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News Release

Moscow

Capital France Hôtel closes the first hotel transaction of the year with Compagnie La Lucette in Paris.

Jones Lang LaSalle Hotels advises seller


Moscow, 7th April 2009 – In the first Parisian transaction of the year Capital France Hôtel (CFH), the hospitality fund managed by Algonquin Asset Management France, has acquired the Radisson Paris Boulogne Hotel from Compagnie La Lucette. Jones Lang LaSalle Hotels advised Compagnie La Lucette.
 
Mark Wynne-Smith, CEO of Jones Lang LaSalle Hotels EMEA, said: “This transaction is a sign of medium term confidence in the Paris market. Investors who are still active continue to focus on Paris and London. They are best positioned to weather the financial downturn, could recover more quickly and have had low growth in supply in recent years. Paris is showing remarkable resilience in attracting international and domestic visitors and is likely to maintain healthy occupancy levels. As such Parisian hotels look capable of holding their values in comparison to other cities.”
 
The Radisson Paris Boulogne Hotel is located on 31/33 avenue Edouard Vaillant in Boulogne Billancourt. The 4 star hotel was completed in 2005 and features 170 rooms, a bar, a restaurant and 5 meeting rooms.
 
Notes to Editors:
Compagnie la Lucette is listed on Euronext Paris' Eurolist B. At 31 December 2007, MSREF Turque Sarl, a real estate fund managed by Morgan Stanley Real Estate, held 93.6% of the Company's share capital.
 
 
 
About Jones Lang LaSalle Hotels
Jones Lang LaSalle Hotels, the first and leading global hotel investment services firm, is uniquely positioned to provide the depth and breadth of advice required by hotel investor and operator clients, through a robust and integrated local network. In 2008, Jones Lang LaSalle Hotels provided sale, purchase and financing advice on over $3.7bn worth of transactions globally relating to more than 120 assets. In addition, advisory and valuation services were provided on more than 600 assignments. The global team comprises over 220 hotel specialists, operating from 32 offices in 19 countries. The firm’s advice is supported by a dedicated global research team, which produced 87 publications in 2008 in addition to client research. Jones Lang LaSalle Hotels’ services span the hospitality spectrum; from luxury single assets and large portfolios to select service and budget hotels, resorts and pubs. Their services include investment sales, mergers and acquisitions, capital raising, valuation and appraisal, asset management, strategic planning, operator selection, management contract negotiation, consulting, industry research and project development services. Jones Lang LaSalle Hotels’ clients have access to the resources of its parent company, Jones Lang LaSalle (NYSE: JLL). http:// www.joneslanglasallehotels.com
 
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specialising in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2008 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.3 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $46 billion of assets under management.
In Russia and CIS Jones Lang LaSalle have offices in Moscow, St. Petersburg, Kiev and Almaty. Jones Lang LaSalle, Russia was voted Consultant of the Year in 2004, 2006, 2007 and 2008 at the Commercial Real Estate Awards (Russia). For further information, please visit our Web site,  http://www.joneslanglasalle.ru