CB Richard Ellis Investors, LLC Reports $2.1B in Global Acquisitions in 2002; Assets Under Management Increase 14% in 12-Month Period Ending Dec 31, 2002.

Business Editors/Real Estate Writers

LOS ANGELES--(BUSINESS WIRE)--April 3, 2003

CB Richard Ellis Investors, LLC, a global real estate investment firm headquartered in Los Angeles, today released financial details of its transaction activity for the twelve months ended December 31, 2002.

Total transactions completed by the firm, including acquisitions, dispositions and portfolio takeovers, were $3.5 billion for the period, with $1.7 billion of transactions closed in the fourth quarter alone.

CB Richard Ellis Investors, LLC executed 76 acquisition transactions totaling $2.1 billion during the 12-month period, a 73% increase over the same period in 2001. $840 million of acquisitions involved assets located in Europe and Asia.

Dispositions during the 12-month period totaled $947.5 million, with Europe and Asia comprising nearly one-third of transactions.

Portfolio takeovers totaled $526.9 million, including the takeover of a $470 million real estate portfolio for Unilever Pension Fund, based in London.

Assets under management topped $11.4 billion for the period, an increase of 14% over the prior year. Over 50% of assets under management are located in Europe and Asia-Pacific markets, and managed by the firm's offices in London, Paris, Milan and Tokyo.

"We are very pleased with the firm's ability to leverage extensive market research at the investment level to capitalize on solid real estate opportunities and varied market conditions around the globe," said Bob Zerbst, President. "We look forward to another great year in 2003 with a range of new and existing investment initiatives spanning the risk-return spectrum and three continents," Zerbst added.

About CB Richard Ellis Investors, L.L.C.:

CB Richard Ellis Investors, L.L.C., a Los Angeles-based real estate investment management firm with $12.1(a) billion in assets under management, sponsors investment programs in the U.S., Europe and Asia for institutional investors worldwide. As an independently managed subsidiary of CB Richard Ellis, CB Richard Ellis Investors harnesses the research, investment sourcing, and other resources of the world's leading real estate services organization for the benefit of its investor clients and partners. CB Richard Ellis operates in 47 countries, with approximately 9,300 employees in more than 250 offices.

CB Richard Ellis Investors' key investment initiatives include the following:

-- Strategic Partners: a series of value added investment funds 

geared to purchase, reposition, develop and sell institutional

quality real estate assets in the United States. Strategic

Partners I and II have a combined total capitalization of $1.4

billion.

-- Managed Accounts: individually tailored core investment

strategies in the U.S. and U.K. for separate account clients.

Managed Accounts dedicated teams currently manage over $3.9

billion in U.S. core separate account assets.

-- European Strategies: a variety of value added investment funds

and joint ventures in Europe, ranging from country and

sector-specific funds to Strategic Partners pan-European fund.

-- Global Innovation Partners: a joint venture between CalPERS

and CBRE Investors that targets both real estate and private

equity investments and capitalizes on opportunities created by

the convergence of technology and real estate. Investments are

made in North America and Europe. Global Innovation Partners

closed in March 2001 with $526 million of equity capital.

-- Investors 1031: an investment program designed to enable

property sellers to participate in the ownership of

institutional quality real estate while preserving their

deferred tax status. The product, 1031FORT(TM), is designed to

provide investors qualified for a tax-deferred exchange with

diversification, safety, passive oversight and liquidity.

-- Global Net Lease Partners: an investment program designed to

structure sale-leaseback transactions with public and private

corporations. The program targets office, industrial and

retail properties that are secured by long-term net leases.

-- Japan Strategies: a series of separate accounts and joint

ventures designed to capitalize on the depressed market 

conditions in Japan. Recent strategies have focused on the

simultaneous acquisition and consolidation of ownership of

high quality office and residential properties from distressed

lenders and corporate rehabilitations.

For more information about CB Richard Ellis Investors visit www.cbreinvestors.com.

Note (a): 2003 year to date