[Crealums] MIT/CRE E-NEWSLETTER -- February 2006

Tue Feb 28 09:03:34 EST 2006

MITCenter for Real Estate

Interdisciplinary   o    Innovative    o    Industry Relevant   o
International

Greetings!

This has been a busy month for the MIT Center for Real Estate.  Two of the
Center's research initiatives released major results, the Alumni/ae
Association co-sponsored a successful symposium, and we’ve been featured in
the Wall Street Journal and the Boston Globe.   Not bad for the second month
of the year!

This newsletter covers the following topics:

*	

	Commercial Real Estate Data Laboratory (CREDL): 
New MIT index  <http://web.mit.edu/cre/news/060216-tbi.html> measures
returns in commercial real estate

*	

	Housing Affordability Initiative (HAI):  
Boston Area Housing  <http://web.mit.edu/cre/news/060131-land-use.html>
Approaches An Acre Per Home

*	

	AACRE-NEWIRE Symposium
How Much  <http://web.mit.edu/cre/news/060216-hmm.html> More? Risk and
Return in Real Estate Development Ventures

*	

	Seeking Thesis Topics
*	

	Upcoming Events
*	

	Alumni/ae Networking
*	

	Jobs <http://web.mit.edu/cre/jobs/jobthree.html>  (Select new
additions highlighted)
*	

	MITREX <http://cre-mitrex.mit.edu/mitrex/> 
*	

	Reminders and Notices

  _____  

Commercial Real Estate Data Laboratory (CREDL):  
New MIT index measures  <http://web.mit.edu/cre/news/060216-tbi.html>
returns in commercial real estate (2/2006)

CRE’s Commercial Real Estate Data Laboratory (CREDL) has made its first
major release:  a Transactions-Based Index (TBI) of Institutional Commercial
Property Investment Performance.  The TBI is an important tool for more
accurately comparing real estate investment performance against other
investments like stocks and bonds.  Using econometrics and statistical
methods, CREDL researchers were able to create an index based on actual
transactions (unlike appraisal-based measurements), the first of its kind
for commercial real estate.  

The first results, released on February 22, 2006, showed a 34% return on
investment in commercial real estate during 2005.  To read more about the
CREDL project click  <http://web.mit.edu/cre/research/credl/tbi.html> here.

Housing Affordability Initiative (HAI):  
Boston Area Housing  <http://web.mit.edu/cre/news/060131-land-use.html>
Approaches An Acre Per Home (1/2006)

New single-family home construction in the greater Boston metropolitan area
is consuming about twice as much land as existing single-family housing, and
half of the region’s new single-family homes were built on lots of nearly an
acre or larger.  These results are based on research conducted under the
auspices of the Center's Housing Affordability Initiative and the
Massachusetts Housing Partnership (MHP).  

            For more information on the Housing Affordability Initiative and
the Initiative's recent findings, please visit
<http://web.mit.edu/cre/research/hai/index.html>
http://web.mit.edu/cre/research/hai/index.html.

February 16th AACRE-NEWIRE Symposium
How Much More? Risk and  <http://web.mit.edu/cre/news/060216-hmm.html>
Return in Real Estate Development Ventures

        On February 16, 2006, a symposium co-produced by the Alumni
Association of MIT’s Center for Real Estate (AACRE) and the New England
Women in Real Estate (NEWIRE) sought to answer the question, "What is a fair
rate of return?"  Analysts generally agree that developing real estate is
far riskier than simply purchasing real estate as stabilized, fully-leased
assets. A speculative industry by nature, real estate development must offer
higher returns to compensate for the inherently higher risk, but how much
higher?  Read  <http://web.mit.edu/cre/news/060216-hmm.html> more.

  _____  

Seeking  <http://web.mit.edu/cre/membership/pdf/CRE%20Members-Thesis.pdf>
Thesis Topics

Our students are beginning to consider topics for thesis research during the
coming summer and we’re interested in your proposals for thesis topics.  

The master’s thesis is typically 60-100 pages in length, a tightly focused
piece of research which must be completed in only three months.  Theses can
use corporate data, but should involve issues of general interest to the
industry.  Past theses have included academic topics, pedagogical topics,
case studies, and feasibility analyses.

            Topic proposals should be about a page in length, and contain a
clear question or problem, proposed methodology, and an estimate of the
support you can provide for the student.  Proposals need to be received by
early March in order to be reviewed and considered by the faculty for this
year’s students.  Please send your proposals to Maria Vieira, Associate
Director of Education, mvieira at mit.edu, or fax to: 617-258-6991.

Alumni/ae Networking

Alumni/ae  <http://amps-tools.mit.edu/cre-alumniblog/> Weblog

In order to allow our alumni/ae to connect with one another, announce
events, seek career advice, and share business opportunities, CRE has
created an Alumni/ae Weblog (http://amps-tools.mit.edu/cre-alumniblog/).  On
the weblog, you can find events and information geared to alumni/ae and see
what your fellow alumni/ae are doing.  Post your own news and comments, or
send us your feedback or ideas for the weblog, by emailing Karen MacArthur
at macarthr at mit.edu.

Calling all Europe-based Alumni/ae

Do you work with or have an interest in European Real Estate?  A network of
Europe-based alumni/ae has formed, and their goal is to develop and expand
the real estate network.  If you are interested in joining the MIT/CRE
European network, e-mail Nick Spencer (CRE '03) with your contact details.
Nick can be reached at  <mailto:nspencer at credogroup.com>
nspencer at credogroup.com.  

Jobs

The CRE provides job listings and resources for those looking for jobs.
Recent listings include:

·         <http://web.mit.edu/cre/jobs/jobthree.html> Senior Production
Analyst, CB Richard Ellis; Boston, MA

·        Real Estate Manager, Construction Project Manager, Project Design
Architect, Internships (Summer 2006);
<http://web.mit.edu/cre/jobs/index.html#corp> Target, Minneapolis, MN

·       Chief Operating  <http://web.mit.edu/cre/jobs/jobthree.html#redc>
Officer, Forest City Commercial Group; Cambridge, MA

·        Manager, Corporate Real
<http://web.mit.edu/cre/jobs/index.html#corp> Estate, Marriott
International, Washington, D.C.

Please visit http://web.mit.edu/cre/jobs/index.html to view the most recent
listings.  Send your job listings (with contact information) to Marion
Cunningham at marionoc at mit.edu.

Upcoming Events <http://web.mit.edu/cre/events/index.html> 

·       PRESENTATION -- Westwood Development Group -- March 8, 2006 @7pm --
Presentation Location:
<http://whereis.mit.edu/map-jpg?selection=26&Buildings=go> 26-152

·
<http://events.mit.edu/scripts/event_ext.pl?event=5222385&location=http://we
b.mit.edu/cre/events/calendar/&groupid=1244> REAL DEAL --   AEW Capital
Management --  March 22, 2006 @6:30pm -- Center for Real Estate

Professional Development Courses start in June!  NEW Classes in Advanced
Real Estate Development, Entrepreneurship, and Brownfields will be offered!

  _____  

MITREX Updates

The MIT Real Estate Exchange,  <http://cre-mitrex.mit.edu/mitrex/> MITREX is
a searchable database available to all alumni/ae, students, staff and
faculty of the CRE, and Industry Partners.  We’re constantly posting new
information to MITREX, including the following recent updates:

*	What's a Fair Return in Real Estate Development 

*	Japanese Market Information for January 2006 

*	Jones Lang LaSalle -- Company Overview 

If you haven’t already signed up to access MITREX, please do so at
http://cre-mitrex.mit.edu/index.html.

  _____  

Reminders and Notices 

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

*	The 2006 Version of the CRE Alumni Directory is available.   To
request an electronic copy of the CRE Alumni Directory, e-mail
<mailto:mit-cre at mit.edu> mit-cre 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/ae 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  <http://web.mit.edu/cre/alumni/index.html> CRE alumni web site  and
download the
<http://web.mit.edu/cre/alumni/pdf/AACRE%202005%20Membership%20Form.pdf>
membership form.  

*	MIT Real Estate Excha <http://cre-mitrex.mit.edu/mitrex/> nge,
MITREX ( <http://cre-mitrex.mit.edu/index.html>
http://cre-mitrex.mit.edu/index.html).  Currently, MITREX has 352 members
and 337 items. Sign up today, 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).   Take a look, our students and
graduates are impressive! 

*	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 (with contact information) 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/update.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 >
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 and/or alumni/ae blog.   

Best regards,

Marion Cunningham

Managing  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:  Our Graduates Build the Future

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