EOP Equity Office Properties Tru

Equity Office (NYSE:EOP) announced two acquisitions today in Southern Florida ๏ฟฝ a 50% interest in Wachovia Financial Center for $194 million, and a 50% interest of 1221 Brickell Avenue for approximately $55.8 million. "We๏ฟฝve been looking at acquisition opportunities in the Southern Florida market over the last 18 months,๏ฟฝ commented Richard Kincaid, Equity Office๏ฟฝs president and chief executive officer. The area๏ฟฝs economy continues to be among the strongest performers in the country, and we believe Miami will continue to generate strong job growth and steady demand for office space going forward. The Miami metropolitan area is experiencing a resurgence, and downtown and Brickell are two of its strongest submarkets. The Class A vacancies for downtown and Brickell are 5.7%, and 7.3%, respectively. The CBD is driven by primarily small companies across diverse industries, while Brickell is widely regarded as the premier location in Southern Florida for financial institutions and Latin American firms. ๏ฟฝFurther, these two recent investments expand our existing joint venture relationships with Macquarie Office Trust and PRUPIM,๏ฟฝ he added. Wachovia Financial Center is a 55-story, 1.1 million square-foot trophy office building located on a 2.4-acre site in Miami๏ฟฝs central business district. The building, which is 94% leased, has unobstructed ocean views over Bayfront Park, and a large open-air plaza lined with retail shops and restaurants. Macquarie Office Trust, a leading Australian listed real estate trust, is the joint venture partner on the asset. WestWind Capital Partners, on behalf of a KanAm closed-end fund, sold the 50% interest that Equity Office acquired in Wachovia Financial Center. 1221 Brickell Avenue is a 388,492-square-foot, Class A, 26-story office building in Brickell, a greater Miami submarket. The building, which is 64.7% leased, is located on a two-acre site on the southeast corner of Brickell Avenue and Coral Way, one of the most prominent intersections in this submarket. The building was acquired in a joint venture with PRUPIM, one of the UK๏ฟฝs leading real estate investment managers. PRUPIM was advised on the transaction by LaSalle Investment Management, Inc. Forward - Looking Statements This release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to, without limitation, future economic performance, plans and objectives of Equity Office for future operations and projections of revenue and other financial items, which can be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "anticipate," "estimate," or "continue" or the negative thereof or other variations thereof or compatible terminology. These forward-looking statements are based on management's present expectations and beliefs about future events. As with any projection or forecast, these statements are subject to risks and uncertainties. Important factors that could cause actual results to differ materially from those reflected in such forward-looking statements and that should be considered in evaluating this release and the outlook of Equity Office include, but are not limited to, changes in economic, business and competitive conditions, and other factors affecting the operation of the business of Equity Office and the demand for office properties. These and other risks and uncertainties are detailed from time to time in Equity Office's filings with the SEC, including its Form 10-K filed on March 15, 2006 and Form 8-K filed on March 9, 2006, as amended by Part II - Item 1A of its Form 10-Q filed on August 8, 2006. Except with respect to material changes in such risk factors as may be reflected from time to time in our quarterly filings, Equity Office is under no obligation, and expressly disclaims any obligation, to update or alter its forward-looking statements, whether as a result of changes, new information, subsequent events or otherwise. About Equity Office Equity Office Properties Trust, operating through its various subsidiaries and affiliates, is the nation's largest publicly held office building owner and manager with a total office portfolio consisting of whole or partial interests in 586 buildings comprising 109.6 million square feet in 16 states and the District of Columbia. Equity Office has an ownership presence in 24 Metropolitan Statistical Areas (MSAs) and in 101 submarkets, enabling it to provide a wide range of office solutions for local, regional and national customers. For more company information visit the Equity Office website at http://www.equityoffice.com. About Macquarie Office Macquarie Office Trust is a listed property trust with assets under management of US$4.0 billion (including associates) comprising 42 properties located across Australia and the United States. More than US$21.6 billion in property assets are managed by entities within the Macquarie group, by associates and under the Macquarie brand across a portfolio of listed and unlisted property trusts, unlisted development funds and property investment syndicates, globally. About PRUPIM PRUPIM is one of the largest real estate investment managers in the UK with over ๏ฟฝ17.2 billion invested in a broad spread of properties across all UK sectors and overseas (as at 31/12/05). PRUPIM is part of M&G, the investment arm of Prudential plc in the UK and Europe. About LaSalle Investment Management, Inc. LaSalle Investment Management, Inc., a member of the Jones Lang LaSalle group (NYSE: JLL), is a global investment management firm, exclusively managing real estate assets. At the present time LaSalle Investment Management has $39.5 billion US of public and private assets under administration, with 525 professionals worldwide. LaSalle Investment Management is active across a range of real estate capital and operating markets including private and public, debt and equity. For more information, visit www.lasalle.com. About WestWind WestWind Capital Partners is a private real estate advisory firm which has completed over $7.0 billion in transactions since its inception in 2000. WestWind currently manages a $2.5 billion portfolio of core office and retail properties on behalf of the KanAm closed and open-end funds. About KanAm KanAm is a German syndicator of closed and open-end real estate funds. Since its inception in 1978, the KanAm group has invested and managed a portfolio valued at approximately $10 billion in the United States and Europe on behalf of private and institutional investors through publicly offered real estate funds and private placements. Equity Office (NYSE:EOP) announced two acquisitions today in Southern Florida - a 50% interest in Wachovia Financial Center for $194 million, and a 50% interest of 1221 Brickell Avenue for approximately $55.8 million. "We've been looking at acquisition opportunities in the Southern Florida market over the last 18 months," commented Richard Kincaid, Equity Office's president and chief executive officer. The area's economy continues to be among the strongest performers in the country, and we believe Miami will continue to generate strong job growth and steady demand for office space going forward. The Miami metropolitan area is experiencing a resurgence, and downtown and Brickell are two of its strongest submarkets. The Class A vacancies for downtown and Brickell are 5.7%, and 7.3%, respectively. The CBD is driven by primarily small companies across diverse industries, while Brickell is widely regarded as the premier location in Southern Florida for financial institutions and Latin American firms. "Further, these two recent investments expand our existing joint venture relationships with Macquarie Office Trust and PRUPIM," he added. Wachovia Financial Center is a 55-story, 1.1 million square-foot trophy office building located on a 2.4-acre site in Miami's central business district. The building, which is 94% leased, has unobstructed ocean views over Bayfront Park, and a large open-air plaza lined with retail shops and restaurants. Macquarie Office Trust, a leading Australian listed real estate trust, is the joint venture partner on the asset. WestWind Capital Partners, on behalf of a KanAm closed-end fund, sold the 50% interest that Equity Office acquired in Wachovia Financial Center. 1221 Brickell Avenue is a 388,492-square-foot, Class A, 26-story office building in Brickell, a greater Miami submarket. The building, which is 64.7% leased, is located on a two-acre site on the southeast corner of Brickell Avenue and Coral Way, one of the most prominent intersections in this submarket. The building was acquired in a joint venture with PRUPIM, one of the UK's leading real estate investment managers. PRUPIM was advised on the transaction by LaSalle Investment Management, Inc. Forward - Looking Statements This release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to, without limitation, future economic performance, plans and objectives of Equity Office for future operations and projections of revenue and other financial items, which can be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "anticipate," "estimate," or "continue" or the negative thereof or other variations thereof or compatible terminology. These forward-looking statements are based on management's present expectations and beliefs about future events. As with any projection or forecast, these statements are subject to risks and uncertainties. Important factors that could cause actual results to differ materially from those reflected in such forward-looking statements and that should be considered in evaluating this release and the outlook of Equity Office include, but are not limited to, changes in economic, business and competitive conditions, and other factors affecting the operation of the business of Equity Office and the demand for office properties. These and other risks and uncertainties are detailed from time to time in Equity Office's filings with the SEC, including its Form 10-K filed on March 15, 2006 and Form 8-K filed on March 9, 2006, as amended by Part II - Item 1A of its Form 10-Q filed on August 8, 2006. Except with respect to material changes in such risk factors as may be reflected from time to time in our quarterly filings, Equity Office is under no obligation, and expressly disclaims any obligation, to update or alter its forward-looking statements, whether as a result of changes, new information, subsequent events or otherwise. About Equity Office Equity Office Properties Trust, operating through its various subsidiaries and affiliates, is the nation's largest publicly held office building owner and manager with a total office portfolio consisting of whole or partial interests in 586 buildings comprising 109.6 million square feet in 16 states and the District of Columbia. Equity Office has an ownership presence in 24 Metropolitan Statistical Areas (MSAs) and in 101 submarkets, enabling it to provide a wide range of office solutions for local, regional and national customers. For more company information visit the Equity Office website at http://www.equityoffice.com. About Macquarie Office Macquarie Office Trust is a listed property trust with assets under management of US$4.0 billion (including associates) comprising 42 properties located across Australia and the United States. More than US$21.6 billion in property assets are managed by entities within the Macquarie group, by associates and under the Macquarie brand across a portfolio of listed and unlisted property trusts, unlisted development funds and property investment syndicates, globally. About PRUPIM PRUPIM is one of the largest real estate investment managers in the UK with over GBP 17.2 billion invested in a broad spread of properties across all UK sectors and overseas (as at 31/12/05). PRUPIM is part of M&G, the investment arm of Prudential plc in the UK and Europe. About LaSalle Investment Management, Inc. LaSalle Investment Management, Inc., a member of the Jones Lang LaSalle group (NYSE: JLL), is a global investment management firm, exclusively managing real estate assets. At the present time LaSalle Investment Management has $39.5 billion US of public and private assets under administration, with 525 professionals worldwide. LaSalle Investment Management is active across a range of real estate capital and operating markets including private and public, debt and equity. For more information, visit www.lasalle.com. About WestWind WestWind Capital Partners is a private real estate advisory firm which has completed over $7.0 billion in transactions since its inception in 2000. WestWind currently manages a $2.5 billion portfolio of core office and retail properties on behalf of the KanAm closed and open-end funds. About KanAm KanAm is a German syndicator of closed and open-end real estate funds. Since its inception in 1978, the KanAm group has invested and managed a portfolio valued at approximately $10 billion in the United States and Europe on behalf of private and institutional investors through publicly offered real estate funds and private placements.