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<DIV><FONT face=Arial size=2><IMG alt="MITCenter for Real Estate" hspace=0
src="cid:689441113@25042003-14ee" align=baseline border=0></FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial color=#0000ff
size=4><STRONG>Happy Holidays!</STRONG></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial color=#0000ff
size=4><STRONG></STRONG></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial>In preparation for the
Center's Strategic Planning Retreat in January, Director David Geltner
wrote:</FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><EM>"If the vision that
motivated the establishment of the CRE 20 years ago is to see fruition in the
21st century, then the three major constituencies with a stake in this vision -
MIT, The Center's own alumni, and the real estate industry - must all work
together and commit the energy and resources necessary to make this vision
happen. The time is now."</EM></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT size=2><SPAN class=689441113-25042003>
<DIV><STRONG><FONT face=Arial size=3></FONT></STRONG> </DIV>
<DIV><FONT face=Arial size=3><SPAN class=689441113-25042003>With this sense of
being at the threshold of great things, the Center is looking forward towards a
revitalized MSRED program, a re-invigorated, cutting-edge,
industry-relevant research program, and enhanced connections with our
alumni/ae and the real estate industry. As we glimpse 2004 and beyond,
these are our goals and objectives.</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=3><SPAN
class=689441113-25042003></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=3><SPAN
class=689441113-25042003></SPAN></FONT></SPAN></FONT> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=4><STRONG>ALUMNI/AE
INITIATIVES</STRONG></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><STRONG><FONT face=Arial
size=2></FONT></STRONG></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><STRONG><EM>Alumni/ae
Survey</EM></STRONG>. On November 17, 2003, David Geltner sent all of the
alums a survey, and resp</FONT></SPAN><SPAN class=689441113-25042003><FONT
face=Arial>onses were processed until December 5th. Almost 15%
of the alumni/ae body responded to the survey. We are in the process of
analyzing the data, but look for a report of our findings in January 2004 and
thank you for participating!</FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003></SPAN><SPAN class=689441113-25042003><FONT
face=Arial></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><STRONG><EM>Alumni/ae
Forum</EM></STRONG>. We heard from four people about possible forum topics
and we would welcome a deluge of feedback. Please let us know what three
(3) topics or features you think would be crucial to the success of a
web-based, interactive alumni/ae forum. Send your ideas to <U><FONT
color=#0000ff>mit-cre</FONT></U></FONT><A href="mailto:mit-cre@mit.edu"><FONT
face=Arial>@mit.edu</FONT></A><FONT face=Arial
color=#0000ff><U>.</U></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial
size=2></FONT></SPAN> </DIV><SPAN class=689441113-25042003>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV>
<DIV><FONT face=Arial><STRONG><SPAN class=689441113-25042003><FONT size=4>MIAMI
PROGRAM "Boom or Bust"</FONT> </SPAN> </STRONG>(</FONT><A
href="http://web.mit.edu/cre/events.html#MiamiOTR"><FONT
face=Arial>http://web.mit.edu/cre/events.html#<SPAN
class=689441113-25042003>MiamiOTR</SPAN></FONT></A><FONT
face=Arial>)</FONT></DIV>
<DIV><FONT face=Arial></FONT> </DIV>
<DIV><FONT face=Arial><FONT size=2><FONT size=3><SPAN
class=689441113-25042003>Local Miami alums, the Miami Council of the Urban Land
Institute, </SPAN><SPAN class=689441113-25042003>and the
</SPAN>Center <SPAN class=689441113-25042003>hosted</SPAN></FONT><SPAN
class=689441113-25042003><FONT size=3> a program entitled "<EM>Boom or Bust: The
Future of Real Estate Investing.</EM>" Speakers included Bill
Wheaton, Lorenz Reibling (Taurus Investments), and Neisen Kasdin (ULI). An
article about the event along with Bill Wheaton's Power Point presentation are
posted on the "Events" page on the Center's web site:</FONT> <A
href="http://web.mit.edu/cre/events.html#MiamiOTR">http://web.mit.edu/cre/events.html#MiamiOTR</A>.</SPAN></FONT></FONT><SPAN
class=689441113-25042003><FONT size=2><FONT face=Arial><SPAN
class=689441113-25042003><SPAN
class=689441113-25042003></DIV></SPAN></SPAN></FONT></FONT></SPAN></DIV>
<DIV><FONT face=Arial><BR></FONT></DIV></SPAN><SPAN
class=689441113-25042003><FONT size=2></FONT></SPAN>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><SPAN
class=689441113-25042003><FONT
face="Times New Roman"></FONT></SPAN></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><SPAN
class=689441113-25042003><STRONG></STRONG> </DIV>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><FONT face=Arial><SPAN
class=689441113-25042003><STRONG><FONT size=4>CALL FOR THESIS TOPICS</FONT>
(</STRONG><A href="http://web.mit.edu/cre/PDF/Memberthesisltr2003.pdf"
eudora="autourl"><FONT
face="Times New Roman">http://web.mit.edu/cre/PDF/Memberthesisltr2003.pdf</FONT></A><STRONG>)</STRONG></SPAN></FONT></P>
<P class=MsoNormal style="MARGIN: 0in 0in 0pt"><FONT face=Arial><SPAN
class=689441113-25042003></SPAN></FONT> </P><FONT size=2><SPAN
class=689441113-25042003>
<DIV><FONT face=Arial><FONT size=3><SPAN class=689441113-25042003>We are in the
process of soliciting thesis ideas. If you have one, take a look at the
requirements outlined on the Center's web page (<A
href="http://web.mit.edu/cre/PDF/Memberthesisltr2003.pdf" eudora="autourl"><FONT
face="Times New Roman">http://web.mit.edu/cre/PDF/Memberthesisltr2003.pdf</FONT></A><FONT
color=#000000>)</FONT> and direct your proposal to Maria Vieira (<A
href="mailto:mvieira@mit.edu">mvieira@mit.edu</A> or 617-258-5672).</SPAN>
</FONT></FONT></DIV>
<DIV><STRONG><FONT size=3></FONT></STRONG> </DIV>
<DIV><STRONG><FONT
size=3></FONT></STRONG> </DIV></SPAN></FONT></SPAN></FONT></SPAN><FONT
face=Arial size=2><STRONG><SPAN
class=689441113-25042003></SPAN></STRONG></FONT><SPAN
class=689441113-25042003><FONT size=2><SPAN class=689441113-25042003><SPAN
class=689441113-25042003>
<DIV>
<DIV dir=ltr>
<DIV><SPAN class=689441113-25042003>
<DIV><SPAN class=689441113-25042003><STRONG><FONT face=Arial size=4>SAVE THE
DATES</FONT></STRONG></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><STRONG><FONT face=Arial
size=3></FONT></STRONG></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><FONT size=3><SPAN
class=689441113-25042003><FONT face=Arial><STRONG><EM>March 11, 2004.
</EM></STRONG></FONT></SPAN><SPAN class=689441113-25042003><FONT face=Arial>The
Center for Real Estate will be making its annual trip to New York
City. As part of this trip, Prof. David Geltner will be making a
presentation to the New York alumni/ae community. Keep an eye on the
CRE web site for details.</FONT></SPAN></FONT></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><STRONG><FONT face=Arial
size=3><EM></EM></FONT></STRONG></SPAN> </DIV>
<DIV><FONT size=3><SPAN class=689441113-25042003><STRONG><FONT
face=Arial><EM>April 27, 2004. </EM></FONT></STRONG></SPAN><SPAN
class=689441113-25042003><FONT face=Arial>The Center for Real Estate has joined
forces with the Boston Council of the Urban Land Institute to put together
a program on the fate of tourism and the convention center business. The
program will be held the morning of Tuesday, April 27th. Details will be
presented in future e-newsletters and posted on the Center's web
page.</FONT></SPAN></FONT></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial
size=3></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><FONT
size=3><STRONG><EM>May 25, 2004.</EM></STRONG> A webcast of student thesis
proposals is planned for Tuesday, May 25, 2004. Students will present
their thesis ideas for feedback from the alumni/ae and member
communities.</FONT></FONT></SPAN></DIV>
<DIV><FONT size=3><SPAN class=689441113-25042003><FONT
face=Arial></FONT></SPAN><SPAN class=689441113-25042003><FONT
face=Arial></FONT></SPAN></FONT></SPAN> </DIV></DIV>
<DIV><FONT size=3><SPAN class=689441113-25042003><STRONG><FONT
face=Arial><EM>September 30 - October 2, 2004.
</EM></FONT></STRONG></SPAN><SPAN class=689441113-25042003><FONT face=Arial>Next
year Alumni Reunion weekend will be September 30th through October 2nd.
Mark your calendars now and make plans to visit the Center! We are also
targeting this period for a signature event related to the Center for Real
Estate's 20th Anniversary.</FONT></SPAN></FONT></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT
face=Arial></FONT></SPAN> </DIV></SPAN></SPAN></DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><SPAN class=689441113-25042003>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><SPAN
class=689441113-25042003><FONT face="Times New Roman"> </FONT>
<DIV><SPAN class=689441113-25042003><STRONG><FONT face=Arial size=4>PROFESSIONAL
DEVELOPMENT COURSES</FONT></STRONG></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><STRONG><FONT face=Arial
size=3></FONT></STRONG></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><SPAN
class=689441113-25042003><FONT face=Arial size=3>During the summer of 2004, the
Center will be offering three new Professional Development
Courses:</FONT></SPAN></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=3><SPAN
class=689441113-25042003></SPAN></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><FONT size=3><SPAN
class=689441113-25042003><FONT face=Arial><STRONG><EM>Green Development.
</EM></STRONG></FONT></SPAN><SPAN class=689441113-25042003><FONT face=Arial>This
will be a two-day course taught by Bill Browning ('91) and Joyce Lee ('89)
during July. The course is designed to give an in-depth overview as well
as a level of hands-on experience related to green
development.</FONT></SPAN></FONT></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=3><SPAN
class=689441113-25042003></SPAN></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><SPAN
class=689441113-25042003>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><FONT size=3><SPAN
class=689441113-25042003><FONT face=Arial><STRONG><EM>Legal Issues in the
Development Process. </EM></STRONG>Taught by Elliot Surkin, Managing
Partner, Piper Rudnick, t</FONT></SPAN><SPAN class=689441113-25042003><FONT
face=Arial>his one-day course will address the legal issues that arise in
acquisitions, financing, and leasing.</FONT></SPAN></FONT></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=3><SPAN
class=689441113-25042003></SPAN></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT face=Arial><FONT
size=3><SPAN class=689441113-25042003><FONT face=Arial><STRONG><EM>Affordable
Housing. </EM></STRONG></FONT></SPAN><SPAN class=689441113-25042003><FONT
face=Arial>This will be a two-day course taught by Stephen
Nolan, Partner, Piper Rudnick. Mr. Nolan will address the business,
legal, and financial aspects of developing affordable
housing.</FONT></SPAN></FONT></FONT></SPAN></SPAN></FONT></SPAN></SPAN></FONT></SPAN></DIV></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><SPAN
class=689441113-25042003></SPAN></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><SPAN
class=689441113-25042003></SPAN></FONT></SPAN> </DIV></SPAN></FONT></SPAN></DIV>
<DIV></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><STRONG><FONT
face=Arial>Reminders and Notices </FONT></STRONG></DIV></DIV>
<UL>
<LI><SPAN class=689441113-25042003><FONT face=Arial><STRONG>State of the
Center</STRONG>. If you did not receive a copy of David Geltner's
<EM>State of the Center</EM> report and would like one, contact Rosrin (<A
href="mailto:rosrin@mit.edu">rosrin@mit.edu</A>, 617-253-8311).</FONT></SPAN>
<LI><SPAN class=689441113-25042003><FONT face=Arial><STRONG>Class of 2003
Theses (</STRONG></FONT><A href="http://web.mit.edu/cre/thesis.html"><FONT
face=Arial>http://web.mit.edu/cre/thesis.html</FONT></A><FONT
face=Arial><STRONG>).</STRONG> Thesis titles are on line and in January
we hope to have the theses on line as well. Take a look!
There may be some topics that could be of use to you. </FONT></SPAN>
<LI><FONT face=Arial><STRONG><SPAN class=689441113-25042003>Updated
</SPAN>Alumni Directory<SPAN class=689441113-25042003> <EM><FONT
color=#008000>Now Available</FONT></EM></SPAN>.</STRONG>
The Center <SPAN class=689441113-25042003>has updated the
Alumni</SPAN> Directory<SPAN class=689441113-25042003>. To get an
electronic copy of the updated Directory contact</SPAN> Stephanie Bright
at </FONT><A href="mailto:sbright@mit.edu"><FONT
face=Arial>sbright@mit.edu</FONT></A><FONT face=Arial> or 617-253-8308<SPAN
class=689441113-25042003>. </SPAN></FONT>
<LI><FONT face=Arial><STRONG><FONT color=#000000>Class of 200<SPAN
class=689441113-25042003>4</SPAN> Resume Book</FONT></STRONG> (</FONT><A
href="http://web.mit.edu/cre/resumehome.html"><FONT
face=Arial>http://web.mit.edu/cre/resumehome.html</FONT></A><FONT
face=Arial>). The <SPAN class=689441113-25042003> Class of 2004
resume book joins the </SPAN>Class of 2003 resume book on line. Take a
look<SPAN class=689441113-25042003>; you will be impressed</SPAN><SPAN
class=689441113-25042003>!</SPAN></FONT>
<LI><FONT face=Arial><STRONG>Job Listings (</STRONG></FONT><A
href="http://web.mit.edu/cre/jobhome.html"><FONT
face=Arial>http://web.mit.edu/cre/jobhome.html</FONT></A><FONT
face=Arial><STRONG>).</STRONG> Have a job <SPAN
class=689441113-25042003>you want to fill or seeking a new
opportunity</SPAN>? We have the right person<SPAN
class=689441113-25042003> and the right job</SPAN>!
Send your job listings<SPAN class=689441113-25042003> to <A
href="mailto:marionoc@mit.edu">marionoc@mit.edu</A></SPAN> and I will
post them<SPAN class=689441113-25042003>. </SPAN></FONT>
<LI><FONT face=Arial><STRONG>Alumni Projects (</STRONG></FONT><A
href="http://web.mit.edu/cre/alumni.html"><FONT
face=Arial>http://web.mit.edu/cre/alumni.html</FONT></A><FONT
face=Arial><STRONG>).</STRONG> Send <SPAN
class=689441113-25042003>me (<A
href="mailto:marionoc@mit.edu">marionoc@mit.edu</A>) n</SPAN>otices of your
projects, publications, promotions, and noteworthy events<SPAN
class=689441113-25042003> for posting on the MIT/CRE web
site</SPAN>. <SPAN class=689441113-25042003> </SPAN>
</FONT></LI></UL></SPAN></SPAN>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT face=Arial>Best
regards,</FONT></SPAN></DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT
face=Arial></FONT></SPAN> </DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT
face=Arial></FONT></SPAN> </DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT size=2><BR><FONT
face=Arial>Marion O. Cunningham<BR>Associate Director<BR>MIT/Center for Real
Estate<BR>77 Massachusetts Avenue<BR>W31-310<BR>Cambridge, MA
02139-4307<BR>Phone: (617)
253-2680<BR>Fax: (617) 258-6991<BR></FONT><A
href="http://web.mit.edu/cre/" eudora="autourl"><FONT
face=Arial>http://web.mit.edu/cre/</FONT></A><BR><BR><FONT face=Arial
size=3><I><STRONG>CRE: 20 Years of Building the
Future</STRONG></I></FONT></FONT></SPAN></DIV></SPAN></FONT></SPAN></DIV></SPAN></DIV></BODY></HTML>