DR. SPENSER J. ROBINSON

PROFESSIONAL EXPERIENCE (PRE-DOCTORAL PRIVATE SECTOR CAREER DETAILED AT END OF CV)
ROBINSON EXPERTS--EXPERT WITNESS CONSULTING 2015-CURRENT
Expert Witness Consulting-Brokerage, Climate, Contamination, Environmental, ESG, Valuation and related Real Estate consultations. Clients confidential, report, deposition and trial experience.

CENTRAL MICHIGAN UNIVERSITY 2012-CURRENT
Professor and Director of Real Estate Departments of Finance/Law and Entrepreneurship
• Full Professor of Finance and Real Estate, 2021 • Campbell Endowed Professor 2018-Current
• Associate Professor of Entrepreneurship and Real Estate, 2017
• Manage Real Estate Development Program at CMU, including curriculum, advising, and outreach.
• In Entrepreneurship, teach entrepreneurial finance and mentor New Venture Competition contestants. 

.LICENSURES/CERTIFICATIONS CURRENT
ISO 14001:2015 Lead Auditor, ISO 19011:2018 Lead Auditor Series 65,
State of MI Real Estate Broker 

ASTM PROPERTY RESILIENCE ASSESSMENTS OF BUILDINGS TEAM 2022-CURRENT AUTHOR: Member of team developing ASTM standard for Property Resilience Assessment (WK62996)
• This work will supplement other ASTM standards such as Phase I Environmental Site Assessment Process, E2018 Standard Guide for Property Condition Assessment: Baseline Property Condition Assessment Process, and E2026 Standard Guide for Seismic Risk Assessment of Buildings.
 
NAIOP DISTINGUISHED FELLOW 2021- CURRENT
Distinguished Fellow: NAIOP’s Research Foundation’s Distinguished Fellows Program engages the nation’s foremost commercial real estate, economic and public policy experts.
 
MOODY’S LEARNING SOLUTIONS 2021- CURRENT INSTRUCTOR: I
nstructor and course designer for Commercial Real Estate (CRE) Environmental Social Governance (ESG), Instructor for CRE and Advanced CRE Financial Modeling 

JOURNAL OF SUSTAINABLE REAL ESTATE 2016-CURRENT
Co-Editor: Co-Editor for the premiere Sustainable Real Estate field journal. 

AMERICAN REAL ESTATE SOCIETY
     •President Track (2020-2024): Elected to serve as vice-program chair, program chair, President elect and
       then 2024 President of ARES.
     •Chair of Research Committee (2015-Current): Co-lead the research and research outreach efforts of ARES.
     •Board of Directors (2015-2020): Serve as one of 15 elected academic board members.

JOURNAL OF REAL ESTATE LITERATURE EDITORIAL BOARD 2018-CURRENT

CLEVELAND STATE UNIVERSITY 2016-2018
Everson Real Estate Research Fellow
     •Inaugural Research Fellow for the Everson Real Estate Center, promoting innovative research to advance
       knowledge in the field. 

MICHIGAN STATE UNIVERSITY, BROAD COLLEGE OF BUSINESS THE SCHOOL OF HOSPITALITY 2013-2018 Seminar Instructor, Real Estate Finance

PUBLICATIONS
*Publications with alphabetical authorship listings indicate equal contributions by all listed authors. “Big Three” real estate publications listed first, followed by chronological order.

• Robinson, S., Sullivan, G., (2022) Proposed Guidelines for U.S. Scope 2 GHG Reduction Claims with Renewable Energy Certificates, Electricity Journal, 35 (7)
• Robinson, S. and McIntosh, M. (2022) A Literature Review of Environmental, Social, and Governance (ESG) in Commercial Real Estate Journal of Real Estate Literature, Forthcoming
• Lipscomb, C., Robinson S. (2022) Efficiency of 1031 Exchange for Personal Financial Portfolios, Journal of Real Estate Practice and Education, 24:1, 65-71
• Gabe, J., Robinson, S., Sanderford, A., (2022) Willingness to Pay for Attributes of Location Efficiency, Journal of Real Estate and Finance Economics, 65, 384–418
• Gabe, J., Robinson, S., & Sanderford, A. (2022) The Relationship Between School Quality and US Multi-family Housing Rents. The Journal of Real Estate Finance and Economics, 64, 615–645 • Alexandrova, S., Reichert, A., Robinson S. (2022), An Empirical Case Study of Housing Mobility in Corporate Relocations: Equity Constraints and Corporate Incentives, Journal of Real Estate Practice and Education, 24:1, 17-31
• Cloutier, D. Robinson, S., and Sullivan, G. (2021) The Coming U.S. Regulatory Oversight on Climate Disclosure, Real Estate Issues, 45 (28)
• Christensen, P., Robinson, S., and Simons, R.A., (2021) Institutional Investor Motivation, Process, and Expectations for Sustainable Building Investment, Building Research and Information, Forthcoming
• Verma, S., Mandal, S. N., Robinson, S., & Bajaj, D. (2021), Investment appraisal and financial benefits of corporate green buildings: A developing economy case study, Built Environment Project and Asset Management, Forthcoming
• Affholter, J., Robinson, S. and Thomas, J. (2021) Case Study of the New Entrepreneurial Transactions Master Degree: Filling a Gap in Business and Legal, The Journal of Business Law and Ethics Pedagogy 4 (1)
• Verma, S., Mandal, S. N., Robinson, S., & Bajaj, D. (2020). Diffusion patterns and drivers of higher-rated green buildings in the Mumbai region, India: a developing economy perspective. Intelligent Buildings International, 1-21.
• Gabe, J., Robinson, S., Sanderford, A., Simons, R.A., (2020) Lease Structures & Occupancy Costs in Eco-Labeled Buildings. Journal of Property Investment and Finance, 38 (1) • Robinson, S. and Singh, A., (2019) The Impact of Green Labels on U.S. Hotel Net Operating Income: Operating Statements Analyses. Journal of Sustainable Real Estate, Vol 10
• Simons, R. A., Robinson, S., Lee, E., (2019) A Market-Driven Green Office Building Index. Journal of Real Estate Portfolio Management 25, 1 
•Cypher, M., Price, S.M., Robinson, S., Seiler, M., (2018) Signaling, Anchoring, and Loss Aversion in Commercial  Real Estate Transactions. Journal of Real Estate and Financial Economics, 57(2)
•Robinson, S., Simons, R. A., Lee, E., Which Green Office Building Features Do Tenants Pay for? A Study of Observed Rental Effects. (2017). Journal of Real Estate Research, 39 (4), 467-492
•Robinson, S., Sanderford, A. R. (2016). Green Buildings: Similar to Other Premium Buildings? Journal of Real Estate and Financial Economics, 52 (2)
•Robinson, S., Simons, R. A., Lee, E., Kern, A. (2016). Demand for Green Buildings: Office Tenants’ Willingness-to-Pay for Green Features. Journal of Real Estate Research, 38 (2)
•Robinson, S., Reichert, A. (2016). A Commercial Real Estate Matching Method. Journal of Real Estate Research, 37 (4)
•Gabe, J., Robinson, S., Sanderford, A., Simons, R.A., (2020) Lease Structures & Occupancy Costs in Eco-Labeled Buildings. Journal of Property Investment and Finance, 38 (1)
•Verma, S., Bajaj, M. Robinson, S., Mandal, S. (2020) Diffusion patterns and drivers of higher-rated green buildings in the Mumbai region, India: A developing economy perspective. Intelligent Buildings International, Forthcoming
•Robinson, S. and Singh, A., (2019) The Impact of Green Labels on U.S. Hotel Net Operating Income: Operating Statements Analyses. Journal of Sustainable Real Estate, Vol 10
•Simons, R. A., Robinson, S., Lee, E., (2019) A Market-Driven Green Office Building Index. Journal of Real Estate Portfolio Management 25, 1
•Christensen, P., Robinson, S., and Simons, R.A (2018) The Influence of Energy Considerations on Decision Making by Institutional Real Estate Owners in the U.S. Renewable & Sustainable Energy Reviews, 94
•Costa, O., Fuerst, F., Robinson, S. J., & Mendes-Da-Silva, W. (2018). Green label signals in an emerging real estate market. A case study of Sao Paulo, Brazil. Journal of Cleaner Production, 184, 660-670
•Robinson, S., Sanderford, A., (2018) Conditions of Sale Control Variables in Hedonic Analysis of Commercial Real Estate Real Estate Finance, 35(4)
•Jain, P. and Robinson, S., (2018) Do Large Scale Owners Enjoy Brand-Induced Premiums? Journal of Real Estate Portfolio Management, 24(1)
•Robinson, S., Sanderford, A. R., (2017) Hedonic Models and the Inclusion of Conditions of Sale in Commercial Real Estate Transactions: A Review of the Literature. Journal of Real Estate Literature, 25(2), 311-326.
•Simons, R. A., Robinson, S., Lee, E., Bragg, A., (2017) The Quadruple Bottom Line: Tenant Views of Corporate Responsibility in Green Office Buildings. Journal of Sustainable Real Estate, 9(1), 153-171.
•Jain, P., Robinson, S., Singh, A.J., and Sunderman, M., (2017). Hospitality REITs and Financial Crisis: a Comprehensive Assessment of Market Quality. Journal of Property Investment and Finance, 35 (3)
•Robinson, S., Sanderford, A. R., (2016) The Effects of Conditions and Context on Office Building Sales 2002-11. The Appraisal Journal, 84 (4)
•Robinson, S., Singh, A.J., and Das, P., Financial Impact of LEED and Energy Star Certifications on Hotel Revenues: Evidence from U.S. Hotels. (2016) Journal of Hospitality Financial Management, 24 (2)
•Christensen, D., Robinson, S., and Simons, R.A. (2016) The Application of Mixed Methods: Using a Crossover Analysis Strategy for Product Development in Real Estate Journal of Real Estate Literature, 24 (2)
•Robinson, S. and McAllister, P. (2015). Heterogeneous Price Premiums in Sustainable Real Estate? An Investigation of the Relationship between Value and Price Premiums. Journal of Sustainable Real Estate, Volume 7
•Sanderford A.R., Christensen D., Gabe, J. and Robinson, S. (2015). Future Leaders of American Real Estate Society. Journal of Real Estate Practice and Education, 18(2), 163-177
•Simons, R. A., Robinson, S., Lee, E. (2014). Green Office Buildings: A Qualitative Exploration of Green Office Buildings Attributes. Journal of Sustainable Real Estate, Volume 6.
•Simons, R. A., Seo, Y, Robinson S. (2014). The Effect of a Large Hog Barn Operation on Residential Sales Prices. Journal of Sustainable Real Estate, Volume 6.
•Chapter publication: Robinson, S., Simons, R. A. (2018). Creating a Green Index Based on Tenant Demand for Sustainable Office Buildings And Features. In: Wilkinson, S., Dixon, T., Miller, N., & Sayce, S. (2018). Routledge handbook of sustainable real estate. Routledge.
•Chapter publication: Robinson, S. (2016). Underwriting Transitional Assets. Commercial Real Estate Financial Council Chapter for High Yield Distressed Asset E-Primer.  

BOOK AND TRADE PUBLICATIONS:

• ResCentric (2022): How Your Journey with Climate Analytics Can Build on Practices You Already Know
• Urban Land Institute publication (2022) US, Europe and Asia Pacific: How to choose, use, and better understand climate risk analytics (2022), Urban Land Institute. Robinson and Sanderford • Institutional Investing in Infrastructure (i3) (2022) Opportunities in infrastructure creating carbon offsets (2021), Institutional Real Estate, Inc. Robinson and Sullivan, Vol 14 Number 11.
• Podcast: Multifamily and School Quality Capitalization, Institutional Real Estate, Inc. Gabe, Robinson and Sanderford
• Financial Management Journal (2022): SEC’s Proposed Climate Rule—What FM’s need to know, Facilities Management Journal, Robinson and Sullivan. July 2022
• Chapter publication: Robinson, S., Simons, R. A. (2018). Creating a Green Index Based on Tenant Demand for Sustainable Office Buildings and Features. In: Wilkinson, S., Dixon, T., Miller, N., & Sayce, S. (2018). Routledge handbook of sustainable real estate. Routledge.
• Chapter publication: Robinson, S. (2016). Underwriting Transitional Assets. Commercial Real Estate Financial Council Chapter for High Yield Distressed Asset E-Primer.
  
EDUCATION
CLEVELAND STATE UNIVERSITY, MONTE AHUJA SCHOOL OF BUSINESS, 2013
• Doctorate of Business Administration in Finance and Real Estate

UNIVERSITY OF SOUTHERN CALIFORNIA, IBEAR, MARSHALL SCHOOL OF BUSINESS, 2003
• Master in Business Administration—International and Financial Management
• IBEAR, International Business Education and Research student
• Class President

UNIVERSITY OF MICHIGAN, ANN ARBOR, 1994 BACHELOR OF LIBERAL ARTS   

AWARDS / RECOGNITION/ GRANTS
REAL ESTATE RESEARCH INSTITUTE (RERI) 2021
• Awarded $15,000 grant with Jeremy Gabe, Andrew Krause and Drew Sanderford to study measurable spatial impact on cap rate and related risk.

NATIONAL SCIENCE FOUNDATION GRANT 2019
• Co-PI on $50,000 Sustainable Urban Systems grant with partners: Drs. Regina Gray (HUD), David Des Marais (MIT), Andrew Sanderford (UA) and Bing Wang (Harvard).

BEST PAPER JOURNAL OF REAL ESTATE PORTFOLIO MANAGEMENT 2019
• Awarded to peer voted best paper for 2018 in this leading journal. Jain and Robinson,

2018 PROVOST AWARD FOR OUTSTANDING RESEARCH AND CREATIVE ACTIVITY 2018
• Awarded annually to the two most outstanding mid-career faculty across all colleges in the University.

BEST PAPER JOURNAL OF REAL ESTATE RESEARCH 2018
• Awarded to peer voted best paper for 2017 in this leading journal. Robinson, Simons and Lee, 2017.

BEST MANUSCRIPT AWARD 2018
• CoStar Data (with Jeremy Gabe and Drew Sanderford) ARES PRACTITIONER RESEARCH AWARD 2018 • Signaling, Anchoring, and Loss Aversion in Commercial Real Estate Transactions

REAL ESTATE RESEARCH INSTITUTE (RERI) 2017
• Awarded $15,000 grant with Jeremy Gabe and Drew Sanderford to study the impact of sustainability related attributes on multifamily housing.

RED PEN AWARD 2017 • Journal of Housing Research: Awarded annually to the most outstanding reviewer for the journal.
BEST MANUSCRIPT AWARD 2017
• Sustainable Real Estate (with Elizabeth Cameron and Andrew Sanderford)

ARES PRACTITIONER RESEARCH AWARD 2017
• Content Analysis of Institutional Real Estate Owners

PRACTITIONER RESEARCH AWARD 2017
• Who Benefits from Operation Saving in Green Buildings

AT&T INNOVATION AND EXCELLENCE IN TEACHING AWARD 2017
• Awarded annually by a peer committee at Central Michigan University to a most outstanding teacher

RED PEN AWARD 2016 • Journal of Real Estate Practice and Education: Awarded annually to the most outstanding reviewer for the journal.

PRACTITIONER RESEARCH AWARD 2016 • Financial impact of LEED and Energy Star Certification on Hotel Revenues

PRACTITIONER RESEARCH AWARD 2016 • Green Office Building Attributes: The Tenant Perspective

CBRE REAL GREEN RESEARCH CHALLENGE GRANT 2013-2015
• $300,000 Grant Award over three years, 2013-2014 to 2015-2016 academic years,
• Co-awarded nationally competitive sustainability grant for work in sustainable real estate; one of five grants alongside groups affiliated with Stanford, NYU, Berkeley and Maastricht,
• Devise an industry wide scoring system for US office tenants in leasing decisions and developers for ROI decisions on wide range of green characteristics.

AT&T INNOVATION AND EXCELLENCE IN TEACHING AWARD 2015
• Awarded annually by a peer committee at Central Michigan University to a most outstanding teacher

BEST MANUSCRIPT AWARD 2015
• CoStar Data (with Drew Sanderford)

ARES BEST MANUSCRIPT AWARD 2015
• Office Buildings (with Roby Simons, Eunkyu Lee and Albert Bragg)

ARES BEST MANUSCRIPT AWARD 2015
• Sustainable Real Estate (with AJ Singh and Prashant Das)

ARES BEST MANUSCRIPT AWARD 2015
• Property Management (with Roby Simons and Eunkyu Lee)

ARES PRACTITIONER RESEARCH AWARD 2015
• Managing Well by Managing Good

GUEST EDITOR: INTERNATIONAL JOURNAL ENVIRON. AND ASSET MGMT 2015
• Hospitality special issue on “International Hospitality Real Estate Investment Management”

PRACTITIONER RESEARCH AWARD 2014
• Green Office Buildings: A Qualitative Exploration

FMA 2013
• Semi-Finalist for Best Paper

BEST MANUSCRIPT AWARD 2013
• Sustainable Real Estate

BEST MANUSCRIPT AWARD 2013
• CoStar Data  

PRIVATE SECTOR PROFESSIONAL EXPERIENCE
WELLS FARGO BANK
COMMERCIAL REAL ESTATE CAPITAL MARKETS WEST COAST, US 2004-2009
• Relationship Manager, Wells Fargo Middle Market Real Estate, Portland OR
• Worked with Real Estate Investments and Debt for $20MM plus category in value add and stabilized investment opportunities.
• Relationship Manager, Wells Fargo Real Estate Merchant Bank, Irvine, CA
• Handled heavily structured commercial real estate finance primarily for institutional size clients including opportunity funds, REITS, and large scale developers.

EXECUTIVE CONSULTING
ENTREPRENEURSHIP AND FINANCE LOS ANGELES, CA 2003-2004
• Provided equity fund-raising and start-up strategic consulting as acting CFO of two startup firms.

DOT.COM STARTUPS SAN DIEGO AND SAN FRANCISCO, CA 2001-2002
• Led strategic teams to achieve funding covenants, increase revenue, and improve efficiency.

PANURGY,
MANAGING DIRECTOR, INFRASTRUCTURE SERVICES SAN FRANCISCO, CA 1999-2001
• Led teams into middle market companies for strategic and technological consulting engagements.

APPNET SYSTEMS / COMMERCE ONE,
SENIOR CONSULTANT ANN ARBOR, MI 1997-1999
• Led teams consulting in fortune 100 companies