The Counselors of Real Estate® Launches New Economic Advisory Council

Esteemed group of American and European economic advisers available to share expert insights and solutions to complex real estate issues 

CHICAGO (April 12, 2022) — The Counselors of Real Estate® (“CRE®”) global organization today announced the formation of its inaugural Economic Advisory Council, which currently includes a team of economists based in the U.S. and Europe. Each member is renowned for her or his reputation for economic forecasting based on research, data and empirical evidence, and can discuss issues, trends and developments – including those of a regulatory, legislative or socio-economic nature – that have a current or future impact on real property and communities.

“With myriad domestic and international economic issues at the forefront of business decisions, we’ve convened top thought leaders representing The Counselors of Real Estate® to offer analysis and interpretation on how economic indicators, fiscal policies and property market data are impacting commercial real estate asset classes and the industry,” said Marilee Utter, CRE®, global chair of The Counselors of Real Estate®. “As Counselors, our economic advisors are accredited, accomplished leaders dedicated to sharing knowledge and finding solutions to complex real estate challenges – not only for clients, but for the betterment of communities worldwide.”

The Economic Advisory Council is available to offer industry perspective to local, national, and global media outlets, and can serve as guest speakers for events, webinars, and podcasts. Analysis from Council members will also help shape this year’s “Top Ten Issues Affecting Real Estate®,” an annual report highlighting current and emerging issues across real estate, nationally and internationally, as determined by polling, discussion, and debate among The Counselors of Real Estate’s broader membership, which consists of 1,000 accredited real estate professionals in 21 countries.

Members of The Counselors of Real Estate’s Economic Advisory Council are:

  • Chair Hugh Kelly, Ph.D., CRE®, based in New York, was Fordham’s Real Estate Institute director of academic affairs, member of its Executive Advisory Council, curriculum committee chair, and coordinator of the mentorship program from 2017 to 2021. Previously, he was a founding faculty member of New York University’s Master’s Degree in Real Estate program and taught from 1988 through 2016. Dr. Kelly is principal of Hugh Kelly Real Estate Economics and served as chair of The Counselors of Real Estate® in 2014.
  • Victor Calanog, Ph.D., CRE®, based in New York, is head of commercial real estate economics at Moody’s Analytics. He and his team of economists and analysts are responsible for the firm’s commercial real estate market forecasting, valuation and portfolio analytics services. His research has earned awards and fellowship support from several institutions, including the Ford Foundation, the Russell Sage Foundation and the Lauder Institute, part of The Wharton School of the University of Pennsylvania.
  • Jim Costello, CRE®, based in New York, is senior vice president of MSCI/ Real Capital Analytics. He has worked in the commercial real estate industry with a focus on urban economics since 1990, developing forecasts of global market fundamentals and frameworks on asset values and relative investment opportunities.
  • Joshua Harris, Ph.D., CRE®, based in New York, is vice president of strategy for Skanska USA Commercial Development with expertise in economic development, market research, expert testimony and financial/project consulting. As head of the firm’s strategy and research, he coordinates all business planning, market analysis and research initiatives.
  • Will McIntosh, Ph.D., CRE®, based in San Antonio, Texas, is global head of research for USAA Real Estate, where he is instrumental in developing commercial real estate investment strategy and managing in-house research with the objective of informing and enhancing the real estate investment process. He has served as the head of real estate research and strategy for several of the largest investment managers in the world, including Prudential Real Estate Investors, AIG Global Real Estate Investment and ING Real Estate.
  • Douglas Poutasse, CRE®, based in the Boston area, is a strategist with over 35 years of experience as an economic analyst and forecaster. He previously served as managing director, head of strategy and research, at BentallGreenOak, with responsibility for overseeing the strategy of U.S. and Canadian investments and directing the research teams.
  • Melissa Reagen, CRE®, based in New York, is managing director, portfolio manager for Nuveen Real Estate. She oversees the investment and portfolio allocation decisions for Nuveen’s U.S. Strategic Alternatives Fund. Previously, Reagen led Nuveen’s team of research and strategy professionals focused on the U.S. real estate market which helped inform all investment decisions.
  • Inga Schwarz, CRE®, based in Hamburg, Germany, is head of research for BNP Paribas Real Estate, where she is responsible for the firm’s research products including the development of new research tools. She has 20 years of real estate experience in the German commercial real estate market with a focus on office, retail, and logistics, both in terms of leasing and investment.
  • Hans Vrensen, CRE®, based in London, is head of research and strategy, AEW Europe LLP, and responsible for directing the firm’s research activities in Europe. He is charged with monitoring, evaluating and forecasting the macroeconomic environment, demographic trends and capital market conditions across Europe. He is a member of the AEW European Investment Committee and Global Securities Allocation Committee.

About The Counselors of Real Estate®:

The Counselors of Real Estate® is an international organization of commercial property professionals from leading real estate, financial, law, valuation, and business advisory firms, as well as real property experts in academia and government. Membership is selective and extended by invitation, although commercial real estate practitioners with 10 years of proven experience may apply.

Counselors have resolved the dispute between the developer of the World Trade Center and its insurers post September 11, led the privatization of U.S. Army Housing, developed a multi-billion-dollar, 10-year real estate master plan for Philadelphia Public Schools, created and endowed the MIT Center for Real Estate, and valued both the Grand Canyon and Yale University. Counselors reside in 21 countries and U. S. territories, with only 1,000 professionals holding the CRE® credential worldwide. For more information on The Counselors of Real Estate®, visit

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