MBK In the News

MBK Senior Living LLC Names New President

MBK President Stefan Markowitz announces Howard appointment as MBK re-enters the senior housing business

IRVINE, CA – (November 9, 2004) – Irvine, California-based MBK Real Estate Ltd. has announced the appointment of Terry Howard as president of the company’s MBK Senior Living division. Howard’s new position involves responsibility for the acquisition and operation of independent and assisted living assets and development of new senior housing communities.

Howard assumes the position at MBK upon the company’s decision to revitalize its senior living division. MBK, which owned and operated senior communities in the 1990’s prior to divesting in 1999, will grow principally through the acquisition of existing independent and assisted living properties in California. Ground-up development projects will also be considered in selected markets.

“The addition of Terry Howard to the MBK team reflects our desire to grow MBK Real Estate, not only in existing business lines, including retail development and home building, but in areas where we have historically been successful,” said Stefan Markowitz, president of MBK Real Estate. “With his deep knowledge and experience within the senior housing market, Terry will be instrumental in building and growing our Senior Living division and establishing a strong presence for MBK in the California senior housing market. We are very pleased to have Terry join the executive team at MBK.”

Howard brings more than 20 years’ experience in the planning, development, acquisition, operation, and sales and marketing of more than seventy senior projects nationwide. He has vast experience and expertise within many segments of the seniors housing marketing, including senior apartments, independent living, assisted living, Alzheimer’s care, skilled nursing care and continuing care retirement communities representing more than 12,000 units with a portfolio value exceeding $1 billion. Howard has participated in the successful growth and development of senior living organizations such as Kisco Senior Living and Birtcher Senior Properties, where he served as executive vice president, and The Forum Group, where he held a senior level sales and marketing position. Most recently, Howard was the principal of The Howard Group, a consulting firm focused on developing effective product positioning, operations and marketing strategies to clients within the senior housing industry.

“I was very attracted to MBK because of the company’s impressive business success as well as its exceptional reputation as an employer that encourages personal and professional growth,” said Howard. “MBK is known throughout the real estate industry as a company with great integrity and financial strength. I welcome the opportunity to work with MBK and to spearhead the revitalization and growth of the company’s senior living division.”

Company Background
MBK Real Estate Ltd. and its three wholly owned subsidiaries, comprise the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world’s largest corporations. The company’s core business activities include the acquisition, redevelopment and development of retail/entertainment properties, the development and sale of for sale housing and the development, acquisition and management of senior living properties.

MBK Real Estate Ltd. is headquartered in Irvine, CA, with regional offices in Portland, OR. Corporate offices are located at 175 Technology Drive, Irvine, CA 92618; phone 800.566.7100; fax (949) 789-9300; or visit its Web site at www.mbk.com.

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