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News Release


JLL brings Treveria Silo E Portfolio to the market

​​Frankfurt, 25 August, 2014 – JLL has been instructed with the sale of 127 properties in the Treveria Silo E Portfolio (the “Portfolio”). The decision to market the Portfolio was driven by the recommendation of loan servicer Hatfield Philips International (“HPI”), who is acting as special servicer to the mortgage creditors.

The Portfolio, named Project Sunrise, will be marketed in its entirety and mainly consists of city centre retail assets in 1A and 1B locations spread throughout Germany. Amongst others, the Portfolio includes the Gloria Galerie on Kurfürstendamm in Berlin, shopping centers in Wilhelmshaven and Solingen, as well as department stores in Brühl, Euskirchen and Koblenz.

Since the insolvency proceedings were initiated at the beginning of 2013, the properties have been handled by the insolvency administrator Ottmar Hermann, Frankfurt, two Dutch insolvency administrators and HPI. In recent months, the asset manager Corpus Sireo, in cooperation with Acrest Property Group and IC Immobilien Gruppe, has stabilised the assets in preparation for sale.

JLL will start marketing the Portfolio at the beginning of September.

Peter Birchinger, JLL Head of Portfolio Investment Germany, stated, “Due to the excellent market conditions and the highly attractive nature of the portfolio, we expect high demand from both national and international investors.”

Blair Lewis, Chief Executive Officer of Hatfield Philips, added, “After careful consideration, we firmly believe now is the appropriate time to market the portfolio given its intrinsic value and attractive lease profile. This, combined with the strength of the market, should result in significant investor interest. We look forward to the sales process and maximizing proceeds to noteholders.”

About JLL

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $50.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

In Russia and CIS JLL has offices in Moscow, St. Petersburg and Kiev. JLL, Russia & CIS was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009, 2010, 2011, 2012 , 2013 and 2014 at the Commercial Real Estate Awards, Moscow; Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg and The Best Real Estate Consultancy in Ukraine at the Ukrainian Property Awards in 2013.

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