cponline.com

SECTION: NATIONAL

January 29, 2007

Furthermore: Argentina Tech Park Moves Forward; Lionstone Group Buys Former USPS Facility in Los Angeles; Hillcrest Hospital Announces $163M Expansion, Renovation Project; Institutional Shareholder Services Recommends Equity Office Shareholder to Cote in Favor of Blackstone Merger

HIGHLIGHT: The global parent company of Taurus Southern Investments L.L.C. will invest more than $100 million into the Austral Technology Park, the first development of its kind in Argentina.

Argentina Tech Park Moves Forward

The global parent company of Taurus Southern Investments L.L.C. will invest more than $100 million into the Austral Technology Park, the first development of its kind in Argentina. The park, to be located near Buenos Aires, is being developed in conjunction with Austral University. According to a Taurus spokesperson, Taurus Investment Holdings L.L.C. will invest $15 million in Phase I of the project (pictured), which will include infrastructure and four buildings measuring 30,000 square feet each. The developers are currently in the process of selecting tenants for the first phase, including high-profile chemical, communications, IT and pharmaceutical firms. Since the park is being developed as a national strategic initiative, tenant companies will be granted tax exemptions and subsidies.

Lionstone Group Buys Former USPS Facility in Los Angeles

The Lionstone Group has acquired a 392,000-square-foot industrial/office facility in West Los Angeles. The former United States Postal Service facility is located on 19.7 acres of land at 13031 W. Jefferson Boulevard on the northwest corner of Jefferson and Alla Road. Pacific Retail Partners represented the seller, Home Depot U.S.A., in the transaction. CB Richard Ellis Inc. and Lee & Associates acted as agents for the buyer.

Hillcrest Hospital Announces $163M Expansion, Renovation Project

Hillcrest Hospital, a Cleveland Clinic hospital, unveiled plans to expand the facility, making it the largest investment Cleveland Clinic has made to date in one of its nine community hospitals. The five-year, $163 million campus expansion and renovation will launch later this year. The project will include an expansion and re-design of the hospital's emergency department and level II trauma center, which will double in size. Additionally, 72 new private rooms will be added to the new patient bed tower. Other major components of the project will include state-of-the-art operating rooms and surgical services area, development of a level III neonatal intensive care unit and aesthetic enhancements to the obstetrics unit, renovations to the hospital's main bed tower and expanded parking.

Institutional Shareholder Services Recommends Equity Office Shareholders to Vote in Favor of Blackstone Merger

Equity Office Properties Trust said today that Institutional Shareholder Services Inc. has recommended for the holders of common shares of Equity Office to vote in favor of the proposal to approve a merger with affiliates of The Blackstone group for $54 in cash per common share. Equity Office will file today supplemental proxy materials related to the amendment to the merger agreement. If approved by shareholders, the transaction would be expected to close on or about Feb. 8.