IIJournals JPM-Special Real Estate Article Collection | Page 12

role in strategy development and execution—the kind
of role that the industry as a whole is now focusing on,
years later.
The creation of PPR also fulfilled Susan’s entrepreneurial ambitions. In addition to her research vision,
she had a very clear view of how to run a business.
She was most actively involved with clients whose businesses and strategies were innovative and additive to the
industry, and she turned down clients whose strategies
she viewed as taking on unmanageable risk. She was
very proud when PPR was named to the Inc. 500 list
of fastest-growing companies in 1999.
It was during this period, the mid- to late-1990s,
when her writing became more prolific, publishing
many articles on the application of modern portfolio
theory in real estate. Susan wrote about issues across
the quadrants, consistently focusing on topics related to
diversification. In addition, she began publishing Real
Estate/Portfolio Strategist at PPR, which allowed her to
write more freely in her natural, irreverent tone, with
generous use of question marks and exclamation points!
She also continued with her pithy “News You Can Use”
commentary on markets, strategies, and the industry.
During these years, she was heavily involved in
major industry organizations. In 1995, Susan was an early
winner of the PREA Graaskamp Award for Research
Excellence, recognizing her practical research. She spent
several years on the PREA Board—including a term
as chairman. Moderating conferences and pushing for
real estate to be a greater part of the CFA curriculum,
Susan served as a major voice for real estate within the
Association for Investment Management and Research

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(now, the CFA Institute). Susan was a very active speaker
during these years, and most people remember her in
settings where engagement and debate was encouraged,
serving as a panelist or moderator.
Susan sold PPR in 2002 but remained active in
the business for two years before phasing herself out
of the firm. However, she became even more broadly
involved in the industry. As she said herself, she wanted
to create an interesting por