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Dr. Peter Linneman is a Principal of Linneman Associates, KL Realty, and American Land Funds, and is the Albert Sussman Emeritus Professor of Real Estate, Finance, and Business Public Policy at the Wharton School of Business at the University of Pennsylvania. He was a member of Wharton’s faculty for 32 years, founding Wharton’s Real Estate Department and the Zell-Lurie Real Estate Center. He is the founding co-editor of The Wharton Real Estate Review and has published over 80 articles during his career.

Dr. Linneman is widely recognized as a leading strategic thinker and investor, and has been cited as one of the 25 Most Influential People in Real Estate by Realtor Magazine, and one of the 100 Most Powerful People in New York Real Estate by the New York Observer. He is a highly sought-after speaker, appearing as the keynote speaker at numerous major industry conferences.

His quarterly research publication, The Linneman Letter, has been perhaps the most highly regarded publication in the real estate industry for the past 11 years. His book, Real Estate Finance and Investments: Risks and Opportunities, (now in its 3rd Edition) has been adopted at over 70 leading universities, and is the leading primary reference source in real estate finance and investment.

For more than three decades Dr. Peter Linneman has been a critical influence in driving the professionalization of real estate capital markets and the commercial real estate industry. Thousands of global and regional real estate investment professionals look to Linneman Associates’ insights each quarter through subscriptions to The Linneman Letter.

Academic Appointments

Business Positions

  • 2011-present CEO and Founder, KL Realty
  • 2009-present Trustee of Urban Land Institute
  • 1978-present Principal, Linneman Associates
  • 2006-2016 Chief Economist, NAI Global
  • 2005-2012 Partner, Gerber-Taylor Realty Fund
  • 2005-present CEO and Founder, American Land Funds
  • 2000-present Author, The Linneman Letter
  • 1994-present Organizer/Sponsor/Moderator, Marshall Bennett Classic Roundtable
  • 1994-2009 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 Finance & Investments: Risks and Opportunities, (2003), 1st, (2004), 2nd, (2011) 3rd, (2013) 3.1 ed., 4th ed. (Spring 2016, Linneman Associates).


  • PhD., Economics, University of Chicago, 1977
  • M.A. Economics, University of Chicago, 1976
  • B.A., Ashland College, 1973

Awards & Honors

  • Named one of “50 Commercial Real Estate Experts You Should Follow on Twitter” by 2015 and published at /blog/entry/50-commercial-real-estate-experts-you-should-follow-on-twitter.
  • Named one of (30 leaders) The Most Influential People in Real Estate, by Commercial Property Executive, June 2013
  • 2012 Honored for Lifetime Achievement by Gazit Global Real Estate Institute, Interdisciplinary Center in Israel. 2012 Honored by the Swiss American Chamber of Commerce
  • Samuel Zell and Robert Lurie Real Estate Center’s Lifetime Achievement Award 2011 for continued dedication to education and the real estate industry.
  • 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.L:/BIOS/2017 PL CV khupdates 12 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, 1995
  • 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, Regency Centers, 2017-present
  • Director, Paramount Group Real Estate, 2014- present
  • Director, Commonwealth Real Estate Investment Trust, 2014- present
  • Director, I Have A Dream Foundation, 2013-present
  • Director, Dragon Acquisition Corporation, 2010-2012
  • Director, Atrium European Real Estate, Ltd., 2008-2017
  • Founder/Chairman, Save A Mind, Give A Choice, 2003-present
  • Advisory Board, E.X. Capital Partners, LLC, 2005-2007
  • Advisory Board, Sequence Capital, 2004-2012
  • Director, AG Mortgage Investment Trust, 2011-present
  • Director, J E Robert Income Trust, 2004-2011
  • Director, Bedford Properties, 2003-2006
  • Advisory Board Member, American Asset Corp, 2003-2006
  • Advisory Board Member, Paramount Realty Fund 2003-2014
  • Director, Equity One, Inc. (Executive Committee), 2000-2017
  • 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, 1993-1996
  • 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, 1996-2008;
  • Metropolis Investment Holdings Inc., 2008-2016
  • Director, Equity Office Properties (Executive Committee), 1997- 1998

Partial List of Publications

  • Corporate Real Estate,” Chapter 9 in H. Kent Baker and Peter Chinloy, eds., Private Real Estate Markets and Investments, New York: Oxford University Press (2014).
  • Corporate Real Estate, Real Estate – Markets and Investment Opportunities, Chapter 23 (forthcoming 2014, Oxford University Press).
  • The Biggest Problem Facing Real Estate Today, Wharton Real Estate Review, Issue 16.1 (Spring 2012).
  • Capital Is Back: The Search For Yield Returns, Wharton Real Estate Review, Volume XV, Number II (Fall 2011).
  • From Young Turk to Dead Wood, Wharton Real Estate Review, Volume XV, Number I (Spring 2011).
  • Shrinking Cities Revisited, Wharton Real Estate Review, Volume XV, Number I (Spring 2011) co-authored with Witold Rybczynski)
  • The Great Panic, Wharton Real Estate Review, Volume XIV, Number I (Spring 2010).
  • Responsibility for and Performance of Corporate Real Estate Functions, Journal of Corporate Real Estate, co-authored with Hartmann, S., Pfnur, A., Moy, D., Siperstein, B. Volume 12 (1):7-25, (2010).
  • The Subprime Mortgage Crisis: A View of Ground Zero of the “Great Capital Strike” Wharton Real Estate Review, Volume XIII, Number II (Fall 2009), co-authored with Man Cho.
  • Unraveling Housing Price Inflation. Wharton Real Estate Review, Volume XIII, Number II (Fall 2009), co-authored with Manhong Feng.
  • Is This The Worst Ever Yet? Wharton Real Estate Review, Volume XIII, Number I (Spring 2009).
  • Realizing the Value of Corporate Real Estate Management, Wharton Real Estate Review, Volume XIII, Number I (Spring 2009), co-authored with Hartmann, S., Pfnür, A., Siperstein, B.
  • Is this the Worst Ever? Wharton Real Estate Review, Volume XII, Number II (Fall 2008), co-authored with John Williams.
  • Handbook Real Estate Capital Markets: an international perspective on functionality, subprime crisis and future developments. The connection between capital and physical markets: drivers of real estate, chapter 2, pp 49-57. Co-authored with Anderson, S., Barclay, J.A., Bentzien, D-K.V., Brämisch, D-K. F., Butz, P., Damaske, al, Nico Rottke (ed) (2008).
  • How We Got To The Credit Crisis, Wharton Real Estate Review, Volume XII, Number I (Spring 2008).