Mr. Jack Kern

Managing Director, Kern Investment Research

Member of the Real Estate Council

Council Member Biography

Jack Kern is Managing Director of Kern Investment Research, a consultancy based in the Washington, DC area that specializes in covering multifamily REITs, markets, technology companies, operating platforms and the real estate economy. Mr. Kern has over 25 years of industry experience, most recently as Director of Research at Archstone-Smith Trust prior to forming the consultancy. He covers REITs, markets and multifamily industry practices nationally and provides analytical assessments and forecasts of market opportunities and national and regional economic trends. Kern Investment Research also provides coverage of other commercial real estate sectors including student housing, distressed debt, storage, data centers, office, retail, commercial parking trends and pricing and industrial. In addition to his role with Kern Investment Research, Mr. Kern serves as President of Tier 5 Technology, an information technology and services firm specializes in server and software virtualization, systems migration, integration and enterprise architecture. The firm has extensive capabilities in knowledge management systems, information portals and enterprise services development. (This is me - Update Profile)

Employment History

2007 - Unspecified: President, Tier 5 Technology
2007 - Unspecified: Managing Director, Kern Investment Research
2001 - 2007: Director of Research, ARCHSTONE COMMUNITIES LLC
1985 - 2001: Chief Research Officer, Market Research Group

GLG News^SM Analyses by Jack Kern

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Camden Properties Trust Lays an Egg in Texas?

July 5, 2011

Analysis of:Camden Closes $261M MF Portfolio Acquisition | www.globest.com

Camden Properties Trust NYSE:CPT) , the well respected residential REIT, run by always amiable and friendly CEO Rick Campo recently announced the purchase of eight apartment communities, totally 2,957 units. The properties, spread across 4 markets in Texas increase the firm's holdings to 69,170 units, including deliveries under construction. If the press releases are to be taken at their word, then it means the average cost per unit is a stunning $88,265, We're surprised, to say the least.

Archstone to Go, or Want to Buy Some Units?

June 21, 2011

Archstone-Smith was a very well regarded real estate investment trust right up until it went private after being acquired by Tishman Speyer and Lehman Brothers Holdings in 2007. The firm has been largely quiet since then, just managing their properties and holding on to long term entitlements. Now they are back in the news, with the prospect they might go public again, or be sold off in a free for all. With $18 to $22 billion in apartments at stake, neither choice is clear.

AVB Drops Out of the Race and Becomes a "B" Company?

April 8, 2011

There have been a number of reports highlighting Avalon Bay's newest strategy of seeking to grow through acquisition of B class assets. There is a good likelihood the strategy will be misunderstood, especially given their "mysterious new research effort." The reality is AVB may be abandoning their previously successful core strategy in an effort to become a clone of EQR. Anyone following EQR knows the mix isn't always magic.

Season Opener - RealPage 1, Yardi 1

April 1, 2011

Analysis of:RealPage Countersues Yardi | multifamilyexecutive.com

RealPage has filed a counterclaim against Yardi, alleging among other things that Yardi engaged in anti-competitive practices and mis-appropriated trade secrets. This latest round of litigation among property services giants seems to be getting more complex with each individual filing. There are some allegations that a former chief information officer took certain intellectual property secrets with him when he joined Yardi. The game begins...

RealPage and Yardi Locked in Legal Wrangle over Evergreen's Activities

February 16, 2011

The two leading companies in the property management space, RealPage and Yardi claim a majority of market share in the multifamily operating platform space. The recent filing of a lawsuit alleging that an operating subsidiary of Realpage engaged in practices that harmed Yardi has not only raised the specter of an ugly battle, but also opened the door to shine a spotlight on the real differences between the two firms. Whatever the outcome, it may well be that RealPage is the ultimate loser.

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GLG Study Groups with Jack Kern(?)

Study Group Name	No. Members
Distressed Real Estate Experts	179
GLG Leaders in the Technology Council	133
CoStar or LoopNet Users	125
Self Storage Experts	120
Self-Storage Real Estate Experts	67