The Department of Real Estate at DePaul University recently added two scholars to its ranks, continuing its tradition of academic excellence. Charles H. Wurtzebach has been permanently appointed as the George L. Ruff Professor in Real Estate Studies, and Patric H. Hendershott has joined the Institute for Housing Studies as a senior research fellow.

Charles H. Wurtzebach 

Wurtzebach came to DePaul in 2009 as the George L. Ruff Professor in Real Estate Studies, which originally was designed for short-term appointments to attract visiting scholars in real estate. In order to bolster the academic program and the existing faculty while lending consistency to the classroom and to students, he agreed to make the transition from a visiting to a permanent position. This permanent appointment is funded by a $1.5 million gift from DePaul Trustee George A. Ruff, co-founder of Trinity Hotel Investors and a founding sponsor of The Real Estate Center, and enables the college's Department of Real Estate to recruit leading scholars to the faculty.

Wurtzebach’s previous experience includes serving as managing director and property chief investment officer at Henderson Global Investors Inc. In academia, he was the director of the Real Estate and Urban Land Economics program within the Graduate School of Business at the University of Texas at Austin in the mid-1980s. He is co-author or co-editor of several books, including “Modern Real Estate” and “Managing Real Estate Portfolios.”

Wurtzebach is a DePaul alumnus, having earned his bachelor’s in finance in 1971. He also is a founding sponsor of The Real Estate Center and, in 2008, he funded the Charles H. Wurtzebach and Susan M. Marshall Endowed Scholarship Fund which provides funding for students to travel to real estate conferences and meetings across the country.

Patric H. Hendershott 

Hendershott, an award-winning economics and finance expert, joins other affiliated research fellows at the Institute for Housing Studies, which is housed in the Real Estate Center at DePaul. The institute provides analysis and data to inform affordable housing policy and practice. Hendershott’s work will connect the unique datasets available in the institute’s data clearinghouse to comprehensive academic analysis of the housing market.

“Pat Hendershott is a prodigious scholar on a broad range of subjects, including household formation and homeownership, residential housing finance, the impact of U.S. tax codes on housing, the valuation of multifamily and commercial real estate, and the securitization of mortgages and real estate,” says Jim Shilling, the Michael J. Horne Chair in Real Estate Studies and an academic project director at the institute.

Hendershott has an honorary appointment as professor in the business school at the University of Aberdeen, Scotland, where until recently he served as part-time chair in property economics and finance. He previously held tenured positions at Purdue University and Ohio State University, as well as visiting professorships at San Diego State University, University of Melbourne and Stanford University. He is a member of the Academic Board of the Homburg Academy. In 2007, Hendershott was the recipient of the David Ricardo Medal from the American Real Estate Society. That honor represents the highest recognition of scholarly work in the real estate discipline.