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News Release

London

Jones Lang LaSalle Advises Corio on €1.3bn Multi Shopping Centre Portfolio


London, 31 March 2010 – Jones Lang LaSalle has advised Corio on the purchase of a €1.3bn shopping centre portfolio developed by Multi. This ranks as one of the largest European retail portfolio transactions recorded to date.

The portfolio includes one centre in Spain and one centre in Portugal however the bulk of the portfolio is in Germany and is comprised of two operational centres, in Duisburg and Dresden and a pipeline of five development properties. Corio will additionally acquire part of the Multi management team in Germany which is currently 22 people strong.

The development portfolio includes some strategically very strong centres such as Schlossstrasse, Berlin which when completed will be world class retail product in one of Europe’s most stable markets. The portfolio is of a very high quality and constitutes a new generation of shopping centres with a focus on innovative architecture that creates visually exciting retail space; Multi’s shopping centres have consistently won awards for both design and environmental qualities.

The relationship between Corio and Multi is extended with a cooperation agreement between Corio and Multi that will give each of them rights of first offer on new projects in Germany for the next 5 years.

Jones Lang LaSalle provided multi disciplinary teams in order to support Corio with both commercial advice and due diligence as well as valuation underwriting of the portfolio.

Neil Lipscomb, Director, EMEA Retail Capital Markets, Jones Lang LaSalle said: “This opportunity has enabled Corio to acquire a high class shopping centre portfolio in both its existing and new markets. Most importantly it has enabled Corio to acquire a platform in Germany. The German portfolio combines high quality standing assets with an unrivalled pipeline of development projects which will provide Corio with a supply of core product over the next few years from the leading shopping centre developer in Europe.”

Notes to Editors:
1. The Jones Lang LaSalle EMEA Retail Capital Markets Team was comprised of Neil Lipscomb, Shelley Matthews, Nicola Birkett and Ali Bryant. The country teams for capital markets were for Germany Anke Haverkamp, Gabriel Schutze and Thomas Wycislo; for Spain Cristina Collado and Portugal Pedro Lancastre.
2. The Jones Lang LaSalle EMEA Valuation Advisory team was comprised of Dermot Charleson, Christian Luft and Ann-Marie Brady. The country teams for Valuation Advisory were Carsten Meinhardt, Sabine Keulertz and Katrin Kynast, Nicoline Dechamps and Sven Herting for Germany; Teresa Martinez Arronis and Lucia Aguirre-de-Carcer for Spain; and Sofia Coelho and Alexandra Torres for Spain.
 
 

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 2009 global revenue of $2.5 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 130 million square metres 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 $40 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, 2008 and 2009 at the Commercial Real Estate Awards, Moscow and Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg. For further information, please visit our Web site http://www.joneslanglasalle.ru