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DENVER-Retiring tennis star Michael Chang, who in 1987 was the youngest player to win at the U.S. Open, has purchased the Denver-based commercial real estate firm Dunton Realty Co., with his brother and coach Carl Chang.They bought Dunton Realty through their family investment company, CMCB Enterprises.

“We have a record of successful investing with Dunton Realty in Denver,”says Carl Chang. “And we believe in the company. They have developed notonly a successful business model, but a foundation in which integrity andhonesty are of utmost importance.”

CMCB Enterprises has invested in numerous commercial real estate holdingsprimarily in California, Texas, Arizona and Denver. Michael–and Carl–areretiring from tennis this year, and intend to focus attention on expandingCMCB. With the acquisition of Dunton Realty they hope to have moreopportunities for retail development particularly at the A-level.

“Dunton Realty is the number one player in Class B and C retail,” notesCarl Chang. “We hope to capitalize on their success and expand our presence inthe Denver Class A market.”

Dunton Realty has leased and managed CMCB Enterprises-owned properties inDenver for more than 13 years. The company will celebrate its 100th birthdayin 2004 and is known for its retail brokerage and propertymanagement. Dunton Realty will retain its name and itsleadership team of Bill McKinney, Dan McKinney, and Jim McFadden.

“Currently we have 23 brokers and manage 65 properties, the bulk of whichare neighborhood centers,” says Bill McKinney. “The combination of ourbrokers and market experience with CMCB provides a strong initiative for thegrowth we anticipate.”

MCB intends to follow its successful model in other markets. InCalifornia, Arizona and Texas the family has focused their efforts on newdevelopments of Class A centers anchored by large grocery chains. Currentprojects include a 75,000-sf retail center in Southern Californiaanchored by a Kohl’s Department Store (already 100% pre-leased) and a120,000 sf newly constructed center in San Jose anchored by Albertson’s.

Carl will oversee the Dunton Realty efforts for CMCB Enterprises. He currently also runs hedge fund specializing in equity management. Michael will focus attentions on the Chang Family Foundation, anonprofit organization dedicated to community service. They have beensupporters of charity for terminally ill children in Aspen called Silver Lining.

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