Lillibridge and PREI partner in $30 million equity deal

TWO FIRMS PARTNER TOGETHER ON FOURTH VENTURE

CHICAGO IL, Jul-29, 2009 - Chicago-based Lillibridge, one of the nation's largest private healthcare real estate firms, recently announced that it has received a commitment for $30 million in equity from Prudential Real Estate Investors, continuing a long-standing relationship between the two organizations.

PREI®, one of the world's leading real estate investment managers, has partnered with Lillibridge on three other equity raises in the past, and was one of Lillibridge's initial investors when the company first raised equity in April of 1999. Including this transaction, PREI's equity commitment to Lillibridge has been more than $135 million. The additional equity will be used for both future developments and acquisitions.

"We are excited to expand our long relationship with Lillibridge through our fourth venture together," said Jeff Granoff, principal of PREI's Investor's merchant banking team. "After becoming one of its first investors more than 10 years ago, their long-term approach to providing for healthcare needs, along with the strength of their management expertise, gives our investors the opportunity to participate in top-tier projects around the United States."

Lillibridge has an ownership interest in approximately 6 million square feet of healthcare real estate in 16 states. These properties include developments, repositionings, and the company's stabilized portfolio. Lillibridge has worked with more than 250 hospitals and health systems across the country.

"We've had a very strong relationship with PREI for over a decade," says Lillibridge Chairman and CEO Todd W. Lillibridge. "It's a testament to the quality of properties that we acquire and develop that we were able to secure this equity commitment in this time of very tough capital markets."