DALLAS, TX--(MARKET WIRE)--Mar 28, 2008 -- Equastone, a private real estate investment firm, has signed a 98,894-square-foot lease with Children's Medical Center Dallas at Stemmons. Stemmons Place is a 20-story, 634,381-square-foot Class-A office tower situated just off the 16-lane Stemmons Freeway in Dallas and is located in the Medical/BioMedical submarket at 2777 N. Stemmons Freeway. The ten-year lease will bring occupancy in the building to over 80 percent and represents the largest lease in this submarket. Josh White, Carl Ewert and Brad Selner of Staubach represented Children's Medical Center Dallas in the transaction. Reid Caldwell, Kim Butler and Linda Simpson of Transwestern represented Equastone.

Source: Equastone
Stemmons Place (Dallas, Texas)

Bryan Marsh, Senior Vice President of Equastone said, "This is a very exciting development for our Stemmons Place project. By signing the largest lease in the Stemmons corridor in the past seven years, Children's has solidified their commitment to our property and the submarket. The lease is a testament to Equastone's management capability and our ability to put together an attractive lease package for such a fast-growing, high-quality tenant." Children's Medical Center Dallas is one of the largest pediatric healthcare providers in the nation and is the only academic healthcare facility in North Texas dedicated exclusively to the comprehensive care of children from birth to age eighteen.

Clint Harrington, Executive Vice President of Equastone said, "When we acquired Stemmons Place as part of a much larger transaction, I was personally very excited to be getting not only the best asset in the submarket but one of the best located assets as well. We are aggressively repositioning the property and I think the Children's Medical Center Dallas lease will attract even more attention to the improvements we are bringing to Stemmons Place. I am proud of my team's ability to secure such an important lease in a much more challenging economic environment."

About Equastone

Equastone is a leading real estate investment firm specializing in the acquisition and asset management of opportunistic and value-added real estate. Equastone manages investment capital on behalf of Equastone Real Estate Funds, private equity funds for high-net-worth and institutional investors.

Equastone currently owns 61 office buildings encompassing more than 9.3 million square feet throughout the United States and intends to make $1 billion of opportunistic, value-added and distressed debt investments in 2008. For more information about Equastone, call Mykel Sprinkles at (858) 812-3261 or visit www.equastone.com.

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