Andrea Palmer
I’m originally from Chicago and am now based in Amsterdam. I specialize in environmental, social, and governance (ESG) integration and impact investing in real assets. I’ve been working at the intersection of sustainability and investment management since 2014, and have experience across a range of institution types including commercial fund managers, asset owners and ESG data providers. I have led ESG integration work across both public securities and private market investments.
“For me, this program was about expanding my horizon and ensuring that I was able to understand real estate at a much deeper level.”
Expanding horizons and forming lasting relationships
By her own admission, Andrea Palmer didn’t “understand much about buildings” before embarking on the Global Master in Real Estate Development: as a real estate investor, she was more used to viewing the built environment from a more abstract perspective. For her, the program was about expanding her horizons and understanding real estate and city planning at a much deeper level. “It covers a lot of ground,” she notes, “everything from very hard investment capabilities all the way down to urban philosophy, which is what creates the bridge needed to be a good real estate developer.”
Working with a group of fellow professionals was the highlight of the program for Andrea. “While of course this is a program where we learn a lot from our professors, I think I can say I learned the most from my classmates,” she says, adding that the lasting relationships she formed made the program “absolutely worthwhile.” She was also struck by the comprehensive, multidisciplinary nature of the Global Master in Real Estate Development, an experience which culminated in the capstone project her group undertook for a site in Bologna, Italy.
Andrea’s group worked on a project in an area of Bologna which had been identified both by C40 and the City of Bologna as a “challenging site.” The area had multiple issues, including the fact that there were several lines of train tracks which were disconnected from each other. “We had to create a strong connection, which required an urban planning philosophy,” she explains.
The capstone project had several environmental, social and governance (ESG) components, three of which stood out to Andrea as most important. One was the design principles of the structures themselves, which had to ensure that their solution was equipped to operate within the CRREM pathways for real estate. The second was the energy generation capacity. “We wanted to think about real estate as an energy source, as opposed to just an energy consumer,” she explains. The group succeeded in building an energy-neutral planning system.
“For me, the best part about it was the comprehensive and multidisciplinary nature of the program.”
Finally, Andrea notes biodiversity integration as a key factor. Their site was immediately adjacent to a green site—which was closed off to the public due to contamination. “So our carbon offsetting program was actually just next door,” says Andrea. “It was to restore this currently degraded land and to create a new amenity for our plot, both for visitors and residents.”
As the winner of the Women in Real Estate High Potential Awards Scholarship, Andrea is quick to point out that she would not have been able to participate in this program without the opportunity provided by the scholarship. In addition to the financial aid, the scholarship gave her the motivation to put extra effort into the program and ensure she got as much out of it as possible. It was, she says, “an amazing opportunity that I’m very grateful for.”
Andrea’s advice for aspiring students of the Global Master in Real Estate Development? “You’re going to be introduced to new ideas about real estate investment that you may not have encountered before,” she says—so it’s best to approach the program with an open mind and a willingness to learn.
