Milena Petrova
- Email Contact Me
- Phone 315-443-9631
- Department Online Programs, Real Estate
- Office 120F
In addition to her role as an active researcher, Dr. Petrova is a distinguished expert in real estate and corporate governance, accumulating over 20 years of experience in the field. She has provided consultancy services to investment professionals globally, spanning the USA, the Caribbean, Europe, Asia, Africa, and the Middle East. Dr. Petrova's advisory expertise includes the development, acquisition, and disposition of various commercial real estate assets, M&As involving valuation and post-merger integration, corporate restructuring, and business plan evaluation. She has also been instrumental as an advisor in establishing REITs and implementing tax-deferred exchanges.
Prior to her academic career, Dr. Petrova gained experience in management consulting at Booz Allen Hamilton and project finance at Finnvera. She holds a Ph.D. from the University of Florida, USA; master’s degrees from Hofstra University, USA, and Aalto University, Finland; and post-graduate certificates in industrial management from Helsinki University of Technology, Finland, Fintech from Oxford University, the UK, and Applied Machine Learning from Columbia University, USA.
Prof. Petrova has taught the following classes at Syracuse University:
FIN 960 Seminar in Finance (PhD Course)
FIN 855 Theory of Finance (PhD/MSF Course)
MBC 633 Managerial Finance (Graduate Course)
FIN 345 Financial Management (Undergraduate Course)
RES 662 Real Estate Finance & Investments (Graduate Course)
RES 631 Real Estate Principles (Graduate Course)
RES 362 Real Estate Finance & Investments (Undergraduate Course)
RES 332 Real Estate Principles (Undergraduate Course)
RES 492/692 Real Estate Modeling (Undergraduate/Graduate Course)
FIN 400/600 Alternative Investments: A Practitioner's Perspective
Publications
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Building Sustainability, Certification and Price Premiums: Evidence from Europe
2023 Journal of Real Estate Research, Ghosh, C.
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Board structure and market performance: Does one solution fit all?
2023 Journal of Financial Research,
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The Effect of Legal Environment and Regulatory Structure on Performance: Cross-Country Evidence from REITs
2021 Journal of Real Estate Finance and Economics,63,40-81, Ghosh, C.
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Innovations in Financing: The Case of Anchor Investors in Indian IPOs
2020 European Financial Management,26,1059-1106, Bhattacharya, A., Chakrabarti, B., Ghosh, C.
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The Benefits and Costs of Tax Deferral: An Analysis of Real Estate Tax-Deferred Exchanges
2020 Journal of Real Estate Literature,28,1,1-29, Barker, D., Ling, D.
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The Impact of Like-kind Exchanges on Investment, Leverage and Liquidity
2020 Journal of Real Estate Literature,1,28,205-237, Ling, D.
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Predictability of Real Estate Excess Returns: An Out-of-sample Economic Value Analysis
2020 Journal of Real Estate Finance and Economics, Guidolin, M.
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The Effect of Fair Value Method Adoption: Evidence from Real Estate Firms in the EU
2020 Journal of Real Estate Finance and Economics,60,205-237, Ghosh, C., Liang, M.
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On the Determinants of REIT Capital Structure: Evidence from around the World
2019 Journal of Real Estate Finance and Economics,59,2,295-328, Dogan, Y., Ghosh, C.
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Earnings and Price Momentum: New Insights from European Real Estate Firms
2018 Journal of Real Estate Finance and Economics,57,3,400-430, Bron, J., Ghosh, C.
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Search Costs, Behavioral Biases, and Information Intermediary Effects
2018 Journal of Real Estate Finance and Economics,57,1,114-151, Ling, D., Naranjo, A.
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The Other Side of Value: The Quality Premium in Real Estate Returns
2017 Journal of Real Estate Finance and Economics,54,3,429-457, Anzinger, S., Ghosh, C.
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The Impact of Capital Expenditures on Property and Portfolio Performance of Commercial Real Estate
2017 Journal of Real Estate Finance and Economics, Ghosh, C.
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Economic Consequences of Deregulation: Evidence from Removal of Shareholder Voting Cap in India
2016 Journal of Banking & Finance,72,19-38, Ghosh, C., Hilliard, J., Phani, B.
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Does IPO Pricing Reflect Public Information? New Insights from Equity Carve-Outs
2013 Financial Management, Ghosh, C., Feng, Z., Pattanapanchai, M.
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Demand for University Student Housing: An Empirical Analysis
2013 Journal of Housing Research,22,2,141-164, Ong, S., Spieler, A.
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Does deregulation induce competition in the market for corporate control? The special case of banking
2013 Journal of Banking & Finance,37,12,5220-5235, Ghosh, C.
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Does IPO Pricing Reflect Public Information? New Insights from Equity Carve-Outs
2012 Financial Management,41,1,1-33, Ghosh, C., Feng, Z., Pattanapanchai, M.
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Do REITs use cash reserves efficiently? Evidence from corporate acquisitions
2012 Journal of International Money and Finance,31,7,1953-1970, Ghosh, C., Xiao, Y.
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Why Do REITs Go Private? Differences in Target Characteristics, Acquirer Motivations, and Wealth Effects in Public and Private Acquisitions
2011 Journal of Real Estate Finance and Economics,43,1,99-129, Ling, D.
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Avoiding taxes at any cost: The economics of tax-deferred real estate exchanges
2008 Journal of Real Estate Finance and Economics,36,4,367-404, Ling, D.
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Value creation in REIT property sell-offs
2006 Real Estate Economics,34,2,329-342, Campbell, R., Sirmans, C.
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Managerial Characteristics and Hedge Fund Performance
2006 16,2,57-70, Maxam, C., Nikbakht, E., Spieler, A.
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Wealth Effects of Diversification and Financial Deal Structuring: Evidence from REIT Property Portfolio Acquisitions
2003 Real Estate Economics,31,3,347-366, Campbell, R., Sirmans, C.
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May 07, 2021
One University Assessment Award
Syracuse University -
Jan 01, 2021
Received - Ranked #8 among the most productive authors in real estate
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May 01, 2020
Whitman Teaching Fellow
Syracuse University -
Feb 21, 2020
Real Estate Research Consortium Grant 2020
The Real Estate Research Consortium -
Apr 07, 2017
Best Paper in Corporate Finance (Nomination)
European Financial Management Association -
Nov 01, 2014
Real Estate Roundtable Grant 2014-2015
Real Estate Round Table -
Jan 01, 2012
Best Paper Award for “Why do Managers Divest Corporate Assets? Insights from Equity Carve-outs
International Business Finance Conference, ICFAI Business School -
Jan 01, 2012
Received - Real Estate Research Institute Research Grant for “The Impact of Capital Expenditures on Property and Portfolio Performance of Commercial Real Estate"
Real Estate Research Institute -
Jan 01, 2012
Received - Real Estate Research Institute Research Grant for “Information, Search and Anchoring in Commercial Real Estate"
Real Estate Research Institute -
Jan 01, 2010
Nominated - Best Paper Award in Investments for “Heterogeneous Investors, Negotiation Strength, & Asset Prices in Private Markets: Evidence from Commercial Real Estate
Financial Management Association -
Jan 01, 2010
American Real Estate Society Best Research Paper for “Heterogeneous Investors, Negotiation Strength & Asset Prices in Private Markets: Evidence from Commercial Real Estate
CoStar Group -
Jan 01, 2010
Nominated - Nominated by the Dean of Whitman School of Management and the Department of Finance for receiving Syracuse University’s Teaching Recognition Award
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Jan 01, 2009
Recipient of the Oberwager Award for Outstanding Faculty
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Jan 01, 2008
Received - Real Estate Research Institute Research Grant for “Why Do REITs Go Private? Differences in Target Characteristics, Acquirer Motivations, and Wealth Effects in Public and Private Acquisitions"
Real Estate Research Institute -
Jan 01, 2007
CoStar Best Paper Award for Use of Commercial Real Estate Data
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Jan 01, 2006
ARES Doctoral Seminar Travel Award
ARES -
Jan 01, 2006
Received - Real Estate Research Institute Annual Conference Travel Grant
Real Estate Research Institute -
Jan 01, 2006
AREUEA Doctoral Session Travel Award
AREUEA -
Jan 01, 2003
Gerald R. Brown Award for Best Paper on Real Estate and Finance
Department of Real Estate, National University of Singapore
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Researchers from Syracuse University Describe Findings in Sustainability Research (Building Sustainability, Certification, and Price Premiums: Evidence From Europe)
December 28, 2023 Economics Daily Report -
These Three Forces Will Ensure 1031 Exchanges and Delaware Statutory Trusts Are Here to Stay
December 23, 2022 Lewlewmedia.com -
3 Reasons Delaware Statutory Trusts Are Here to Stay
October 27, 2022 Kiplinger -
HUGE FLAW IN BIDEN TAX PLAN WILL CRIPPLE THE AMERICAN ECONOMY
October 07, 2021 The Business Journal -
1031 Exchange and the Tax Reform Bill - What it could mean to investors
September 24, 2021 New England Real Estate Journal -
Capping 1031 exchanges would cripple Wisconsin farmers and CRE economy
August 12, 2021 BizTimes -
Capping 1031 exchanges is a recipe for stagnation, not recovery
August 02, 2021 New Orleans City Business -
Proposed cap for like-kind exchanges is shortsighted and counter productive
August 01, 2021 LegalNews.com -
Investors Fret as Biden Takes Aim at a 100-Year-Old Tax Loophole
June 08, 2021 New York Times -
Like-Kind Exchanges, Property Development and Improvement
May 11, 2021 EisnerAmper -
Section 1031 Helps Many and Is No Loophole
May 10, 2021 Wall Street Journal -
Biden Targets $41 Billion Tax Break for Rich Real Estate Investors
April 28, 2021 Bloomberg -
Whitman Research Magazine
April 01, 2021 Whitman School of Management -
The Political Path to Repeal the 1031 Exchange
March 15, 2021 GlobeSt.com -
THE BENEFITS AND COSTS OF 1031 EXCHANGES
March 01, 2021 Warrington College of Business -
Valuable Real Estate Tax Benefit Should Escape The Chopping Block, But For How Long?
January 18, 2021 Bezinga -
Our Digital Lives Drive a Brick-and-Mortar Boom in Data Centers
December 22, 2020 NY Times -
ADISA Co-Sponsored Academic Study Shows Real Estate Reliance on IRC Section 1031
September 16, 2020 ADISA -
Top Data Center REITs
November 06, 2019 Motley Fool -
Destiny USA adds more entertainment attractions to make up for retail market decline
August 07, 2019 WRVO -
Inside Destiny USA’s mortgage emergency: Crisis or hardball bargaining?
April 19, 2019 syracuse.com -
Inside Destiny USA’s mortgage emergency: Crisis or hardball bargaining?
April 19, 2019 syracuse.com -
WSJ Report: Destiny USA expected to default on mortgage in June
April 16, 2019 CNYCentral -
Why Data-Center REITs Are Promising And Risky
February 25, 2019 U.S. News & World Report -
Can Outlet Centers Continue to Succeed by Luring Shoppers with Bargains and ‘Experience?’
September 13, 2018 National Real Estate Investor -
8 REIT Categories With the Wind at Their Backs
April 06, 2018 U.S. News & World Report -
Study Quantifies Importance Of 1031 Exchanges To Industry, Economy
October 23, 2017 Bisnow -
$8 billion reasons to save key tax deferment from reform ax
August 18, 2017 The Hill -
Congress, Make Tax Reform Take the Long View
July 28, 2017 The Hill