MINNEAPOLIS (August 20, 2009) – ASB Real Estate Investments (ASB) announced it has awarded Ryan Companies US, Inc. (Ryan) the real estate management assignment for Capella Tower, also known as 225 South Sixth Street , located in downtown Minneapolis. The leasing assignment for Capella Tower has been awarded to CB Richard Ellis (CBRE). This assignment was awarded after a competitive bid process and broadens the existing local relationship that ASB has with the team of Ryan and CBRE at the AT&T Tower in Minneapolis.   

“With a portfolio of almost 20 million square feet of institutional real estate, we rely on our trusted local partners to help create long-term value at each property,” said Robert Bellinger, President of ASB Real Estate Investments. “Minneapolis has a deep pool of talented real estate professionals and we look forward to working with the proven team of Ryan and CBRE. Both CBRE and Ryan are committed to delivering value and excellent service that will serve both us and our investors well into the future.”

Ryan’s relationship with ASB goes back nearly 20 years, when the companies partnered to build the AT&T Tower, a 33-story, 610,154-square-foot class “A” office tower in 1990. Ryan and CBRE have worked together on the AT&T Tower since the project broke ground. The largest tenant in the building, AT&T, recently extended its lease through 2018.  With the addition of Capella Tower, Ryan works on nine of ASB’s projects across the country.
The CBRE leasing team is headed by Mark McCary, a 25-year veteran of the downtown Minneapolis market. “We are extremely proud of our two-decade relationship with ASB and thank them for their continued confidence in our people and leasing platform,” said Mr. McCary, who has been involved with AT&T Tower since its inception

225 South Sixth Street is a 1.4 million-square-foot class “A” office tower in the heart of downtown Minneapolis. Completed in 1992, it was designed by Pei Cobb Freed & Partners and is arguably the most recognizable building in Minneapolis.

“We’ve been privileged to build a lasting relationship with ASB – now our largest management client – that spans decades,” said Jeff Steinke, regional director of management, Ryan Companies US, Inc. “We are pleased that ASB values us as a partner and are also excited to be working with CBRE on another ASB assignment.”

Ryan provides asset, property, leasing and facilities management services to institutional, corporate and entrepreneurial owners and users of commercial properties across the country. Ryan currently manages real estate assets valued at over $2.5 billion across 11 states and the District of Columbia. The managed portfolio of nearly 14 million square feet consists of approximately 62% office buildings, 29% industrial properties and 9% retail centers.

About Ryan Companies, US, Inc.
Ryan Companies US, Inc., a nationally recognized developer, design-builder and real estate manager, has specialized in fully integrated solutions for more than 70 years. Ryan builds lasting relationships with a project delivery model based on full-service customized solutions and total collaboration – pairing the customer’s needs and expectations with the talents of a team of developers, financiers, architects, engineers, constructors and property managers. In addition to its Minneapolis office, Ryan has offices in Chicago, Phoenix, San Diego, Tampa, Cedar Rapids, Davenport and Des Moines. Ryan was named the 2007 National Developer of the Year by the National Association of Office and Industrial Properties (NAIOP).

About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2008 revenue).  The Company has approximately 30,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis has been named a BusinessWeek 50 “best in class” company three years in a row and a Fortune 100 fastest growing company two years in a row. Please visit our Web site at www.cbre.com.

About ASB Real Estate Investments
ASB Real Estate Investments, a division of ASB Capital Management is one of the leading real estate investment management firms in the United States, with over $3.0 billion in core assets across the country.  ASB Real Estate Investments offers a solid investment track record, an experienced management team, a skilled group of local market partners, and a high-quality portfolio of diversified properties located throughout the country.  www.asbrealestate.com

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Editor’s note:     Interviews with Ryan executives are available by contacting Sarah Voigt at 612-455-1784 or svoigt@psbpr.com. Interview inquiries for CBRE should be directed to Mark McCary,
612-336-4317, mark.mccary@cbre.com