CalEast Completes CenterPoint Properties Trust Acquisition

CHICAGO, March 8  /PRNewswire/ -- The California Public Employees' Retirement System ("CalPERS") and LaSalle Investment Management ("LaSalle") announced today that through a subsidiary of their joint venture, CalEast Global Logistics ("CalEast"), they have closed on the previously announced acquisition of CenterPoint Properties Trust (NYSE:CNT) ("CenterPoint") in an all-cash transaction totaling approximately $3.4 billion.  The merger was approved by the holders of 71.8% of CenterPoint's common shares who voted at the special meeting called to approve the merger.  Under the transaction, all common shares are being acquired for $50 per share in cash.

CenterPoint's common and Series B preferred shares will be delisted from the New York Stock Exchange effective at the close of business today.

CalEast and its sister company, CalEast Industrial Investors, are leading investors in logistics warehouse and related real estate whose members include CalPERS and LaSalle.  CalEast Industrial Investors owns and operates over 15 million square feet of industrial real estate, including warehouses, light assembly, air cargo and distribution centers throughout the United States, Canada and Mexico.  LaSalle, the investment management business of Jones Lang LaSalle (NYSE:JLL), serves as the managing member of CalEast and CalEast Industrial Investors.  Since 1999, CenterPoint and CalEast Industrial Investors have partnered in a joint venture known as CenterPoint Venture LLC, which acquires, develops, manages and sells industrial property.

About LaSalle Investment Management

LaSalle Investment Management, Inc., a member of the Jones Lang LaSalle group (NYSE:JLL), is a leading global real estate investment manager with approximately $30 billion of assets under management.  LaSalle Investment Management is active across a range of real estate capital and operating markets on behalf of institutional and private investors worldwide.  For more information, visit http://www.lasalle.com/ . 

DATASOURCE: LaSalle Investment Management



CONTACT:  Kim Dobbins of Dobbins Communications, [phone]



Web site:  http://www.lasalle.com/ 

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