Boxwood's principals have extensive experience in real estate research, quantitative methods and product development. Their rich backgrounds make it possible for Boxwood to tackle complex challenges and deliver creative and effective solutions for clients. Brief biographies of Boxwood's principals and co-founders are provided below.
Randy is a CRE market analyst with 30 years of industry experience. He co-founded Boxwood in 2003 and subsequently pioneered research and analysis of small cap CRE property and loan markets that today is the focus of Boxwood's SmallBalance.com platform where property valuations and data analytics are obtained. Randy has overall responsibility for the company's administration, as well as sales, marketing and new product development.
Prior to forming Boxwood, Randy was senior vice president of the research unit of GMAC Institutional Advisors LLP/Realpoint (now Momingstar, Inc.), where he managed the development of new credit risk analytics for the GMAC Commercial Mortgage Corp. portfolio and managed a marketing group responsible for third-party analytical tools. Prior to GMAC, for seven years he was senior vice president and head of product development and marketing at Reis, Inc., the commercial real estate research firm. During his tenure there, Randy directed all sales, marketing, customer service and product development functions and was personally responsible for creating the Reis "SE" online subscription service including original market research, trend reports and property analytics.
Over the years, Randy's market analyses have been frequently cited in the business and industry press, and he has published articles in trade journals such as Mortgage Banking magazine and The RMA Journal. For two years, he wrote the monthly "Inside Small Balance" column for the commercial edition of the Scotsman Guide magazine. He has also served as a legal expert witness on CRE market/leasing conditions. Randy is a regular speaker at industry conferences such as the Mortgage Bankers Association, the Crittenden National Real Estate Conference and other client forums. Randy has a M.B.A. from Fordham University, a Master's in Regional Planning from the University of Massachusetts (Amherst) and his B.A. from Cornell University.
Michaell is a veteran quantitative analyst and researcher with 25+ years of experience. He develops all of the firm's analytical products including CRE automated property valuation models, price indexes and real estate forecasting models. Michaell also conducts residential AVM validation studies as consultant to lenders. He also has overall responsibility for development and maintenance of the firm's databases, IT systems and security, and technical product development.
Previously with his consulting firm Michaell Taylor Associates (MTA), he developed three new quantitative hedge funds for UBS Asset Management; also as consultant, he designed and developed risk-return models applicable to individual mortgage loans and portfolios for GMAC Commercial Mortgage Corp. Other former clients have included a variety of state, national, and international Agencies and Ministries, as well as major firms in the financial, energy, and healthcare-related fields. Prior to MTA, Michaell was a senior economist at Reis, Inc. and built several of the firm's forecasting models including its monte carlo simulation of asset and portfolio performance.
His real estate research has been published in various academic journals and trade publications including Real Estate Finance and The RMA Joumal. He has spoken at academic and industry-related conferences including the Mortgage Bankers Association and IMN's High-Net-Worth Real Estate Investing forum. Michaell is a tenured Associate Professor at Norwegian University of Science and Technology (NTNU-Trondheim). He has taught quantitative methods and statistics at the University of California (San Diego), University of Houston and the London School of Economics, among other institutions. Michaell's doctorate, in political economy from the University of Houston, included a specialization in quantitative methodologies. He earned his B.A. from Texas A&M University, College Station.