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Cynthia Holmes

Dr. Cynthia Holmes

Associate Dean, Faculty & Academic | Associate Professor
DepartmentReal Estate Management
EducationBSc, MBA, PhD
OfficeTRS 2-058
Phone416-979-5000, ext. 6320


Cynthia Holmes is Associate Professor at the Ted Rogers School of Management at Ryerson University where she teaches real estate courses at the undergraduate and MBA level. She obtained her B.Sc. in Mathematics and Computer Science from McGill University, her MBA in Finance from Concordia University and her PhD in Real Estate Finance and Economics from the University of British Columbia. Prior to joining Ryerson, she held academic positions at the Schulich School of Business at York University and at Florida State University. She has ten years of industry experience with Standard Life Assurance Company, including several years in the Mortgage Investment department.

She is the founding Chair of the Real Estate Management Department, established in 2014. She is currently serving as the Associate Dean, Faculty and Academic, for the Ted Rogers School of Management.  

Cynthia Holmes' research interests are real estate finance and housing policy. In the real estate finance area, she conducts research about the default and prepayment risk of residential and commercial mortgages, the accurate measurement of real estate prices and the portfolio implications of the risk and return characteristics of real estate and mortgage assets. On the housing policy side, she investigates policy decisions regarding the condition and affordability of housing for low-income families and the effect of neighbourhood characteristics on housing. 

She has received research grants from the Real Estate Research Institute, Ryerson University, FSU and the Schulich School of Business. Her doctoral dissertation entitled Three Essays on Commercial Mortgages won the Real Estate Research Institute Doctoral Fellowship. Her work has been published in peer-reviewed academic journals and presented at many academic conferences. She is a member of CREW, ARES and AREUEA and is the the Vice-Chair of the Toronto Zoo Board of Management.