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NAREIT capitol Summer 2009 comments The quote to the left is attributed to the former Speaker of the House of "All politics is local." Representatives, Thomas P. (“Tip”) O’Neill, Jr. However, as revealed in his 1987 autobiography, Man of the House, O’Neill did not coin this phrase – it was —Thomas P. O’Neill, Jr. passed down to him from his father, Thomas O’Neill, Sr., on the occasion of the only political election the former Speaker ever lost, a seat on the Cambridge, MA City Council. As recorded in the book, “…when [the campaign] was over, [my father] pointed out that I [had] taken my own neighborhood for granted…I had received a tremendous vote in the other sections of the city, but I hadn’t worked hard enough in my own backyard. ‘Let me tell you something I learned years ago,’ he said, ‘all politics is local.’” And so, with this quote, the strong link between knowing what is happening in one’s own backyard and being a successful politician entered the political lexicon. For this reason, NAREIT staff began three years ago to undertake a serious effort to familiarize Members of Congress and Senators with the various REIT properties that form part of every Congressional backyard, or district. After all, there is at least one REIT property located in each of the 435 congressional districts. Legislators have accepted invitations to visit specific REIT properties located in their districts or states – shopping centers, regional malls, office buildings, research centers, and industrial warehouses – that were recently opened, recently expanded or redeveloped, or simply constituted a significant presence in the district’s local economy. NAREIT staff believes, and can demonstrate, that these past efforts have brought the pub- licly-traded real estate industry closer to federal legislators so that the REIT approach to real estate investment can be better understood by key policymakers. We cannot overstate the importance of these and other contacts with federal legis- lators. These onsite visits by Members of Congress or their staffs are critical to NAREIT’s overall objective of informing key policymakers about our industry, especially at this time when the nation’s financial system is under such severe strain. They are important because they tell the REIT story to the Member in the best way possible — by seeing firsthand what the industry has accomplished with investments from many of their constituents as well as from typical investors around the nation. Through our grassroots pro- gram, Members witness for themselves the handiwork, if you will, of the REIT industry in their own backyards, and learn about the value REITs return to their communities and their share- holders. They are especially important for those Members of Congress who serve on one of the key tax-writing or banking committees, which will provide tremendous assistance to NAREIT’s NAREIT Officers future legislative and political outreach activities. At the same time, the grassroots program will serve to familiarize Members of Congress with the CHAIR companies they represent in Congress. Whether through sponsoring onsite visits or attendance at Constance B. Moore public events, such as ribbon-cuttings, NAREIT’s members can help NAREIT get the industry’s story BRE Properties, Inc. out to legislators while communicating their own company’s story. PRESIDENT & CEO Steven A. Wechsler Since NAREIT staff began this grassroots program, a total of 27 Members of Congress or their staffs have visited REIT properties, including the offices of Senators Blanche Lincoln (D-AR), Orrin Hatch (R- FIRST VICE CHAIR UT), James Webb (D-VA), former Senator Hillary Clinton (D-NY), and Representatives Chris Van Hollen Debra A. Cafaro (D-MD), Earl Blumenauer (D-OR), John Shadegg (R-AZ), and Michael Capuano (D-MA). A complete list Ventas, Inc. of the Members of Congress who have visited REIT properties since 2006, and the REIT companies that have hosted them, is located on the following page. SECOND VICE CHAIR Bryce Blair NAREIT has been pleased with a number of on-site visits that have occurred since last spring, which are AvalonBay Communities, Inc. pictured on the following pages. We look forward to working with our membership to arrange addi- TREASURER tional visits between now and the end of the year. Donald C. Wood Federal Realty Investment Trust We would like to request that each of our members consider participating in NAREIT’s grassroots pro- gram that will showcase their properties to federal legislators and greatly help in spreading the message (continued) Continued From Page one on Capitol Hill about the economic benefits of the REIT form of investing in real estate. Most politicians know Mr. O’Neill’s quote. In fact, they often quote it themselves. With this in mind, the REIT industry can take advantage of this knowledge and familiarize our policymakers with those REIT properties that are located in their own backyards. We encourage you to contact Ryan Kilpatrick, NAREIT’s Manager, REITPAC and Grassroots Activities ([email protected]) to discuss how your company can become involved in this worthwhile program and begin the process of scheduling a grassroots contact for key policymakers with your company and employees. — Robert Dibblee, VP, Government Relations Congressional Offices Participating in NAREIT’s Grassroots Program Senator Robert Bennett (R-UT) Rep. Chaka Fattah (D-PA) Senator Hillary Clinton (D-NY) (retired) Rep. Gabrielle Giffords (D-AZ) Senator Orrin Hatch (R-UT) Rep. Ric Keller (R-FL) (retired) Senator Blanche Lincoln (D-AR) Rep. Nicholas Lampson (D-TX) Senator Gordon Smith (R-OR) (retired) Rep. Jim Moran (D-VA) Senator Jim Webb (D-VA) Rep. Jim Matheson (D-UT) Rep. John Adler (D-NJ) Rep. Timothy Murphy (R-PA) Rep. John Barrow (D-GA) Rep. John Murtha (D-PA) Rep. Melissa Bean (D-IL) Rep. Ed Perlmutter (D-CO) Rep. Shelley Berkley (D-NV) Rep. John Shadegg (R-AZ) Rep. Earl Blumenauer (D-OR) Rep. Patrick Tiberi (R-OH) Rep. Michael Capuano (D-MA) Rep. Dina Titus (D-NV) Rep. Andre Carson (D-IN) Rep. Chris Van Hollen (D-MD) Rep. Gerry Connolly (D-VA) NAREIT Members Participating in NAREIT’s Grassroots Program AMB Property Corporation Inland Real Estate Corporation AvalonBay Communities, Inc. Kimco Realty Corporation Biomed Realty Trust LaSalle Hotel Properties Brandywine Realty Trust Macerich CBL & Associates, Inc. Pennsylvania REIT General Growth Properties Regency Centers Corporation Glimcher Realty Trust Simon Property Group Highwoods Properties, Inc. Tanger Factory Outlet Centers, Inc. in focus perspectives A Gallery of Recent Events on the hill Representative Tiberi Tours Glimcher’s Polaris Fashion Place Center Thursday, August 27: Representative Patrick Tiberi (R-OH), left, is Representative Moran Visits Tysons Corner Center pictured with Marshall Loeb, President & COO, Glimcher Realty Tuesday, August 25: Representative Jim Moran (D-VA), right, Trust, during his recent tour of Glimcher’s Polaris Fashion Place stands with Dana Anderson, Vice Chairman, Macerich, during his Center in Columbus, OH. Loeb and other Glimcher executives recent tour of Macerich’s Tysons Corner Center located in updated Mr. Tiberi on the Center’s recent development and the McLean, VA. Anderson, along with John Harrison, Vice President state of the REIT industry. Tiberi is a member of the Ways and of Development, and Chuck Cope, Vice President, Macerich East Means Committee, the principal tax-writing committee in the Development LLC, briefed Rep. Moran on Macerich’s future plans House of Representatives. for the Center and the state of transportation development sur- rounding the Center. Regency Centers Corporation Hosts Representative Connolly at The Shops at Stonewall Macerich Executives Update Representative Connolly on Wednesday, August 26: Representative Gerry Connolly (D-VA), the Tysons Corner Center Development second from left, is pictured with executives from Regency Monday, August 24: Representative Gerry Connolly (D-VA), right, Centers during his recent tour of the company’s latest develop- listens to Dana Anderson, Vice Chairman, Macerich, as he ment in Gainesville, VA, The Shops at Stonewall. Pictured with updates him on the latest construction and transportation devel- Connolly are, left to right, Rich Sutphin, Vice President, opments associated with the Tysons Corner Center in McLean, VA. Regional Officer; Taylor Chess, Senior Vice President, Investments; Macerich’s John Harrison, Vice President of Development, and Emily Ford, Regional Marketing Manager; and Keith Lebor, Chuck Cope, Vice President, Macerich East Development LLC, also Property Manager, The Shops at Stonewall. participated in the briefing. Rep. Connolly is the former Fairfax County Supervisor and is very familiar with the Tysons Corner Center, and appreciated being updated on the company’s future plans for the Center. We encourage you to get involved with the growing grassroots program at NAREIT. NAREIT stands ready to better inform Members of Congress on your company’s activities. Contact: Ryan Kilpatrick at [email protected] or (202) 739-9436. in focus perspectives A Gallery of Recent Events on the hill Representative Adler visits Pennsylvania REIT’s Cherry Hill Representative Barrow Tours AMB Property Corporation’s Mall Morgan Business Park Wednesday, July 1: Representative John Adler (D-NJ), right, is pic- Friday, May 8: Representative John Barrow (D-GA), third from the tured with Edward Glickman, President & COO, Pennsylvania right, is pictured with executives with AMB Property Corporation REIT,