14 November 2006 -Macquarie Global Property Advisors (MGPA), a private equity fund advisory company, has acquired the Fuji Grand Imabari Shopping Center, on behalf of its MGP Japan Core Plus Fund (the Fund) for ¥3.4 billion (US$29 million).

This is the second acquisition for the Fund which closed earlier this month with equity commitments of ¥102 billion (US$865 million).

Fuji Grand Imabari Shopping Center is located in Imabari City. It has a gross floor area of 27,328 square metres including 60 speciality stores, a cinema complex, and amusement facilities.

The Property will be leased back to the operator subject to a long term lease. This well maintained property has two anchor tenants and is managed by the largest and most credible shopping center and supermarket operator in the region.

Ken Curtis, MGPA Managing Director said “This is an excellent investment for the Fund as it fits our investment strategy of establishing a portfolio of properties throughout Japan that have a long-term stable and growing income.”

“We have a very positive outlook on all real estate sectors throughout Japan and believe that this investment will also benefit from the strong growth we are seeing in the retail sector in particular.”

MGP Japan Core Plus Fund has already acquired a 13 property portfolio for ¥9.25 billion (approximately US$80.8 million) located in four cities throughout Japan.

“We are seeing excellent investment opportunities in all sectors in Greater Tokyo and secondary cities throughout the country. We look forward to making further acquisition announcements for MGP Japan Core Plus Fund in the near future,” said Mr Curtis.