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April 3, 2003

MBK Real Estate

Stefan Markowitz was promoted to president of MBK Real Estate Ltd., the Southern California-based parent company of MBK Homes and Portland, Ore.-based MBK Northwest.

Markowitz replaces Mike Voss, who left to pursue other interests. Markowitz was the head of Southern California-based MBK Homes and holds responsibility for that and MBK Northwest, which Mason Frank remains president of in Portland.

MBK Northwest redeveloped two strip shopping centers near Southcenter into the 600,000-square-foot Parkway Plaza in the late 1990s and now is redeveloping the larger Lakewood Mall in Tacoma.

Markowitz led MBK Homes since its formation in 1997 to producing 300 houses per year in Southern California. Mitsui & Co. Ltd. in Japan, the world’s third largest corporation, owns MBK Real Estate.

Frank said Markowitz's promotion may lead to a blending of the housing and retail divisions to produce mixed-use projects that bring housing and retail together, "particularly in the Pacific Northwest, where density is a key issue in both retail and new home development."




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