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<p class=MsoNormal><b style='mso-bidi-font-weight:normal'><font size=3
color=navy face=Tahoma><span style='font-size:12.0pt;font-family:Tahoma;
color:navy;font-weight:bold'>AACRE Board<o:p></o:p></span></font></b></p>
<p class=MsoNormal><b style='mso-bidi-font-weight:normal'><font size=3
color=navy face=Tahoma><span style='font-size:12.0pt;font-family:Tahoma;
color:navy;font-weight:bold'>of Directors<o:p></o:p></span></font></b></p>
<p class=MsoNormal><font size=3 color=red face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:red'><![if !supportEmptyParas]> <![endif]><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Mecky Adnani<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Mark Baranski<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Kristin Blount<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Stephanie
Bright<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Kirstin Brown<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Benjamin
Brubaker<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Walker Collier<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Peter Crabtree<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Marion
Cunningham<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Lisa Davis<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Whitney Foutz<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Trevor Hardy<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Jay Hooper<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Rachel Matthai<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Tod McGrath<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Kristin Olsen<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Kristi Prigmore<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Amanda Strong<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Cessy Templeton<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>Forrest Westin<o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color="#d80000" face=Tahoma><span
style='font-size:12.0pt;font-family:Tahoma;color:#D80000'>James Young<o:p></o:p></span></font></p>
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style='font-size:12.0pt;color:red'><![if !supportEmptyParas]> <![endif]><o:p></o:p></span></font></p>
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<td width=564 valign=top style='width:423.0pt;padding:0in 5.4pt 0in 5.4pt'>
<p class=MsoNormal><font size=3 color=black face="Times New Roman"><span
style='font-size:12.0pt;color:black'>April 16, 2004</span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face="Times New Roman"><span
style='font-size:12.0pt;color:black'><![if !supportEmptyParas]> <![endif]></span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face="Times New Roman"><span
style='font-size:12.0pt;color:black'>Greetings Fellow CRE Alums,</span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face="Times New Roman"><span
style='font-size:12.0pt;color:black'><![if !supportEmptyParas]> <![endif]></span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><font size=3 color=black
face="Times New Roman"><span style='font-size:12.0pt;color:black'>Great
things are happening at the Center this year, and it has been an especially
active year for the Alumni Association of the Center for Real Estate
(AACRE).<span style="mso-spacerun: yes"> </span>We would like to take
this opportunity to share the excitement with you, and to ask you to renew
your commitment and connection to the center by joining our Alumni
Association annual membership drive.</span></font><font color=black><span
style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><font size=3 color=black
face="Times New Roman"><span style='font-size:12.0pt;color:black'><![if !supportEmptyParas]> <![endif]></span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><font size=3 color=black
face="Times New Roman"><span style='font-size:12.0pt;color:black'>First of
all, to help us re-organize our administration and service our alums outside
of the northeast, we have organized AACRE under the MIT Alumni Association
umbrella.<span style="mso-spacerun: yes"> </span>This does not change
the way we do our day-to-day business, but rather provides us with a true
non-profit platform, insurance and the ability to register and pay for our
dues and events on line.<span style="mso-spacerun: yes"> </span>More
importantly, it gives us a link to MIT Clubs in various cities to align
ourselves in planning events.<span style="mso-spacerun: yes">
</span>Second, we are working with the Center on an important initiative that
will benefit all of the alums. We are in the early stages of planning a
secure, interactive website that will allow alums to communicate easily and
freely about questions, job leads, published papers, and other information.
The Center has been extremely generous,</span></font><font size=1
color=black><span style='font-size:9.0pt;color:black'> </span></font><font
color=black><span style='color:black'>both financing and spearheading this</span></font><font
size=1 color=black><span style='font-size:8.0pt;color:black'> </span></font><font
color=black><span style='color:black'>effort.</span></font><font size=1
color=black><span style='font-size:8.0pt;color:black'> </span></font><font
color=black><span style='color:black'>Please</span></font><font size=1
color=black><span style='font-size:8.0pt;color:black'> </span></font><font
color=black><span style='color:black'>visit the Center’s website (<a
href="http://web.mit.edu/cre/">http://web.mit.edu/cre/</a>) for our calendar
of events.<span style="mso-spacerun: yes"> </span>If your contact
information has changed, you can update it there too.</span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><font size=3 color=black
face="Times New Roman"><span style='font-size:12.0pt;color:black'><![if !supportEmptyParas]> <![endif]></span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><font size=3 color=black
face="Times New Roman"><span style='font-size:12.0pt;color:black'>Here in
Boston, we’ve been busy.<span style="mso-spacerun: yes"> </span>The
AACRE Breakfast Clubs are underway and will be held quarterly.<span
style="mso-spacerun: yes"> </span>This past December, Randi Lathrop and
Andrew Grace from the BRA gave an interesting presentation on the
revitalization of the city’s South End, and at the beginning of this month
Tom Meagher from Northeast Apartment Advisors gave a presentation on the
state of the multi-family market.<span style="mso-spacerun: yes">
</span>In June, CRE Director and Professor David Geltner will speak to us
about discount rates.<span style="mso-spacerun: yes"> </span>In
addition, we held one of our semi-annual cocktail parties/development site
tours at Spaulding & Slye’s offices and featured the North Point
Project.<span style="mso-spacerun: yes"> </span>We plan to hold the
spring party on May 13<sup>th</sup> at 5:30pm at 100 Cambridge Street,
MassDevelopment’s first Class A Office rehab and mixed-use development.<span
style="mso-spacerun: yes"> </span>We are also planning a Spring
Symposium, jointly run with NEWIRE.<span style="mso-spacerun: yes">
</span>Stay tuned for details.</span></font><font color=black><span
style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><font size=3 color=black
face="Times New Roman"><span style='font-size:12.0pt;color:black'><![if !supportEmptyParas]> <![endif]></span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><font size=3 color=black
face="Times New Roman"><span style='font-size:12.0pt;color:black'>Across the
country, we hosted social and educational events in New York, Miami,
Washington DC, and California.<span style="mso-spacerun: yes">
</span>We pair up with the Center on academic or recruiting visits and our
alums have planned separate events as well.<span style="mso-spacerun:
yes"> </span>New York has been especially active co-sponsoring several
events with the MIT Club of NY.</span></font><font color=black><span
style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><font size=3 color=black
face="Times New Roman"><span style='font-size:12.0pt;color:black'><![if !supportEmptyParas]> <![endif]></span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><font size=3 color=black
face="Times New Roman"><span style='font-size:12.0pt;color:black'>Finally, we
are hoping to re-establish a scholarship for a current student and an
occasional social hour for the students.<span style="mso-spacerun:
yes"> </span>We believe that providing students the opportunity to
interact with alumni is valuable and integral to their CRE experience.</span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><font size=3 color=black
face="Times New Roman"><span style='font-size:12.0pt;color:black'><![if !supportEmptyParas]> <![endif]></span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><font size=3 color=black
face="Times New Roman"><span style='font-size:12.0pt;color:black'>We are
excited about the Center’s commitment to its alumni and our role in planning
for its future and in the creative programs that they are embarking on.<span
style="mso-spacerun: yes"> </span>We are especially excited about the
Center’s upcoming 20<sup>th</sup> Anniversary campaign and celebration.<span
style="mso-spacerun: yes"> </span>Events will begin late this summer,
and we will begin fundraising next month.<span style="mso-spacerun:
yes"> </span>If you have not been tapped to participate or donate yet,
you will be!<span style="mso-spacerun: yes"> </span>We hope you will
take advantage of the opportunity to network with 20 years of leaders in the
real estate industry and to show your support for the Center.</span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal style='text-align:justify'><font size=3 color=black
face="Times New Roman"><span style='font-size:12.0pt;color:black'><![if !supportEmptyParas]> <![endif]></span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face="Times New Roman"><span
style='font-size:12.0pt;color:black'>Truly, CRE Alumni are the strength of
the Center.<span style="mso-spacerun: yes"> </span>Your membership
demonstrates this support and perpetuates our ability to apply this
strength.<span style="mso-spacerun: yes"> </span>Your dues provide the
AACRE with the funds it needs to operate and continue offering fun events,
great networking opportunities, and an ever-increasing number of real estate resources.<span
style="mso-spacerun: yes"> </span>Not only is becoming an AACRE member
the right thing to do for yourself and fellow alums, it could benefit your
bottom line.<span style="mso-spacerun: yes"> </span>You will receive
discounted admissions to AACRE events, 10% off of professional development
courses and 50% off of Center publications.<span style="mso-spacerun:
yes"> </span>Memberships run for a calendar year.</span></font><i><font
color=black><span style='color:black;mso-color-alt:windowtext;font-style:
italic'><o:p></o:p></span></font></i></p>
<p class=MsoNormal><i><font size=3 color=black face="Times New Roman"><span
style='font-size:12.0pt;color:black;font-style:italic'><![if !supportEmptyParas]> <![endif]></span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></i></p>
<p class=MsoNormal><font size=3 color=black face="Times New Roman"><span
style='font-size:12.0pt;color:black'>This year we have made it easier for you
to become a member.<span style="mso-spacerun: yes"> </span>Thanks to
joining the larger MIT Alumni Association, CRE Alumni can pay their dues on
line by clicking on <a
href="https://alum.mit.edu/smarTrans/user/PayDues.dyn?groupID=189">https://alum.mit.edu/smarTrans/user/PayDues.dyn?groupID=189</a>
and logging in using your Infinite Connection login. (Your login will
be the same as your alumni e-mail and password.<span style="mso-spacerun:
yes"> </span>If you’ve not signed up for this, you may do so at the
alumni website <a href="http://alum.mit.edu/as/">http://alum.mit.edu/as/</a>).<span
style="mso-spacerun: yes"> </span>Select the dues type you'd like to
pay from the simple, secure, one-page form, enter your billing and credit
card information, and your dues are paid for this fiscal year.<span
style="mso-spacerun: yes"> </span>If you would prefer to complete your
membership by mail, click on the “Request to Pay Dues” option on the dues
payment website and you will be sent a form.<span style="mso-spacerun:
yes"> </span>If you have questions or comments about becoming a member,
please contact the membership chairs, Lisa Davis (<a
href="mailto:ldavis@ndevelop.com">ldavis@ndevelop.com</a>) or Mecky Adnani (<a
href="mailto:madnani@recapadvisors.com">madnani@recapadvisors.com</a> ).</span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face="Times New Roman"><span
style='font-size:12.0pt;color:black'><![if !supportEmptyParas]> <![endif]></span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face="Times New Roman"><span
style='font-size:12.0pt;color:black'>Thank you for your continued
participation in the Center for Real Estate and with the AACRE.</span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
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<font size=3 color=black face="Times New Roman"><span style='font-size:12.0pt;
color:black'>With best regards,</span></font><font color=black><span
style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face="Times New Roman"><span
style='font-size:12.0pt;color:black'>Kristin E. Blount<span style='mso-tab-count:
5'> </span>Jay
G. Hooper</span></font><font color=black><span style='color:black;mso-color-alt:
windowtext'><o:p></o:p></span></font></p>
<p class=MsoNormal><font size=3 color=black face="Times New Roman"><span
style='font-size:12.0pt;color:black'>President<span style='mso-tab-count:
5'> </span>President-Elect</span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
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style='mso-tab-count:4'> </span><a
href="mailto:jhooper@criccapital.com">jhooper@criccapital.com</a></span></font><font
color=black><span style='color:black;mso-color-alt:windowtext'><o:p></o:p></span></font></p>
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