Macquarie Office Announces New Partner at Wachovia Financial Centre, Miami

Macquarie Office’s Chief Executive Officer, Adrian Taylor said: “The Trust looks forward to developing a strong working relationship with JPMorgan Asset Management in the ownership of this premier asset. The alignment of our investment strategies provides an excellent opportunity to both maximise the performance of Wachovia Financial Center and establish an important new investment relationship between our organisations.”

JPMorgan Asset Management’s Anne Pfeiffer, Managing Director and Portfolio Manager said: “We are pleased with the acquisition of Wachovia Financial Center and our partnership with Macquarie Office Trust. The Miami market is very attractive as it demonstrates strong market fundamentals with low vacancy rates, limited supply and solid rental growth potential. We believe the investment will generate solid returns over a sustained timeframe.”

Located in Miami’s central business district, the 1,225,000 sqft office building is considered a landmark property and has long-term leases in place with prestigious tenants.

Advisory services on the transaction were provided to the parties by Jones Lang LaSalle.

Macquarie Office Trust is a listed property trust with assets under management of A$6.0 billion (including associates) located within Australia, the United States, Western Europe and Japan. Circa A$24 billion of real estate assets are managed globally by Macquarie Real Estate and its associates, across a portfolio of listed and unlisted property trusts, unlisted development funds and property investment syndicates. Macquarie’s real estate investment management expertise has been recognised internationally, voted No. 1 in Investment Management in Asia, Australia, China, Hong Kong, Singapore and the US in the 2007 Euromoney Liquid Real Estate Awards.

For more information on recent announcements of Macquarie Office Trust go to www.macquarie.com.au/mof

JPMorgan Asset Management is a global asset management leader providing world-class investment solutions to institutions, individuals and financial intermediaries.
The firm is responsible for over $1 trillion in assets under management (based on assets under management for the Asset Management division of JPMorgan Chase & Co. as of June 30, 2007), including $51.7 billion in real estate managed by JPMorgan Asset Management – Real Estate & Infrastructure, as of June 30, 2007. With a 37-year history of successful investing and a staff of approximately 298 professionals, JPMorgan Asset Management – Real Estate & Infrastructure identifies, analyses, negotiates, acquires, develops, redevelops, renovates, operates, maintains, finances and sells assets, on behalf of its clients. JPMorgan Asset Management’s broad investment capabilities and framework for analysing opportunities in today’s complex real estate and infrastructure markets provide critical insights for its institutional clients in both the public and private markets.

For further information
Adrian Taylor
Chief Executive Officer
Macquarie Office Trust
Ph: +61 2 8232 4224 Jill Rikard-Bell
Chief Operating Officer
Macquarie Office Trust
Ph: +61 2 8232 8538
Kylie Butcher
Head of Investor Relations
Macquarie Real Estate Capital
Ph: +61 2 8232 8516 Media Enquiries
Kerrie Lavey
Communications Manager
Macquarie Real Estate Capital
Ph: +61 2 8232 0888

This information has been prepared by Macquarie Office Management Limited ABN 75 006 765 206 (MOML) for general information purposes only, without taking into account any potential investors’ personal objectives, financial situation or needs. Before investing, you should consider your own objectives, financial situation and needs or you should obtain financial, legal and/or taxation advice.
MOML does not receive fees in respect of the general financial product advice it may provide, however it will receive fees for operating MOF which, in accordance with the MOF Constitution, are calculated by reference to the value of the assets and the performance of MOF. Entities within the Macquarie Bank Group may also receive fees for managing the assets of, and providing resources to MOF. For more detail on fees, see our latest annual report. To contact us, call 1300 365 585 (local call cost).
Past performance is not a reliable indicator of future performance.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco

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