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News release

NEW YORK, NY

JLL Oversees Renovations at The Berkeley Building in New York

Firm spearheads capital improvement program at 19 West 44th Street for Deka Immobilien GmbH


NEW YORK, May 19, 2014 — Over the past 18 months, JLL spearheaded a comprehensive capital improvement program at The Berkeley Building, 19 West 44th Street, on behalf of Deka Immobilien GmbH. The building owner renovated the lobby and common corridors, modernized the elevators and upgraded the infrastructure of the 292,968-square-foot commercial office building.

The JLL team handling the property management assignment is led Matt Duthie, managing director, with Matthew Kirby-Smith serving as general manager of the building. Project management services were overseen by Michael Chionchio, managing director, along with Joseph Buxbaum and Shannon Ford. The group worked closely with Real Estate Capital Partners, which serves as the asset manager of the building for Deka Immobilien.

“This was a complex and multi-faceted capital improvement campaign designed to transform the overall efficiency and aesthetics of The Berkeley Building,” said Kirby-Smith. “We’re particularly excited about the completion of the lobby renovation and the upcoming elevator modernization. These two efforts will truly enhance the everyday experience of tenants and visitors to the building.”

The lobby renovation included the addition of a new exhibit of historic images from the early to mid-20th Century, set in glass panels, to the arcade-style lobby, as well as a new reception desk, enhanced lighting and stone finishes. The design and architectural finishes were developed by Kahn Architecture & Design P.C., with Vanguard Construction & Development Co. Inc. serving as general contractor. The elevator modernization effort, led by Nouveau Elevator Industries Inc., will involve installation of a state-of-the-art destination dispatch elevator system.

In addition to the lobby and elevator modernization efforts, JLL oversaw a number of additional capital projects that included the design and construction of six pre-built office suites, common corridor and restroom renovations, installation of a new sprinkler infrastructure riser, Local Law 11 façade project, a roof replacement and an electrical riser upgrade.

JLL was named as exclusive commercial office leasing agent, property manager and project manager at The Berkeley Building in late 2012. The office building is located at 19 West 44th Street between Fifth and Sixth avenues in Midtown, a few blocks from Bryant Park and Grand Central Terminal. Constructed in 1917, The Berkeley Building was designed by Starrett & Van Vleck.

JLL is a leader in the New York tri-state commercial real estate market, with more than 1,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2013, the New York tri-state team completed approximately 25.9 million square feet in lease transactions, arranged capital markets transactions valued at $2.1 billion, managed projects valued at nearly $7.0 billion, and oversaw a property and facilities management portfolio of 95.3 million square feet and an agency leasing portfolio of 67.0 million square feet.

About the Deka Group
DekaBank is the asset manager of the German Savings Banks Finance Group, who is one of the largest banking groups in the world. The Deka Group comprises DekaBank and its subsidiaries. With assets under management totalling approximately €170bn (as at 31 December 2013) and around four million managed securities accounts, the Deka Group ranks among Germany’s major securities service providers.

The Deka Group’s global property expertise is pooled in its Asset Management Property business division. Capital investment companies Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH manage and service fund assets in excess of 25 billion Euros (as at 31 December 2013), jointly with service company Deka Immobilien GmbH. DekaBank’s property financing department is the second key element within the business division and generates a new business volume of some 2.5 billion Euros p.a.

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 fee revenue of $4 billion, JLL has more than 200 corporate offices and 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 $48.0 billion of real estate assets under management. For further information, visit www.jll.com.