September 11, 2001

Los Angeles — UCLA Anderson has raised $10 million to launch a new center for real estate research and education. Richard S. Ziman, a leading Southern California real estate executive with a long history of support for education and community causes, provided the lead gift of $5 million to kick off the center, which will be named the Richard S. Ziman Center for Real Estate at UCLA Anderson.

Ziman, chairman of the board and chief executive officer of Los Angeles-based Arden Realty, Inc., a premier Southern California real estate investment and development company, said the real estate industry has become one of the most important forces in shaping our nation's urban centers.

"Real estate extends far beyond its traditional focus on bricks and mortar, as it now reflects and is a major factor in the significant social and political issues of our time," Ziman said. ""Where we live and the quality of our future personal and business lives will be determined by the planning, design and development of our urban environment. Are we up to the challenge? The answer is 'yes,' if the vision begins at institutions like UCLA, working in tandem with business and political leaders to take us to each successive level of innovation."

Bruce G. Willison, dean of UCLA Anderson, said the Ziman gift and other contributions will help position the center as a global resource for academics and practitioners as they confront new challenges in the real estate industry. The infusion of funds will enhance UCLA Anderson's real estate curriculum, academic and practitioner-oriented research, and professional activities in this rapidly changing industry. The Ziman Center will be officially launched and named during the Multi-Family Housing Forecast Conference, which will be presented by UCLA Anderson on Sept.13.

"Richard Ziman's generosity will enable the center to be at the forefront in addressing critical issues facing our urban society and the role of the real estate industry in Southern California," Willison said. "This gift will serve to bring vitality and prominence to the center and will capitalize on UCLA Anderson's defining strengths — expert faculty, outstanding students, research and forecasting, dedicated alumni, and corporate alliances," he added.

The Ziman Center is also well positioned to become a leader in real estate education and research due to its strategic position at the heart of Southern California and the Pacific Rim, as well as at UCLA — one of the world's premier universities with top-ranked programs in management, law, public policy, technology, economics, engineering and architecture.

In addition to Ziman, major contributors to the Ziman Center include John S. Long, founding partner and chairman of the center and managing partner of Highridge Partners, who provided an endowed fund for research and teaching; John and Marion Anderson, whose gift established an endowed fund for the Marion Anderson Chair; Arden Realty, Inc, which provided funding for the Arden Realty Chair; and Lenore and Murray Neidorf, senior partner of Perry and Neidorf, who provided an endowed fund for fellowships.

With more than 25 years of experience as a leader and innovator in the industry, Ziman exemplifies the qualities esteemed by UCLA Anderson. As chairman and CEO of Arden Realty, Inc., he has led the company to redefine the role of commercial property owners. The recipient of numerous awards, Arden Realty is the largest owner of office space in Southern California. A New York Stock Exchange real estate investment and development company, Arden Realty's portfolio includes more than 140 office properties containing almost 20 million rentable square feet in more than 250 buildings.

Ziman has held many leadership positions in the cultural, educational and social service life of Southern California. He has served three two-year terms as chairman of the board of directors of the City of Hope National Medical Center and its Beckman Research Institute. He also holds prominent positions with such institutions and organizations as the Hebrew University of Jerusalem, the Jewish Home for the Aging, the Los Angeles Arts Council, and the Democratic National Committee. He is a founder of the University of Judaism and the Los Angeles Music Center.

Reflecting the rapid changes in the real estate industry, the Ziman Center's activities will integrate UCLA Anderson's strengths in finance, technology, and entrepreneurship in redefining the real estate business, said center Chairman John S. Long of Highridge Partners, a major international real estate investment and development company. "Grounded in solid teaching, research and practical application principles, combined with strong professional outreach, the Richard S. Ziman Center for Real Estate at UCLA Anderson is poised to be the leader in the evolution of this industry," Long said.

"The industry is rapidly becoming more integrated, particularly in terms of capital markets, the recent growth of real estate investment trusts (REITs) and other publicly traded real estate companies, advancements in economic theory and finance modeling tools," said Walter Torous, director of the center and professor of finance.

The Ziman Center's plans and initiatives include:

Curriculum: In addition to expanding the concentration in the MBA program, the center will develop undergraduate courses in real estate and an executive education program customized for real estate professionals.
Research: The center offers an integrated program of academic research, practitioner-oriented research and database development. Research topics include the California housing crisis, the lack of standardization in capital markets, the dynamics of the real estate market and the implications of technological advances.

Professional activities: The center currently offers the premier forecast on the Los Angeles multi-family housing market. It proposes to expand this forecast to serve as an industry resource, particularly in terms of investment funds on individual, national and global levels. The center also plans industry symposiums, career services and other activities geared for real estate students and practitioners.

The Ziman Center is led by Chairman John S. Long; Director Walter Torous, a professor of finance; and Associate Director Stephen Cauley, a lecturer in real estate finance. World-renowned UCLA Anderson finance professors Richard Roll and Eduardo S. Schwartz will also serve as faculty members with the center.

For further information about the Ziman Center, please visit

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