OC 2019 Bios

Jerry Nickelsburg joined the UCLA’s Anderson School of Management and The Anderson Forecast in 2006. Since 2017 he has been the Director of The Anderson Forecast. He teaches economics in the MBA program with a focus on Asian economies. As the Director of The Anderson Forecast he plays a key role in the economic modeling and forecasting of the National, and California economies. He has conducted research in the areas of labor economics, industrial organization, statistics, and international monetary economics, focusing on the development of new data and the application of economic theory and statistical methods to policy issues. His current academic research is on specific skills, structural unemployment, and on energy efficiency in transportation. He is a regular presenter at Economic Conferences and is cited in the national media including the Financial Times, Wall Street Journal, New York Times, Los Angeles Times, and Reuters.

He received his Ph.D. in economics from the University of Minnesota in 1980 specializing in monetary economics and econometrics. He was formerly a professor of Economics at the University of Southern California and has held executive positions with McDonnell Douglas, FlightSafety International, and FlightSafety Boeing during a fifteen-year span in the aviation business. He also held a position with the Federal Reserve Board of Governors developing forecasting tools, and has advised banks, investors and financial institutions.

From 2000 to 2006, he was the Managing Principal of Deep Blue Economics, a consulting firm he founded. He has been the recipient of the Korda Fellowship, USC Outstanding Teacher, India Chamber of Commerce Jubilee Lecturer, and he is a Fulbright Scholar. He has published over 100 scholarly and popular articles on monetary economics, economic forecasting and analysis, labor economics, and industrial organization and he is the author of two books on monetary economics and exchange rates.
William Yu joined the UCLA Anderson Forecast in 2011 as an economist where he focuses on the economic modeling, forecasting and Los Angeles economy. He also conducts research and forecasts on China’s economy, and its relationship with the U.S. economy. His research interests include a wide range of economic and financial issues, such as time series econometrics, data analytics, stock, bond, real estate, and commodity price dynamics, human capital, and innovation. Currently, he teaches business forecasting and data science courses at UCLA Anderson and UCLA Extension. He also serves as a faculty advisor for the Applied Management Research Program at UCLA Anderson.

He has published over a dozen research articles in Journal of Forecasting, International Journal of Forecasting, Journal of International Money and Finance, etc. He also published op-ed articles in Los Angeles Times and other newspapers. He developed the City Human Capital Index and the Los Angeles City Employment Estimate. He has been cited in the local, national and overseas media frequently including Wall Street Journal, Los Angeles Times, Washington Post, Time, Bloomberg, CBS Money Watch, Al Jazeera, U-T San Diego, LA Daily News, LA Daily Breeze, Straits Times, NBC, ABC, CNBC, CNN, and NPR, as well as various Chinese and Korean media. Yu has been invited as a speaker for various events, including the annual Woo K. Greater China Business Conference and National Association for Business Economics.

Yu received his bachelor’s degree in finance from National Taiwan University in 1995 and was an analyst in Fubon Financial Holding in Taipei from 1997 to 2000. In 2006, he received his Ph.D. degree in economics from the University of Washington where he was also an economics instructor and won two distinguished teaching awards. In 2006, he worked for the Frank Russell Investment Group for Treasury and corporate yields modeling and forecasting. From 2006 to 2011, he served as an assistant and an associate professor of economics at Winona State University where he taught courses including forecasting methods, managerial economics, international economics, and macroeconomics.
Dr. Schniepp is Director of the California Economic Forecast in Santa Barbara. The company prepares forecasts and commentary on the regional economies of California.

He prepares economic analysis and county level forecasts for Caltrans, Kaiser Permanente, and the Southern California Association of Governments.

Dr. Schniepp develops regional real estate and economic forecast publications and presents the findings at large public conferences in Santa Barbara County, Ventura County, and the Santa Clarita Valley.

Dr. Schniepp participates with the UCLA Anderson Forecast in the preparation of the annual Orange County Economic Forecast and the San Diego County Economic Forecast, which are held in April of each year.

Dr. Schniepp served as senior economist to Kathleen Connell, the California State Controller from 1999 to 2003.

Dr. Schniepp served as Director of the Economic Forecast Project at the University of California, Santa Barbara, between 1982 and 2000.

As a past faculty member in the Department of Econo­mics at the University of California, Santa Barbara, he taught intermediate microeconomic and macroeconomic theory, applied regional modeling, applied econome­trics, and forecasting, from 1979 to 1990.

Dr Schniepp received his Ph.D. from the University of California, Santa Barbara in 1982. His fields of research for the degree were econometrics, regional economics, and natural resource economics.
Matthew R. Fogt actively works with the firm’s land use, real estate, environment, natural resource and energy practice groups. He also works with a broad range of asset types, including master-planned communities, renewable energy facilities, mixed-use projects, airports, resource extraction, hospitality properties, agriculture, as well as office, industrial, multi-family and retail properties. The breadth of Matthew’s expertise provides unique efficiency and value to clients in that he routinely performs work typically done by two or more separate attorneys.

Within the land use realm, Matthew regularly obtains development approvals from various local, state and federal agencies, performs entitlement and zoning review as part of acquisitions, navigates projects through the California Environmental Quality Act and the National Environmental Policy Act, processes subdivision maps, advises regarding redevelopment issues, including prevailing wage, arranges public finance, including community facilities districts, advises regarding affordable housing, and negotiates complex conservation easements and development agreements.

Within the real estate realm, Matthew regularly handles the following transactions: purchase and sale, debt and equity financing, public finance, leasing, utility agreements, master developer representation, easements, Department of Real Estate and owners’ associations, title review, construction agreements, infrastructure agreements, exactions and fee agreements, consultant agreements, construction defect, and eminent domain.

In addition to general land use and real estate matters, Matthew also regularly advises regarding renewable energy projects, utility rights-of-way, state and federal resource permits, habitat conservation plans, remediation plans, underground storage tanks, and brownfield development.

Matthew resides in Irvine with his wife and five children. He volunteers with the Boy Scouts of America and his church's youth program and coaches soccer, football and softball.
Professor Coulson received his BS in Economics from the University of California, Riverside, and his PhD from UC San Diego where he studied under the direction of Nobel Laureate Robert Engle. He has been a visiting scholar at the Federal Reserve Banks of Philadelphia and New York, the University of Auckland, and elsewhere, and is published widely in real estate, urban economics, housing economics and related fields. Most recently, he has made research contributions in the areas of the impact of sports franchises on economic development, the hybrid investment characteristics of REITs, and the development of a repeat-rent index that corrects previous biases in the estimation of investment returns.

In 2009 he was named a Fellow of the Weimer School for Advanced Real Estate Studies. From 2006 through 2014 Ed was co-editor of Real Estate Economics, the journal of the American Real Estate and Urban Economics Association (AREUEA), and is a member of the editorial boards of other leading journals in the field. In January 2015 he became co-editor of Journal of Regional Science. He was recently elected by the membership of AREUEA to serve as the organization’s president for 2016.

Professor Coulson was previously the Professor of Economics and Director of the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas. Prior to UNLV, he was Professor of Economics and King Faculty Fellow in Real Estate at The Pennsylvania State University, where he had been on the faculty since 1984 and received numerous outstanding teaching awards.
James “Watty” Watson has spent a 35- year career in the commercial real estate investment, development and management business. He leads strategic direction and business development for CT, engaged primarily with CT institutional and private investors.

Prior to joining CT in 2010, Watty served as president of Koll Development Company where he was responsible for real estate investment and development in the Western United States and Mexico. Koll developed or acquired over 75 million square feet of institutional quality office, industrial and retail properties during its history. He served as chairman of CT affiliate TechSpace Holding Company, which owns and operates tech-ready, all-inclusive flexible office and co-working facilities in New York, San Francisco, Southern California, Texas, and other markets.

Watty is a former president of the Orange County Chapter of the National Association of Industrial and Office Properties and has served on its national board of directors. He is a member of Urban Land Institute and was appointed by Governor Wilson as state racing commissioner on the California Horse Racing Board, where he served for four years.

Watty co-chairs the Advisory Board of the University of California, Irvine Center for Real Estate at the Paul Merage School of Business. He serves on a number of other boards for private operating companies and charitable organizations.
Steve Layton is a Principal and Co-Founder of LBA and has over 31 years of real estate experience. Mr. Layton spends a portion of his time coordinating LBA's corporate program, meeting with LBA's corporate customers to discuss their leasing and disposition activities. He currently oversees due diligence for all of LBA's acquisition, financing and disposition activities. Prior to forming LBA, Mr. Layton was Senior Vice President of the Southern California Division of The Koll Company, where he oversaw and coordinated the development of four million square feet of office and mixed-use projects in Orange and San Diego counties.

Mr. Layton holds a B.A. degree in Economics and Sociology from the University of California, Los Angeles and is a licensed real estate broker. He is also a Founding Board Member of the UCLA Ziman Center for Real Estate, a former board member of the National Association of Industrial and Office Properties and a member of the Urban Land Institute.
As Chief Executive Officer of Voit Real Estate Services, Eric Hinkelman oversees and is responsible for implementing the company’s strategies and operations. He works in partnership with Vance McNeilly, Eric Northbrook and the rest of his management team to achieve the company’s short and long-term goals and objectives. Hinkelman provides guidance to his management team and oversees brokerage professionals, operations personnel and the marketing team for the six Southern California offices.

Hinkelman brings over 30 years of experience in the commercial real estate industry to Voit. Prior to joining the firm, he was a Senior Managing Director for Cushman & Wakefield, responsible for overseeing Investor Services for the Western United States. Before that, he was the Managing Director for C&W’s Orange County and South Bay operations, and prior to C&W, he was a Managing Director and Principal for Trammell Crow Company’s Southern California brokerage services.

Hinkelman received his Bachelor of Science degree from UCLA, and is currently on the local Southern California board for NAIOP. He previously served on the National Advisory Council of BOMA and on the board of numerous other local organizations and philanthropic causes.
Kevin Jennings is the Southern California Market Executive for Commercial Real Estate Banking at Bank of America Merrill Lynch. Mr. Jennings leads a team of professionals responsible for providing a wide range of banking services, including debt, capital market, treasury management and wealth management products, to commercial real estate developers and institutional investors throughout Orange County, San Diego and the Inland Empire.

Based in Irvine, Jennings has been involved in real estate financing and investment for more than 30 years. Before joining Bank of America, he was a vice president and investment officer with Wells Fargo Realty Advisors, a national pension fund advisor.

Mr. Jennings is an active member of Southern California NAIOP and serves on the Board of Directors, its Executive Council and is the 2016 Chapter President. In addition to NAIOP, Mr. Jennings he is an active member of the International Council of Shopping Centers (ICSC), Urban Land Institute (ULI), is a past chair of the Orange County United Way Real Estate Committee and is involved in several philanthropic organizations in Orange County. Jennings is a graduate of the University of San Diego with a degree in economics.
Daryl J. Carter is the Founder, Chairman and CEO of Avanath Capital Management, LLC, a California-based investment firm that acquires, renovates, and operates apartment properties, with an emphasis on affordable and workforce communities. Mr. Carter directs the overall strategy and operations of the Company. Since its formation in 2008, Avanath has acquired $1.5 billion of properties in 12 states in the U.S., comprising 8,000 apartment units. Avanath is vertically integrated and is an SEC registered investment advisor and an institutional fund manager, with capabilities that include acquisition sourcing and underwriting, construction, asset management, and on-site property management.

Mr. Carter has 37 years of experience in the commercial real estate industry. Previously, he was an Executive Managing Director of Centerline Capital Group. Mr. Carter became part of the Centerline team when his company, Capri Capi­tal Finance, was acquired by Centerline in 2005. Mr. Carter co-founded and served as Co-Chairman of the Capri Capital family of companies. He was instrumental in building Capri to a diversified real estate investment firm with $8 billion in real estate equity and debt investments under management. Prior to Capri, Mr. Carter was Regional Vice President at Westinghouse Credit Corporation and a Second Vice President at Continental Bank.

Mr. Carter holds a Master’s in Archi­tecture and a Master’s in Business Administration, both from the Massachusetts Institute of Technology. He received a Bachelor of Science degree in Architecture from the University of Michigan. Mr. Carter serves on the Visiting Committee of the MIT Sloan School of Management. In 2015, Mr. Carter received the MIT Sloan School Distinguished Alumni Award and served as the 2015 commencement speaker for the Sloan School MBA graduation.

Mr. Carter is a Past Chairman of the National Multifamily Housing Council. Previously, Mr. Carter served as an independent director on the boards of the following companies: Catellus Development Corporation (CDX), Silver Bay Realty Trust (SBY), and Whitestone REIT (WSR).
As President and Chief Executive Officer, Colm Macken is responsible for Shea Properties’ strategic initiatives and operations. Mr. Macken oversees the management of the company’s operating portfolio which includes more than 8,100 apartment units and nearly 5 million square feet of retail, office and industrial space in California, Colorado and Washington State. He also leads all development efforts for the company’s strong pipeline of future projects.

Mr. Macken brings more than 30 years of experience to the company. He previously served as the Chief Operating Officer of Forest City Enterprises’ West Coast Commercial Group. During his tenure, he successfully directed the development of projects costing in excess of $1 billion in its core markets, including Victoria Gardens, San Francisco Center, and numerous innovative work/live/play communities throughout the West Coast.

Mr. Macken earned his degree in mechanical engineering from University College in Dublin, Ireland and a master’s degree in business administration from the UCLA Anderson School of Management. He is a member of the International Council of Shopping Centers (ICSC), Urban Land Institute (ULI), National Association of Industrial and Office Properties (NAIOP) and the National Multi Housing Council (NMHC). Mr. Macken is also a board member of the Ziman Center at the UCLA Anderson School of Business.
Mr. Paulsen has been involved in the real estate industry since 1988 and directly involved in the buying, selling, brokering, managing, developing and auctioning of over $10B in assets across the United States in all product types.

Mr. Paulsen joined Cushman & Wakefield in 2017 as Managing Principal, responsible for the Company's Orange County and Inland Empire offices. His responsibilities will include oversight of approximately 150 employees in 8 different customer service lines consisting of Agency Leasing, Tenant Representation, Capital Markets, Debt & Equity, Property Management, Valuation & Advisory, Global Occupier Services, and Project & Development Services.

In 2016, Mr. Paulsen returned to Auction.com, re-branded Ten-X Commercial, as Executive Managing Director, responsible for the 65-member Business Development team. He left the Company upon its sale to Thomas H. Lee, a private equity firm out of Boston in 2017.

Mr. Paulsen joined Prism Realty in 2015, as Senior Vice President, responsible for a variety of activities, including acquisitions, dispositions, entitlement, debt and underwriting of commercial real estate for the Company.

From 2011 to 2015, Mr. Paulsen was engaged as Co-Chief Executive Officer to form Auction.com Commercial, an entity focused on transacting third party, non-performing loan and commercial asset sales utilizing an online based auction platform. Mr. Paulsen sat on the Board, with responsibilities including all aspects of forming a semi-startup venture from mission statements through business plans and forecasting. In addition, Mr. Paulsen was President of Rockwood Real Estate Advisors, an in-house, boutique investment sales brokerage firm.

From 2000 to 2011, Mr. Paulsen was Vice President-Acquisitions/Dispositions for LNR Property Corp with the responsibilities of acquisitions and dispositions nationwide, sourcing transactions, underwriting cash flows, performing due diligence, and closings. In this capacity, Mr. Paulsen sat on the Investment Committee and oversaw all acquisition/disposition financial underwriting, the LNR Marketing Group and related analysts and administrative staff. In his 10+ years at LNR, Mr. Paulsen was involved in the acquisition or disposition of over $3 B in commercial real estate.

Prior to joining LNR, Mr. Paulsen was a Vice President at CB Richard Ellis for 12 years focused on investment sales of commercial real estate. At CBRE, Mr. Paulsen was involved in the sale of 96 properties consisting of over 10.5 million square feet with an approximate market value of $1 B.

Mr. Paulsen holds a California broker's license (BRE-01001040), is a member of the National Association of Industrial and Office Properties (NAIOP) and International Council of Shopping Centers (ICSC), and sits on the board of HomeAid Orange County. Mr. Paulsen holds a Bachelor of Arts degree in History from the University of California @ Los Angeles.


As Regional Senior Vice President, Nancy is responsible for the profitability of its Southern California operations, including the oversight of its existing portfolio of properties and the growth of its asset base through new development and investment opportunities in the market. She also is involved in identifying new land positions and prospects for build-to-suit development. A 14-year commercial real estate veteran, Nancy joined Duke Realty after serving as Senior Vice President of Capital Deployment for Dermody Property’s Southwest Region. Prior to joining Dermody Properties, Nancy was Vice President of Capital Deployment at Prologis and AMB Property Corporation. During her tenure with these companies, she completed more than $1 billion of building and land transactions.

  • MBA, Anderson School of Management, UCLA
  • Bachelor of Arts, Accounting, Mississippi State University
  • Former Certified Public Accountant
  • Member, NAIOP Southern California Chapter
  • Member, Industrial Asset Management Council (IAMC)

UCLA Anderson Forecast