Jeffrey R. Havsy, director of research at the National Council of Real Estate Investment Fiduciaries, will join CBRE Group on Dec. 1 as chief economist-Americas, Mr. Havsy said.
This is a new position, said Robert McGrath, CBRE spokesman.
Mr. Havsy will be based in Boston. He will also lead a team of economists at CBRE’s real estate research group, CBRE Econometric Advisors.
NCREIF officials expect to finalize a job description and launch a search for a replacement in about 10 days, said Peter Steil, NCREIF’s CEO.
Robert McGrath, CBRE spokesman, could not be reached by press time for information on whether this is a new position.
Separately, NCREIF and Altus Group are joining together to create a new real estate data platform that combines NCREIF’s performance data with Altus’ forward-looking valuations. The platform will begin to be rolled out in the first half of next year.
It will allow NCREIF members to produce reports showing how certain elements of their portfolios, such as sector bias and property purchases, affected their portfolios return. It will also show risks in the portfolio such as leasing risk that could impact future performance, Mr. Steil said.