Financial Services >> Analyst Interviews >> February 16, 2004


ARLENE ISAACS-LOWE, CPA, CFA, is a Senior Vice President in Moody's Investors Service's Real Estate Finance Team. Ms. Isaacs-Lowe has over 20 years of real estate and financial analysis experience, having applied her expertise in various capacities within the real estate industry ranging from financial management to portfolio management and credit analysis. As a senior member of Moody's Real Estate Finance Team, she not only monitors the credit quality for a portfolio of REITs, REOCs, mortgage insurers, mortgage banks and other related entities, but is also instrumental in formulating Moody's fundamental rating rationale for the commercial and single family real estate industry. Ms. Isaacs- Lowe brings a unique and valuable perspective in analyzing real estate companies, having honed her real estate acumen as a portfolio manager for several real estate commingled funds, combined with her broader financial management expertise gained while serving as the Chief Financial Officer and Principal of a real estate investment advisory firm. She is a member of Moody's Financial Institutions Capital Adequacy Committee, which defines capital adequacy and oversees the development of related quantitative tools for financial institutions. Having authored several articles and research publications, Ms. Isaacs- Lowe is also a frequent speaker at various trade association conferences. She is a member of PREA and NAREIT. She also sits on the Board of Directors for the Enterprise Social Investment Corporation (a low income housing tax syndicator) and The New York State Society of CPA's COAP Program. Profile
TWST: The topic is financing growth in REITs. What do you see going on

there at this point?

Ms. Isaacs-Lowe: Because there has been somewhat of a disconnect between

REIT share pricing,