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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><FONT face=Arial>The Alumni/ae
E-newsletter will be moving to quarterly production starting July 1st; the next
issue will be in late August/early September. 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><SPAN><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><FONT face=Arial color=#0000ff size=4><STRONG>The
Year in Review -- Support the Center for Real
Estate!<BR></STRONG></FONT></SPAN></SPAN></SPAN></DIV>
<LI>
<DIV align=center><SPAN><SPAN class=689441113-25042003><SPAN
class=689441113-25042003></SPAN></SPAN></SPAN><SPAN><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT face=Arial
size=4><STRONG>New Additions </STRONG></FONT></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT face=Arial
size=4><STRONG>to MITREX <BR></STRONG>(</FONT><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><A href="http://cre-mitrex.mit.edu/index.html"><FONT
face=Arial color=#000000
size=4>http://cre-mitrex.mit.edu/index.html</FONT></A><FONT face=Arial
size=4>):<BR></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><FONT color=#0000ff><SPAN
style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: 'Arial Black'; mso-bidi-font-family: 'Arial Black'; mso-fareast-font-family: Batang; mso-ansi-language: EN-US; mso-fareast-language: KO; mso-bidi-language: AR-SA"><FONT
face=Arial color=#0000ff><EM>Documents and Slides from the 1st Annual Housing
Affordability
Conference</EM></FONT></SPAN></FONT></SPAN></SPAN></SPAN></DIV></LI></UL>
<UL>
<LI>
<DIV align=center><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT
color=#0000ff><SPAN
style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: 'Arial Black'; mso-bidi-font-family: 'Arial Black'; mso-fareast-font-family: Batang; mso-ansi-language: EN-US; mso-fareast-language: KO; mso-bidi-language: AR-SA"></SPAN></FONT></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><FONT size=4><STRONG><FONT face=Arial>Housing
Affordability Initiative (</FONT></STRONG><A
href="http://web.mit.edu/cre/research/hai/index.html"><FONT
face=Arial>http://web.mit.edu/cre/research/hai/index.html</FONT></A><STRONG><FONT
face=Arial>)</FONT></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=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><STRONG><FONT face=Arial size=4>Commercial Real
Estate Data Laboratory, CREDL, Working Paper
</FONT></STRONG></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><FONT
size=4><STRONG></STRONG></FONT></SPAN></SPAN></SPAN></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></SPAN></SPAN></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><FONT face=Arial>MIT/CRE on the Move -- New York
Trip, Asia FIRE, ICSC, and Class Trip to
Europe</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><FONT face=Arial>Save
the Dates!</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><FONT face=Arial>
<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=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><STRONG><FONT face=Arial>2005 Professional
Development Courses (</FONT></STRONG><A
href="http://web.mit.edu/cre/conted/courses.html"><FONT
face=Arial>http://web.mit.edu/cre/conted/courses.html</FONT></A><STRONG><FONT
face=Arial>)</FONT></STRONG></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></DIV></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><FONT face=Arial>
<DIV
align=center></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN><FONT
face=Arial><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><STRONG>Reminders and Notices</STRONG> (<U>Alumni
Directory</U>, MITREX, Class of 2005 Resume Book, and Job Postings! <FONT
color=#0000ff>URL l</FONT></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><FONT color=#0000ff>inks are also in
MITREX</FONT>)</SPAN></DIV></DIV></LI></UL></SPAN><SPAN
class=689441113-25042003></SPAN></FONT><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>
<HR>
</STRONG></FONT></SPAN></DIV><SPAN class=689441113-25042003><FONT
size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT><FONT size=2></FONT><FONT size=2></FONT>
<DIV align=left><FONT size=2></FONT><FONT size=2></FONT><BR><SPAN
class=689441113-25042003></SPAN><STRONG><FONT face=Arial size=4>Support the
Center for Real Estate and Give<SPAN class=689441113-25042003> Before MIT's
Fiscal Year Ends June 30th</SPAN>!</FONT></STRONG></DIV>
<DIV align=left><STRONG></STRONG><FONT face=Arial size=4><A
href="http://web.mit.edu/cre/giving/index.html">http://web.mit.edu/cre/giving/index.html</A></FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<P align=center><FONT face=Arial color=#0000ff><SPAN
class=689441113-25042003><FONT size=2>* Successful Fundraising Campaign
* Alumni Reunion Weekend * FIRE in Washington, D.C. *
Participation in ULI's New York Conference</FONT> </SPAN></FONT></P>
<P align=center><FONT face=Arial color=#0000ff><SPAN
class=689441113-25042003><FONT size=2>* New Century Cities Symposium
* 20th Anniversary Weekend * Housing Affordability Conference *
FIRE in Germany * FIRE in China</FONT> </SPAN></FONT></P>
<P align=center><FONT face=Arial color=#0000ff><SPAN
class=689441113-25042003><FONT size=2>* MITREX launched (293 members!) *
Construction Management successfully integrated into MIT/CRE</FONT>
</SPAN></FONT></P>
<P align=center><FONT face=Arial color=#0000ff size=2><SPAN
class=689441113-25042003>* Three Research Initiatives Launched * PDC's
Expanded</SPAN></FONT></P>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial>Last year at this time, the
Center was in the midst of the NewVisions Campaign. We were engaged in a
joint venture to make the Center a world-class focal point for real estate
education, research, and information. The NewVisions Team worked
tirelessly and over half of you pledged your support. As a result, we
raised over $604,000 in three months! The energy, vision, and commitment
that have characterized the past year have been invigorating. As
you read this e-newsletter (as well as previous ones), I hope it will become
obvious that we are partners; and the Center relies on its graduates to
provide access to local markets, to be "ambassadors" representing the
Center in the real estate industry, <STRONG><EM>and</EM></STRONG> to
offer financial support.</FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><FONT face=Arial><SPAN class=689441113-25042003>Over the last year, we have
laid the foundation for great things. We have three active, relevant,
diverse research initiatives -- three more than we had a year ago. New
Century Cities has placed the Center for Real Estate at the fulcrum of
technology and development; while catalyzed by the local
economy, the question of affordability and the quality of life are in the center
of the radar screen for all cities, and the Housing Affordability
Initiative has made the Center a valued voice; and if you sell, buy, or manage
real estate, the transactions-based CREDL (Commercial Real Estate Data
Laboratory) Index will put you ahead of the appraisal curve. We are not
pursuing ivory tower research, we are actively engaged in relevant, timely,
rigorous research. Our meetings and conferences are designed to be
interactive, informative, and interesting. The New Century Cities (January
2005), Vision-Driven Cities (March 2005), and Housing Affordability (April
and May 2005) meetings certainly met all of these requirements.
</SPAN></FONT></DIV>
<DIV><FONT face=Arial><SPAN class=689441113-25042003></SPAN></FONT> </DIV>
<DIV><FONT face=Arial><SPAN class=689441113-25042003></SPAN><SPAN
class=689441113-25042003>And we are not staying in Cambridge to tell you about
the things that we are doing! Our Chairman, Tony Ciochetti, and Director,
David Geltner, have traveled to Germany, Santa Fe, Chicago, the United Kingdom,
New York, Asia, Washington, D.C., Salt Lake City, and elsewhere to reach
out to alums, members, and industry representatives. In each
location we have had a FIRE event and/or a smaller gathering. In
addition, we are making full use of technology to post videos, Power Points, and
papers on our web site and on MITREX so that they are as accessible as
possible.</SPAN></FONT></DIV>
<DIV><FONT face=Arial><SPAN class=689441113-25042003></SPAN></FONT> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial>The great thing about real
estate professionals is that they know how to "mix business with
pleasure." The Alumni Reunion Weekend celebrated our newest Spaulding
Award winner, <STRONG><FONT color=#0000ff>Randy Nichols</FONT></STRONG>, while
providing information about retail real estate, and offering you the opportunity
to catch up with old friends and meet some of our newest alums while enjoying
cocktails. The 20th Anniversary weekend started out with an invitation to
REfresh, REvisit, and REdiscover, offered insights into "Vision Driven
Developments", celebrated industry "Visioneers" Hank Spaulding, Gerald
Hines and the Hines company, and the Walt Disney Company, and concluded with an
alumni/ae brunch.</FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial>We are doing a great
deal. We have done a great deal. And we plan to do even more.
Help us continue to "build the future" by supporting the Center
financially. To make a gift, visit the following URL: </FONT><A
href="https://giving.mit.edu/givenow/GiftStart.dyn"><FONT
face=Arial>https://giving.mit.edu/givenow/GiftStart.dyn</FONT></A><FONT
face=Arial> or send your check to Marion Cunningham at the address
below:</FONT></SPAN></DIV>
<DIV><FONT face=Arial size=4><SPAN
class=689441113-25042003></SPAN></FONT> </DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV dir=ltr><SPAN class=689441113-25042003><FONT face=Arial size=4>Marion
O. Cunningham<BR><SPAN class=689441113-25042003>Managing
</SPAN> Director<BR>MIT/Center for Real Estate<BR>77 Massachusetts
Avenue<BR>W31-310<BR>Cambridge, MA 02139-4307<BR>Phone:
(617) 253-2680</FONT></SPAN><SPAN class=689441113-25042003><FONT
face=Arial size=4> </FONT></SPAN></DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><FONT face=Arial size=4><FONT
size=2></FONT> </DIV></FONT></SPAN></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE>
<DIV><SPAN class=689441113-25042003></SPAN><FONT face=Arial size=4><EM><FONT
size=3>T</FONT><SPAN class=689441113-25042003><FONT size=3>hank you in advance
for your support of the Center. Together we can do truly great
thing</FONT>s!</SPAN></EM><BR></DIV></FONT><FONT size=4></FONT></SPAN><SPAN
class=689441113-25042003><SPAN class=689441113-25042003>
<DIV><FONT face=Arial><STRONG><FONT size=4></FONT></STRONG><STRONG><FONT
size=4></FONT></STRONG><STRONG><FONT size=4></FONT></STRONG></FONT> </DIV>
<DIV align=center><STRONG><FONT face=Arial size=4></FONT></STRONG><STRONG><FONT
size=4></FONT></STRONG><STRONG><FONT size=4></FONT></STRONG><STRONG><FONT
size=4></FONT></STRONG>
<HR>
</SPAN><SPAN class=689441113-25042003><FONT
size=4><STRONG></STRONG></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial
size=4><STRONG></STRONG></FONT></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><STRONG><FONT face=Arial
size=4></FONT></STRONG></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><FONT size=4><STRONG><FONT
face=Arial>MIT/CRE Housing Affordability Initiative<BR></FONT></STRONG><A
href="http://web.mit.edu/cre/research/hai/index.html"><FONT
face=Arial>http://web.mit.edu/cre/research/hai/index.html</FONT></A><BR></FONT></SPAN><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><FONT color=#0000ff size=4><EM><FONT
size=4></FONT></EM></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><FONT color=#0000ff size=4><FONT size=4>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><FONT color=#0000ff size=4><FONT face=Arial
size=4><EM>1st Annual Housing Affordability Conference
</EM></FONT><STRONG><EM><FONT face=Arial>-- May 25,
2005<BR></FONT></EM></STRONG></FONT><U><FONT color=#0000ff size=4><A
href="http://web.mit.edu/cre/research/hai/index.html"><EM><FONT
face=Arial>http://web.mit.edu/cre/research/hai/index.html</FONT></EM></FONT></U></A></SPAN></SPAN></SPAN></DIV><SPAN
class=689441113-25042003>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><FONT
face=Arial color=#000000 size=2></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></FONT></o:p></SPAN></SPAN></SPAN><EM><FONT
face=Arial> </FONT></EM><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>
<P class=MsoNormal
style="MARGIN: 0in 0in 0pt; mso-layout-grid-align: none"><SPAN
style="COLOR: black; FONT-FAMILY: TimesNewRoman; mso-bidi-font-family: TimesNewRoman"><FONT
size=3>Anyone living within commuting distance of MIT—and these days that
can be quite a distance — knows the litany: “Policemen and firemen often
can't afford to live in the towns they serve,” said David Geltner, director
of MIT’s Center for Real Estate (MIT/CRE). “Anyone who has kids trying to
start out here knows how hard it is to afford a starter home. Bright
students graduating from this region's universities are leaving rather than
staying, because of the high cost of housing.” Prof. Geltner, opening the
May 25 research conference sponsored by MIT/CRE’s Housing Affordability
Initiative (HAI), ticked off the familiar list to underscore why MIT/CRE
researchers have developed a new way of tracking and evaluating the
availability of affordable housing in the <st1:City w:st="on"><st1:place
w:st="on">Boston</st1:place></st1:City> metro area.<SPAN
class=689441113-25042003> For more information on the HAI conference,
visit MITREX or the following URL: <A
href="http://web.mit.edu/cre/research/hai/conference.html">http://web.mit.edu/cre/research/hai/conference.html</A></SPAN></FONT></SPAN></P>
<P class=MsoNormal
style="MARGIN: 0in 0in 0pt; mso-layout-grid-align: none"><SPAN
style="COLOR: black; FONT-FAMILY: TimesNewRoman; mso-bidi-font-family: TimesNewRoman"><FONT
color=#000000 size=4><o:p></o:p></FONT></SPAN> </P><FONT
color=#000000></FONT></o:p></SPAN></SPAN></SPAN></DIV></BLOCKQUOTE></SPAN></SPAN></SPAN></FONT></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><FONT color=#0000ff size=4><EM><FONT face=Arial
size=4>Effects of Mixed-Income, Multi-Family Housing Developments on
Single-Family Housing Values</FONT></EM><STRONG><EM><FONT face=Arial> --
April 27, 2005<BR></FONT></EM></STRONG></FONT><U><FONT color=#0000ff
size=4><A href="http://web.mit.edu/cre/research/hai/index.html"><FONT
face=Arial>http://web.mit.edu/cre/research/hai/index.html</FONT></FONT></U></A></SPAN></SPAN></SPAN></DIV><SPAN
class=689441113-25042003>
<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></FONT></o:p></SPAN></SPAN></SPAN><FONT
face=Arial> </FONT><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=3>MIT/CRE researchers completed a painstaking study
of 7 affordable housing projects in 6 towns in suburban <st1:place
w:st="on"><st1:City w:st="on">Boston</st1:City></st1:place> and found that
these mixed-income, high-density rental developments—so-called 40B
developments—have no adverse effects on nearby property values. The projects
studied—two in Littleton and one each in Mansfield, Norwood, Randolph,
Wilmington, and Woburn—were deliberately chosen because they included
"suburbanites’ worst nightmares," some of the most dense and controversial
40B projects completed in Massachusetts between 1980 and 2000. If any
projects were going to have a negative effect on local property values, it
would be these. <SPAN class=689441113-25042003> For more on the 40B
report, visit MITREX or the following URL: <A
href="http://web.mit.edu/cre/research/hai/40b.html">http://web.mit.edu/cre/research/hai/40b.html</A></SPAN></FONT></FONT></DIV></BLOCKQUOTE></BLOCKQUOTE>
<DIV dir=ltr style="MARGIN-RIGHT: 0px"></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-bidi-font-family: 'Times New Roman'"><o:p></o:p></SPAN></FONT></FONT></o:p></SPAN></SPAN></SPAN><FONT
face=Arial> </FONT></SPAN></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003></DIV>
<DIV>
<DIV></SPAN><SPAN class=689441113-25042003><FONT face=Arial
size=4><STRONG>Commercial Real Estate Data Laboratory (CREDL) Working Paper
Presented at ARES Conference<BR></STRONG></FONT></SPAN><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><A href="http://cre-mitrex.mit.edu/index.html"><FONT
face=Arial
size=4>http://cre-mitrex.mit.edu/index.html</FONT></A></SPAN></SPAN></SPAN></DIV></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT face=Arial
size=2></FONT> </DIV>
<P><FONT face=Arial><!--StartFragment --><!--StartFragment --></FONT></P>
<P><FONT face=Arial></FONT><FONT size=2><SPAN class=689441113-25042003><!--StartFragment --></P>
<P class=O v:shape="_x0000_s1026"><FONT face=Arial><FONT size=3>CREDL is an
initiative of the MIT Center for Real Estate. The objective is to provide a
“space” (virtual and real) for the development, refinement, and dissemination of
quantitative measures of commercial property performance. This includes any
dimension of performance: investment<SPAN
class=689441113-25042003>,</SPAN> operational, economic, engineering,
environmenta<SPAN class=689441113-25042003>l. </SPAN>CREDL is meant to
provide a place to gather data, develop methodologies and tools, and provide a
forum for analysis and perspective.<SPAN class=689441113-25042003> At the
April meeting of the American Real Estate Society (ARES), Drs. David Geltner,
Henry Pollakowski, and Jeff Fisher presented a preliminary transaction-based
performance index for commercial properties.
</SPAN></FONT></FONT><SPAN class=689441113-25042003><FONT face=Arial
size=4><FONT size=3>This work promises to provide an important tool for
institutional investors. Get an early look</FONT>!</FONT></SPAN></P>
<DIV><FONT
face=Arial></FONT></SPAN></FONT></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><FONT size=2></FONT><FONT
size=2></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><FONT size=2></FONT></SPAN></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><FONT face=Arial size=4>
<P class=MsoNormal
style="MARGIN: 0in 0in 6pt; mso-layout-grid-align: none; mso-pagination: none"><STRONG>
<HR>
</STRONG></P>
<P class=MsoNormal
style="MARGIN: 0in 0in 6pt; mso-layout-grid-align: none; mso-pagination: none"><FONT
size=2></FONT> </P>
<P class=MsoNormal
style="MARGIN: 0in 0in 6pt; mso-layout-grid-align: none; mso-pagination: none"><FONT
size=2></FONT> </P></FONT></SPAN></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003>
<DIV class=MsoNormal
style="MARGIN: 0in 0in 6pt; mso-layout-grid-align: none; mso-pagination: none"><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><STRONG><FONT face=Arial
size=4>MIT/CRE on the MOVE </FONT></STRONG></SPAN></SPAN></DIV><SPAN
class=689441113-25042003><SPAN class=204292914-19072004>
<DIV><FONT face=Arial><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><FONT size=4></FONT></SPAN></SPAN><FONT
size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=204292914-19072004></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><FONT size=2></FONT></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><FONT
face=Arial>The last month has been a buzz of activity and our alums have been at
the heart of it! </FONT></SPAN></SPAN></DIV>
<UL>
<LI><SPAN class=689441113-25042003><SPAN class=204292914-19072004><FONT
face=Arial>The Class of 2005 had a phenomenal time in the Big Apple where they
met with a number of developers -- The Durst Organization, Hines, Forest City
Ratner to name a few -- joined MIT/CRE graduates at St. Barts Cafe (an event
organized by Rachel Matthai), and reconnoitered with alums
for drinks at McSorley's. </FONT></SPAN></SPAN></LI>
<LI><SPAN class=689441113-25042003><SPAN class=204292914-19072004><FONT
face=Arial>A few weeks later, Chairman Tony Ciochetti was well received when
he hit China in a big way. Alums Greg Peng (Merrill Lynch), Hong Wang
(Tsinghua University), and Qian Wang (Taurus) arranged for Chairman Ciochetti
to moderate a number of panel discussions on global trends in real
estate capital markets in Beijing and Shanghai.
</FONT></SPAN></SPAN></LI>
<LI><SPAN class=689441113-25042003><SPAN class=204292914-19072004><FONT
face=Arial>While Tony was en route to Cambridge, a group of alums were
attending the annual ICSC convention in Las Vegas. The ICSC is an
awe-inspiring networking event where the Center's
alums had their own "mini meeting". </FONT></SPAN></SPAN></LI>
<LI><SPAN class=689441113-25042003><SPAN class=204292914-19072004><FONT
face=Arial>This week the Class of 2005 is visiting a number of real
estate companies and projects in London and Cambridge, England and in Berlin
and Frankfurt, Germany. Following visits in the United Kingdom, the
class will travel to Germany where MIT/CRE alum Caroline Lange has
arranged a number of tours and executive meetings. The trip
will include presentations by project managers and executives from
companies such as Hines, Stanhope, the Argent Group, Jones Lang LaSalle,
and Tishman Speyer. In addition, while in London, the Royal Institute of
Chartered Surveyors is hosting a reception for the
group. </FONT></SPAN></SPAN></LI></UL>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><FONT
face=Arial></FONT></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><FONT
face=Arial></FONT></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004>
<DIV class=MsoNormal
style="MARGIN: 0in 0in 6pt; mso-layout-grid-align: none; mso-pagination: none"><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><FONT face=Arial
size=4><EM><STRONG>SAVE THE DATES! -- </STRONG>Stay tuned to our web site
for updates! </EM> <EM><BR><A
href="http://web.mit.edu/cre">http://web.mit.edu/cre</A></EM></FONT></SPAN></SPAN></DIV><SPAN
class=689441113-25042003><SPAN class=204292914-19072004>
<DIV><FONT face=Arial><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><FONT size=4></FONT></SPAN></SPAN><FONT
size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT><FONT size=2></FONT></FONT><FONT size=2></FONT><FONT
size=2></FONT> </DIV>
<DIV><FONT size=2></FONT><FONT size=2></FONT></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=204292914-19072004></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><FONT
size=2></FONT></SPAN></SPAN> </DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><SPAN class=204292914-19072004><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><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><FONT
size=4><STRONG>ALUMNI/AE REUNION WEEKEND<BR></STRONG><FONT
color=#0000ff>September 29, 2005 - October 2,
2005</FONT></FONT></SPAN></SPAN></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><SPAN class=204292914-19072004><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
color=#0000ff size=4><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><STRONG></STRONG></SPAN></SPAN></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN> </DIV>
<DIV dir=ltr><SPAN class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><FONT face=Arial
size=2></FONT> </DIV>
<DIV dir=ltr><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><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><FONT size=4><STRONG>CRE
FIRE -- Munich, Germany<BR></STRONG></FONT></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><FONT size=4><FONT
color=#0000ff>October 14, 2005<BR>2:30pm - 5:00pm<BR><A
title=http://web.mit.edu/cre/events/events/cre-fire.html
href="http://web.mit.edu/cre/events/events/cre-fire.html">http://web.mit.edu/cre/events/events/cre-fire.html</A></FONT><EM><BR></EM></FONT></SPAN></SPAN></FONT></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=204292914-19072004><FONT size=+0><SPAN
class=689441113-25042003><SPAN class=204292914-19072004></DIV><FONT face=Arial
color=#0000ff size=4>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<P class=MsoNormal dir=ltr style="MARGIN: 0in 0in 0pt"><SPAN
style="FONT-SIZE: 14pt"><FONT color=#000000><FONT
face="Times New Roman"><STRONG>Participants:<o:p></o:p></STRONG></FONT></FONT></SPAN></P>
<P class=MsoNormal dir=ltr style="MARGIN: 0in 0in 0pt"><U><SPAN
style="FONT-SIZE: 14pt"><o:p><SPAN style="TEXT-DECORATION: none"><FONT
face="Times New Roman" color=#000000></FONT></SPAN></o:p></SPAN></U></P>
<P class=MsoNormal dir=ltr
style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in; tab-stops: list .5in; mso-list: l0 level1 lfo1"><FONT
face="Times New Roman"><SPAN style="FONT-SIZE: 14pt"><SPAN
style="mso-list: Ignore"><FONT
color=#000000></FONT></SPAN></SPAN></FONT> </P>
<P class=MsoNormal dir=ltr
style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in; tab-stops: list .5in; mso-list: l0 level1 lfo1"><FONT
face="Times New Roman"><SPAN style="FONT-SIZE: 14pt"><SPAN
style="mso-list: Ignore"><FONT color=#000000>1.<SPAN
style="FONT: 7pt 'Times New Roman'">
</SPAN></FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 14pt"><FONT
color=#000000>Tony Ciochetti; <st1:place w:st="on"><st1:PlaceName
w:st="on">MIT</st1:PlaceName> <st1:PlaceName w:st="on">Real</st1:PlaceName>
<st1:PlaceName w:st="on">Estate</st1:PlaceName> <st1:PlaceType
w:st="on">Center</st1:PlaceType></st1:place><o:p></o:p></FONT></SPAN></FONT></P>
<P class=MsoNormal dir=ltr
style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in; tab-stops: list .5in; mso-list: l0 level1 lfo1"><FONT
face="Times New Roman"><SPAN style="FONT-SIZE: 14pt"><SPAN
style="mso-list: Ignore"><FONT color=#000000>2.<SPAN
style="FONT: 7pt 'Times New Roman'">
</SPAN></FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 14pt"><FONT
color=#000000>Operator Perspective on US REITs
<o:p></o:p></FONT></SPAN></FONT></P>
<P class=MsoNormal dir=ltr
style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in; tab-stops: list .5in; mso-list: l0 level1 lfo1"><FONT
face="Times New Roman"><SPAN style="FONT-SIZE: 14pt"><SPAN
style="mso-list: Ignore"><FONT color=#000000>3.<SPAN
style="FONT: 7pt 'Times New Roman'">
</SPAN></FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 14pt"><FONT
color=#000000>Schulte; <st1:place w:st="on"><st1:PlaceName
w:st="on">European</st1:PlaceName> <st1:PlaceName
w:st="on">Business</st1:PlaceName> <st1:PlaceType
w:st="on">School</st1:PlaceType></st1:place><o:p></o:p></FONT></SPAN></FONT></P>
<P class=MsoNormal dir=ltr
style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in; tab-stops: list .5in; mso-list: l0 level1 lfo1"><FONT
face="Times New Roman"><SPAN lang=DE
style="FONT-SIZE: 14pt; mso-ansi-language: DE"><SPAN
style="mso-list: Ignore"><FONT color=#000000>4.<SPAN
style="FONT: 7pt 'Times New Roman'">
</SPAN></FONT></SPAN></SPAN><SPAN lang=DE
style="FONT-SIZE: 14pt; mso-ansi-language: DE"><FONT color=#000000>Dr. Hans
Volckens; Beiten Burkhardt Rechtsanwaltsges
m.b.H<o:p></o:p></FONT></SPAN></FONT></P>
<P class=MsoNormal dir=ltr
style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in; tab-stops: list .5in; mso-list: l0 level1 lfo1"><FONT
face="Times New Roman"><SPAN style="FONT-SIZE: 14pt"><SPAN
style="mso-list: Ignore"><FONT color=#000000>5.<SPAN
style="FONT: 7pt 'Times New Roman'">
</SPAN></FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 14pt"><FONT
color=#000000>International Lender Perspective on
REITs<o:p></o:p></FONT></SPAN></FONT></P>
<P class=MsoNormal dir=ltr
style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in; tab-stops: list .5in; mso-list: l0 level1 lfo1"><FONT
face="Times New Roman"><SPAN style="FONT-SIZE: 14pt"><SPAN
style="mso-list: Ignore"><FONT color=#000000>6.<SPAN
style="FONT: 7pt 'Times New Roman'">
</SPAN></FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 14pt"><FONT
color=#000000>HypoVereinsbank Representative – National Lender
Perspective<o:p></o:p></FONT></SPAN></FONT></P>
<P class=MsoNormal dir=ltr
style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in; tab-stops: list .5in; mso-list: l0 level1 lfo1"><FONT
face="Times New Roman"><SPAN style="FONT-SIZE: 14pt"><SPAN
style="mso-list: Ignore"><FONT color=#000000>7.<SPAN
style="FONT: 7pt 'Times New Roman'">
</SPAN></FONT></SPAN></SPAN><SPAN style="FONT-SIZE: 14pt"><FONT
color=#000000>Dr. Herbert Grebenc – Head of BMW Real Estate
</FONT></SPAN></FONT></P></BLOCKQUOTE>
<P class=MsoNormal dir=ltr
style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in; tab-stops: list .5in; mso-list: l0 level1 lfo1"><FONT
face="Times New Roman"><SPAN style="FONT-SIZE: 14pt"><FONT
color=#000000></FONT></SPAN></FONT> </P>
<P class=MsoNormal dir=ltr
style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in; tab-stops: list .5in; mso-list: l0 level1 lfo1"><FONT
face="Times New Roman"><SPAN style="FONT-SIZE: 14pt"><FONT color=#000000><FONT
face=Arial size=2></FONT> </P>
<DIV dir=ltr style="MARGIN-RIGHT: 0px"><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><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><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><FONT size=4><STRONG>MIT/CRE OPEN
HOUSE<BR></STRONG><FONT color=#0000ff>October 24, 2005<BR>6:00pm - 8:00pm<BR><A
href="http://web.mit.edu/cre/events/events/openhouse05.html">http://web.mit.edu/cre/events/events/openhouse05.html</A><BR></FONT></FONT></SPAN></SPAN></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></DIV>
<DIV dir=ltr style="MARGIN-RIGHT: 0px"><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><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><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><FONT size=4><FONT color=#0000ff><FONT color=#000000
size=2></FONT> </DIV></FONT></FONT></SPAN></SPAN></FONT></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=204292914-19072004><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><FONT face=Arial><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><FONT size=4><FONT
color=#0000ff></FONT></FONT></SPAN></SPAN></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></FONT></SPAN></FONT></FONT></SPAN></SPAN></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></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><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 size=+0><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><FONT face=Arial
color=#0000ff size=4><FONT face="Times New Roman"><SPAN
style="FONT-SIZE: 14pt"><FONT color=#000000><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><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><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><FONT size=4><FONT
color=#0000ff></FONT></FONT></SPAN></SPAN></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></FONT></SPAN></FONT></FONT></SPAN></SPAN></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><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 size=+0><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><FONT face=Arial color=#0000ff size=4><FONT
face="Times New Roman"><SPAN style="FONT-SIZE: 14pt"><FONT color=#000000><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><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><SPAN
class=689441113-25042003><SPAN class=204292914-19072004><FONT size=4><FONT
color=#0000ff>
<DIV dir=ltr style="MARGIN-RIGHT: 0px">
<HR>
</DIV></FONT></FONT></SPAN></SPAN></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></FONT></SPAN></FONT></FONT></SPAN></SPAN></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><FONT
face=Arial><FONT size=4></FONT></SPAN></SPAN> </DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004><FONT
face=Arial></FONT></SPAN></SPAN> </DIV></FONT></SPAN></SPAN></SPAN>
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class=689441113-25042003><SPAN class=204292914-19072004><SPAN
class=689441113-25042003><FONT size=4><FONT face=Arial><STRONG>Professional
Development Courses<BR></STRONG><FONT color=#008000><FONT color=#000000><A
href="http://web.mit.edu/cre/conted/courses.html">http://web.mit.edu/cre/conted/courses.html</A></FONT></FONT></FONT></FONT></SPAN><SPAN
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<DIV><SPAN class=689441113-25042003><FONT face=Arial>The Center for Real Estate
will be offering eight courses as a part of its summer Professional
Development program. While the course list includes such stalwarts as
"Real Estate Markets" and "Fundamentals of Real Estate Finance," there are a
number of new courses as well. "Topics in Real Estate Development" will
focus on four topics that are being discussed by virtually every developer --
building for the life sciences, technology and development,
sustainable or "green" development, and brownfields. In addition, as
an offshoot of the work being done by the Center in housing, we are offering a
course that looks at the differences and similarities between the issues
of housing affordability and affordable housing. The summer promises
to be an exciting time to return to the Center and retool or in the "words" of
the 20th Anniversary -- REfresh, REvisit, and REdiscover. <STRONG><U>And
remember, members of the AACRE receive a 50% discount on courses so make sure
your membership is up-to-date. </U></STRONG></FONT></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><FONT face=Arial></FONT></SPAN> </DIV>
<DIV><STRONG><FONT face=Arial size=4></FONT></STRONG> </DIV>
<DIV><FONT face=Arial
size=2></FONT></SPAN></SPAN></FONT></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><FONT face=Arial><FONT size=2></FONT><FONT
size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT></FONT> </DIV></DIV></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=204292914-19072004>
<DIV align=left><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT size=4><FONT
face=Arial><STRONG>Slide Show of Alumni & Alumni
Projects <BR><FONT color=#0000ff>(See Also Side Bar,</FONT></STRONG><FONT
color=#0000ff> </FONT></FONT></FONT><A
href="http://web.mit.edu/cre/alumni/index.html"><FONT face=Arial color=#0000ff
size=4>http://web.mit.edu/cre/alumni/index.html</FONT></A><FONT face=Arial
color=#0000ff size=4><STRONG>)</STRONG></FONT></SPAN></SPAN></SPAN><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><FONT face=Arial color=#0000ff
size=4><STRONG><BR></DIV></STRONG></FONT></SPAN></SPAN></SPAN><FONT
face=Arial>One of the most popular MITREX downloads was the Gala Slide Show that
was prepared by Marylynn Gentry ('88). In fact, the slide show was so
impressive, we decided to make it available for the general public. Visit
the alumni web page and take a
look!</FONT></SPAN></SPAN></SPAN></SPAN></SPAN></DIV>
<DIV><SPAN class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=204292914-19072004><STRONG><FONT face=Arial size=4><FONT
size=4></FONT></STRONG> </DIV>
<DIV><FONT size=2></FONT><FONT size=2></FONT><FONT face=Arial
size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV></FONT>
<DIV></SPAN></SPAN></SPAN></SPAN><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><SPAN
class=689441113-25042003><SPAN class=689441113-25042003><FONT size=4><FONT
face=Arial><U><STRONG>Reminders and Notices</STRONG></U> </FONT></FONT></DIV>
<UL>
<LI><SPAN class=689441113-25042003><!--StartFragment --><FONT
face=Arial><STRONG>Support the Center for Real Estate</STRONG> (</FONT><A
href="http://web.mit.edu/cre/giving/index.html"><FONT
face=Arial>http://web.mit.edu/cre/giving/index.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><!--StartFragment --><A
href="https://alum.mit.edu/smarTrans/user/PayDues.dyn?groupID=189"><FONT
face=Arial>https://alum.mit.edu/smarTrans/user/PayDues.dyn?groupID=189</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 (</FONT><A
href="http://web.mit.edu/cre/alumni/index.html) and download the membership form"><FONT
face=Arial>http://web.mit.edu/cre/alumni/index.html) and download the
membership form</FONT></A><FONT face=Arial><U>.</U><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 now has 293 members and 288 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> (with contact
information) 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 (<A
href="http://web.mit.edu/cre/alumni/update.html">http://web.mit.edu/cre/alumni/update.html</A></STRONG><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 size=4><FONT face=Arial><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><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><FONT size=2></FONT><FONT size=2></FONT><FONT size=2></FONT><FONT
size=2></FONT><BR><FONT size=4><FONT face=Arial><EM>Marion O.
Cunningham<BR></EM><SPAN class=689441113-25042003>Managing
</SPAN> 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>CRE: 20 Years of Building the
Future</I></FONT></SPAN></DIV></SPAN></SPAN></SPAN></DIV>
<DIV><FONT face=Arial size=4></FONT> </DIV>
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