22 June 2009 - MGPA, the private equity real estate investment advisory company, today announces the successful sale of Munich City Tower (MCT) by its managed fund Global Fund I to the private equity fund FREO Germany II Partners (SCA) SICAR. The fund is managed by Luxembourg-based Freo Group. Located in Munich’s sought-after western part of the Mittlerer Ring, MCT is a modern office building, and with 24 floors is one of the few high rises in Munich. Having been developed by MGPA between 2001 and 2003, the modern office building provides 22,965 sqm of lettable space and 188 parking units.

Until May 2009, Munich City Tower has been the headquarters of MAN. Since then, MGPA signed new lease contracts with one of Germany’s largest health insurance companies and the Go Yellow Media Group, amongst others. Hence, more than 50 percent of the lettable space has already been re-let.

Marius Schoener, Head of MGPA Germany, said: “The Munich City Tower was the last investment in our fund Global Fund I. We have been able to successfully re-let the property and are pleased to have found a renowned buyer with Freo Germany II Partners Fund, even under challenging market conditions. Germany remains a key market in Europe for us as we look for new opportunities to invest through our most recent MGPA Europe Fund III. MGPA, through this recent fund, has the necessary equity available and the support and confidence of banks which will enable us to do large scale transactions even in the current market environment.”

Olivier Brazier, Head of FREO Germany II Partner (SCA) SICAR, said: “We are pleased about the acquisition of the Munich City Tower. It’s one of Munich’s few office high rises in a convincing inner city location, and provides excellent fit out qualities. We expect high demand for further lettings and growth potential”

The Seller has been advised by Jones Lang LaSalle.

MGPA

MGPA is an independently managed private equity real estate investment advisory company focused on real estate investment in Europe and Asia. Through its headquarters in Bermuda and network of offices throughout Europe and Asia, MGPA currently manages US$10.4 billion in assets throughout these two regions. Its managed investments include development and redevelopment projects, joint-ventures and real estate operating companies in the office, retail, industrial, residential and hotel sectors. MGPA is owned by its senior management team and the Macquarie Group. For more information about MGPA please visit www.mgpa.com.

FREO Group

FREO Germany II Partners (SCA) SICAR is a private equity real estate fund based in Luxemburg. It has been initiated by FREO Group start of 2007 and raised €161 million of equity until June 2008. Seven institutional Investors from Europe, Asia and USA have committed equity for this CSSF-regulated closed-ended fund. The fund’s lifetime is five years. The fund manager FREO Investment Management Sàrl, Luxemburg targets standing investments with re-letting and value growth potential as well as developments in Germany.Further information please visit www.freogroup.com