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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 Black"
color=#0000ff><STRONG></STRONG></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face="Arial Black"
color=#0000ff><STRONG>Greetings!</STRONG></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><SPAN
style="FONT-FAMILY: 'Times New Roman'"></SPAN></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT><SPAN
style="FONT-FAMILY: 'Times New Roman'"><FONT face=Arial>The Eastman Chair Search
Committee has met and selected three finalists, all of whom have visited
MIT.<SPAN style="mso-spacerun: yes"> </SPAN>We expect to make a decision
soon and will then move the appointment process through the departmental,
school, and Academic Council levels, with the Chair hopefully in place by the
end of the summer.<SPAN style="mso-spacerun: yes"> </SPAN>We have
redefined the position of the Eastman Chair to reflect the emphasis on
navigating effectively both the academic and industry environments, consistent
with our strong commitment to bridge the two in all our activities and
programs.<SPAN style="mso-spacerun: yes"> </SPAN>Moreover, given our
commitment to building our research platform, we felt the Center needed a
PhD-level Chair who would participate in research and, therefore, who could more
effectively bring this perspective to industry. Things are moving at an
aggressive clip so stay tuned.</FONT></SPAN></DIV></FONT></SPAN><SPAN
class=689441113-25042003><FONT size=2></FONT></SPAN>
<DIV><SPAN class=689441113-25042003><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial
size=4><STRONG></STRONG></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=2><STRONG><FONT
size=4>MIT/CRE RESEARCH INITIATIVES </FONT></STRONG>(<A
href="http://web.mit.edu/cre/research/index.html">http://web.mit.edu/cre/research/index.html</A>)</FONT><FONT
face=Arial size=2></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face="Arial Black"
size=4></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial>The CRE faculty is engaged
in several research initiatives. Each of these initiatives are
outlined on the Center's web site. Topics include the Workplace of the
Future, the development of a Commercial Property Pricing Index, and studies that
look at Single Family Housing Prices, the Term Structure of Office Leases, and
the Degree of Land Use Regulation in Massachusetts. Also under development
are research programs that assess housing affordability and ways to incorporate
and reflect technology in the development of urban areas.
</FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=2>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=2><FONT
size=4><STRONG>AMB PROPERTY CORPORATION</STRONG> <FONT size=3>(</FONT><A
href="http://web.mit.edu/cre/events/pdf/B%20FREEDMAN%20021204%20MIT%20FINAL.ppt"><FONT
size=3><FONT
size=2>http://web.mit.edu/cre/events/pdf/B%20FREEDMAN%20021204%20MIT%20FINAL.pp</FONT>t</FONT></A></FONT><FONT
size=3>)</FONT></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial
size=3></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><SPAN
class=689441113-25042003><FONT face=Arial size=3>On Friday, February 13th the
Class of 2004 was treated to an excellent overview of the industrial
sector. The overview was provided by Bruce Freedman, EVP with AMB Property
Corporation. A copy of Mr.. Freedman's Power Point is available on
the MIT/CRE web site: <A
href="http://web.mit.edu/cre/events/pdf/B%20FREEDMAN%20021204%20MIT%20FINAL.ppt"><FONT
size=3>http://web.mit.edu/cre/events/pdf/B%20FREEDMAN%20021204%20MIT%20FINAL.pp</FONT></A></FONT></SPAN></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=2><SPAN
class=689441113-25042003></SPAN></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=2><SPAN
class=689441113-25042003></SPAN></FONT></SPAN></FONT></SPAN><SPAN
class=689441113-25042003><FONT face=Arial
size=2></FONT></SPAN> </DIV></DIV>
<DIV><SPAN class=689441113-25042003>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><FONT size=2><SPAN class=689441113-25042003><FONT
size=3> </FONT></DIV>
<DIV>
<DIV><SPAN class=689441113-25042003><STRONG><FONT face=Arial size=4>ALUMNI/AE
DEVELOPMENTS</FONT></STRONG></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><STRONG><FONT face=Arial
size=3></FONT></STRONG></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><STRONG><FONT face=Arial size=3>Artist Space
Initiative, Boston, MA</FONT></STRONG></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=3>Peter Roth '85,
President, New Atlantic Development Corporation</FONT></SPAN></DIV>
<DIV><FONT face=Arial></FONT> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=3>New Atlantic was
designated developer by the Boston Redevelopment Authority to redevelop three
urban renewal parcels in the South End for a mixed- use project
that includes artist studios and gallery space, affordable artists'
live/work space, and market rate condominiums. This project represents the first
public land disposition related to the Mayor's Artist Space Initiative. It's a
really interesting and unusual project, and Peter is very excited to have won
the competition. A rendering of the project is on the CRE web page: <A
href="http://web.mit.edu/cre/alumni/alumprojects.html">http://web.mit.edu/cre/alumni/alumprojects.html</A></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial
size=3></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial
size=3></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003>
<DIV><SPAN class=689441113-25042003><STRONG><FONT face=Arial
size=3><U></U></FONT></STRONG></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=3><STRONG><U>Wall
Street Journal</U>, <EM>More Wires, More Brands, More Owners </EM>(WSJ,
2/9/2004) <EM> </EM></STRONG>(<A
href="http://web.mit.edu/cre/alumnews.html">http://web.mit.edu/cre/alumnews.html</A>)</FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=3>Andrew Henshon, '02
Boston Consulting Group</FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial
size=3></FONT></SPAN></SPAN><SPAN class=689441113-25042003><FONT
face=Arial></FONT></SPAN> </DIV></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial><SPAN
class=689441113-25042003><FONT face=Arial size=3>In the <U>Wall Street
Journal</U>'s February 9, 2004 article on real estate trends, CRE graduate
Andrew Henshon was quoted regarding the value of branding. To read the
full article, click here: (<A
href="http://web.mit.edu/cre/alumnews.html">http://web.mit.edu/cre/alumnews.html</A>)</FONT></SPAN></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><STRONG><FONT face=Arial
size=3></FONT></STRONG></SPAN> </DIV>
<DIV><FONT face=Arial size=3></FONT></SPAN></FONT><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT face=Arial><SPAN
class=689441113-25042003></SPAN></FONT></SPAN> </DIV>
<DIV>
<DIV dir=ltr>
<DIV>
<DIV><SPAN class=689441113-25042003><STRONG><FONT face=Arial
size=4></FONT></STRONG></SPAN> </DIV>
<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><FONT size=3><SPAN class=689441113-25042003><STRONG><FONT
face=Arial><EM></EM></FONT></STRONG></SPAN></FONT> </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 at Boston's Hynes
Convention Center. Additional 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!
</FONT></SPAN></FONT><SPAN class=689441113-25042003><FONT
face=Arial></FONT></SPAN></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><FONT size=4><STRONG>PROFESSIONAL
DEVELOPMENT COURSES (</STRONG><A
href="http://web.mit.edu/cre/professional/index.html">http://web.mit.edu/cre/professional/index.html</A><STRONG>)</STRONG></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><STRONG><FONT
size=3></FONT></STRONG></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><FONT
size=3>During the summer of 2004, the Center will be offering the following
Professional Development Courses:</FONT></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT size=2><SPAN
class=689441113-25042003></SPAN></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003>
<P><STRONG>June 14-15 <EM><BR></EM></STRONG><STRONG><EM>Fundamentals of Real
Estate Finance<SPAN class=689441113-25042003>. </SPAN></EM></STRONG>This
two-day seminar introduces the basic concepts and tools used by real estate
developers, investors, lenders, architects, and public sector officials to
analyze the financial feasibility of real estate development.</P>
<P></P>
<P><STRONG>June 16 -17<BR><EM>Real Estate
Development</EM></STRONG><SPAN><EM><STRONG>.</STRONG></EM> T</SPAN>his
course is designed to present the real estate development process primarily from
the perspective of the equity participant.</P>
<P></P>
<P><STRONG>June 18<BR><EM>Legal Issues in the Development
Process</EM></STRONG><SPAN class=689441113-25042003><EM>.
</EM></SPAN>Legal Issues in the Development Process will address the legal
issues that arise in acquisitions, financing, and leasing.</P>
<P></P>
<P><STRONG>June 21 - 22<BR><EM>Real Estate Markets<SPAN
class=689441113-25042003>.</SPAN></EM><SPAN class=689441113-25042003>
</SPAN></STRONG>The course will provide participants with the latest perspective
and economic research about what forces are currently shaping cities, and how US
real estate markets will likely behave in the decade ahead.</P>
<P></P>
<P><STRONG>June 23 - 24<BR><EM>Topics in Real Estate Finance<SPAN
class=689441113-25042003>. </SPAN></EM></STRONG>Current topics of interest
to real estate professionals will be addressed in this course. Topics will
include the pricing of commercial real estate, the optimal financial structure
for real estate organizations, and investment opportunities in the lower-rated
CMBS market.</P>
<P></P>
<P></P>
<P><STRONG>June 28 – 29 or July 19 - 20<BR><EM>Portfolio & Asset
Management<SPAN class=689441113-25042003>.</SPAN></EM></STRONG><SPAN
class=689441113-25042003> </SPAN>Portfolio and Asset Management is designed to
provide the student with an overview of the institutional process associated
with the selection, acquisition, management and disposition of real estate
assets.</P>
<P></P>
<P><STRONG>June 30 - July 1<BR><EM>Affordable Housing<SPAN
class=689441113-25042003> </SPAN>Development</EM><SPAN
class=689441113-25042003><EM>.</EM> </SPAN></STRONG>This two-day course
will address the business, legal, and financial aspects of developing affordable
housing.</P>
<P></P>
<P><STRONG>July 2004<BR><EM>Entrepreneurship in the Built Environment<SPAN
class=689441113-25042003>. </SPAN></EM></STRONG><SPAN
class=689441113-25042003> </SPAN>This one-day seminar will concentrate on
entrepreneurial opportunities in the built environment. The course will discuss
the concepts, skills, information, attitudes, and resources that entrepreneurs
need.</P>
<P></P>
<P><STRONG>July 15-16<BR><EM>Green Development<SPAN class=689441113-25042003>
.</SPAN></EM></STRONG>This two-day course is designed to give an in-depth
overview as well as a level of hands-on experience related to green
development.</P></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=689441113-25042003></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT size=2><SPAN
class=689441113-25042003></SPAN></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT size=2><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><FONT face=Arial><A
href="http://web.mit.edu/cre/research/thesis.html">http://web.mit.edu/cre/research/thesis.html</A></FONT><FONT
face=Arial><STRONG>).</STRONG> Theses are now <FONT
color=#ff0000>available on-line</FONT>. Take a look!
</FONT></SPAN>
<LI><SPAN class=689441113-25042003></SPAN><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
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><STRONG><FONT face=Arial><SPAN class=689441113-25042003><EM><FONT
color=#ff0000>Note New URL!! </FONT></EM></SPAN>Job Listings
(</FONT></STRONG><A href="http://web.mit.edu/cre/jobs/index.html"><FONT
face=Arial>http://web.mit.edu/cre/job<SPAN
class=689441113-25042003>s/index</SPAN>.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
size=3><EM><STRONG>Marion O. Cunningham<BR></STRONG></EM>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
size=3>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></DIV></SPAN></DIV></SPAN></DIV></BODY></HTML>