H. Frey), Journal of Policy Analysis and Management, Vol. 6, #2, pp. 285-286, (Winter 1987).

Outstanding Paper Award at the Literati Network Awards for Excellence 2011 for the article entitled "Responsibility for the performance of corporate real estate functions" published in the Journal of Corporate Real Estate.
Winner of PREA 2009 James A. Graaskamp Award
Named one of The Power 100: The Most Powerful People in New York Real Estate, The New York Observer, June 2009
Outstanding Paper, 2003 Southern Finance Association Conference, Real Estate Economics and Economies of Scale: The Case of REIT.
Named one of the 25 “Most Influential People in Real Estate” by Realtor Magazine, 2003.
Realty Stock Review Special Achievement Award for a scholarly paper with the greatest impact on the industry (for “The Forces Changing the Real Estate Industry Forever”), 1997.
Counselor of Real Estate 1996-1999
Urban Land Institute Research Fellow, 1988-1998, 2000-2007
Coordinator, Wharton Executive Education Mergers and Acquisitions course, 1986-1998
3 Year Research Grant ($300,000) from the Glenmeade Foundation to study urban decentralization, 1987 (co-recipient with Anita Summers)
Recipient of a grant from John M. Olin Foundation to organize and direct the John M. Olin Speaker Series on Political Economy (at Wharton), 1985-1990
Urban Studies Scholar, University of Glasgow, 1985
Outstanding Alumni, Ashland College, 1985

A consultant on real estate finance and investments. Clients have included: Lubert-Adler Real Estate Funds, Equity International Properties, Sunbelt Management, General Electric Capital Corporation, IBM, Michelin Tire, Merrill Lynch, Baring Brothers, AT&T, Chubb & Sons, CIGNA, the Federal Trade Commission, Federal Express, Eastdil Realty, Equity International Realty Investors, the Paramount Group, Microsoft, Commerzbank, Equity Group, Trammell Crow Company, Spectrum Alliance, Opus, Graham Partners, AvalonBay, American Asset Corporation, Kellogg Company, and NAI.

Director, Dragon Acquisition Corporation, 2010 -
Director, Atrium European Real Estate, Ltd., 2008-
Advisory Board, E.X. Capital Partners, LLC, 2005-
Advisory Board, Sequence Capital, 2004-
Director, J E Robert Income Trust, 2004-2010
Director, Bedford Properties, 2003-2006
Advisory Board Member, American Asset Corp, 2003- 2006
Advisory Board Member, Paramount Realty Fund 2003-
Director, Equity One, Inc. (Executive Committee), 2000-
Director, Resolution Capital Group, 2000-2002
Director, Crosland Group, 2000- 2011
Director, GMFS, 1999-2002
Director, Albert Abela Group, 1999-2000
Director, Water Systems Inc., 1999- 2006
Director, Equity International Properties, Ltd., 1998-2000
Managing Director and Vice Chairman of Investment Committee of Amerimar Realty, 1997-1998
Director, Rockefeller Center Properties, 1993-96
Chairman of the Board, Rockefeller Center Properties, 1995-1996
Director, Gables Residential Properties, 1993-1998
Director, Kranzco Realty Trust (Executive Committee), 1992-1999
Director, Universal Health Realty Income Trust, 1986-1998
Director, Sunbelt Properties, 1996-
Director, Equity Office Properties (Executive Committee), 1997-1998
