Macquarie Real Estate Grows Capital Transactions Team In North America

27 March 2008

CHICAGO – March 27, 2008 – Macquarie Real Estate has appointed three highly experienced professionals to its Capital Transactions team in North America.  The new starters join the existing Capital Transactions team based in Chicago and compliment Macquarie Real Estate’s global team comprising more than 570 staff located in 31 locations across 15 counties.

Michelle LeRoy joins as Managing Director, Capital Transactions, Macquarie Real Estate Inc.  Based in New York, Ms. LeRoy will have a specialist focus on institutional investor markets and relationships for Macquarie’s Real Estate Capital – North America Division.

Eric Wurtzebach joins as Managing Director and Faris Mansour joins as Senior Vice President, Capital Transactions, Macquarie Real Estate Inc. respectively.  Based in Chicago, Mr. Wurtzebach will co-head Macquarie Real Estate’s Capital Transactions team and Mr. Mansour will assist with new business development activities.

“We are delighted to welcome Michelle, Eric and Faris to our team in the U.S.," said Ms. Kylie K. Rampa, Head of Real Estate Capital – North America, Macquarie Real Estate Inc.  Their industry experience, combined with a deep network of real estate investor relationships, will further enhance Macquarie Real Estate’s growing platform in North America.”

These appointments follow the strategic hires of Nate Stearns, Head of CMBS, and his 12-person team at Macquarie Bank Limited Representative Office.  Also in Chicago, this dedicated group of highly experienced commercial mortgage professionals source loans through relationships within the mortgage banking community, client relationships within Macquarie Group, and large institutional real estate firms.

The growth also follows Macquarie Real Estate’s sale of its remaining interest in M3 Capital Partners LLC (M3), a global real estate investment banking and advisory firm, to M3’s management team effective December 31, 2007.  The mutual decision to sell its interest in M3, formally known as Macquarie Capital Partners LLC (MCP), followed a period of successful growth and expansion for both firms, and was designed to allow each company the autonomy and flexibility to continue to grow their respective activities globally.

• Michelle LeRoy – Ms. LeRoy has over 17 years experience in real estate working with fund managers, REITs, institutional investors, owners and operators. Prior to joining Macquarie Real Estate, she was Managing Director at Bear Stearns; where she lead origination, due diligence and fund-raising efforts; Head of Investor Relations for SL Green Realty Corp.; Head of Operations at Citigroup Property Investors and Senior Manager for Ernst Young Kenneth Leventhal’s Real Estate Opportunity Funds group.  Ms. LeRoy is a Certified Public Accountant and received her Bachelor of International Economics and Finance from the University of Massachusetts, Amherst.  She attended graduate studies at UCLA and Boston University.
• Eric Wurtzebach – Mr. Wurtzebach has over 13 years of real estate corporate finance and financial advisory experience.  Prior to joining Macquarie Real Estate, he was a Director of Investment Banking at BMO Capital Markets; a Founding Partner of Silver Portal Capital; and Vice President of First Union Securities in the Real Estate Investment Banking Group.  Over the course of his career Mr. Wurtzebach has been involved in corporate and project financing transactions totaling over $7 billion dollars throughout the United States.  Mr. Wurtzebach has a Bachelor of Science in Business Administration with a major in finance and marketing from Trinity University, San Antonio, Texas.
• Faris Mansour – Mr. Mansour has over 10 years of real estate corporate finance and financial advisory experience.  Prior to joining Macquarie Real Estate, Mr. Mansour was Vice President, Real Estate, Leisure and Lodging Investment Banking at BMO Capital Markets; a Founding Partner of Silver Portal Capital; and Associate, Power and Infrastructure Investment Banking at JP Morgan Chase.  His career has focused on public and private capital raisings of debt and equity totaling over $13 billion throughout the United States.  Mr. Mansour has a Bachelor of Arts in Economics from the University of Chicago, Chicago, Illinois.

About Macquarie Group
The Macquarie Group is a diversified international provider of banking, financial, advisory and investment services, headquartered in Sydney, Australia.

Macquarie’s strategy is to expand selectively and enter markets only where its particular skills and expertise deliver real value to clients.  This approach provides the strategic flexibility to enter new sectors and regions as opportunities arise and to respond to the specialist requirements of individual markets.  As a result, Macquarie has established leading positions in a diverse range of markets.

In Australia and New Zealand, Macquarie is a market leader in investment and financial services.  In Asia, Macquarie offers a full range of investment, financial market and advisory
products and services and in Europe, the Middle East, Africa and the Americas, Macquarie focuses on particular business areas in which its expertise delivers value to clients.

Macquarie has grown substantially since its beginnings in Australia in 1969 - and more recently has reported successive years of record profits and growth since 1992.  Macquarie now employs more than 12,000 people in 25 countries.  It has been active in the Americas for more than a decade and has over 1,650 staff in 25 locations across three countries.

About Macquarie Real Estate
Macquarie Real Estate is a diverse international business, with a unique blend of real estate and financial expertise across a number of locations and products.  The business specializes in the sponsorship, establishment and management of real estate investment trusts around the world. The Macquarie Real Estate business is part of the Macquarie Group.

Approximately $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 (as at 31 December 2007).  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.

About Macquarie Real Estate Structured Finance
Macquarie Real Estate Structured Finance (RESF) is a Division of Macquarie Real Estate Group.  It originates real estate development and investment opportunities for debt and equity funding in project risk and profit sharing structures for its own account, its clients, partners and investors.  RESF has been operating in Australia for 25 years, North America for seven years and in Europe for three years.

The Macquarie Group (Macquarie) refers to Macquarie Group Limited (MGL) and its subsidiaries and affiliates worldwide (which includes Macquarie Bank Limited (MBL).  Neither MGL nor MBL is licensed to conduct banking business in the US.  MBL maintains Representative Offices in California, Illinois New York, Texas, and Washington.  With respect to matters which may be subject to US securities law, and to the extent required by such laws, MGL and its worldwide subsidiaries consult with, and act through, one of their affiliated US registered broker-dealers.   CMBS transactions are solicited on behalf of MBL and administered through MBL’s Chicago Representative Office.

Other than MBL, any Macquarie subsidiary noted on this page is not an authorized deposit-taking institution for the purposes of the Banking Act (Cwth) 1959.  That subsidiary's obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL).  MBL does not guarantee or otherwise provide assurance in respect of the obligations of that subsidiary, unless noted otherwise.

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Other than MBL, any Macquarie subsidiary noted on this page is not an authorized deposit-taking institution for the purposes of the Banking Act (Cwth) 1959.  That subsidiary's obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL).  MBL does not guarantee or otherwise provide assurance in respect of the obligations of that subsidiary, unless noted otherwise.

The Macquarie Group (Macquarie) refers to Macquarie Group Limited (MGL) and its subsidiaries and affiliates worldwide (which includes Macquarie Bank Limited (MBL).  Neither MGL nor MBL is licensed to conduct banking business in the US.  MBL maintains Representative Offices in California, Illinois New York, Texas, and Washington.  With respect to matters which may be subject to US securities law, and to the extent required by such laws, MGL and its worldwide subsidiaries consult with, and act through, one of their affiliated US registered broker-dealers.   CMBS transactions are solicited on behalf of MBL and administered through MBL’s Chicago Representative Office.