STAMFORD, Conn. and LOS ANGELES — Developing on its growth ambitions in the Western region of the U.S., GE Actual Estate (NYSE:GE) introduced the completion of its acquisition of Arden Realty, Inc. (NYSE:ARI) , the most significant publicly-traded place of work landlord in Southern California. The buy selling price of around $four.8 billion includes the assumption and refinancing of $one.6 billion of Arden’s fantastic debt. In relationship with this transaction, Trizec Qualities, Inc. (NYSE:TRZ) obtained 13 Arden attributes for around $one.6 billion. The remainder of the Arden portfolio will remain intact and go on to run as Arden Realty.

The GE and Arden leadership will leverage Arden’s premier existence and powerful relationships in the region to quickly carry out a strategic asset strategy to broaden even further into its main markets. GE will also use the Arden platform to develop considerably in other California markets, Washington and Arizona.

Just one member of GE and four customers of the Arden leadership groups have been appointed to oversee Arden:

— Joaquin de Monet, Controlling Director at GE Actual Estate, has been named President and CEO of Arden Realty.

— Robert Peddicord, previously Government Vice President, Leasing and Operations at Arden Realty, assumes the part of Chief Running Officer.

— Andres Gavinet, previously 1st Vice President and Chief Accounting Officer, has been named Chief Economical Officer.

— Howard Stern and David Swartz continue being Senior Vice President and Chief Financial commitment Officer and Senior Vice President and Standard Counsel, respectively.

“We spend in which there are outstanding chances for growth, both in asset price and portfolio dimensions. This transaction considerably expands our footprint in a sector that we think is one of the strongest markets in the U.S.,” commented Joe Parsons, President, North American Fairness at GE Actual Estate. “We will go on to assess chances to acquire top quality assets in Southern California, and search forward to Joaquin and Robert’s leadership to help us broaden Arden’s existence in the Western region.”

“GE and Arden are a dynamic drive in one of the country’s most sturdy markets,” additional Peddicord. “GE’s good fiscal backing and world means blended with Arden’s local sector abilities and fantastic performance report will enormously greatly enhance Arden’s capability to develop in the Western region of the U.S.”

The part acquired by Trizec Qualities includes 13 attributes comprising around four million square toes.

Tim Callahan, Trizec’s president and chief government officer commented, “By means of this transaction, we have obtained a big, higher-top quality portfolio that is properly situated in markets that we believe that have powerful economies, optimistic work trends and growing rental prices.” Mr. Callahan additional, “We’re pleased to have partnered with GE in the execution of this transaction.”

Merrill Lynch acted as the fiscal advisor to GE Actual Estate, and King & Spalding LLP offered authorized assistance. Lehman Brothers Inc., Wachovia Securities, and Secured Capital LLC served as fiscal advisors to Arden in this transaction. Wachovia Securities and Houlihan Lokey Howard and Zukin also rendered fairness views to Arden’s Board of Administrators. Latham & Watkins LLP and Venable LLP offered authorized counsel to the Corporation. Hogan & Hartson LLP offered authorized counsel to Trizec.

About GE Actual Estate: GE Actual Estate is a entire world leader in true estate capital. Shaped in 1972, the business has a lot more than $35 billion in main assets with 34 workplaces situated in the course of North The usa, Europe, Asia, and Australia/New Zealand. GE Actual Estate, backed by its guardian company’s AAA rating, delivers a broad array of financing, fairness and servicing alternatives which includes: intermediate and extensive-expression mortgage financing, restructuring and acquisition capital, niche fairness expense/joint ventures, capital markets securitization and placements, and assert management. As one of the fastest growing units within GE Industrial Finance, Actual Estate has knowledgeable yearly growth of a lot more than 10% for the previous ten consecutive a long time.

GE Industrial Finance delivers corporations an considerable array of fiscal products and services and goods all over the world. With around $217 billion in assets and an abilities in the mid-sector, GE Industrial Finance presents financial loans, operating leases, financing programs and innovative structured capital to help shoppers develop. GE Industrial Finance is a wholly owned subsidiary of the Standard Electrical Corporation (NYSE:GE) , a diversified products and services, engineering and production enterprise with operations all over the world.

About Arden Realty Inc.: Arden Realty, Inc. is one of the most significant place of work landlords in Southern California. Right after the near of the transaction with GE Actual Estate, Arden will have fourteen.8 million square toes comprised of 103 attributes and a hundred seventy five buildings from Ventura to San Diego counties. Arden is also a nationally recognized leader in electricity conservation and efficiency. For 3 consecutive a long time the Environmental Safety Company cited Arden as the “Industrial Actual Estate Operator of the Calendar year” for its innovative electricity initiatives and for proudly owning the most electricity efficient buildings in a single portfolio in the nation.