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Hayden School of Real Estate

»Faculty & Staff

At the Hayden School of Real Estate, our faculty and staff are dedicated to advancing real estate education through industry expertise, research, and student support. With experience spanning development, investment, policy, and beyond, they bring real-world knowledge into the classroom and mentorship to every student. Explore our directory to connect with the people who make our programs thrive.

Meet the Executive Director
Photo of Steven Ames
Steven L. Ames
Executive Director, Alexander E. Hayden School of Real Estate
Mr. Ames has nearly four decades of experience in commercial real estate investment with leading firms. He began with six years at Grubb & Ellis, followed by seven years at The Koll Company / CBRE, and most recently spent 26 years in institutional investments at Affinius Capital (formerly USAA Real Estate).

His career has encompassed brokerage, leasing, marketing, and property operations, and—most notably—originating institutional debt and equity investments totaling over $8 billion. During his tenure at Affinius/USAA, the firm’s assets under management grew from approximately $3 billion to over $60 billion.

Mr. Ames served for many years on the Board of Directors of NAIOP Southern California, including two terms as chapter president (2011–2012), and has been on the NAIOP Inland Empire Board of Directors for the past decade. He holds an MBA from the University of Southern California, a Bachelor of Arts from California State University, Fullerton, and the CCIM designation.

Connect with Steven

 

Faculty

photo of Hank Adler

Hank Adler

Professor, Clinical Faculty; Burra Executive Professor of Accounting
Beckman Hall 303H

MBA, University of California, Los Angeles

A former tax partner at Deloitte & Touche, Mr. Adler’s research has been published by
The Wall Street Journal, Tax Notes, Prentice Hall, and Tax Magazine. His interests include theories of taxation and board governance.

Expertise: Accounting; Individual and Corporate Taxes; Board of Directors; Real Estate Tax

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David Berkovitz

Assistant Professor of Business Law, Clinical Faculty
Beckman Hall 308C
JD, Southwestern Law School

Professor Berkovitz has led a private law practice for many years, specializing in contracts, real estate, and other areas of law.
 

Expertise: Contracts; Real Estate; Civil Litigation 

photo of Dr. Gabriele Camera

Dr. Gabriele Camera

Professor of Economics and Finance
Wilkinson Hall 108

Ph.D., University of Iowa

Gabriele Camera
earned a Ph.D. from the University of Iowa and an M.A. from Miami University. His research explores how institutions foster cooperation in society and spans economic theory, experimental economics, and monetary economics. His work has been published in
Econometrica, the American Economic Review, and the Proceedings of the National Academy of Sciences.

Expertise:Financial Markets and Institutions, Applied Theory; Experimental Economics; Macroeconomics; Monetary Economics; Search Theory 
photo of Tim Frenzel

Tim Frenzel

Assistant Professor of Management Science, Clinical Faculty

MS in Artificial Intelligence, University of Texas at Austin

Tim Frenzel has
nearly 20 years of experience in finance, with a specialization in data science, AI, and quantitative modeling. His work focuses on AI-driven alpha generation, risk analytics, and predictive modeling, and he has managed $1.6 billion across multi-asset and hedge fund strategies. He also teaches machine learning and quantitative finance.

Expertise:Data Science; Real Estate Analytics; Artificial Intelligence; Quantitative Finance; Risk Management; Algorithmic Trading

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Dr. Jessica Kim-Gina

Assistant Professor of Accounting

Ph.D., Wharton School, University of Pennsylvania 

Jessica Kim-Gina earned a Ph.D. and M.S. from the Wharton School and a Master's in Law from the University of Pennsylvania. Her research examines the economic effects of inter-firm information sharing, financial reporting, and corporate intangibles. She previously taught at UCLA Anderson and held positions at Cornell University and Goldman Sachs.

Expertise: Financial Accounting; Real Estate Investments; Information Economics; Corporate Intangibles; Intellectual Property

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Joel Kotkin

Presidential Fellow in Urban Futures, R. Hobbs Professorship in Urban Studies, Director of the Center for Demographics and Policy

Joel Kotkin is the Presidential Fellow in Urban Futures at Chapman University and Executive Director of the Center for Demographics and Policy. He is an internationally recognized authority on global economic, political, and social trends and the author of The Coming of Neo Feudalism and The New Class Conflict. He also serves as executive editor of NewGeography.com and writes regularly for national and international publications.

Expertise: Urban Futures; Demographics; Global Trends; Economic and Social Analysis; Policy Research

photo of Fadel Lawandy

Fadel Lawandy

Associate Professor of Finance, Clinical Faculty; Director, Hoag Center for Real Estate and Finance
Beckman Hall 405H

MBA, Norwich University

Fadel
Lawandy is Director of the C. Larry Hoag Center for Real Estate and Finance, and a Professor of Finance and Real Estate at Chapman University. His work spans banking, investment management, and private equity, and he helped establish Chapman’s CUCA100 and CUOC25 equity indices. He holds a B.S./B.A. from Chapman University and an MBA from Norwich University and serves on multiple boards.

Expertise: Corporate Finance; Real Estate Finance; Investments; Valuations; Real Estate Forecast 
photo of Dr. Mitchell Warachka

Dr. Mitchell Warachka

Professor of Finance, Hoag Chair in Real Estate
Beckman Hall 405G

Ph.D., Cornell University

Dr. Warachka earned his Ph.D. from Cornell University and an MBA from the University of Chicago. His research focuses on asset pricing and household finance, with publications in leading finance journals, including the Review of Financial Studies, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, and Management Science. He has taught corporate finance, derivatives, and international finance in the U.S., China, and Singapore.

Expertise: Asset Pricing; Real Estate Finance; Household Finance; Corporate Finance; Derivatives; International Finance

 

Other Researchers

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Dr. Vernon Smith

George L. Argyros Endowed Chair in Finance and Economics; Professor of Economics and Law; Smith Institute for Political Economy and Philosophy
Nobel Prize in Economics, 2002
Ph.D., Harvard University

Dr. Smith earned the 2002 Nobel Prize in Economics for his pioneering work in experimental economics.  He has published hundreds of articles and books on capital theory, finance, natural resource economics, and experimental economics. He has served or currently serves on the board of editors of the American Economic Review, The Cato Journal, Journal of Economic Behavior and Organization, the Journal of Risk and Uncertainty, Science, Economic Theory, Economic Design, Games and Economic Behavior, and the Journal of Economic Methodology. He is a past president of the Public Choice Society, the Economic Science Association, and the Association for Private Enterprise Education.  

Dr. Smith co-authored “Rethinking Housing Bubbles: The Role of Household and Bank Balance Sheets in Modeling Economic Cycles,” which documented the link between housing bubbles and the Great Depression, as well as other deep recessions, over more than 100 years of data.

Dr. Smith is a distinguished fellow of the American Economic Association, an Andersen Consulting Professor of the Year, and the 1995 Adam Smith Award recipient conferred by the Association for Private Enterprise Education. He was elected a member of the National Academy of Sciences in 1995 and received Caltech's Distinguished Alumni Award in 1996

photo of Dr. James L. Doti

Dr. James L. Doti

Professor; President Emeritus; Rick Muth Family Chair in Economics
Ph.D., University of Chicago

Dr. Doti earned a Ph.D. from the University of Chicago and served as President of Chapman University for 25 years. For nearly 50 years, he has published his legendary economic forecast through the A. Gary Anderson Center for Economic Research. He is the leading expert in regional economic forecasting, as well as the foremost authority on real estate market conditions. Dr. Doti has published several books, including the recently publishedUsing Data Analytics to Drive Transformational Change: The Chapman University Model”. He has published numerous op-ed pieces, including in the Wall Street Journal.

Expertise: Econometrics; Macroeconomics Forecasting; Real Estate Market Conditions  

photo of Dr. Mark DeSantis

Dr. Mark DeSantis

Associate Professor of Finance
Beckman Hall 405A

Ph.D., University of Pittsburgh 

Dr. DeSantis is an Associate Professor of Finance with a Ph.D. and M.A. from the University of Pittsburgh. His research focuses on behavioral finance, including asset price dynamics, market efficiency, and factors influencing traders’ earnings. Prior to his academic career, he worked as a consultant for Deloitte Consulting.

Expertise: Experimental Finance; Behavioral Finance; Asset Price Dynamics
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Dr. Steven Gjerstad

Presidential Fellow, Economic Science Institute
Wilkinson Hall 119

Ph.D., University of Minnesota 

Steven Gjerstad is a Presidential Fellow in the Economic Science Institute at Chapman University with a Ph.D. and M.A. from the University of Minnesota. His research focuses on experimental economics, market self-regulation, and the application of AI in financial markets. He has published inGames and Economic Behavior, Economic Theory, and the Journal of Economic Dynamics and Control. Dr. Gjerstad co-authored with Nobel Laureate Vernon Smith “Rethinking Housing Bubbles: The Role of Household and Bank Balance Sheets inModeling Economic Cycles.

Expertise: Experimental Economics; Real Estate Bubbles; Market Self-Regulation; AI in Finance; Financial Crises; Time Series Analysis

photo of Dr. Prashanth Nyer

Dr. Prashanth Nyer

Associate Professor of Marketing
Beckman Hall 403I

Ph.D., University of Michigan

Dr. Nyer is a Professor of Marketing with a Ph.D. from the University of Michigan. His research focuses on consumer behavior, including satisfaction, attitude change, and cross-cultural differences, and has been published in journals such as the Journal of the Academy of Marketing Science and the International Journal of Research in Marketing. He has taught marketing and advertising management and previously worked in product management in the consumer products and industrial electronics industries.  Dr. Nyer is also an expert on the economics of residential solar panels.

Expertise: Consumer Behavior; Customer Satisfaction; Economics of Residential SolarPanels; Marketing Management; Advertising; Cross-Cultural Marketing

photo of Dr. Raymond Sfeir

Dr. Raymond Sfeir

Professor; Vice Provost for Academic Administration; Director, Anderson Center for Economic Research; A. Gary Anderson Chair of Economic Analysis
Beckman Hall 306F

Ph.D., University of California, Santa Barbara 

Raymond Sfeir is Director of the A. Gary Anderson Center for Economic Research at Chapman University, with a Ph.D. in Economics from the University of California, Santa Barbara. He teaches microeconomics, statistics, and forecasting, and his research focuses on operations research, capital asset pricing, and applied economics. Dr. Sfeir produces the economic forecasts for California, Orange County, and the Inland Empire, and conducts the quarterly survey of purchasing managers in California.  His macroeconomic forecasting work focuses on real estate market conditions, construction activity, and mortgage rates, as well as indicators of employment and economic growth.

Expertise: Economic Forecasting; Real Estate Market Conditions; Applied Economics; Operations Research; Capital Asset Pricing; Statistics

photo of Marshall Toplansky

Marshall Toplansky

Associate Professor of Marketing and Analytics; Clinical Faculty

MBA, Harvard University

With an MBA from Harvard University, Marshall Toplansky teaches and researches analytics, AI, and machine learning, focusing on strategies that drive competitive advantage and economic growth. Previously, he co-founded two companies, led KPMG’s Lighthouse Center of Excellence in Data and Analytics, and was inducted into the Computer Industry Association's Technology Hall of Fame.Professor Toplansky is a Research Fellow of the Center for Demographics and Policy, with research focusing on the economic vitality and housing markets in California housing markets, economic vitality, public policy to promote innovation, and demographic and migration trends in the United States.

Expertise: Analytics; Artificial Intelligence; Housing Market Trends;Machine Learning; Business Strategy; Data-Driven Decision Making

 

Staff

photo of Steven Ames

Steven Ames

Executive Director, Alexander E. Hayden School of Real Estate
(714) 516-5146
photo of Mahnaz Asghari

Mahnaz Asghari

Associate Director, Center for Demographics and Policy
(714) 744-7635
photo of Karolina Krautstenglova

Karolina Krautstenglova

Assistant Director, MS in Real Estate
Beckman Hall 308K
(714) 289-3135
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Matt Lightner

Specialist, MS in Real Estate
(714) 516-5549
photo of Richard Ramirez

Richard Ramirez

Assistant Director, Janes Financial Center
Beckman Hall 208
(714) 516-4564

 

Student Ambassadors

photo of Paris Pescatore '26

Paris Pescatore '26

Student Ambassador, Real Estate
photo of Matt Salerno '26

Matt Salerno '26

Student Ambassador, Real Estate

 

Hayden School of Real Estate

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Email: realestate@chapman.edu

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