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News Release

Moscow

Siemens new regional headquarters


Thursday, 10 December 2009 – Siemens Real Estate (SRE) has acquired the newly constructed Legion II Business Centre from Legion Development. The building will become Siemens' new regional headquarters in Russia.
 
A 27,994 sq m stand-alone building, Legion II is located on Bolshaya Tatarskaya Ulitsa in Moscow and is built in accordance with the highest quality class-A building standards.
 
Jones Lang LaSalle represented Siemens and Legion Development in the transaction.
 
Martin Gerke, Senior Manager - Purchase International, of Siemens Real Estate commented: "This has been a highly active project from start to finish, involving great efforts from all sides - coming together to produce a great result. Siemens is satisfied that we have completed our transaction at a good moment in the market cycle and we look forward to the opening of our new headquarters in 2010. Siemens Russia emphasizes its longterm oriented and strategic relationship to the country."
 
Charles Boudet, Managing Director of Jones Lang LaSalle, Russia & CIS, commented “We congratulate Siemens and Legion Development on the successful closure of this transaction. It is an important deal for the Moscow office market, confirming the interest of major global corporations to optimize current market opportunities and get their real estate portfolios into the right shape for the future. Such a prominent acquisition by an international owner-occupier will also help the local market to continue the positive momentum of the recent months.”
 
Kate McMurtrie, the lead Tenant Representation Director for Jones Lang LaSalle on the project said “Our Moscow team is delighted to have assisted Siemens Real Estate in selecting and negotiating the building that best meets its headquarters requirement. Legion II was chosen after an in depth search and evaluation process, with our team working in close co-operation with the SRE project team and legal advisors, CMS Cameron McKenna."
 
Alexey Kuchvalsky, National Director, Head of Office Agency, Jones Lang LaSalle, stated "I want to congratulate both Legion Development and Siemens for completing the transaction for one of the best buildings in the centre of Moscow. This shows that even in difficult market conditions excellent quality is a key element to satisfy the requirements of very demanding buyers. We at Jones Lang LaSalle sincerely hope that this deal will set a positive trend for the Moscow real estate market for 2010 and will signal the beginning of market recovery.
 
 

Siemens Real Estate, one of the leading corporate real estate companies, is responsible for Siemens’ entire real estate-related activities. As a Cross-Sector Service of Siemens AG, Siemens Real Estate manages the real estate portfolio, operates the properties and all property-related services, is responsible for the commercial exploitation of real estate and carries out all building projects throughout Siemens. This ensures optimal and sustainable use of resources in terms of cost, transparency and efficiency. In fiscal 2009, Siemens Real Estate had approximately 2,400 employees and a turnover of around 1.8 billion euros. Earnings before taxes amounted to 341 million euros. For more information, visit www.siemens.de/realestate.
 
Legion Development Ltd., was established in 2003 for implementation of major commercial realty projects and by now it has gained a valuable experience in implementation of the investment projects, concerning construction and operation of modern A-class office centers. For more information, visit www.legion-development.ru.
 
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2008 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.3 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $37 billion of assets under management.
In Russia and CIS Jones Lang LaSalle have offices in Moscow, St. Petersburg, Kiev and Almaty. Jones Lang LaSalle, Russia was voted Consultant of the Year in 2004, 2006, 2007, 2008 and 2009 at the Commercial Real Estate Awards, Moscow and Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg.
For further information, please visit our Web site, http://www.joneslanglasalle.ru