David Hartzell

David Hartzell is the Steven D. Bell and Leonard W. Wood Distinguished Professor of Finance at the Kenan-Flagler Business School, University of North Carolina at Chapel Hill. He specializes in real estate finance, private equity, and institutional investment strategies. As director of the Leonard W. Wood Center for Real Estate Studies, he oversees academic and practical initiatives in real estate education and research. He advises the UNC Real Estate Investment Fund, a student-managed private equity fund, and holds board roles at Highwoods Properties and multiple academic and corporate entities.

• Educational Background: PhD from UNC-Chapel Hill; MA and BS from University of Delaware

His research focuses on global real estate investment strategies, portfolio construction, and the performance of real estate private equity. He co-authored Global Property Investment: Strategies, Structures, Decisions, widely adopted in academic curricula. His work bridges academic research and industry practices, with extensive consulting experience for firms like Heitman Capital Management and Salomon Brothers Inc.

Key contributions include analyzing real estate volatility in global markets (e.g., Hong Kong), financial flexibility in REITs, and the role of mezzanine finance in commercial real estate. His articles span topics from beta asymmetries to land-use regulations in metropolitan areas.

• Professional Roles: Board member at Highwoods Properties, AREUEA president (2000), former associate dean for MBA Programs

He leads the Real Estate Program at Kenan-Flagler, emphasizing hands-on learning through student funds and industry collaborations.