Nils Kok (N.)
As a professor at Maastricht University, I conduct cutting-edge research on real estate & infrastructure investment. With over 20 years of academic and industry experience, I have published papers in leading journals, co-authored books, and received grants and awards for my work.
I also leverage my expertise and insights as an external member of the investment advisory committee at bpfBOUW, the largest pension fund for the construction industry in the Netherlands, and previously as a founder and executive director at GRESB, GeoPhy, and Avignon Capital. In these roles, I help shape and optimize the investment strategies, portfolios, and performance of these organizations, while also contributing to the advancement of sustainability and social impact in the real estate and infrastructure sectors.
Expertise
Nils Kok is Professor of Real Estate Finance at Maastricht University, where he also serves as Director of the Maastricht Center for Real Estate. His research spans urban economics and institutional real estate investment, with a particular focus on the economics of energy efficiency, sustainability, and climate risk in the built environment.
His work has been published in leading academic journals, including the American Economic Review, The Review of Economics and Statistics, The RAND Journal of Economics, The Journal of Public Economics, and Real Estate Economics. His research is regularly featured in international media outlets and industry publications, including The Guardian, Australian Financial Review, Handelsblatt, Het Financieele Dagblad, Bloomberg, and Europe Real Estate.
In addition to his academic work, Nils serves on the investment advisory committee of bpfBOUW, the largest pension fund for the Dutch construction industry. Previously, he was a non executive board member and Chief Economist at GeoPhy, a leading provider of real estate analytics and automated valuations, which was acquired by Walker & Dunlop in 2022. He also founded and led GRESB, the global ESG benchmark and analytics provider for real estate and infrastructure investments, which was acquired by General Atlantic in 2024.
Nils received his PhD from Maastricht University and lives in Maastricht with his wife, Lian, and their three children.
More information is available at www.nilskok.com.
Key publications
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Palacios Temprano, J. F., Kok, N., & Eichholtz, P. (2020). Moving to productivity: The benefits of healthy buildings. PLOS ONE, 15(8), Article 0236029. https://doi.org/10.1371/journal.pone.0236029More information about this publication
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Temprano, J. P., Eichholtz, P., Willeboordse, M., & Kok, N. (2020). Indoor environmental quality and learning outcomes: protocol on large-scale sensor deployment in schools. BMJ Open, 10(3), Article 031233. https://doi.org/10.1136/bmjopen-2019-031233More information about this publication
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Eichholtz, P., Holtermans, R., Kok, N., & Yonder, E. (2019). Environmental performance and the cost of debt: Evidence from commercial mortgages and REIT bonds. Journal of Banking & Finance, 102, 19-32. https://doi.org/10.1016/j.jbankfin.2019.02.015More information about this publication
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Holtermans, R., Kok, N., & Levy, S. G. (2019). Green Building Adoption Index for Office Buildings (2019). CBRE.More information about this publication
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Kok, N., Koponen, E.-L., & Martínez-Barbosa, C. (2017). Big Data in Real Estate? From Manual Appraisal to Automated Valuation. Journal of Portfolio Management, 43(6), 202-211. https://doi.org/10.3905/jpm.2017.43.6.202More information about this publication
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Andonov, A., Eichholtz, P. M. A., & Kok, N. (2015). Intermediated investment management in private markets: Evidence from pension fund investments in real estate. Journal of Financial Markets, 22, 73-103. https://doi.org/10.1016/j.finmar.2014.11.002More information about this publication
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Andonov, A., Kok, N., & Eichholtz, P. M. A. (2013). A global perspective on pension fund investments in real estate. Journal of Portfolio Management, 39(5), 32-42. https://doi.org/10.3905/jpm.2013.39.5.032More information about this publication
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Kahn, M. E., Kok, N., & Quigley, J. M. (2014). Carbon emissions from the commercial building sector: The Role of climate, quality, and incentives. Journal of Public Economics, 113, 1-12. https://doi.org/10.1016/j.jpubeco.2014.03.003More information about this publication
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Brounen, D., & Kok, N. (2011). On the economics of energy labels in the housing market. Journal of Environmental Economics and Management, 62(2), 166-179. https://doi.org/10.1016/j.jeem.2010.11.006More information about this publication
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Eichholtz, P. M. A., Kok, N., & Quigley, J. M. (2010). Doing Well by Doing Good: Green Office Buildings. American Economic Review, 100(5), 2492-2509. https://doi.org/10.1257/aer.100.5.2492More information about this publication
Teaching
2015 – present Department of Finance, Maastricht University
- Real Estate Finance (MSc.)
2012 – present Department of Finance, Maastricht University
- MSc. Thesis Coordinator (100-150 students/year)
- Internship Coordinator (50-75 students/year)
2009 – 2012 Luxembourg School of Finance
- Real Estate Finance and Investments (MBA)
2006 – 2012 Amsterdam School of Real Estate
- Real Estate Finance and Investments (MBA)
2008 – 2010 Amsterdam Institute of Finance
- Real Estate Finance and Investments (MBA)
2008 – 2009 Finance Ideas Academy
- Corporate Finance (MBA)
2004 – 2008 Department of Finance, Maastricht University
Junior Lecturer
- Real Estate Finance (MSc.)
- Financial Management and Policy (BSc.)
- Corporate Finance (BSc.)
- Investment Analysis (BSc.)
Work for third parties
- Adviseur Beleggingscommissie BPF Bouw at BPF Bouw