Jeffrey Fisher

Jeffrey D. Fisher, PhD

Visiting Professor
Academic AreaReal Estate
Areas of InterestReal Estate Finance, Principles of Real Estate, Portfolio Management

Jeffrey D. Fisher, Ph.D. is a Professor Emeritus of Real Estate at the Indiana University Kelley School of Business, a Visiting Professor at Johns Hopkins University.  He is the Research and Education Consultant to the National Council of Real Estate Investment Fiduciaries (NCREIF) and President of the Homer Hoyt Institute.  He and is a member of the advisory committee to the Real Estate Finance and Economics Institute at Ecole hôtelière de Lausanne in Switzerland.

Professor Fisher is a coauthor of Real Estate, 9th edition published by John Wiley and Sons, coauthor of Real Estate Finance and Investments, 14th edition, published by McGraw-Hill, and coauthor of Income Property Valuation published by Dearborn.  His books have been translated into Japanese, Korean and Chinese.  

Dr. Fisher has published numerous articles in journals such as The Journal of the American Real Estate and Urban Economics Association, Journal of Real Estate Finance and Economics, The Journal of Urban Economics, The Journal of Real Estate Research, Journal of Portfolio Management, National Tax Journal, Public Finance Quarterly, The Appraisal Journal, Real Estate Review, The Real Estate Appraiser and Analyst, Real Estate Issues, The New Corporate Finance and the Journal of Property Tax Management. 


  • Ph. D, Real Estate, Ohio State University
  • MBA, Wright State University
  • BS, Industrial Management, Purdue University


Selected Publications

  • “Portfolio Upside and Downside Risk – Both Matter” (with Joseph D’Alessandro), Journal of Portfolio Management, Special Real Estate Issue 2021.
  • “The Impact of Hurricanes on the Value of Commercial Real Estate” (with Sara Rutledge), Business Economics, 3-202. 
  • “Risk Adjusted Attribution Analysis of Real Estate Portfolios” (with Joseph D’Alessandro), Journal of Portfolio Management, Special Real Estate Issue, 2019.
  • “Virtual Technology: The Future Is Now for the Commercial Real Estate Industry,” (with Michael K. Lerg and Demetrios M. Louziotis, Jr.), Real Estate Issues, Special Issue on Global Cities in an Era of Change, 2017.
  • “New NCREIF Value Index and Operations Measures,” (with Michael Young and Joseph D’Alessandro), Journal of Real Estate Literature, Vol 25, No. 1 2017 pp 221-235.
  • "Cash Flow Performance of Fannie Mae Multifamily Real Estate: Evidence from Repeated NOI and EGI Indices," (with Xudong An and David Geltner), Journal of Real Estate Finance and Economics,2016; 52(4), 512-542.
  • "Commercial Real Estate Rental Index: A Dynamic Panel Data Model Estimation" (with Xudong An, Yongheng Deng, and Maggie (Rong) Hu, Real Estate Economics. Vol. 44; Issue 2 Summer 2016 pages 378-410
  •  “Benchmarking and Attracting Institutional Capital to Seniors Housing,” (with Glenn Mueller and Richard Wincott).  Journal of Real Estate Research, Vol 19, o 3 2013.

Working papers

  • Risk Adjusted Performance Attribution: A Synthesis of Approaches
  • A Comparison of Asian, European and US Open-End Core Fund Indices
  • The Impact of Hurricanes on the Value of Commercial Real Estate



  • Real Estate Funds and Portfolio Management

Honors and distinctions

  • PREA/Graaskamp Award for Research Excellence from the Pension Real Estate Association
  • Richard Ratcliff award and the Pioneer Award from the American Real Estate Society
  • George Bloom Award from the American Real Estate and Urban Economics Association
  • Martin S. Katz Memorial Award from the American Property Tax Council (APTC)