Barden Gale Joins J.E. Robert Companies as Chief Executive Officer

J.E. Robert Companies Appoints First New CEO In 28 Years

MCLEAN, Va., June 29 /PRNewswire-FirstCall/ -- J.E. Robert Companies (JER), a
global commercial real estate investment management company, announced today
that Barden Gale joined the firm as Chief Executive Officer. Mr. Gale joins
JER from Starwood Capital Group (Starwood), where he served as Vice Chairman
of Real Estate.

Joseph E. Robert, Jr., founder of JER and its Chairman and Chief Executive
Officer since 1981, will become Executive Chairman. As Executive Chairman,
Mr. Robert will work with Mr. Gale to add value in setting corporate strategy
and structure and in building relationships with investors and business
partners. Mr. Gale will be assuming day-to-day operations.

As Chief Executive Officer, Mr. Gale is responsible for leading the company's
strategic growth and managing its daily business operations globally. He will
begin in mid-July and be based in McLean, Virginia.

Mr. Gale is a seasoned commercial real estate investment executive and
business manager with a broad international background and significant
professional accomplishments. Prior to Starwood, he was Chief Investment
Officer for Real Estate at ABP Investment US, Inc. (ABP), the investment arm
of Stichting Pensioenfonds ABP, one of the world's largest and most
sophisticated pension funds. At ABP, Mr. Gale assembled an exceptional team
and built a leading investment platform while overseeing a global real estate
portfolio valued at more than euro 20 billion.

"Barden's 32 years of experience, exceptionally diverse real estate
background, investment expertise and track record as a manager, distinguished
him amongst the candidates. His impressive leadership qualities will be
instrumental in shaping the company and running the business," said Joseph E.
Robert, Jr. He added, "Barden is a top executive whose experience through the
various real estate cycles, combined with his international experience, makes
him a tremendous asset to JER today and in the future."

Mr. Gale has held investment banking roles at Salomon Brothers, Inc. in London
and New York and at Nesbitt Burns Securities in New York. He also served as a
principal at a real estate development company in New York and worked as a
practicing attorney.

Barden Gale said, "I am extremely pleased to be joining a renowned firm with a
history of managing through and prospering in times of adversity and
distress." He added, "JER has a solid infrastructure in debt and equity
capabilities in the United States, Europe and internationally abroad."

Last year Mr. Gale was recognized by the National Association of Real Estate
Investment Trusts, earning the prestigious 2007 Industry Achievement Award.
He is an active member of the commercial real estate community, serving as
Co-Chair of the Real Estate Investor Advisory Council of NAREIT and as a
member of the Property Investment Committee of the National Pension Reserve
Fund of Ireland. Mr. Gale is a former Board member of the Pension Real Estate
Association and is a former Board member of AFIRE.

Mr. Gale received his BA from Union College, his MA from the University of
London and his JD from Columbia University. He also serves as a member of the
Development Council of St. Hugh's College, Oxford University and on the Board
of Directors for the Shoshana Foundation, Inc.

J.E. Robert Companies (JER) is a global real estate investment management
company with more than 28 years of experience in sourcing, underwriting and
managing a broad spectrum of real estate equity investments and debt products
in the United States, Europe and Russia. A disciplined and opportunistic
buyer and seller, the company has managed a total of ten private equity funds
with $4.8 billion in equity capital commitments. Together with its financial
and operating partners, J.E. Robert Companies has purchased and managed
approximately 15,000 assets totaling $28 billion across 17 countries. The
firm also invests in CMBS, mezzanine financing and other structured debt
products. For more information, visit www.jer.com.

Contact:
Clyde Robinson Mark Chamieh
J.E. Robert Companies J.E. Robert Companies
+1-703-714-8016 +44-207-518-5364
clyde.robinson@jer.com mark.chamieh@jer.com

SOURCE J.E. Robert Companies

Clyde Robinson, +1-703-714-8016, clyde.robinson@jer.com, or Mark Chamieh,
+44-207-518-5364, mark.chamieh@jer.com, both of J.E. Robert Companies