[Crealums] MIT/CRE E-NEWSLETTER --March 2005

Fri Mar 25 15:07:20 EST 2005

MITCenter for Real Estate

Elite  o    Visionary    o    Relevant

Greetings!

Included in this edition of the MIT/CRE Alumni/ae E-newsletter are the
following items:

*	

	MIT/CRE 20th Anniversary a Success, The following Power Points have
been added to 
MITREX (http://cre-mitrex.mit.edu/index.html)
*	

	User Break Out Notes
*	

	Financing Break Out Notes
*	

	Torto / Wheaton Power Point
*	

	New Songdo City Presentation
*	

	University Park Presentation
*	

	Bill Mitchell Presentation
*	

	The Digital Challenge Presentation
*	

	Emerging Trends in Project Development Presentation
*	

	Leadership in Real Estate Presentation
*	

	New Technologies that Will Change Real Estate Presentation
*	

	Gala Power Point of Alumni & Alumni Projects

*	

	Privately vs Publicly Held Investment Performance, Real Estate
Economics article
*	

	Quoting Taka -- MIT/CRE Alum in the News

*	

	MIT/CRE Research -- NCC, Thesis
*	

	Save the Dates (New York Trip!)
*	

	Reminders and Notices (Alumni Directory, MITREX, Class of 2005
Resume Book, and Job Postings!
(links also in MITREX)

New Visions: The 20th Anniversary Celebration 
MIT/CRE 20th Anniversary -- March 18 - 20, 2005
 <http://web.mit.edu/cre/events/events/20thanniversary.html>
http://web.mit.edu/cre/events/events/20thanniversary.html
http://cre-mitrex.mit.edu/index.html

The Center for Real Estate's 20th Anniversary was memorable, informative,
and fun.   Back to the Future was a great success with alums from the
classes of 1985 through 2004 connecting and re-connecting.  Following
luncheon words of wisdom by Larry Bacow, Dennis Frenchman and Gloria Schuck
started out the education portion of the afternoon by talking about,
respectively, technologies that will change real estate and leadership.
Both Dennis and Gloria's presentations are posted on MITREX.  Following
Dennis and Gloria were Tod McGrath discussing fair returns on development
and Jim Becker and Chris Gordon on the impact of technology on the building
industry.  Jim and Chris's presentations are also posted on MITREX, and Tod
promises to post his presentation personally.   Ray Torto and Bill Wheaton
(who was a real trooper, presenting despite pneumonia and a cracked rib!)
outlined the 10 questions facing the real estate industry.  The first thing
you will probably notice about their presentation is that they could not
agree on the 10 questions, so 11 are listed.  Click and Clack (Ray Torto and
Bill Wheaton)  and Building for Tomorrow's Developments Today were video
taped so keep an eye out for the video as well.

On Saturday, attention turned to Vision Driven Cities.  We looked at large
scale, mixed-use developments in the United Kingdom (Canary Wharf), Korea
(New Songdo City), and in the United States (University Park).  Each project
represented a point in time and a different vision and catalyst for
development. Following these case studies, Bill Mitchell presented the case
for digital technology's ability to add to the value of a development
project.  The New Songdo, University Park, and Mitchell presentations are on
MITREX.     In addition, the entire morning was taped so the video should be
available soon.

The afternoon was devoted to giving those in attendance an opportunity to
synthesize, evaluate, and ponder what they had heard.  Notes for these
sessions were taken by current students.    The four break out groups were
-- the User, Financing Considerations (risk and return), Partnering and
Partnerships, and Non Traditional Dimensions of Value.  Currently, notes for
the USERS and the FINANCING break out groups are posted.  Notes will be
added as they are prepared. 

Saturday concluded with a gala at the Park Plaza Hotel and Tower where we
presented Visioneer Awards to Hank Spaulding, The Walt Disney Company,
Hines, and Hines Founder and Founding Member, Gerald D. Hines.  Visioneers
are described as follows: 

... They are visionaries. They are pioneers. And in quintessential MIT
tradition they are engineers. 

Their vision is far-reaching, seeing beyond the horizons of ordinary
imaginations. They may often be called dreamers, but never day-dreamers.
Their philosophies are practical and their persistence legendary. 

They are pioneers. The future that they envision exists only in their
imaginations until they make it a reality. But they persevere, despite the
obstacles and setbacks, through the long years of planning and persuasion.

Finally, they are engineers, in the broadest sense of that word: they build
their dreams. And in doing so, they change the course of life for countless
numbers of people, for communities, and for the organizations that are
created and imbued with their indelible spirit.

The Gala was a fitting tribute to individuals and companies that have
changed the face of real estate. 

Alums near and far answered the call for project photos and as we dined,
danced, and mingled,  those projects, along with pictures of many of you
from years long gone, were projected throughout the evening.  The Power
Point is also posted on the MITREX.

Closing out the weekend was the Alumni/ae Brunch, a casual, relaxed
opportunity for people to say their final good byes.  

Pictures from the weekend will be posted to the web soon.

PJ Yeatman and Mark Moriarty's Real Estate Economics Article on  MITREX
 <http://cre-mitrex.mit.edu/index.html> http://cre-mitrex.mit.edu/index.html

"Privately Versus Publicly Held Investment Performance" -- Published in Real
Estate Economics, March 2005.   Classic asset pricing is problematic as a
method to assess privately held asset investment performance.   Yeatman,
Moriarty, and Riddiough proposed an alternative approach that involves
adjusting the characteristics of assets constituting an index or portfolio
to match the asset characteristics of a reference index or portfolio. 

Takayuki Kiura (CRE '00)
http://web.mit.edu/cre/alumni/newsprojects.html#news

Takayuki Kiura, Class of 2000, is now head and managing director of Heitman
Japan.  Posted on the web site are recent articles in the Wall Street
Journal and New York Times that quote Taka. 

MIT/CRE Research

New Century Cities  (http://web.mit.edu/cre/research/ncc/index.html) -- The
site includes case studies for each of the NCC projects, presentations from
the  "Show Me Yours" technology showcase, and some of the Power Point slides
that were used as part of the panel discussions.    
Thesis Research (
<http://web.mit.edu/cre/membership/pdf/CRE%20Members-Thesis.pdf>
http://web.mit.edu/cre/membership/pdf/CRE%20Members-Thesis.pdf) --  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.

SAVE THE DATES!

The MIT/CRE Class of 2005 is Coming to New York City 
April 28 & 29, 2005
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
<mailto:rmatthai at alum.mit.edu> rmatthai at alum.mit.edu.

CRE FIRE -- San Francisco.  
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!

April 2005 -- CRE FIRE -- Asia.   
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.

May 25, 2005 -- MIT/CRE'S Housing Affordability Conference. 
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.

2005 PROFESSIONAL DEVELOPMENT COURSES
The 2005 PDC schedule should be available by April 1, 2005.  Stay tuned to
the web page --  <http://web.mit.edu/cre/conted/index.html>
http://web.mit.edu/cre/conted/index.html

Reminders and Notices 

*	Support the Center for Real Estate (
<http://web.mit.edu/giving/priorities/schools/architecture/cre.html>
http://web.mit.edu/giving/priorities/schools/architecture/cre.html).   The
need for funding to support the "new vision" of the Center is ongoing.
Please continue your support! 

*	Center for Real Estate Alumni Directory.  The 2005 Directory has
been completed!  To request an electronic copy of the CRE Alumni Directory,
e-mail Marion Cunningham at  <mailto:marionoc at mit.edu> marionoc at mit.edu. 

*	Join the Alumni Association of the CRE, AACRE (
<https://alum.mit.edu/smarTrans/user/PayDues.dyn?groupID=189>
https://alum.mit.edu/smarTrans/user/PayDues.dyn?groupID=189). 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).  If you would prefer to complete your membership by mail, go
to the CRE alumni web site ( <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.  
*	MIT Real Estate Exchange, MITREX (
<http://cre-mitrex.mit.edu/index.html>
http://cre-mitrex.mit.edu/index.html).  MITREX  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. Currently, MITREX has
256 members and 253 items that have been contributed. This promises to be an
invaluable tool.   

*	MIT/CRE Resume Book ( <http://web.mit.edu/cre/resumehome.html>
http://web.mit.edu/cre/resumehome.html).  The Class of 2005 resume book has
joined the Class of 2004 resume book on line.  Take a look, our students and
graduates are impressive! 

*	Note New URL!! Job Listings (
<http://web.mit.edu/cre/jobs/index.html>
http://web.mit.edu/cre/jobs/index.html).  Have a job you want to fill or
seeking a new opportunity?  We have the right person and the right job!
Send your job listings to  <mailto:marionoc at mit.edu> marionoc at mit.edu and
they will be posted.  

*	Update Your Alumni Contact Information (
<http://web.mit.edu/cre/alumni/alumupdate.html>
http://web.mit.edu/cre/alumni/alumupdate.html).  We want to stay in touch
and keep you informed.  To help us do so, please use this URL to update your
contact information.  

*	Alumni Network Services ( <http://alum.mit.edu/index.html>
http://alum.mit.edu/index.html).  Visit the MIT Alumni Association's web
site to find addresses and contact information for classmates.  

*	Alumni Projects ( <http://web.mit.edu/cre/alumni/index.html>
http://web.mit.edu/cre/alumni/index.html and
<http://web.mit.edu/cre/alumni/alumprojects.html and
http://web.mit.edu/cre/alumni/index.html>
http://web.mit.edu/cre/alumni/alumprojects.html ).  Send me (
<mailto:marionoc at mit.edu> marionoc at mit.edu) notices of your projects,
publications, promotions, and noteworthy events for posting on the MIT/CRE
web site.   

Best regards,

Marion O. Cunningham
Associate Director
MIT/Center for Real Estate
77 Massachusetts Avenue
W31-310
Cambridge, MA   02139-4307
Phone:  (617) 253-2680
Fax:       (617) 258-6991
 <http://web.mit.edu/cre/> http://web.mit.edu/cre/

CRE:  20 Years of Building the Future

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