(416) 736-2100 ext 20993
Office: MB G334
Area(s) of Expertise
- Commercial Real Estate
- Emerging Markets
- Multifamily Housing
- Real Estate Finance
- Sustainable and Energy Efficient Real Estate
About Avis Devine
Avis Devine is an Associate Professor of Real Estate with the Brookfield Centre in Real Estate and Infrastructure. Dr. Devine’s previous appointment was as an Assistant Professor of Real Estate with University of Guelph’s College of Business and Economics. Prior to her academic career, she was the Assistant Vice President in charge of commercial real estate underwriting and valuation for Dollar Bank, FSB in Pittsburgh, PA. Avis has a B.S. from Westminster College, an M.B.A. from Duquesne University, and a Ph.D. in Finance from the University of Cincinnati. Her research interests include Sustainable and Energy Efficient Real Estate, Commercial Real Estate, Multifamily Housing, and Emerging Markets.
Dr. Devine’s body of research largely focuses on the financial impacts of sustainability on commercial real estate. Her research garners much industry support and has won several research awards and grants, including the 2017 Nick Tyrrell Research Prize in Real Estate Investment and a 2020 research grant from the Real Estate Research Institute (RERI). Avis’ work has been featured in The Globe and Mail, The Financial Post, The Business Mirror, Commercial Property Executive, and Business in Vancouver among others.
2020 Real Estate Research Institute (RERI) Research Grant
2018 Lawrence Berkeley National Laboratory (LBNL) & the Real Estate Research Institute (RERI) Research Grant for Sustainable Real Estate
2017 Nick Tyrrell Research Prize in Real Estate Investment
2016 Royal Institute of Chartered Surveyors (RICS) Award for Best Paper on Sustainability
2016 European Public Real Estate Association (EPRA) Research Award
2014 Aareal Award for Excellence in Real Estate Research, category: Doctoral Dissertation
2013 University of Cincinnati Real Estate Center Outstanding Graduate Student Award
2012 Eastern Finance Association Best Graduate Student Paper Award
Foti, L. and Devine, A., 2019. “High Involvement and Ethical Consumption: A Study of the Environmentally Certified Home Purchase Decision,” Sustainability, 11:5353.
Devine, A. and McCollum, M., 2019. “Understanding Social System Drivers of Green Building Innovation Adoption in Emerging Market Countries: The Role of Foreign Direct Investment,” Cities, 92:303-317.
Chang, Q. and Devine, A., 2019. “The Financial Benefits to Retail Users of Environmentally-Certified Space” Journal of Cleaner Production, 211:1586-1599.
Devine, A., 2017. “Energy Efficiency and Profitability of Commercial Properties” in Energy Efficiency and the Future of Real Estate (pp. 9-35). New York: Palgrave Macmillan US.
Coulson, N. E., Wang, Y., Lipscomb, C., and Devine, A., 2017. “Introduction” in Energy Efficiency and the Future of Real Estate (pp. 1-7). New York: Palgrave Macmillan US
Bond, S. and Devine, A., 2016. “Incentivizing Green Single-Family Construction: Identifying Effective Government Policies and Their Features,” Journal of Real Estate Finance and Economics, 52(4): 383-407.
Bond, S. and Devine, A., 2016. “Certification Matters: Is Green Talk Cheap Talk?” Journal of Real Estate Finance and Economics, 52(2): 117-140.
Devine, A. and Kok, N., 2015. “Green Certification and Building Performance: Implications for Tangibles and Intangibles,” Journal of Portfolio Management, 41(6):151-163.
Bai, Q., Chang, Q., and Devine, A., 2013. “Capital Market Supply and REITs’ Financing and Investment Decisions,” International Journal of Managerial Finance, 10(2): 146-167.
Courses TaughtPROP 6080 – Creative Workshop (MREI, capstone)
PROP 6650 – Commercial Real Estate Asset Management (MREI & MBA)
PROP 6550 – Sustainable Cities (MREI & MBA)
PROP 6200 – Development Prototypes (MBA)
FINE 5200 – Managerial Finance (MBA)