CURRICULUM VITAE. BARRETT A. SLADE Professor of Finance J. Cyril Johnson Faculty Fellow

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1 CURRICULUM VITAE BARRETT A. SLADE Prfessr f Finance J. Cyril Jhnsn Faculty Fellw Marritt Schl Brigham Yung University 618 TNRB (801) Prv, Utah bslade@byu.edu EDUCATION PhD., Business Administratin, Emphasis: Real Estate, University f Gergia, Dissertatin: Three Essays n Cmmercial Indices. Dissertatin Advisr: James B. Kau. M.S., Managerial Ecnmics, Brigham Yung University, B.S., Ecnmics, Brigham Yung University, SCHOLARLY ACTIVITIES Research Awards and Grants Richard U. Ratcliff Award, Best riginal article published in The Appraisal Jurnal (2010). Awarded March Marritt Schl Schlarly Excellence Award, Brigham Yung University, 2009 Best Paper Award, Jurnal f Real Estate Research (2000), Hmer Hyt Advanced Studies Institute Manuscript Prize, Awarded 2001 Fellwship Award, J. Cyril Jhnsn Fellwship, Marritt Schl, Outstanding Researcher Award, Business Management Department, Marritt Schl, 2001 Outstanding Paper in Business Divisin, Utah Academy f Sciences, Arts & Letters, 2001 Marritt Schl Research Grant, 2000, 2002, 2003, 2005, 2006, and 2009 Peer Reviewed Jurnal Publicatins Sirmans, C.F. and B. Slade, 2011, Natinal Transactin-based Land Price Indices, Jurnal f Real Estate Finance and Ecnmics, Online Publicatin DOI /s Slade, B. and C.F. Sirmans, 2010, Office Prperty DCF Assumptins: Lessns frm Tw Decades f Analysts Surveys, The Appraisal Jurnal, LXXVIII:3, pp

2 Slade, B. and C.F. Sirmans, 2010, Sale Leaseback Transactins: Price Premiums and Market Efficiency, Jurnal f Real Estate Research, 32:2, pp Slade, B., 2006, Prperty Risk Assessment: A Simulatin Apprach, The Appraisal Jurnal, LXXIV:4, pp Crnia, G. and B. Slade, 2006, Hrizntal Inequity and Prperty Taxatin n Apartment, Industrial, Office, and Retail Prperties, Natinal Tax Jurnal, LIX:1, pp Brau, J. and B. Slade, 2006, FranklinCvey Cmpany Retain Ownership versus Sale/Leaseback Decisin: A Crprate Real Estate Case Study, Jurnal f Real Estate Educatin, 9:1, pp Hdgsn, D., B. Slade, and K. Vrkink, 2006, Cnstructing Cmmercial Indices: A Semiparametric Adaptive Estimatr Apprach, Jurnal f Real Estate Finance and Ecnmics, 32:2, pp Crnia, G. and B. Slade, 2006, Hrizntal Inequity in the Prperty Taxatin f Apartment, Industrial, Office, and Retail Prperties, Tax Analysis, 41:1, pp Karlekar, I. and B. Slade, 2005, What is Winning the Race? Institutinal-Grade Prperty Value Changes in the 21 st Century, The Institutinal Real Estate Letter, 17:11, pp Crnia, G., and B. Slade, 2005, Prperty Taxatin f Multi-family Husing: An Empirical Analysis f Vertical and Hrizntal Equity, Jurnal f Real Estate Research, 27:1, pp Lambsn, V., McQueen, G., and B. Slade, 2004, D Out-f-State Buyers Pay Mre fr Real Estate? An Examinatin f Anchring-Induced Bias and Search Csts, Real Estate Ecnmics, 32:1, pp Slade, B., 2004, Cnditins f Sale Adjustment: The Influence f Buyer and Seller Mtivatins n Sales Price, The Appraisal Jurnal, LXXII:1, pp Alexander, W., S. Grimshaw, G. McQueen, and B. Slade, 2002, Sme Lans are Mre Equal than Others: Third-party Originatins and Defaults in the Subprime Mrtgage Industry, Real Estate Ecnmics, 30:4, pp Hlmes, A., and B. Slade, 2001, D Tax-Deferred Exchanges Impact Purchase Price? Evidence frm the Phenix Apartment Market, Real Estate Ecnmics, 29:4, pp Munneke, H., and B. Slade, 2001, A Metrplitan Transactin-Based Cmmercial Price Index: A Time-Varying Parameter Apprach, Real Estate Ecnmics, 29:1, pp Crawfrd, R., and B. Slade, 2001, Appraising Industrial Special-Purpse Prperties: A Utilizatin-Based Measure fr Estimating Ecnmic Obslescence, The Appraisal Jurnal, LXIX:2, pp Brau, J., and B. Slade, 2001, An Examinatin f Utah Cunty Husing Trends Cmparing Naïve Index Methds t Hednic Cnstant-Quality Index Methds, Jurnal f the Utah Academy, 78, pp (Best Paper Award--Business Divisin). Munneke, H., and B. Slade, 2000, An Empirical Study f Sample Selectin Bias in Indices f Cmmercial Real Estate, Jurnal f Real Estate Finance and Ecnmics, 21:1, pp Slade, B., 2000, Office Rent Determinants during Market Decline and Recvery, Jurnal f Real Estate Research, 20:3, pp (Best Paper Award). Hlmes, A., B. Slade, and L. Cwart, 2000, Are Minrity Neighbrhds Expsed t Mre Envirnmental Hazards? Allegatins f Envirnmental Racism, Real Estate Review, 30:2, pp

3 Dwns, D., and B. Slade, 1999, Characteristics f a Full-Disclsure Transactin-Based Index f Cmmercial Real Estate, The Jurnal f Real Estate Prtfli Management, 5:1, pp Peer Reviewed Bks Slade, B., 2009, Valuatin f Office Prperties: A Cntemprary Perspective, Appraisal Institute (Peer Reviewed Reference Bk, 163 pages). Papers under Review Munneke, H., C.F. Sirmans, B. Slade, and G. Turnbull, 2010, Husing Regulatin, Externalities, and Residential Prperty Prices (Under Review: Real Estate Ecnmics). Research in Prgress Akin, S., V. Lambsn, G. McQueen, B. Plat, B. Slade, and J. Wd, Rushing t Overpay: The REIT Premium Revisited (Wrking Paper). Sirmans, C.F., and B. Slade, Rlling Optins and Price Premiums: Evidence frm the Phenix Land Market (Data and Analysis Stage). Shilling, J., C.F. Sirmans, and B. Slade, Wh Says there is a High Cnsensus amng Analysts when Market Uncertainty is High? Sme New Evidence frm the Cmmercial Real Estate Market (Data and Analysis Stage). Slade, B., Public Disclsure f Real Estate Sale Prices and the Impact n the Valuatin f Real Prperty? (Wrking Paper). Slade, B., Industrial Prperty Price Determinants during a Market Cycle (Wrking Paper). Slade, B., Estimating the Cntributry Value f Basements in Cndminium Prperties (Data and Analysis Stage). Schlarly Wrk Other Than Peer Reviewed Publicatins Slade, B., 2000, Article Review f Changing Leases int Investment Grade Bnds: Financial Alchemy and Cst Reductin in Real Estate Finance, by Richard A. Graff, Pensin Real Estate Assciatin, p. 19. Slade, B., Appraisals and Institutinal Real Estate Benchmarking: A Review f the Literature, Discussin f Ptential Research Opprtunities, and an Anntated Abstract. Unpublished, University f Gergia. Slade, B., A Review f the Academics and Applicatin f the Internal Rate f Return, Unpublished Masters Prject, Brigham Yung University. Cnference Presentatins and Discussins Husing Regulatin, Externalities, and Residential Prperty Prices, American Real Estate and Urban Ecnmics Assciatin Annual Meeting, January 2010, Atlanta (Presentatin).

4 Like-Kind Exchanges, by Jhn E. Andersn, American Real Estate and Urban Ecnmics Assciatin Meeting, January 2009, San Francisc (Discussant). Beynd Sales Price: Neighbrhd Wealth & Space Measures and Prperty Tax Incidence, by Brent C. Smith, American Real Estate and Urban Ecnmics Assciatin Meeting, January 2006, Bstn (Discussant). Assessed Valuatin and Prperty Taxatin f Multi-family Husing: An Empirical Analysis f Hrizntal and Vertical Equity, American Real Estate and Urban Ecnmics Assciatin Annual Meeting, January 2004, San Dieg (Presentatin). D Out-f-State Buyers Pay Mre fr Real Estate? An Examinatin f Anchring Induced Bias and Search Csts, American Real Estate and Urban Ecnmics Assciatin Annual Meeting, January 2003, Washingtn (Presentatin). Sme Lans are Mre Equal than Others: Third-party Originatins and Defaults in the Subprime Mrtgage Industry, American Real Estate and Urban Ecnmics Assciatin Annual Meeting, January 2002, Atlanta (Presentatin). Tempral and Spatial Variatins in Market Liquidity, Appraisal Smthing and Price Discvery in Private and Public Real Estate Markets, by G. Schwann and B. MacGregr, American Real Estate and Urban Ecnmics Assciatin Meeting, January 2001, New Orleans (Discussant). Appraising Industrial Special-Purpse Prperties: A Utilizatin-Based Measure fr Estimating Ecnmic Obslescence, American Real Estate Sciety Annual Meeting, April 2000, Santa Barbara (Presentatin). Varying Parameter Techniques fr Cnstructing Cmmercial Indices Crrected fr Sample Selectin Bias, American Real Estate and Urban Ecnmics Assciatin Annual Meeting, January 1999, New Yrk (Presentatin). Office Rent Determinants during Market Decline and Recvery, American Real Estate and Urban Ecnmics Assciatin Annual Meetings, January 1999, New Yrk (Presentatin). An Empirical Study f Sample Selectin Bias in Indices f Cmmercial Real Estate, American Real Estate and Urban Ecnmics Assciatin Annual Meeting, January 1998, Chicag (Presentatin). Three Essays n Cmmercial Indices, Dctral Seminar, Amercian Real Estate Sciety Annual Meeting, April 1997, Sarasta (Presentatin). Characteristics f a Full-Disclsure Transactin-Based Index f Cmmercial Real Estate, American Real Estate and Urban Ecnmics Assciatin Annual Meeting, January 1997, New Orleans (Presentatin). Fair Value - What is it and hw d yu estimate it? Appraisal Institute Natinal Cnference, August 1991, Seattle (Presentatin). Pst FIRREA-What is an Appraisal Tday and What Des it Mean fr Our Future? Western Reginal Mrtgage Bankers Cnference, August 1991, Bellingham (Presentatin). Prfessinal Service ad hc reviewer: Real Estate Ecnmics, Jurnal f Real Estate Finance and Ecnmics, Jurnal f Real Estate Research, The Appraisal Jurnal, Jurnal f Real Estate Practice and

5 Educatin, Internatinal Jurnal f Hspitality Management, Jurnal f Ecnmics and Business. Member, AREUEA Dissertatin Awards Cmmittee, 2009 Editrial Bard Member, Appraisal Jurnal, Hnr s Theses Advised Chair, Clintn E. Petersn, Market Efficiency in Real Estate: An Examinatin f Freclsure Price Discunt in Arizna, March Chair, Daniel Matthews, An Examinatin f the Effects f Brigham Yung University s Single- Student Husing Plicies n Lcal Cndminium Values, TEACHING EXPERIENCE Advanced Real Estate Analysis (BM 419), Brigham Yung University. Real Estate Analysis (MBA 686), Brigham Yung University. Real Estate Finance and Investment (BM 413), Brigham Yung University. Financial Planning (MBA 620), Brigham Yung University. Crprate Finance (MGT 501, BM 301, OB 660R), Brigham Yung University. Macrecnmics fr Business (ManEc 301), Brigham Yung University. Real Estate Principles (RE 390), University f Gergia. Cntinuing Educatin fr Real Estate Prfessinals (1998-Present) in numerus U.S. cities including: New Yrk, Ls Angeles, San Francisc, Sacrament, Prtland, Phenix, Omaha, Tulsa, Ren, Charlestn, Salt Lake City, Seattle, Hnlulu, Albuquerque, Atlanta, Buffal, Milwaukee, San Dieg, Las Vegas, and Bise. ACADEMIC EXPERIENCE Prfessr f Finance, Marritt Schl, Brigham Yung University, 2011-Present. Assciate Prfessr f Finance, Marritt Schl, Brigham Yung University, Assistant Prfessr f Finance, Marritt Schl, Brigham Yung University, Visiting Assistant Prfessr f Finance, Marritt Schl, Brigham Yung University, Instructr f Real Estate, Department f Insurance, Legal Studies, Real Estate, and Management Science, University f Gergia,

6 PROFESSIONAL EXPERIENCE Visiting Schlar, Research and Strategy Divisin, ING Clarin, Real Estate Investment Management, New Yrk, New Yrk, July 2005-Nvember Assisted with cnstructing cmmercial indices and ther related initiatives. ING Clarin prvided a brad array f public and private real estate management and advisry services t institutinal and individual investrs. ING Clarin was the U.S. investment management arm f ING Real Estate; tgether, ING Clarin and ING Real Estate had $149 billin in real estate assets under management, making ING the largest real estate investment manager in the wrld at that time. President, Slade & Assciates, Inc., Real Estate Cnsultants, Phenix Arizna, Advisry services included: due diligence investigatins, dispsitin strategies, prtfli valuatin, market segmentatin analysis, feasibility studies, white paper research studies, prblem prperty strategies, and expert witness testimny. Valuatin services included: ffice buildings, retail centers, apartment cmplexes, subdivisin develpments, cndminium prjects, aut dealerships, warehuses, manufacturing facilities, fuel bulk plants, htels, resrts, restaurants, mini-strage facilities, recreatinal vehicle parks, and educatin facilities. Vice President & Chief Appraiser, Cmmercial Prperty Prtfli, First Interstate Bank f Arizna, Phenix Arizna, Respnsibilities included verseeing a staff f cmmercial appraisers and reviewers; implementing an appraisal quality cntrl prcess; wrking with bank fficers n real estate lan prtfli decisins; maintaining a fee appraiser panel; verseeing the rdering and reviewing f ver 600 cmmercial appraisals per year. Sell, Huish & Assciates, Inc., Cmmercial Real Estate Valuatin, Phenix Arizna, Respnsibilities included appraising the fllwing prperty types: ffice buildings, shpping centers, retail centers, apartment cmplexes, subdivisin develpments, cndminium prjects, aut dealerships, warehuses, manufacturing facilities, gas statins, fuel bulk plants, htels, resrts, restaurants, mini-strage facilities, recreatinal vehicle parks, and educatin facilities. PROFESSIONAL AFFILIATIONS American Real Estate and Urban Ecnmics Assciatin (AREUEA) American Real Estate Sciety (ARES) Pensin Real Estate Assciatin (PREA) Natinal Cuncil f Real Estate Fiduciaries (NCREIF) MAI: Member f the Appraisal Institute (AI) Member f Beta Gamma Sigma, Hnr Sciety fr Cllegiate Schls f Business