February 05, 2002

Los Angeles — The Richard S. Ziman Center for Real Estate at UCLA Anderson in collaboration with the Urban Land Institute, the Los Angeles district council (ULILA), will present a symposium featuring an analysis of the strategies employed in successfully financing, redeveloping and disposing of infill apartment projects.

This first of its kind collaboration between the Ziman Center and ULILA will take place on Wednesday, February 20, 2002 at Korn Convocation Hall at UCLA Anderson. The event will begin with a reception at 6 p.m., with the program scheduled from 7 to 8:30 p.m. Program sponsors include the UCLA Real Estate Alumni Group, Kennedy-Wilson International, Commonwealth Land Title Company, Hanover Financial Company and Nevers, Palazzo, Maddux & Packard.

The symposium will include a case study of a major multi-family housing project in the San Fernando Valley. Kennedy-Wilson acquired the project with equity from Hanover Financial Company, structured the deal, analyzed the needs of Panorama City's Hispanic community, and subsequently retained CB Richard Ellis to execute an exit strategy.

"Our objective is to provide all attendees with a road map of how other similar urban infill transactions of this kind can be successfully developed," said Donald Brackenbush, ULILA's chairman. "In addition we're delighted to be able to provide our members with a closer look at the new Ziman Center, which is destined to become an important asset to our industry."

The program will begin with a macro overview of the capital and multi-family markets by Walter Torous, director of the Ziman Center and professor of finance at UCLA Anderson. Torous will also moderate the panel discussion that follows. The panelists include Stephen Cauley, associate director of the Ziman Center, Robert Hart, managing director, Kennedy-Wilson International, Michael Sanchez, managing director, Hanover Financial, and Laurie Lustig-Bower, senior vice president, CB Richard Ellis.

John Long, managing partner of Highridge Partners and chairman of the Ziman Center, noted one of the Center's principal goals is to provide research, consulting and technological support to the real estate industry.

"In the past three years we have focused our attention on illuminating the need to develop more housing for our burgeoning population," he said. "This has been done in several ways including our highly acclaimed Multi-Family Housing Conference and the Center's multi-family forecast. We see this symposium as broadening our efforts in this arena and welcome the partnership with the Urban Land Institute."

The registration cost for the February 20 reception and symposium is $50 for ULI members, $55 for non-members and $25 for public officials and students. On-site registration is $10 more in each case. On-campus parking is $6. For more information and to register, please call (800) 321-5011 or access information online at http://www.uclareag.org/reag0220.pdf.

Media Relations