Jay P. Leupp

JAY P. LEUPP, CPA, is a managing director at RBC Capital Markets,
oversees a five-person equity research team that provides comprehensive
coverage of the multifamily, retail, office, industrial, and specialty
REIT sectors in the United States. His coverage universe includes 60
publicly traded real estate companies. He is one of the few Wall Street
analysts with real estate industry experience. Prior to joining RBC in
2002, he was managing director of real estate equity research at
Robertson Stephens, where he founded the real estate franchise in 1994.
From 1991 to 1994, he was vice president with the Staubach Company,
specializing in the leasing, acquisition and financing of commercial
real estate. He also served as a development manager with Trammell Crow
Residential (1989-1991), the nation’s largest developer of multifamily
housing. He holds a bachelor’s degree in accounting from Santa Clara
University, an MBA from Harvard University, and is a Certified Public
Accountant. He has guest lectured on REITs at Stanford University and
the University of California at Berkeley, and has appeared and/or
offered commentary on CNBC, CNN Financial, Dow Jones, Bloomberg News,
the Wall Street Journal, New York Times and Barron’s. He is a member of
the Board of Directors of Sentinel Vision Corporation and Chaminade
College Prepatory (Los Angeles). He is also a member of the Santa Clara
University Board of Regents and is a Policy Board Member of the Fisher
Center for Real Estate at the University of California, Berkeley.