Howard and Irene Levine

February 22, 2011

UCLA Anderson Announces Gift for Creation of Endowed Chair in Real Estate, Finance and Economic Policy

Gift will create an endowed fund to support research and teaching

LOS ANGELES -- Howard Levine, a leader in the Southern California housing industry, and his wife Irene, have pledged a gift of $3 million to the UCLA Anderson School of Management, which will be used to establish the Howard and Irene Levine Chair in Real Estate, Finance and Economic Policy in their honor.

The gift will create an endowed fund for ongoing support of research and teaching activities for a distinguished faculty member. Reflecting the Levines' keen interest in business ethics, the gift will also be used by UCLA Anderson's Richard S. Ziman Center for Real Estate to host the Howard Levine Lecture on Business Ethics, an annual event.

"Howard attributes his success in real estate to his studies at UCLA," said Judy Olian, Dean and John E. Anderson Chair of UCLA Anderson School of Management. "He and Irene have never forgotten that, and are now creating a legacy that will benefit others as they launch their careers and study with an industry leader."

"UCLA has been good to us,'' the Levines said. "Now it is time to give back. Our entire family is excited that we will be permanently part of this great institution. We take great pride in knowing that future generations will benefit from this gift.''

An endowed chair presents UCLA Anderson the opportunity to attract or retain an internationally acclaimed professor who, as a widely respected teacher and scholar, will continue to expand the school's reputation and influence. Such chairs are critical to protecting star educators and to attracting new ones who add disciplinary depth and diversity to our faculty.

Since the funding needed to support a chaired professor is generated by a permanent endowment, the school and the chair holder can focus on academic excellence, unencumbered by unpredictable or insufficient funding streams.

"The Levine chair is a game-changer for UCLA, the Anderson School, and the Ziman Center," said Stuart Gabriel, Director of the Ziman Center for Real Estate at UCLA. "It will provide for a new senior faculty hire in the field of real estate finance and economics and will help to assure UCLA's position among the top real estate programs worldwide."

The Levines' gift is especially significant, coming on the heels of the recent crisis in the overall economy and the real estate sector. It will help UCLA Anderson build on the intellectual capacity to understand the critical and abiding issues of real estate, the capital markets and the global economy, providing new insights for students, practitioners and policymakers.

The Levines have been long-term supporters of UCLA Anderson. Howard is a founding member of the Ziman Center Board and chairman of the Student Programs Committee, bringing in industry luminaries to share their insights with students. He has also been a guest lecturer and host of the UCLA Ziman Real Estate Alumni Group dinner.

Howard is the founder and former President/CEO of ARCS Commercial Mortgage Co., L.P., headquartered in Calabasas Hills, CA, a leading provider of commercial and multifamily mortgage financing with offices nationwide. ARCS has been the leading Fannie Mae apartment building lender in the United States for more than a decade, as well as one of the agency's top three affordable housing lenders. It was purchased in 2007 by an affiliate of PNC Bank, and now operates under the name PNC Real Estate - Multifamily.

Howard remains very active on the California Board for Mercy Housing, a large affordable housing provider. He is a past member of the Executive Board of the Mortgage Bankers Association, Commercial Board of Governors and the Multifamily Council of the Urban Land Institute. He currently serves on the UCLA Ziman Real Estate Alumni Group and the American Jewish University. He formerly served on the Board of Directors for the National Multihousing Council, the Multifamily Division of the National Association of Home Builders, the Menorah Housing Foundation and Camp Ramah.

Howard holds a BS in Accounting from NYU, and received his MBA degree in 1967 from UCLA Anderson, with an emphasis in Urban Land Economics.

About UCLA Anderson School of Management
Celebrating 75 years of Business Beyond Usual, UCLA Anderson School of Management is regarded among the leading business schools in the world. UCLA Anderson faculty members are globally renowned for their teaching excellence and research in advancing management thinking. Each year, UCLA Anderson provides a distinctive approach to management education to more than 1,800 students enrolled in its MBA, Fully-Employed MBA, Executive MBA, UCLA-NUS Global Executive MBA, Master of Financial Engineering, doctoral and executive education programs. Combining highly selective admissions, varied and innovative learning programs, and a world-wide network of 39,000 alumni, UCLA Anderson develops and prepares global leaders.

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Media Relations, (310) 206-7707, media.relations@anderson.ucla.edu

Media Relations