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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 align=center><SPAN class=689441113-25042003><EM><STRONG><FONT
face=Arial>Elite o Visionary
o Relevant</FONT></STRONG></EM></SPAN></DIV>
<DIV align=center><SPAN class=689441113-25042003><STRONG><EM><FONT
face=Arial></FONT></EM></STRONG></SPAN> </DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT
face=Arial></FONT></SPAN> </DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT
face=Arial>I</FONT></SPAN></DIV>
<DIV align=left><SPAN class=689441113-25042003><STRONG><EM><FONT
face=Arial>Greetings!</FONT></EM></STRONG></SPAN></DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT
face=Arial></FONT></SPAN> </DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT face=Arial><SPAN
class=689441113-25042003><FONT size=+0><SPAN
style="FONT-FAMILY: 'Times New Roman'"><FONT size=2><FONT size=2><FONT
face=Arial><FONT size=3><SPAN
class=204292914-19072004></SPAN></FONT></FONT></FONT></FONT></SPAN></FONT></SPAN></FONT></SPAN> </DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT face=Arial>Included in this
edition of the MIT/CRE Alumni/ae E-newsletter are the following
items:</FONT></SPAN></DIV>
<UL>
<LI>
<DIV align=center><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT
face=Arial><STRONG>Alumni/ae Reunion Weekend!!</STRONG>
9/30-10/2</FONT></SPAN></SPAN></SPAN></DIV>
<LI>
<DIV align=center><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT face=Arial>Save
the Date: MIT/CRE 20th Anniversary -- March
2005</FONT></SPAN></SPAN></DIV></SPAN>
<LI>
<DIV align=center><SPAN class=689441113-25042003><FONT face=Arial>MIT Real
Estate Exchange (</FONT><A href="http://cre-mitrex.mit.edu/index.html"><FONT
face=Arial>http://cre-mitrex.mit.edu/index.html</FONT></A><FONT
face=Arial>)</FONT></SPAN></DIV>
<LI>
<DIV align=center><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><FONT face=Arial>Class of
2005</FONT></SPAN></SPAN></DIV>
<LI>
<DIV align=center><SPAN class=689441113-25042003><SPAN
class=689441113-25042003></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><FONT face=Arial>Reminders and
Notices</FONT></SPAN></DIV></SPAN></LI></UL>
<DIV align=left><FONT face=Arial><SPAN class=689441113-25042003></SPAN><SPAN
class=689441113-25042003>
<DIV align=left><SPAN class=689441113-25042003><FONT face=Arial><SPAN
class=689441113-25042003><FONT size=+0><SPAN
style="FONT-FAMILY: 'Times New Roman'"><FONT size=2><FONT size=2><FONT
face=Arial><FONT size=3><SPAN
class=204292914-19072004></SPAN></FONT></FONT></FONT></FONT></SPAN></FONT></SPAN></FONT></SPAN> </DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT face=Arial><SPAN
class=689441113-25042003><FONT size=+0><SPAN
style="FONT-FAMILY: 'Times New Roman'"><FONT size=2><FONT size=2><FONT
face=Arial><FONT size=3><SPAN class=204292914-19072004>MIT has entered into its
new fiscal year and thanks to many of you, we did so with a
bang! Over the last two months, about half of the Center's living
alumni/ae have given $588,685. The need for funding to support the "new
vision" of the Center is ongoing, so for those of you who have not given and
would like to do so, visit the following <A href="o">URL:</A> <A
title=http://web.mit.edu/giving/priorities/schools/architecture/cre.html
href="http://web.mit.edu/giving/priorities/schools/architecture/cre.html"><FONT
title=http://web.mit.edu/giving/priorities/schools/architecture/cre.html
face=Arial
size=3>http://web.mit.edu/giving/priorities/schools/architecture/cre.html</FONT></A>.</SPAN></FONT></FONT></FONT></FONT></SPAN></FONT></SPAN></FONT></SPAN></DIV></SPAN></FONT></DIV>
<DIV align=left><FONT face=Arial><SPAN
class=689441113-25042003></SPAN></FONT> </DIV>
<DIV align=left><FONT face=Arial><SPAN
class=689441113-25042003></SPAN></FONT> </DIV><SPAN
class=689441113-25042003><FONT size=4>
<DIV><SPAN class=689441113-25042003><FONT face=Arial
size=2></FONT></SPAN> </DIV><SPAN class=689441113-25042003>
<DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT
face=Arial><STRONG><EM>The</EM> <FONT color=#0000ff>MIT/CRE ALUMNI/AE REUNION
WEEKEND</FONT> </STRONG><SPAN class=204292914-19072004><STRONG><EM>is
almost here!</EM> (</STRONG><SPAN class=689441113-25042003>September 30 -
October 2,
2004<EM><STRONG>)</STRONG></EM></SPAN></SPAN></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><FONT face=Arial><SPAN
class=689441113-25042003><STRONG></STRONG></SPAN><SPAN
class=689441113-25042003><STRONG><EM></EM></STRONG></SPAN></FONT> </DIV></DIV>
<DIV dir=ltr></SPAN><SPAN class=689441113-25042003><FONT size=3><FONT
face=Arial>The Alumni Reunion weekend will be September 30th through October
2nd. <SPAN class=204292914-19072004>We are planning a weekend that will
offer you the opportunity to network with each other and have fun.
Here are some of the things we have planned:</SPAN></FONT></FONT></SPAN></DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT face=Arial size=3><SPAN
class=204292914-19072004></SPAN></FONT></SPAN> </DIV>
<UL dir=ltr>
<LI>
<DIV><SPAN class=689441113-25042003><SPAN
class=204292914-19072004></SPAN><FONT size=3><FONT face=Arial><SPAN
class=204292914-19072004>A</SPAN><SPAN
class=204292914-19072004> tour</SPAN> of MIT's
state-of-the-art Stata Center</FONT></FONT></SPAN></DIV>
<LI>
<DIV><SPAN class=689441113-25042003><FONT size=3><FONT face=Arial><SPAN
class=204292914-19072004>Alumni reception at the </SPAN>MIT
Museum</FONT></FONT></SPAN></DIV>
<LI>
<DIV><SPAN class=689441113-25042003><FONT size=3><FONT face=Arial><SPAN
class=204292914-19072004>A</SPAN> review of the
alumni-inspired <SPAN class=204292914-19072004>"</SPAN>tools<SPAN
class=204292914-19072004>"</SPAN> -- MITREX and the Thesis
Webcast</FONT></FONT></SPAN></DIV>
<LI>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=3><SPAN
class=204292914-19072004>Presentations of alumni
projects</SPAN></FONT></SPAN></DIV></LI></UL>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT size=3><FONT face=Arial>A
summary of the events is below. <FONT color=#0000ff><FONT
color=#000000>To <SPAN class=204292914-19072004>RSVP and
</SPAN>register</FONT> <STRONG>(free of charge)</STRONG></FONT>, go on-line to
</FONT>
<DIV><A href="http://amps-tools.mit.edu/qtools/Q?qsetid=1661408061"
EUDORA="AUTOURL"><FONT
face=Arial>http://amps-tools.mit.edu/qtools/Q?qsetid=1661408061</FONT></A><FONT
face=Arial><FONT size=2>.</FONT></FONT></DIV>
<DIV><FONT face=Arial><FONT size=2><SPAN
class=689441113-25042003></SPAN></FONT></FONT> </DIV></FONT></SPAN><SPAN
class=689441113-25042003><FONT face=Arial size=3></FONT></SPAN></DIV><SPAN
class=689441113-25042003>
<DIV dir=ltr>
<DL>
<DD><FONT face=Arial><B><U>Thursday, September 30, 2004 -- ALUMNI
PROJECTS</U></B> </FONT></DD></DL></DIV>
<UL>
<LI><FONT face=Arial>Noon - 2pm -- <SPAN
class=689441113-25042003>OVERVIEW OF THE RETAIL INDUSTRY
</SPAN></FONT></LI></UL>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV><FONT face=Arial>Jake Boyer<SPAN class=689441113-25042003>, CRE
'99</SPAN> (Boyer Companies)</FONT></DIV>
<DIV><SPAN class=204292914-19072004><FONT face=Arial>Matt Smith<SPAN
class=689441113-25042003>, CRE '01</SPAN> (Smith
Brighton)</FONT></SPAN></DIV>
<DIV><SPAN class=204292914-19072004></SPAN><FONT face=Arial>Jay Timon<SPAN
class=689441113-25042003>, CRE '98</SPAN> (AIG Baker)
</FONT></DIV></BLOCKQUOTE>
<UL>
<LI><FONT face=Arial>5pm - 7pm -- REAL DEAL with Bill Browning<SPAN
class=689441113-25042003>, CRE '91,</SPAN> and Bob
Danziger</FONT></LI></UL>
<DIV><FONT face=Arial></FONT> </DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV><B><U><FONT face=Arial>Friday, October 1, 2004 -- ALUMNI
INSPIRATIONS</FONT></U></B></DIV></BLOCKQUOTE>
<UL>
<LI><FONT face=Arial>8am - 10am -- AACRE/NEWIRE Conference on the <SPAN
class=689441113-25042003>I</SPAN>mpact of the Big Dig on Land Prices </FONT>
<LI><FONT face=Arial>Noon - 1pm -- Alumni Luncheon <SPAN
class=689441113-25042003>-- </SPAN>Center<SPAN class=689441113-25042003>
for Real Estate</SPAN></FONT></LI></UL>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV><FONT face=Arial>Welcome from David<SPAN class=204292914-19072004> M.
Geltner, Director </SPAN></FONT></DIV>
<DIV><SPAN class=204292914-19072004></SPAN><FONT face=Arial><SPAN
class=204292914-19072004>Demonstration of </SPAN> the MIT Real Estate
Exchange (MITREX) </FONT></DIV></BLOCKQUOTE>
<UL dir=ltr>
<LI><FONT face=Arial>1:30 - 3:00 -- Stata Center Tour </FONT></LI></UL>
<UL>
<LI><FONT face=Arial>3:15 - 4:15 -- The State of the Center: Our Vision for
the Future </FONT></LI></UL>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV><FONT face=Arial>Brian Anthony "Tony" Ciochetti,<SPAN
class=689441113-25042003> Chairman and</SPAN> <SPAN
class=689441113-25042003>Thomas G. Eastman </SPAN>Chair<SPAN
class=689441113-25042003>holder</SPAN></FONT></DIV>
<DIV><FONT face=Arial>David M. Geltner, Director <SPAN
class=689441113-25042003>and George Macomber
Professor</SPAN></FONT></DIV></BLOCKQUOTE>
<UL>
<LI><FONT face=Arial>4:30 - 5:30 -- <SPAN class=204292914-19072004>CRE
2004 </SPAN>Thesis Webcast </FONT>
<LI><FONT face=Arial>6pm - 8pm -- Reception <SPAN
class=689441113-25042003>at the MIT Museum</SPAN></FONT></LI></UL>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV><SPAN class=689441113-25042003></SPAN><FONT face=Arial>Recognition<SPAN
class=689441113-25042003> of the Graduating </SPAN>Class of
2004</FONT></DIV>
<DIV><FONT face=Arial><SPAN class=689441113-25042003>A</SPAN>nnouncement of
the Spaulding Award Winner </FONT></DIV>
<DIV><FONT face=Arial></FONT> </DIV>
<DIV><FONT face=Arial></FONT> </DIV></BLOCKQUOTE>
<DL>
<DD><B><U><FONT face=Arial></FONT></U></B>
<DD><FONT face=Arial><B><U>Saturday, October 2, 2004 -- PASSING THE
TORCH</U></B> </FONT></DD></DL>
<UL>
<LI><FONT face=Arial>11am - 2pm -- Graduation and reception -- Stata Center
</FONT></LI></UL></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN>
<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><SPAN class=204292914-19072004><STRONG><FONT
face=Arial color=#0000ff>REMEMBER, SAVE MARCH 18 - 19, 2005 FOR MIT/CRE'S
20TH ANNIVERSARY BASH</FONT></STRONG></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><STRONG><FONT
face=Arial></FONT></STRONG></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><!--StartFragment --><FONT face=Arial size=3>In March,
the Center for Real Estate will be celebrating its 20th Anniversary. As
part of the 20th Anniversary, we will hold a NewVisions Gala for both alumni and
members to celebrate and recognize the hard work and success of the NewVisions
team. In addition, the Center will feature a conference on topics
that will serve to spotlight the Center's role as a thought leader in the real
estate industry. Finally, we hope to incorporate a special alumni
workshop that will discuss ways in which the Center and the alumni/ae community
can work together. Our 20th Anniversary promises to be a landmark and
celebratory year!</FONT></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><FONT
face=Arial size=3></FONT></SPAN></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><SPAN class=689441113-25042003>
<DIV><FONT face=Arial><SPAN class=689441113-25042003><FONT size=2><FONT
size=4><STRONG>MIT REAL ESTATE EXCHANGE (MITREX)
-- </STRONG></FONT></FONT></SPAN><SPAN class=689441113-25042003><EM><FONT
color=#0000ff> <A
href="http://cre-mitrex.mit.edu/index.html">http://cre-mitrex.mit.edu/index.html</A></FONT></EM></SPAN></FONT></DIV>
<DIV><SPAN class=689441113-25042003><EM><FONT face=Arial
color=#0000ff></FONT></EM></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT size=3><FONT size=2><FONT size=3><SPAN
class=204292914-19072004><FONT face=Arial><FONT color=#0000ff><STRONG><EM>New
Feature!</EM></STRONG></FONT> MITREX has always been a searchable data
base, but now you can search by firm as well! MITREX is not static.
Remember to send us your suggestions for
improvements.</FONT></SPAN></FONT></FONT></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT size=3><FONT size=2><FONT face=Arial
size=3><SPAN
class=204292914-19072004></SPAN></FONT></FONT></FONT></SPAN> </DIV>
<DIV><FONT face=Arial><SPAN class=689441113-25042003><FONT size=3><FONT
size=2><FONT size=4><SPAN
class=204292914-19072004><STRONG></STRONG></SPAN></FONT></FONT></FONT></SPAN><STRONG></STRONG></FONT> </DIV>
<DIV><SPAN class=689441113-25042003><STRONG><SPAN class=204292914-19072004><FONT
face=Arial>CLASS OF 2005 </FONT></SPAN></STRONG></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><STRONG><SPAN class=204292914-19072004><FONT
face=Arial></FONT></SPAN></STRONG></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=3>The Class of 2005
will be arriving in August, a week earlier than usual. Forty<SPAN
class=204292914-19072004> seven (47) pe</SPAN>ople were offered admission to the
CRE Class of 2005; 38 people accepted, a yield rate of 81%.<SPAN
style="mso-spacerun: yes"> </SPAN>The Class of 2005 includes seven
joint degree candidates, 15 women and 23 men, and nine international students.
Thirteen incoming students already hold advanced degrees—in architecture, urban
and regional planning, geography, medicine, structural engineering,
architecture, entrepreneurship, management and business administration.
There will be opportunities to find out more about the Class of 2005, stay
tuned!</FONT></SPAN></SPAN></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003>
<P><SPAN class=689441113-25042003><FONT
face=Arial></FONT></SPAN></P></SPAN></SPAN><SPAN class=689441113-25042003><FONT
size=2><SPAN class=689441113-25042003></SPAN></FONT></SPAN></DIV>
<DIV>
<DIV>
<DIV>
<DIV>
<DIV dir=ltr>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=2><SPAN
class=689441113-25042003></SPAN></FONT></SPAN> </DIV></SPAN></SPAN>
<DIV></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT
face=Arial><U><STRONG>Reminders and Notices</STRONG></U> </FONT></DIV></DIV>
<UL>
<LI><FONT face=Arial><STRONG>Class of 200<SPAN
class=689441113-25042003>4</SPAN> Resume Book</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><STRONG><FONT face=Arial>Alumni Projects (</FONT></STRONG><A
href="http://web.mit.edu/cre/alumni/index.html"><FONT
face=Arial>http://web.mit.edu/cre/alumni<SPAN
class=689441113-25042003>/index</SPAN>.html</FONT></A><SPAN
class=689441113-25042003></SPAN><FONT face=Arial><STRONG> </STRONG><SPAN
class=689441113-25042003><STRONG>and</STRONG> <A
href="http://web.mit.edu/cre/alumni/alumprojects.html and http://web.mit.edu/cre/alumni/index.html"
eudora="autourl">http://web.mit.edu/cre/alumni/alumprojects.html </A></SPAN><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></FONT></SPAN> </DIV>
<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><SPAN class=689441113-25042003><FONT
size=2></FONT></SPAN></SPAN></DIV><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><FONT size=2></FONT></SPAN></SPAN></DIV><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT
size=2></FONT></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><FONT
size=2><FONT face=Arial></FONT></FONT></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><FONT size=2>
<DIV dir=ltr><BR><FONT size=3><FONT face=Arial><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></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></SPAN></SPAN></DIV></DIV>
<DIV><FONT face=Arial></FONT> </DIV>
<DIV class=Section1>
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