People - JUNE 11, 2013

Cornerstone Real Estate Adviser co-founder passes away

by Sara Kassabian

Marc Louargand, Ph.D., a leading figure in the commercial real estate investment industry and globally recognized urban economist, passed away suddenly on June 6.

Louargand had more than 40 years’ experience in all major aspects of the real estate industry. He co-founded Cornerstone Real Estate Advisers and served as the chief investment strategist from 1993 until his retirement in 2007. After retiring from Cornerstone, Louargand founded and served as principal at Saltash Partners LLC, an investment firm dedicated to entrepreneurial opportunities.

Another venture he was involved in was the James R. Webb American Real Estate Society (Webb-ARES) foundation, which was established by the ARES board of directors in 1986 and funds the doctoral seminar by providing grants to scholars from sub-Saharan Africa and other developing countries, while also funding manuscript prizes. Louargand acted as the foundation director of development at ARES and had also served as the president of the organization. In addition, Louargand contributed editorships and editorial board memberships to the organization’s journals. He also acted as a mentor to many graduate students and recent graduates.

Prior to his work with Cornerstone, he was a professor of real estate finance at the Massachusetts Institute of Technology. His career in academics focused on the integration of real estate investment markets and mainstream financial theory. He worked as a professor of finance and economics at California State University, Northridge, and the University of Massachusetts. He also taught at the University of Connecticut, where he was the co-director of the Center for Real Estate and Urban Economic studies at the university. While at MIT, he established the Pension Real Estate Association (PREA) Institute, an annual program that instructed senior managers in the institutional investment community.

In Louargand’s memory, the Webb-ARES foundation asks for contributions to permanently endow “The Marc Louargand Best Paper Award” in his honor. For more information, visit the Webb-ARES foundation website.

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