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<br /> www.nreionline.com<br /> August/<br /> September 2011<br /> Developer Robin Hughes,<br /> a catalyst for change in<br /> Los Angeles, tackles<br /> innovative projects. Also<br /> inside, 5 other outstanding<br /> women. p. 17<br /> Champion of<br /> Affordable Housing<br /> PLUS:<br /> A PENTON MEDIA PUBLICATION<br /> Medical Office Trends<br /> 2011 ASHA 50<br /> 2011 NMHC Student<br /> Housing Show IssueNATIONAL REAL ESTAT<br /> wwW.nreionline.com<br /> T<br /> Developer Robir<br /> a catalyst for chan*<br /> Los Angeles, tackl<br /> innovative projects. Also1'<br /> inside, 5 other outstandii<br /> women, p. 17<br /> 1 is August/ September 2011<br /> M$<br /> l<br /> i<br /> V<br /> I<br /> 4<br /> \l<br /> LUS:<br /> 2011 NMHC Student<br /> Housing Show Issue,<br /> PRUDENTIAL COMMERCIAL REAL ESTATE<br /> THE “BE IN THE RIGHT<br /> PLACE AT THE RIGHT<br /> PRICE” CHALLENGE.<br /> When your business is growing and you need a<a title="August 2011 page 1" href="http://viewer.zmags.com/publication/e95db179?page=1"> www.nreionline.com August/ September 2011</a> <a title="August 2011 page 2" href="http://viewer.zmags.com/publication/e95db179?page=2"> PRUDENTIAL COMMERCIAL REAL ESTATE THE “BE IN THE</a> <a title="August 2011 page 3" href="http://viewer.zmags.com/publication/e95db179?page=3"> fctVOCtfETO GREATER FORT UUO??to^f Life. Less Ta</a> <a title="August 2011 page 4" href="http://viewer.zmags.com/publication/e95db179?page=4"> Datapoints A MONTHLY METER OF INdustRy</a> <a title="August 2011 page 5" href="http://viewer.zmags.com/publication/e95db179?page=5"> FROM APARTMENT BUILDINGS TO RETAIL TO INDUSTRIAL </a> <a title="August 2011 page 6" href="http://viewer.zmags.com/publication/e95db179?page=6"> Datapoints A MonTHLy MeTeR of INDustRy </a> <a title="August 2011 page 7" href="http://viewer.zmags.com/publication/e95db179?page=7"> FASTER FORWARD Nav</a> <a title="August 2011 page 8" href="http://viewer.zmags.com/publication/e95db179?page=8"> CONTENTS 81 27 DevelopmentS 10 Skec</a> <a title="August 2011 page 9" href="http://viewer.zmags.com/publication/e95db179?page=9"> ALL YOUR COMMERCIAL REAL ESTATE MANAGEMENT T</a> <a title="August 2011 page 10" href="http://viewer.zmags.com/publication/e95db179?page=10"> FIRST WORD Hotel developer does his part to g</a> <a title="August 2011 page 11" href="http://viewer.zmags.com/publication/e95db179?page=11"> O RECAP REAL ESTATE ADVISORS When an outsi</a> <a title="August 2011 page 12" href="http://viewer.zmags.com/publication/e95db179?page=12"> DEVELOPMENTS A look At projectS And </a> <a title="August 2011 page 13" href="http://viewer.zmags.com/publication/e95db179?page=13"> Energy efficiency was a necessity, accordin</a> <a title="August 2011 page 14" href="http://viewer.zmags.com/publication/e95db179?page=14"> technology news CoStar Goes Mobile will a new c</a> <a title="August 2011 page 15" href="http://viewer.zmags.com/publication/e95db179?page=15"> Finance news CMBS Delinquency Rate Hits Record-</a> <a title="August 2011 page 16" href="http://viewer.zmags.com/publication/e95db179?page=16"> Finance news Fed Surprises Markets Will the de</a> <a title="August 2011 page 17" href="http://viewer.zmags.com/publication/e95db179?page=17"> June 2011 $157.3 Million Common Stock </a> <a title="August 2011 page 18" href="http://viewer.zmags.com/publication/e95db179?page=18"> THE EXPERTS FINANCING TODAY Why Less Glam</a> <a title="August 2011 page 19" href="http://viewer.zmags.com/publication/e95db179?page=19"> Cover story Outstanding Women in Commercial R</a> <a title="August 2011 page 20" href="http://viewer.zmags.com/publication/e95db179?page=20"> OUTSTANDING WOMEN Developer Robin Hughes, a cata</a> <a title="August 2011 page 21" href="http://viewer.zmags.com/publication/e95db179?page=21"> Story by Beth Mattson-Teig Photography by Matthew</a> <a title="August 2011 page 22" href="http://viewer.zmags.com/publication/e95db179?page=22"> OUTSTANDING WOMEN SHOWPIEC</a> <a title="August 2011 page 23" href="http://viewer.zmags.com/publication/e95db179?page=23"> d From three properties to a portfolio of more t</a> <a title="August 2011 page 24" href="http://viewer.zmags.com/publication/e95db179?page=24"> or about $55,000 per year for a family of four in</a> <a title="August 2011 page 25" href="http://viewer.zmags.com/publication/e95db179?page=25"> OUTSTANDING WOMEN Inspired work yields award-winn</a> <a title="August 2011 page 26" href="http://viewer.zmags.com/publication/e95db179?page=26"> Barrett Steers Venerable Family Hotel Business To</a> <a title="August 2011 page 27" href="http://viewer.zmags.com/publication/e95db179?page=27"> WOMEN IN REAL ESTATE Pent-up Apartment Demand H</a> <a title="August 2011 page 28" href="http://viewer.zmags.com/publication/e95db179?page=28"> WOMEN IN REAL ESTATE Office Leasing Broker Staco</a> <a title="August 2011 page 29" href="http://viewer.zmags.com/publication/e95db179?page=29"> office strategies HEaltHy occupaNcy: In 2009, a v</a> <a title="August 2011 page 30" href="http://viewer.zmags.com/publication/e95db179?page=30"> office strategies broke ground on 526 out</a> <a title="August 2011 page 31" href="http://viewer.zmags.com/publication/e95db179?page=31"> SIOR The Gold Standard in Brokerage Perfor</a> <a title="August 2011 page 32" href="http://viewer.zmags.com/publication/e95db179?page=32"> office strategies “There has been a ton of c</a> <a title="August 2011 page 33" href="http://viewer.zmags.com/publication/e95db179?page=33"> Seeing the Possibilities in Build-to-Suits for ov</a> <a title="August 2011 page 34" href="http://viewer.zmags.com/publication/e95db179?page=34"> OffiCE StRAtEgiES Medical Office SaleS Stal</a> <a title="August 2011 page 35" href="http://viewer.zmags.com/publication/e95db179?page=35"> 50 2011 20 BR E A L E C N TI G YEARSASHA A</a> <a title="August 2011 page 36" href="http://viewer.zmags.com/publication/e95db179?page=36"> Increase Cash Flow with Yardi Energy Solutions </a> <a title="August 2011 page 37" href="http://viewer.zmags.com/publication/e95db179?page=37"> The Forum at Deer Creek of Deerfield Beach, FL, </a> <a title="August 2011 page 38" href="http://viewer.zmags.com/publication/e95db179?page=38"> 50 LARGEST U.S. SENIORS HOUSING OWNERS AS OF </a> <a title="August 2011 page 39" href="http://viewer.zmags.com/publication/e95db179?page=39"> ASHA 50 2011 2011 RANK</a> <a title="August 2011 page 40" href="http://viewer.zmags.com/publication/e95db179?page=40"> 2011 ASHA 50 ASHA 50 MANAGERS 50 LARGEST U.S</a> <a title="August 2011 page 41" href="http://viewer.zmags.com/publication/e95db179?page=41"> ASHA 50 2011 2011 RANK</a> <a title="August 2011 page 42" href="http://viewer.zmags.com/publication/e95db179?page=42"> 50 2011 Th</a> <a title="August 2011 page 43" href="http://viewer.zmags.com/publication/e95db179?page=43"> Helping build communities for more tHan 25 years </a> <a title="August 2011 page 44" href="http://viewer.zmags.com/publication/e95db179?page=44"> ASHA 50 ASHA 50 Survey HigHligHtS Owners The</a> <a title="August 2011 page 45" href="http://viewer.zmags.com/publication/e95db179?page=45"> We are a family of interrelated companies deliver</a> <a title="August 2011 page 46" href="http://viewer.zmags.com/publication/e95db179?page=46"> ASHA 50 CHART ONE: seniors housing units oWneD </a> <a title="August 2011 page 47" href="http://viewer.zmags.com/publication/e95db179?page=47"> ASHA 50 CHART Two: seniors housing units Manage</a> <a title="August 2011 page 48" href="http://viewer.zmags.com/publication/e95db179?page=48"> ASHA 50 Five Star Quality Care (20,792 units)</a> <a title="August 2011 page 49" href="http://viewer.zmags.com/publication/e95db179?page=49"> ASHA 50 LARGEST POSITIVE MOVEMENT Owner</a> <a title="August 2011 page 50" href="http://viewer.zmags.com/publication/e95db179?page=50"> ASHA 50 AsHA Hits Its Prime At age 20, the Amer</a> <a title="August 2011 page 51" href="http://viewer.zmags.com/publication/e95db179?page=51"> ASHA 50 was to take care of seniors, adds</a> <a title="August 2011 page 52" href="http://viewer.zmags.com/publication/e95db179?page=52"> ASHA 50 ASHA MileStoneS 1990 The National Multi </a> <a title="August 2011 page 53" href="http://viewer.zmags.com/publication/e95db179?page=53"> ASHA 50 PAC topped $500,000. “ASHA's most</a> <a title="August 2011 page 54" href="http://viewer.zmags.com/publication/e95db179?page=54"> ASHA 50 The Legacy of Bill Colson N </a> <a title="August 2011 page 55" href="http://viewer.zmags.com/publication/e95db179?page=55"> ASHA 50 Sound Bites From ASHA Leaders Past and P</a> <a title="August 2011 page 56" href="http://viewer.zmags.com/publication/e95db179?page=56"> ASHA EXECUTIVE COMMITTEE Edward R. Kenny </a> <a title="August 2011 page 57" href="http://viewer.zmags.com/publication/e95db179?page=57"> ASHA EXECUTIVE BOARD Karen M. Anderson </a> <a title="August 2011 page 58" href="http://viewer.zmags.com/publication/e95db179?page=58"> ASHA EXECUTIVE BOARD Steven Schmidt Fred</a> <a title="August 2011 page 59" href="http://viewer.zmags.com/publication/e95db179?page=59"> ASHA EXECUTIVE BOARD James F. Sherman </a> <a title="August 2011 page 60" href="http://viewer.zmags.com/publication/e95db179?page=60"> ASHA EXECUTIVE BOARD Michael S. Grust </a> <a title="August 2011 page 61" href="http://viewer.zmags.com/publication/e95db179?page=61"> Brookdale Senior living, The Hallmark | Senior</a> <a title="August 2011 page 62" href="http://viewer.zmags.com/publication/e95db179?page=62"> 2011 ADVISORY COMMITTEE AMERICAN SENIORS HOUS</a> <a title="August 2011 page 63" href="http://viewer.zmags.com/publication/e95db179?page=63"> 2011 ADVISORY COMMITTEE AMERICAN SENIORS HOUS</a> <a title="August 2011 page 64" href="http://viewer.zmags.com/publication/e95db179?page=64"> 2011 ASSOCIATE MEMBERS AMERICAN SENIORS HOUSI</a> <a title="August 2011 page 65" href="http://viewer.zmags.com/publication/e95db179?page=65"> 2011 ASSOCIATE MEMBERS AMERICAN SENIORS HOUSI</a> <a title="August 2011 page 66" href="http://viewer.zmags.com/publication/e95db179?page=66"> 2011 ASSOCIATE MEMBERS AMERICAN SENIORS HOUSI</a> <a title="August 2011 page 67" href="http://viewer.zmags.com/publication/e95db179?page=67"> It is a matter for Principle. Seniors Healthca </a> <a title="August 2011 page 68" href="http://viewer.zmags.com/publication/e95db179?page=68"> 2011 ASSOCIATE MEMBERS AMERICAN SENIORS HOUSING</a> <a title="August 2011 page 69" href="http://viewer.zmags.com/publication/e95db179?page=69"> I’ll buy you a drink. And your retirement communi</a> <a title="August 2011 page 70" href="http://viewer.zmags.com/publication/e95db179?page=70"> When you add it all up, the numbers are only pa</a> <a title="August 2011 page 71" href="http://viewer.zmags.com/publication/e95db179?page=71"> ASHA ABOUT T he American Seniors </a> <a title="August 2011 page 72" href="http://viewer.zmags.com/publication/e95db179?page=72"> ASHA ABOUT Networking and Exchange of S</a> <a title="August 2011 page 73" href="http://viewer.zmags.com/publication/e95db179?page=73"> Experienced architects. Experienced investors. Ex</a> <a title="August 2011 page 74" href="http://viewer.zmags.com/publication/e95db179?page=74"> ASHA 50 ASHA Meeting ScHedule 2011-2012 Novembe</a> <a title="August 2011 page 75" href="http://viewer.zmags.com/publication/e95db179?page=75"> What if your community could reach its full poten</a> <a title="August 2011 page 76" href="http://viewer.zmags.com/publication/e95db179?page=76"> 2011 Seniors Housing PAC Campaign The Ameri</a> <a title="August 2011 page 77" href="http://viewer.zmags.com/publication/e95db179?page=77"> A Leading National Lender to the Multifamily, Sen</a> <a title="August 2011 page 78" href="http://viewer.zmags.com/publication/e95db179?page=78"> REALIZED Sometimes bringing your commercial real</a> <a title="August 2011 page 79" href="http://viewer.zmags.com/publication/e95db179?page=79"> 2011 SeniorS HouSing Study Jury is out on Cap r</a> <a title="August 2011 page 80" href="http://viewer.zmags.com/publication/e95db179?page=80"> 2011 SENIoRS HouSINg Study District of Columbi</a> <a title="August 2011 page 81" href="http://viewer.zmags.com/publication/e95db179?page=81"> Positioned for what's next. commer</a> <a title="August 2011 page 82" href="http://viewer.zmags.com/publication/e95db179?page=82"> 2011 SENIoRS HouSINg Study own or manage t</a> <a title="August 2011 page 83" href="http://viewer.zmags.com/publication/e95db179?page=83"> city REViEW-PhiladelPhia Aiming to Make the `A</a> <a title="August 2011 page 84" href="http://viewer.zmags.com/publication/e95db179?page=84"> PhIlAdElPhIA: by thE NumbERs PoPulAtIoN</a> <a title="August 2011 page 85" href="http://viewer.zmags.com/publication/e95db179?page=85"> city REViEW-PhiladelPhia and provide an att</a> <a title="August 2011 page 86" href="http://viewer.zmags.com/publication/e95db179?page=86"> APPETIZING INCENTIVES: Some attractive tax breaks</a> <a title="August 2011 page 87" href="http://viewer.zmags.com/publication/e95db179?page=87"> city REViEW-PHilAdelPHiA Philadelphia developers </a> <a title="August 2011 page 88" href="http://viewer.zmags.com/publication/e95db179?page=88"> 7 million passengers annually. The sta- tion is i</a> <a title="August 2011 page 89" href="http://viewer.zmags.com/publication/e95db179?page=89"> CITY REVIEW-PHILADELPHIA </a> <a title="August 2011 page 90" href="http://viewer.zmags.com/publication/e95db179?page=90"> USAA Real Estate Company Development Capital. o</a> <a title="August 2011 page 91" href="http://viewer.zmags.com/publication/e95db179?page=91"> 9th Annual NMHC Student Housing Conference & Expo</a> <a title="August 2011 page 92" href="http://viewer.zmags.com/publication/e95db179?page=92"> Student Housing Moves to the Mainstream </a> <a title="August 2011 page 93" href="http://viewer.zmags.com/publication/e95db179?page=93"> leasing teams now lend them tablet-type devices </a> <a title="August 2011 page 94" href="http://viewer.zmags.com/publication/e95db179?page=94"> 9th Annual NMHC Student Housing Conference & Expo</a> <a title="August 2011 page 95" href="http://viewer.zmags.com/publication/e95db179?page=95"> Conference Sponsors: Media Sponsor: </a> <a title="August 2011 page 96" href="http://viewer.zmags.com/publication/e95db179?page=96"> Student Housing: Opportunities and Threats </a> <a title="August 2011 page 97" href="http://viewer.zmags.com/publication/e95db179?page=97"> Cover STory National Student Housing Counci</a> <a title="August 2011 page 98" href="http://viewer.zmags.com/publication/e95db179?page=98"> NO MATTER HOW YOU WORD IT, WE DO MULTIFAMILY LEND</a> <a title="August 2011 page 99" href="http://viewer.zmags.com/publication/e95db179?page=99"> IndustrIal strategIes BUILDING BIG</a> <a title="August 2011 page 100" href="http://viewer.zmags.com/publication/e95db179?page=100"> industrial strategies “The Inland Empire has to</a> <a title="August 2011 page 101" href="http://viewer.zmags.com/publication/e95db179?page=101"> Wn pBff* \f Opportunities Rising: WELCOME TO</a> <a title="August 2011 page 102" href="http://viewer.zmags.com/publication/e95db179?page=102"> industrial strategies PREMIUM PRICING</a> <a title="August 2011 page 103" href="http://viewer.zmags.com/publication/e95db179?page=103"> ly rent for distribution space was about 31 cents</a> <a title="August 2011 page 104" href="http://viewer.zmags.com/publication/e95db179?page=104"> INDUSTRIAL STRATEGIES PORT ACTIVITY HEAT</a> <a title="August 2011 page 105" href="http://viewer.zmags.com/publication/e95db179?page=105"> A PENTON MEDIA PUBLICATION www.nreionline.com </a> <a title="August 2011 page 106" href="http://viewer.zmags.com/publication/e95db179?page=106"> THE EXPERTS Tax NoTes Combatting the Road </a> <a title="August 2011 page 107" href="http://viewer.zmags.com/publication/e95db179?page=107"> THE EXPERTS NMHC INsIgHts Uncertainty Hang</a> <a title="August 2011 page 108" href="http://viewer.zmags.com/publication/e95db179?page=108"> THE EXPERTS Investment InsIder Why Single-</a> <a title="August 2011 page 109" href="http://viewer.zmags.com/publication/e95db179?page=109"> THE EXPERTS Money & Real estate The Tim</a> <a title="August 2011 page 110" href="http://viewer.zmags.com/publication/e95db179?page=110"> THE EXPERTS Last word The Forgotten Party </a> <a title="August 2011 page 111" href="http://viewer.zmags.com/publication/e95db179?page=111"> Innovative solutions Exceptional service Seamless</a> <a title="August 2011 page 112" href="http://viewer.zmags.com/publication/e95db179?page=112"> CB Richard Ellis Realty Trust $3,000,000,000 in </a>