“一起,沃尔特和贾斯汀将指导CRE’的学术和战略方向，因为它继续加强其在我们学校和研究所中的作用,” Sarkis说。 “他们的任命反映了该中心’在金融,设计,规划,技术,和公共政策—交叉点上的独特地位，以及其长期致力于将房地产不仅理解为市场力量,，而且理解为城市转型和社会变革的驱动力。”

“Together, Walter and Justin will guide CRE的 academic and strategic direction as it continues to strengthen its role within our school and the Institute,” Sarkis said. “Their appointments reflect the center的 distinctive position at the intersection of finance, design, planning, technology, and public policy — and its long-standing commitment to understanding real estate not only as a market force, but also as a driver of urban transformation and social change.”

作为执行董事, Torous 将领导 CRE的教学, 财团活动, 筹款, 和重大活动,，同时继续指导 MSRED 计划。他还将监督中心的 员工, 预算, 和战略方向,，并与Steil 密切合作，推动CRE的 学术项目和行业参与的持续发展。

As executive director, Torous will lead the CRE的 teaching, consortium activities, fundraising, and major events, while continuing to direct the MSRED program. He will also oversee the center的 staff, budget, and strategic direction, and work closely with Steil on the continuing evolution of CRE的 academic programs and industry engagement.

他被任命为执行董事是在 STL Champion 教授 Siqi Cheng, 的任期之后，后者于 2020 年 7 月至 2026 年 6 月担任 CRE 教员主任。

His appointment as executive director follows the tenure of STL Champion Professor Siqi Zheng, who served as CRE faculty director from July 2020 to June 2026.

“自从加入麻省理工学院, Walter 在 MSRED 计划的成长和发展中发挥了重要作用, 在房地产金融和抵押贷款证券化方面教育一代又一代的学生,” Sarkis 说。

“Since joining MIT, Walter has played an important role in the growth and development of the MSRED program, educating generations of students in real estate finance and mortgage securitization,” Sarkis says. 

“房地产,商业和住宅,在美国,以及欧洲和亚洲,” Torous说，正在经历巨大的变化。 “人口变化,，随着人口老龄化，他们在家中停留的时间更长,正在造成住宅房地产市场的不平衡。 New technologies and work from home are buffeting commercial real estate.零售业正在发生变化。我们’正处于动荡时期,，我认为中心’的作用主要是教育下一代领导者,，特别是在技术和金融市场,，这对于房地产资产和市场的运作变得越来越重要。这要求我们训练我们的学生非常熟练地使用技术,，以便他们’不受变化的潮起潮落的影响,可以保持强劲的职业轨迹,并成为房地产行业未来的管理者。”

“Real estate, both commercial and residential, is undergoing a tremendous change in the U.S., as well as in Europe and Asia,” Torous says. “Demographic changes, as an aging population stays longer in their homes, are creating an imbalance in residential real estate markets. New technologies and work from home are buffeting commercial real estate. Retail is changing.  We’re in a period of turmoil, and I view the center的 role as being primarily to educate the next generation of leaders, especially in technology and financial markets, which are becoming ever more important to the functioning of real estate assets and markets. That requires that we train our students to be very facile with technology, so that they’re not affected by the ebbs and flows of changes, can maintain a strong career trajectory, and be stewards of the real estate industry going forward.” 

出于这个原因,，他希望看到 MSRED 课程扩展到 DUSP 之外，添加更多来自建筑, 土木和环境工程, 媒体实验室, 麻省理工斯隆管理学院, 和研究所其他领域的内容。

For this reason, he would like to see the MSRED curriculum expand beyond DUSP to add more content from architecture, civil and environmental engineering, the Media Lab, MIT Sloan, and other areas of the Institute. 

Torous还希望更充分地吸引中心1,200以上的校友的教育研究生43年。

Torous also wants to more fully engage the 1,200-plus alumni from the center的 43 years educating graduate students.

“A 我们的很多校友在世界各地的房地产行业中担任了重要职务,” 他说。 “在培训下一代房地产领导者,方面’我们可以从我们’已经培养出的行业领导者身上学到很多东西。”

“A lot of our alums have assumed important positions in the real estate industry around the world,” he says. “In terms of training the next generation of real estate leaders, there的 a lot that we can learn from the industry leaders we’ve already produced.”

房地产金融方面的经济学家和专家，因其对衍生品, 期权, 抵押贷款, 和其他债务工具, Torous的实证研究而闻名，研究兴趣包括陷入财务困境的公司的重组和金融统计问题。

An economist and expert in the financial aspects of real estate known for his empirical studies of derivatives, options, mortgages, and other debt instruments, Torous research interests include the reorganization of financially distressed firms and statistical issues in finance.

他最近的研究重点是更好地理解房主拖欠抵押贷款的原因。他还对机器学习的应用感兴趣，以调查美国商业办公市场的动态如何随着 Covid-19 大流行, 的变化，以及开发人员可以从新的办公市场格局中学到的经验教训。这项研究反映了人工智能和大型语言模型对房地产决策各个方面日益增长的重要性。因此,，MSRED 课程现在包括人工智能和房地产, 课程，Torous 和 Steil 计划添加其他, 类似课程。

His recent research has focused on better understanding why homeowners default on their mortgages. He is also interested in the application of machine learning to investigate how the dynamics of the U.S. commercial office market changed with the Covid-19 pandemic, and the lessons developers can learn about the new office market landscape. This research reflects the growing importance of AI and large language models to every aspect of real estate decision-making. Because of this, the MSRED curriculum now includes a class on AI and real estate, and Torous and Steil plan to add other, similar offerings.

“It的 重要的是我们关注房地产的各个方面,” 他说。 “I 期待与 Justin 合作，创建贯穿整个学院的课程，帮助 CRE 学生成为该领域的领导者。”

“It的 important going forward that we focus on all aspects of real estate,” he says. “I look forward to working with Justin to create a curriculum that goes across the Institute and that will prepare CRE students to be leaders in the field.”