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<DIV><FONT face=Arial size=4><IMG alt="MITCenter for Real Estate" hspace=0
src="cid:689441113@25042003-14ee" align=baseline border=0></FONT></DIV>
<DIV><FONT face=Arial size=4></FONT> </DIV>
<DIV align=center><SPAN class=689441113-25042003><EM><STRONG><FONT face=Arial
size=4>Elite o Visionary
o Relevant</FONT></STRONG></EM></SPAN></DIV>
<DIV align=center><SPAN class=689441113-25042003><STRONG><EM><FONT face=Arial
size=4></FONT></EM></STRONG></SPAN> </DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT face=Arial
size=4></FONT></SPAN> </DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT face=Arial
size=4></FONT></SPAN></DIV>
<DIV align=left><SPAN class=689441113-25042003><STRONG><EM><FONT face=Arial
size=4>Greetings!</FONT></EM></STRONG></SPAN></DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT face=Arial
size=4></FONT></SPAN> </DIV>
<DIV align=left><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN style="FONT-FAMILY: 'Times New Roman'"><FONT
face=Arial size=4><SPAN
class=204292914-19072004></SPAN></FONT></SPAN></SPAN></SPAN> </DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT face=Arial size=4>Included
in this edition of the MIT/CRE Alumni/ae E-newsletter are the following
items:</FONT></SPAN></DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT face=Arial
size=4></FONT></SPAN> </DIV>
<UL>
<LI>
<DIV align=center><STRONG><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT face=Arial
size=4>CRE 20th Anniversary Program Update, March 18 - 20,
2005</FONT></SPAN></SPAN></SPAN></STRONG></DIV>
<LI>
<DIV align=center><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT face=Arial
size=4><STRONG>20th Anniversary</STRONG> <FONT color=#0000ff><EM>Request for
Alumni/ae Project Photos</EM></FONT></FONT></SPAN></SPAN></SPAN></DIV>
<LI>
<DIV align=center><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT face=Arial><FONT
size=4><STRONG>Bill Wheaton Discusses "</STRONG><EM>Housing
Bubbles</EM><STRONG>" on
MITREX</STRONG></FONT></FONT></SPAN></SPAN></SPAN></DIV>
<LI>
<DIV align=center><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT face=Arial
size=4><STRONG>Carr Capital (</STRONG>Oliver Carr, '92, and Clint Fisch,
'02<STRONG>) IPO</STRONG></FONT></SPAN></SPAN></SPAN></DIV>
<LI>
<DIV align=center><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT face=Arial
size=4><STRONG>MIT/CRE Research (</STRONG>Thesis Ideas,
NCC<STRONG>)</STRONG></FONT></SPAN></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><FONT face=Arial
size=4> </FONT></SPAN></SPAN></SPAN></DIV></LI></UL>
<DIV align=center><FONT face=Arial size=2></FONT> </DIV>
<UL>
<LI>
<DIV align=center><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><FONT face=Arial
size=4><STRONG>Save the Dates (</STRONG>Heather Smith Memorial Fellowship, New
York
Trip!<STRONG>)</STRONG></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></DIV>
<LI>
<DIV align=center><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></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=204292914-19072004></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=689441113-25042003></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT face=Arial><FONT
size=4><STRONG>Reminders and Notices</STRONG> (<U>Alumni Directory</U>,
MITREX, Class of 2005 Resume Book, and Job
Postings!)</FONT></FONT></SPAN></DIV></LI></UL></SPAN><SPAN
class=689441113-25042003></SPAN><SPAN class=689441113-25042003>
<DIV align=left><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN style="FONT-FAMILY: 'Times New Roman'"><FONT
face=Arial size=4><SPAN
class=204292914-19072004></SPAN></FONT></SPAN></SPAN></SPAN> </DIV></SPAN>
<DIV align=left><SPAN class=689441113-25042003><FONT face=Arial
size=4><STRONG></STRONG></FONT></SPAN> </DIV>
<DIV align=left><SPAN class=689441113-25042003><FONT face=Arial
size=2></FONT><FONT face=Arial size=2></FONT><FONT face=Arial
size=2></FONT><FONT face=Arial size=2></FONT><FONT face=Arial
size=2></FONT><FONT face=Arial size=2></FONT><FONT face=Arial
size=2></FONT><FONT face=Arial size=2></FONT><FONT face=Arial
size=2></FONT><BR><BR><FONT face=Arial size=4></FONT></SPAN><SPAN
class=689441113-25042003></DIV><SPAN class=689441113-25042003>
<DIV></SPAN><SPAN class=689441113-25042003><FONT face=Arial size=4><STRONG>New
Visions: The 20th Anniversary Celebration -- Program
Update<BR></STRONG></FONT></SPAN><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT face=Arial
color=#0000ff size=4><EM><STRONG>MIT/CRE 20th Anniversary -- March 18 - 20,
2005<BR></STRONG></EM></FONT><A
href="http://web.mit.edu/cre/events/events/20thanniversary.html"><FONT
face=Arial
size=4>http://web.mit.edu/cre/events/events/20thanniversary.html</FONT></A><BR></SPAN></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003>
<DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><FONT
face=Arial size=4></FONT></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 10pt; COLOR: white; FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><o:p><FONT
color=#000000
size=4><STRONG> </STRONG></FONT></o:p></SPAN></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 10pt; COLOR: white; FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></SPAN></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 10pt; COLOR: white; FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><o:p><FONT
color=#000000><FONT size=4>The Center for Real Estate's 20th Anniversary
begins with a trip back to the future to "REfresh, REvisit,
REdiscover". Along for the trip are some familiar faces such as
Center co-founder, Larry Bacow, former Building Tech professor, Jim Becker, and
MIT's own Fric and Frac, Bill Wheaton and Ray Torto. Once back to the
present, newly minted MIT President, Dr. Susan Hockfield, will welcome you the
to Center's conference on "Vision Driven Cities".
</FONT></FONT></o:p></SPAN></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 10pt; COLOR: white; FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><o:p><FONT
color=#000000><FONT size=4></FONT></FONT></o:p></SPAN></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 10pt; COLOR: white; FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><o:p><FONT
color=#000000><FONT size=4><SPAN style="mso-font-width: 100%">Vision-Driven
Cities will examine the ways in which emerging technology allows an urban area
to be created specifically to fulfill a need or vision: a financial district, a
creative community, a logistics hub. At the conference, the successes and
lessons of pioneering work being done in 3 focal cities--New Songdo City outside
Seoul, Korea; Canary Wharf in London; and what has been termed the "Republic of
MIT" in Cambridge, Massachusetts--will be examined and extrapolated to future
developments. <o:p></o:p></SPAN>T<SPAN style="mso-font-width: 100%">he
keynote speaker at the conference is Dr. Phillip Sharp, Nobel Laureate,
Institute Professor, and Director of the McGovern Institute for Brain Research.
Dr. Sharp is also a founder of Biogen (now Biogen Idec)</SPAN><SPAN
style="mso-font-width: 100%">. </SPAN><SPAN
style="mso-font-width: 100%">Capping the conference events, the Center will
present its first set of "Visioneering" awards to Hank Spaulding, CRE's
co-founder and pioneering genius; the Walt Disney Company; and Gerald
Hines. The excitement is palpable. I hope you will be a part
of it.</SPAN></FONT></FONT></o:p></SPAN></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 10pt; COLOR: white; FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><o:p><FONT
color=#000000><FONT face=Arial size=4><SPAN
style="mso-font-width: 100%"></SPAN></FONT></FONT></o:p></SPAN></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 10pt; COLOR: white; FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><o:p><FONT
color=#000000><SPAN style="mso-font-width: 100%"><FONT size=4>A complete agenda
for the 20th Anniversary events can be found at </FONT><A
href="http://web.mit.edu/cre"><FONT
size=4>http://web.mit.edu/cre</FONT></A><FONT size=4>.
(<STRONG><EM>Note</EM></STRONG> <EM>The preferential hotel rate at the Hotel
@MIT, the University Park Hotel, has been reduced from $159 to $139 until
March 2, 2005!</EM>)</FONT></SPAN></FONT></o:p></SPAN></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 10pt; COLOR: white; FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><o:p><FONT
color=#000000><FONT face=Arial size=4><SPAN
style="mso-font-width: 100%"></SPAN></FONT></FONT></o:p></SPAN></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 10pt; COLOR: white; FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><o:p><FONT
color=#000000><FONT face=Arial><FONT size=4><SPAN
style="mso-font-width: 100%"></SPAN><SPAN
style="mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></SPAN></FONT></FONT></FONT></o:p></SPAN></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 10pt; COLOR: white; FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><o:p><FONT
color=#000000><FONT face=Arial><FONT size=4><SPAN
style="mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></SPAN></FONT></FONT></FONT></o:p></SPAN></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 10pt; COLOR: white; FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><o:p><FONT
color=#000000><FONT face=Arial size=4><SPAN
style="mso-bidi-font-family: 'Times New Roman'"><o:p></o:p></SPAN></FONT></FONT></o:p></SPAN></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 10pt; COLOR: white; FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><o:p><FONT
color=#000000><SPAN style="mso-bidi-font-family: 'Times New Roman'"><o:p><SPAN
class=689441113-25042003><STRONG><FONT size=4>New Visions: The 20th Anniversary
Celebration -- Project Request<BR><FONT color=#0000ff>Wanted by March 4, 2005
!</FONT></FONT></STRONG></SPAN></o:p></SPAN></FONT></o:p></SPAN></SPAN></SPAN></DIV>
<DIV></SPAN></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><SPAN style="FONT-FAMILY: 'CG Times'"><o:p><FONT
face=Arial size=4> </FONT></o:p></SPAN></DIV></DIV></DIV></SPAN></SPAN>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004>
<DIV><SPAN class=689441113-25042003><STRONG><FONT face=Arial
size=4></FONT></STRONG></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003>
<DIV><FONT face=Arial><FONT size=4>Mary<SPAN class=689441113-25042003>lynn
Gentry (CRE '88) is</SPAN> putting together a slide show for the Gala that
will showcase alumni projects. If you have that <U>one</U>, special
picture, (preferably a jpeg), that you would like to share, feel free to email
it to<SPAN class=689441113-25042003> her at </SPAN></FONT></FONT><A
href="mailto:gentryriley@comcast.net"><FONT face=Arial
size=4>gentryriley@comcast.net</FONT></A><FONT face=Arial size=4> <SPAN
class=689441113-25042003>. Make sure you get the information to her by
</SPAN>March 4th!</FONT></DIV>
<DIV><STRONG><FONT face=Arial size=4></FONT></STRONG> </DIV>
<DIV><STRONG><FONT face=Arial size=4></FONT></STRONG> </DIV>
<DIV><STRONG><FONT face=Arial size=4></FONT></STRONG> </DIV>
<DIV></SPAN><SPAN class=689441113-25042003><STRONG><FONT face=Arial size=4>Bill
Wheaton's "Housing Bubbles" Presentation on
MITREX<BR></FONT></STRONG></SPAN><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><FONT face=Arial size=4><SPAN
class=689441113-25042003><A
href="http://cre-mitrex.mit.edu/index.html">http://cre-mitrex.mit.edu/index.html</A></SPAN></FONT></SPAN></SPAN></DIV></DIV>
<DIV>
<DIV><FONT face=Arial size=4></FONT><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><FONT face=Arial size=2></FONT> </DIV>
<DIV>
<P><FONT face=Arial><FONT size=4>What is a Real Estate “Bubble”? •Definition
A:repeated ups and downs in prices with the appearance of some predictability,
but with no implication as to cause.–Up and down economic shocks to the Housing
market?–Inherent cyclic dynamic by the market to shocks? •Definition B: a run up
in prices specifically caused by unsustainable beliefs on the part of market
participants. –How to assess? Certainly not with aggregate data.–CSW/FISERV
recent buyer survey. <SPAN class=689441113-25042003>To learn more about
"bubbles" log on to
MITREX!</SPAN></FONT></FONT></P></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><STRONG></STRONG></DIV></DIV></DIV>
<DIV>
<P class=MsoNormal
style="MARGIN: 0in 0in 6pt; mso-layout-grid-align: none; mso-pagination: none"><STRONG><FONT
face=Arial size=4></FONT></STRONG><STRONG></STRONG> </P>
<P class=MsoNormal
style="MARGIN: 0in 0in 6pt; mso-layout-grid-align: none; mso-pagination: none"><STRONG></STRONG><STRONG></STRONG><STRONG></STRONG><STRONG></STRONG><STRONG></STRONG><STRONG></STRONG><STRONG></STRONG><STRONG></STRONG><STRONG></STRONG></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><STRONG></STRONG></SPAN></SPAN></SPAN> </P>
<P class=MsoNormal
style="MARGIN: 0in 0in 6pt; mso-layout-grid-align: none; mso-pagination: none"><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><FONT face=Arial><FONT size=4><STRONG>Oliver Carr (CRE
'92) and Clint Fisch (CRE '92) File REIT IPO<BR></STRONG><FONT
color=#008000><FONT color=#000000><A
href="http://web.mit.edu/cre/alumni/newsprojects.html#news">http://web.mit.edu/cre/alumni/newsprojects.html#news</A></FONT></FONT></FONT></FONT></SPAN><SPAN
class=689441113-25042003><SPAN class=204292914-19072004></P></DIV>
<DIV>
<DIV><SPAN class=689441113-25042003>
<DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: 'Courier New'"><FONT face=Arial><FONT
size=4></FONT></FONT></SPAN></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: 'Courier New'"><FONT face=Arial
size=4></FONT></SPAN></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: 'Courier New'"><FONT face=Arial><FONT
size=4>A just-filed REIT IPO -- Columbia Equity Trust (COE) -- will be headed by
Oliver T. Carr, III, whose father is Oliver T. Carr, Jr. Founded in 1994,
Carr Capital, the predecessor to COE, intends to focus on small-to-medium size
commercial office properties in the Greater Washington, D.C. area. For
more information about the transaction, visit Alumni News on the Center's web
site.</FONT></FONT></SPAN></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=689441113-25042003></DIV><SPAN
style="FONT-SIZE: 10pt; COLOR: white; FONT-FAMILY: Arial; mso-bidi-font-family: 'Times New Roman'"><FONT
color=#000000><SPAN class=689441113-25042003><SPAN
style="FONT-SIZE: 12pt; FONT-FAMILY: Times; mso-bidi-font-family: 'Times New Roman'; mso-bidi-font-size: 10.0pt; mso-fareast-font-family: Times; mso-ansi-language: EN-US; mso-fareast-language: KO; mso-bidi-language: AR-SA">
<DIV><STRONG><FONT face=Arial size=4></FONT></STRONG> </DIV>
<DIV><STRONG><FONT face=Arial size=4></FONT></STRONG> </DIV>
<DIV><STRONG><FONT face=Arial size=4></FONT></STRONG> </DIV>
<DIV><STRONG><FONT face=Arial size=4></FONT></STRONG> </DIV>
<P class=MsoNormal
style="MARGIN: 0in 0in 6pt; mso-layout-grid-align: none; mso-pagination: none"><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><FONT face=Arial><FONT size=4><STRONG>MIT/CRE
Research<BR></STRONG><FONT color=#008000><FONT
color=#000000></FONT></FONT></FONT></FONT></SPAN></SPAN></SPAN></P>
<UL>
<LI>
<DIV class=MsoNormal
style="MARGIN: 0in 0in 6pt; mso-layout-grid-align: none; mso-pagination: none"><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><FONT face=Arial><FONT color=#000000>New Century
Cities <SPAN class=016205219-03012005> (<A
title=http://web.mit.edu/cre/research/ncc/index.html
href="http://web.mit.edu/cre/research/ncc/index.html">http://web.mit.edu/cre/research/ncc/index.html</A>)</SPAN> --
The site includes case studies for each of the NCC projects<SPAN
class=016205219-03012005>, presentations from the </SPAN> "Show Me
Yours" technology showcase, and some of the Power Point slides that were used
as part of the panel discussions.
</FONT></FONT></SPAN></SPAN></SPAN></DIV></LI>
<LI>
<DIV class=MsoNormal
style="MARGIN: 0in 0in 6pt; mso-layout-grid-align: none; mso-pagination: none"><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><FONT face=Arial>Thesis Research (<A
href="http://web.mit.edu/cre/membership/pdf/CRE%20Members-Thesis.pdf">http://web.mit.edu/cre/membership/pdf/CRE%20Members-Thesis.pdf</A>)
-- <!--StartFragment --> If you would like to sponsor a student thesis or
have an idea for a research-related initiative that is relevant to
your firm, take a look at the requirements for a good thesis and give Tony
Ciochetti, the Center's new Chairman, a call at
617-253-4373.</FONT></SPAN></SPAN></SPAN></DIV></LI></UL>
<DIV class=MsoNormal
style="MARGIN: 0in 0in 6pt; mso-layout-grid-align: none; mso-pagination: none"><STRONG><FONT
face=Arial size=4></FONT></STRONG><STRONG><FONT face=Arial
size=4></FONT></STRONG><STRONG><FONT face=Arial
size=4></FONT></STRONG><STRONG><FONT face=Arial
size=4></FONT></STRONG><STRONG><FONT face=Arial
size=4></FONT></STRONG></SPAN></SPAN></FONT></SPAN><STRONG><FONT face=Arial
size=4></FONT></STRONG></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN lang=EN-GB
style="mso-ansi-language: EN-GB"><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><STRONG><FONT face=Arial
size=4></FONT></STRONG></SPAN></SPAN> </DIV></DIV></DIV></DIV>
<DIV>
<DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><STRONG><FONT
face=Arial size=4></FONT></STRONG></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><STRONG><FONT
face=Arial size=4>ALUMNI CALL FOR
HELP!</FONT></STRONG></SPAN></SPAN></DIV></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003>
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<DIV class=cite type="cite"><FONT color=#000080><FONT face=Arial
size=4>Greg <SPAN class=689441113-25042003>Derby is lo</SPAN>oking to see
if someone has a good multi-family (apartment) development pro forma in Excel
that they are willing to share. If you have the information, e-mail Greg
at </FONT><A href="mailto:gderby@concordeastridge.com"><FONT face=Arial
size=4>gderby@concordeastridge.com</FONT></A><FONT face=Arial
size=4>.<BR></FONT></FONT><BR><FONT
color=#000080><BR></FONT></DIV></SPAN></SPAN></SPAN></SPAN>
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<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><STRONG><FONT
face=Arial size=4>SAVE THE DATES!</FONT></STRONG></SPAN></SPAN></DIV>
<DIV><FONT face=Arial><FONT size=4><SPAN class=689441113-25042003><SPAN
class=204292914-19072004></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=204292914-19072004></SPAN></SPAN></FONT></FONT> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><FONT
face=Arial size=4></FONT></SPAN></SPAN><FONT face=Arial size=2></FONT><FONT
face=Arial size=2></FONT><FONT face=Arial size=2></FONT><FONT face=Arial
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<DIV><SPAN class=689441113-25042003><STRONG><FONT face=Arial><FONT
size=4>Heather Smith Memorial Fellowship Award Ceremony<BR><FONT
color=#0000ff>February 28, 2005 -- Finale Park Plaza; Boston, MA -- 6pm to
8pm</FONT></FONT></FONT></STRONG></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial color=#0000ff
size=4></FONT></SPAN> </DIV><SPAN class=689441113-25042003><SPAN
class=204292914-19072004>
<DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT face=Arial
size=4>The Heather Smith Memorial Fund was founded shortly after her death as
result of the September 11, 2001 tragedy. Funded by the
contributins of family, friends, and colleagues, over $200,000 was
raised. In honor of Heather's legacy, an annual fellowship is
presented to a female graduate student at the MIT Center for Real Estate.
The presentation of the 2005 Heather Smith Memorial Fellowship will take place
on Monday, February 28, 2005 from 6:00pm until 8:00pm at Finale Park Plaza (One
Columbus Avenue; Boston, MA). Tax deductible donations can be made at the
door or in advance by contacting Michael Jammen (CRE '97) at </FONT><A
href="mailto:mjammen@comcast.net"><FONT face=Arial
size=4>mjammen@comcast.net</FONT></A><FONT face=Arial size=4>.</FONT></DIV>
<P><FONT face=Arial><STRONG><FONT size=4></FONT></STRONG></FONT> </P>
<P><FONT face=Arial><STRONG><FONT size=4>The MIT<SPAN
class=689441113-25042003>/CRE Cla</SPAN>ss of 2005</FONT><SPAN
class=689441113-25042003><FONT size=4> Comes to New York City -- Twice!<BR><FONT
color=#0000ff>March 10, 2005 and April 28/29,
2005</FONT></FONT></SPAN></STRONG></FONT></P>
<UL>
<LI><SPAN class=689441113-25042003><FONT face=Arial size=4>March 10, 2005 --
Real estate students from the Center for Real Estate, Sloan, HBS, and the
GSD will hit New York City on Thursday, March 10th and will mark their arrival
with a social mixer. If you would like to lend your support, contact
Vadim Goland at </FONT><A href="mailto:vadim@sloan.mit.edu"><FONT face=Arial
size=4>vadim@sloan.mit.edu</FONT></A></SPAN></LI>
<LI><SPAN class=689441113-25042003>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=4>April 28 -29, 2005
-- The Center for Real Estate will be conducting its annual visit to New
York's investment banks. The event has traditionally been characterized
by a reception the evening of Thursday, April 28th and a breakfast panel
discussion hosted by the New York chapter of the Alumni Association of the
Center for Real Estate the following Friday (April 29th). For more
information about the plans, contact Rachel Matthai at </FONT><A
href="mailto:rmatthai@alum.mit.edu"><FONT face=Arial
size=4>rmatthai@alum.mit.edu</FONT></A><FONT face=Arial
size=4>.</FONT></SPAN></DIV></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></LI></UL></DIV>
<DIV><STRONG><FONT face=Arial size=4></FONT></STRONG> </DIV>
<DIV><STRONG><FONT face=Arial size=4>CRE FIRE -- San
Francisco</FONT></STRONG></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><FONT face=Arial><FONT size=4><EM>.</EM>
Co-sponsored with member firm, AMB Property Corporation, we look forward to a
San Francisco forum on the impact of technology on the demand for commercial
real estate. Keep an eye on the Center's web site for further
details!</FONT></FONT></SPAN></SPAN></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><FONT
face=Arial size=4><SPAN class=689441113-25042003><SPAN
class=204292914-19072004></SPAN></SPAN></FONT></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><FONT face=Arial><FONT
size=4><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><STRONG>April 2005 -- CRE
FIRE -- Asia</STRONG></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN
class=204292914-19072004><EM>.</EM> <EM> </EM> Co-sponsored with
Merrill Lynch, we are planning a FIRE event in April in Beijing. We
are very excited about this engagement and will update you as the details
are
confirmed.</SPAN></SPAN></FONT></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></DIV></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><FONT
face=Arial size=4></FONT></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><FONT face=Arial><FONT
size=4><STRONG>May 2005 -- MIT/CRE'S Housing Affordability
Conference</STRONG>.<STRONG> </STRONG>In May, the Center for Real
Estate is sponsoring a conference on housing affordability in the Boston
metropolitan area. The conference will spotlight the findings of work
currently underway by Professor Lynn Fisher and Research Associate Dr. Henry
Pollakowski. The Housing Affordability Initiative is being supported by
the major housing organizations in the Boston area and the conference promises
to be highly informative.</FONT></FONT></SPAN></SPAN></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><FONT
face=Arial size=4></FONT></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial size=4><SPAN
class=689441113-25042003><SPAN
class=204292914-19072004></SPAN></SPAN></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=204292914-19072004>
<DIV><FONT face=Arial size=2></FONT><FONT face=Arial size=2></FONT><FONT
face=Arial size=2></FONT><FONT face=Arial size=2></FONT><FONT face=Arial
size=2></FONT><FONT face=Arial size=2></FONT><FONT face=Arial
size=2></FONT><BR><FONT color=#000080></FONT><FONT face=Arial
size=4> </FONT></DIV></DIV></SPAN></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><STRONG></STRONG></SPAN></SPAN></SPAN></SPAN><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></SPAN></SPAN>
<DIV></SPAN></SPAN>
<DIV dir=ltr></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT face=Arial><FONT
size=4><U><STRONG>Reminders and Notices</STRONG></U> </FONT></FONT></DIV>
<UL>
<LI><SPAN class=689441113-25042003><!--StartFragment --><STRONG><FONT
face=Arial>Support the Center for Real Estate (</FONT></STRONG><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
color=#000000>http://web.mit.edu/giving/priorities/schools/architecture/cre.html</FONT></A><FONT
face=Arial><STRONG>). </STRONG> The need for funding to support the
"new vision" of the Center is ongoing. Please continue your
support!</FONT></SPAN><FONT face=Arial> </FONT>
<LI><SPAN class=689441113-25042003><FONT face=Arial><FONT
color=#ff0000><EM><STRONG>Center for Real Estate <U>Alumni
Directory</U></STRONG>. The 2005 Directory has been
completed</EM></FONT>! To request an electronic copy of the CRE
<U>Alumni Directory</U>, e-mail Marion Cunningham at </FONT><A
href="mailto:marionoc@mit.edu"><FONT face=Arial
color=#000000>marionoc@mit.edu</FONT></A><FONT face=Arial>.</FONT></SPAN><FONT
face=Arial> </FONT>
<LI><SPAN class=689441113-25042003><STRONG><FONT face=Arial>Join the Alumni
Association of the CRE, AACRE (</FONT></STRONG><A
href="https://alum.mit.edu/smarTrans/user/PayDues.dyn?groupID=189"><FONT
face=Arial
color=#000000>https://alum.mit.edu/smarTrans/user/PayDues.dyn?</FONT></A><FONT
face=Arial><STRONG>)</STRONG>. Thanks to joining the larger MIT Alumni
Association, CRE Alumni can pay their dues on line. Log in using your
Infinite Connection login. 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 (7/1 to 6/30).<SPAN
style="mso-spacerun: yes"> </SPAN>If you would prefer to complete your
membership by mail, go to the CRE alumni web site (<A
href="http://web.mit.edu/cre/alumni/index.html) and download the membership form">http://web.mit.edu/cre/alumni/index.html)
and download the membership form</A>.<SPAN
style="mso-spacerun: yes"> </SPAN></FONT></SPAN><FONT face=Arial> </FONT>
<LI><SPAN class=689441113-25042003></SPAN><SPAN
class=689441113-25042003><STRONG><FONT face=Arial>MIT Real Estate Exchange,
MITREX (</FONT></STRONG><A
href="http://cre-mitrex.mit.edu/index.html"><FONT face=Arial
color=#000000>http://cre-mitrex.mit.edu/index.html</FONT></A><FONT
face=Arial><STRONG>). MITREX</STRONG> is a searchable
database that can be used to find documents of specific interest
and alumni/ae and members with expertise or interests in specific
areas.</FONT></SPAN><FONT face=Arial> <SPAN
class=689441113-25042003>Currently, MITREX has 244 members and 234 items that
have been contributed. </SPAN><SPAN class=689441113-25042003>This promises to
be an invaluable tool. </SPAN> </FONT>
<LI><FONT face=Arial><STRONG><SPAN
class=689441113-25042003>MIT/CRE </SPAN>Resume Book</STRONG> (</FONT><A
href="http://web.mit.edu/cre/resumehome.html"><FONT face=Arial
color=#000000>http://web.mit.edu/cre/resumehome.html</FONT></A><FONT
face=Arial>). <SPAN class=689441113-25042003>T</SPAN>he <SPAN
class=689441113-25042003>Class of 2005 resume book has joined the
</SPAN>Class of 200<SPAN class=689441113-25042003>4</SPAN> resume book on
line. <SPAN class=689441113-25042003>Take a look, o</SPAN><SPAN
class=689441113-25042003>ur students and graduates are impressive</SPAN><SPAN
class=689441113-25042003>!</SPAN> </FONT>
<LI><STRONG><FONT color=#ff0000><FONT face=Arial><SPAN
class=689441113-25042003><EM>Note New URL!! </EM></SPAN>Job Listings
(</FONT></FONT></STRONG><A href="http://web.mit.edu/cre/jobs/index.html"><FONT
face=Arial color=#ff0000>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"><FONT
color=#000000>marionoc@mit.edu</FONT></A></SPAN> and <SPAN
class=689441113-25042003>they</SPAN> will<SPAN class=689441113-25042003>
be</SPAN> post<SPAN class=689441113-25042003>ed</SPAN><SPAN
class=689441113-25042003>. </SPAN></FONT><SPAN class=689441113-25042003>
<LI><SPAN class=689441113-25042003></SPAN><SPAN class=689441113-25042003><FONT
face=Arial><STRONG>Update Your </STRONG><STRONG>Alumni Contact Information
(</STRONG></FONT><A href="http://web.mit.edu/cre/alumni/alumupdate.html"><FONT
face=Arial
color=#000000>http://web.mit.edu/cre/alumni/alumupdate.html</FONT></A><FONT
face=Arial><STRONG>).</STRONG> We want to stay in touch and keep you
informed. To help us do so, please use this URL to update your contact
information. </FONT></SPAN>
<LI><SPAN class=689441113-25042003></SPAN><SPAN class=689441113-25042003><FONT
face=Arial><STRONG>Alumni Network Services
</STRONG><STRONG>(</STRONG></FONT><A
href="http://alum.mit.edu/index.html"><FONT face=Arial
color=#000000>http://alum.mit.edu/index.html</FONT></A><STRONG><FONT
face=Arial>).</FONT></STRONG></SPAN><FONT face=Arial> <SPAN
class=689441113-25042003><STRONG> </STRONG>Visit the MIT Alumni Association's
web site to find addresses and contact information for classmates.
</SPAN></FONT></SPAN>
<LI><STRONG><FONT face=Arial>Alumni Projects (</FONT></STRONG><A
href="http://web.mit.edu/cre/alumni/index.html"><FONT face=Arial
color=#000000>http://web.mit.edu/cre/alumni<SPAN
class=689441113-25042003>/index</SPAN>.html</FONT></A><SPAN
class=689441113-25042003></SPAN><FONT face=Arial><FONT size=4><FONT
size=3><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"><FONT
color=#000000>http://web.mit.edu/cre/alumni/alumprojects.html </FONT></A></SPAN><STRONG>).</STRONG>
Send <SPAN class=689441113-25042003>me (<A
href="mailto:marionoc@mit.edu"><FONT
color=#000000>marionoc@mit.edu</FONT></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>.</FONT> <SPAN
class=689441113-25042003> </SPAN> </FONT></FONT></LI></UL></SPAN></SPAN>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT face=Arial
size=4></FONT></SPAN> </DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT face=Arial size=4>Best
regards,</FONT></SPAN></DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT face=Arial
size=4></FONT></SPAN> </DIV><SPAN
class=689441113-25042003></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=689441113-25042003></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=689441113-25042003></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><FONT
face=Arial size=4></FONT></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003>
<DIV dir=ltr><BR><FONT face=Arial><FONT size=4><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 color=#000000
size=4>http://web.mit.edu/cre/</FONT></A><BR><BR><FONT face=Arial
size=4><I><STRONG>CRE: 20 Years of Building the
Future</STRONG></I></FONT></SPAN></DIV></SPAN></SPAN></SPAN></DIV>
<DIV><FONT face=Arial size=4></FONT> </DIV>
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