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News release

HOLLYWOOD, CA

J.H. Snyder Company to Develop Office Campus in Hollywood, Calif.

Iconic developer currently has three projects underway in Los Angeles


HOLLYWOOD, CALIF, March 4, 2014 — Continuing its legacy as Los Angeles' premier developer, J.H. Snyder Company has started construction on 959 Seward, a two-building creative office campus encompassing approximately 245,000 square feet of space in Hollywood, Calif.  Completion is scheduled for first quarter of 2016.

959 Seward will offer availability for users ranging from 5,000 square feet to an entire floor of 36,000 square feet of contiguous space.  The building is also able for a single user to lease the entire building.  Leading the marketing effort for 959 Seward are Jones Lang LaSalle Los Angeles team members Patrick Church and Anneke Greco.

"Hollywood is undergoing a transformation with an entrepreneurial spirit of new businesses, job growth and a new wave of professionals," said Jerry Snyder, Founder and Senior Partner at J.H. Snyder Company. "959 Seward will provide creative companies the opportunity to be entrenched in a creative environment in the preferred tech and entertainment corridor."

959 Seward is ideally located at the corner of Seward Street and Romaine Street, directly across from Hollywood Center Studios.  Designed by Ware Malcomb, the premiere office campus features two state-of-the art glass buildings offering an unrivaled customized work environment with open, green outdoor spaces. 

The common areas will include a restaurant, fitness center, outdoor event space, screening room, bike storage and parking garage to allow for 3.2/1000. 959 Seward is situated within minutes of numerous Hollywood studios, world famous venues, luxury residences and hotels.  It is also within walking distance of six of top restaurants in Los Angeles including Rao's, Providence, Pizzeria Mozza, Osteria Mozza, Hatfield's and Trois Mec.

The Multi-Employer Property Trust (MEPT), a $5.1 billion real estate investment fund advised by Bentall Kennedy, will provide a $95 million participating loan to an LLC affiliated with J.H. Snyder Company.  

“Our work with JH Snyder Company on both 959 Seward and The Vermont continues MEPT’s focus on investing in high quality, sustainable assets and development projects,” commented David Antonelli, Bentall Kennedy Executive Vice President and MEPT Portfolio Manager. “959 Seward will benefit from recent infrastructure investment that has made Hollywood once again a vibrant live-work-play environment with strong demand for this anticipated LEED Silver Class A office campus.”

With the addition of 959 Seward, J.H. Snyder Company now has three landmark projects underway or in the planning stages.  Located at the southeast corner of Wilshire Boulevard and Vermont Avenue, The Vermont is a 464-unit high-rise apartment community featuring retail space and dedicated public open space along Wilshire Boulevard.  Completion on The Vermont is scheduled for Spring 2014; MEPT also provided a mezzanine loan for that project.  Additionally, J.H. Snyder is in the planning stages to construct a 13-story, 254,000-square-foot building at the campus of Museum Square in Los Angeles.

About JLL
JLL (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4 billion, JLL operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.com.

About J.H. Snyder
Currently a $1.5 billion enterprise, the J.H. Snyder Company has built more than 41,000 residential units, four million square feet of office space and more than two million square feet of retail development in its nearly 60 years of operation. As one of the nation’s leading builders and innovators the J.H. Snyder Company is consistently involved in signature developments that define and change Southern California communities for the better.  For more information, visit www.jhsnyder.net.

About Multi-Employer Property Trust (MEPT)
MEPT is a $5.1 billion, open-end commingled real estate equity fund advised by Bentall Kennedy (U.S.) LP. Founded in 1982, the Fund invests in a diversified portfolio of institutional-quality real estate assets in 27 major metropolitan markets across the U.S. MEPT is owned by approximately 320 multi-employer and public employee pension plans. A recognized leader in responsible property investing, MEPT has been consistently top-ranked in the U.S. by GRESB for its environmental performance. Landon Butler & Company, LP® (www.lbutler.com) of Washington, D.C. provides investor relations and marketing services to MEPT. NewTower Trust Company (www.newtowertrust.com) of Bethesda, Maryland serves as MEPT’s trustee.

About Bentall Kennedy
Bentall Kennedy is one of North America’s largest real estate investment advisors and one of its foremost providers of real estate services. Bentall Kennedy serves the interests of more than 500 institutional clients across 140 million square feet of office, retail, industrial, hotel, and apartment properties totalling more than $32 billion throughout Canada and U.S. Bentall Kennedy has a 100-year track record of delivering superior returns and a reputation for integrity, innovation and creating value. For more information, visit www.bentallkennedy.com.