LONDON and BOSTON, December 6, 2007 -- Pembroke Real Estate Advisors today announced the acquisition of 46 Avenue Kléber in Paris. The modern, Class A office space consists of over 37,000 square feet (3,509 square meters) and is located in the sixteenth arrondissement of Paris’ Central Business District (CBD). This is the second acquisition in Paris and the fourth in Europe in the past 14 months for Pembroke and its affiliates.

An attractive, seven-floor Haussmannian-style office building, 46 Avenue Kléber is located near the Place de l’Etoile and also benefits from close proximity to commuter transportation options including the Paris subway network, major bus service and the Peripherique and Express Way. Built in 1880, the building underwent a major renovation in 2001 and includes seven floors, a basement level and six parking spaces in a private courtyard. The property is fully occupied under a series of long-term leases that extend into 2013 and beyond.

"Building on our recent acquisition of 61 Rue Monceau, 46 Avenue Kléber further demonstrates our commitment to the Paris market and to building a long-term international investment portfolio," said Johannes (Hans) Haug, senior vice president and managing director for Europe for Pembroke Real Estate. "The continued demand for office space in Central Paris along with this being a prime location on a major business avenue were just a few of the factors that made 46 Avenue Kléber an attractive long-term investment that fits within our strategy of investing in projects with enduring value."

Pembroke and its affiliates continue to expand the company’s global portfolio by identifying new properties in Paris, Stockholm, Brussels, London, Boston, Washington, D.C., and Tokyo. This includes properties such as 61 Rue Monceau in Paris, acquired in October 2007; the International Press Centre in Brussels, acquired in October 2006; a seventh London property, 3 & 10 Finsbury Square, acquired in August 2006; Tokyo’s Moto Azabu Grand Mansion, acquired in September 2007; and a second Washington, D.C. property, 1201-1225 New York Avenue, acquired in September 2006.

The property at 46 Avenue Kléber will be held by an affiliate of Pembroke. Pembroke Real Estate Advisors acted as advisor in the transaction.