12RFR13 Who We Are

RFR has built a world-class portfolio of over 70 commercial, residential, hotel and retail properties in the United States and Germany totaling 11.5 million square feet. The portfolio includes the prized New York landmarked and as well as Eurotower in Frankfurt, headquarters to the European Community Bank. Our unique combination of European sophistication and American ingenuity has brought RFR to the forefront of the Real Estate industry. An experienced and cultivated team expert in acquisitions, finance, development, operations, management, leasing and sales and marketing provide RFR with the skill set to add significant value to acquired and operated properties.

Our proven track record is a reflection of adding value to real estate acquired through property-level repositioning, strategic financial engineering, and two decades of experience in all phases of property life cycles and leverage opportunities. In addition, it is our commitment to add value and enrich the quality of the built environment by creating uplifting and inspiring environments, both at the building specific and urban scales. Art is an integral component in all of our properties with the display of original art by renowned artists such as Andy Warhol, Damien Hirst, Jeff Koons, Jean-Michel Basquiat, Keith Haring to name a few. We formed the Lever House Art Collection, inviting artists to create artworks specifically for the Lever House lobby for viewing by our employees, tenants and the public to enjoy. 1 1.5 million square feet worldwide Alsterarkaden Leasing Update Hamburg Germany The 300 year old Meissen Manufactory positioned as a luxury and lifestyle group dedicated to style and quality has leased 150m2 of retail space.

Kaufmannshaus Hamburg

The final phase of the redevelopment of Kaufmannshaus located in Hamburg’s City Center next to Neuer Wall Street, Hamburg’s “,” is nearing completion. The redesigned shopping passage and atrium, retail storefronts, office building lobby and exterior building lighting are complete and tenants are in occupancy.

A new exterior walkway over the canal adjacent to the building is currently in construction. Upon completion in the spring this feature will open new opportunities for pedestrian traffic and expanded storefront exposure to the Kaufmannshaus’s stores to the surrounding area. A new 7500m2 restaurant with 18' windows overlooking one of Hamburg’s numerous canals, will act as a destination anchor for the retail space. The velocity of office and retail leasing since embarking Office Space Retail Space on the redevelopment has been 8,000m2 of New Leases 2,300m2 of New Leases WestendGate extraordinary. The 16,500m2 of office Draft FCB Guess Frankfurt space is substantially leased, and 85% Norton Rose LLP Strenesse of the 6,500m2 of retail space has Hammonia Global GmbH Atelier F The WestendGate leasing program already been leased. We anticipate Brunner & Friedrich Suit Supply has begun with much anticipation and the building will be fully leased by the Triton Sportconsulting Secret Garden excitement. Our 15th floor marketing summer of 2013. Baumgarten & Thiede Mandarina Duck showroom is receiving enormously positive feedback as well as the entire repositioning and rebranding program from the real estate community as well as our own tenants. Our leasing team which is comprised of a co- agency between RFR and GVA Arthur Goethestraße 31-33 Rubenstein Immobilienberatung is doing Frankfurt an extraordinary job in communicating the redevelopment message as well as responding to leasing interest. In RFR extended the existing lease with just a few weeks from introducing the Tod´s, the Italian designer of shoes and project to the brokerage community, leather goods, for 10 years. we are already in advanced negotiations with two tenants. From the reaction so far we are confident that we will have a successful lease-up that will satisfy our expectations. Guiollettstraße 54 Frankfurt

RFR Management GmbH recently relocated into 705 m2 of new office space in the building and signed a new tenant lease for 300m2. Seagram Building and Lever House Leasing Update New York United States The Seagram Building (375 ) and Lever House (390 Park Avenue) continue to demonstrate their allure and desirability at the top tier of the premier office market.

In 2012 approximately 150,000sf were leased with rates the highest in the City. The financial services firm Clayton Dublier and Rice renewed and expanded their space at 375 Park to 50,000sf. Third Point renewed and expanded into 32,000sf at 390 Park.

AMERICAN MASTERPIECES

Left: From Life Magazine 1958. Right: Vintage Postcard, circa 1950’s 980 Madison Repositioned 160 Fifth Avenue New York New York

RFR fully renovated and repositioned Fully Restored and 100% Leased the 23,000-square-foot third floor for RFR has completed the lease up occupancy by an exclusive group of 160 Fifth office and retail space. of high-end art galleries. The third The nine-story, 107,000-square-foot floor galleries include Yoshii, Venus property in the Flatiron District at Over , Higher Pictures and 21st Street and Fifth Avenue has been Opaque Gallery, and offer flexible actively repositioned as a Class-A museum-quality turn-key gallery boutique office address. A multi-million space for short term exhibition or dollar renovation and restoration long term gallery. program of the circa 1892 building was highlighted by a façade and Gagosian Gallery Renewed cornice restoration, new lobby, new Gagosian Gallery, located on the fourth, entrance, new elevator cabs, new fifth and sixth floors, offered a number restrooms, new HVAC systems, new

RFR_17S_NYT_v3_NYT_17S_FP 11/13/12 1:31 PM Page 1 telecommunications/electrical 17 State Street of exhibitions in 2012 at 980 Madison. infrastructure and custom-fabricated New York Currently on exhibition: Revisionist Art: OurLights Thirty Works by Bob Dylan; Cy Twombly: energy-efficient operable over-sized Are A survey of photographs 1954 – 2011; windows. The renovation also included Over 90,000sf of leasing deals were Back On. Cy Twombly: The Last Paintings. 2012 a private, fully landscaped 3,300sf signed in 2012, attracting new tenants past exhibitions include Picasso, rooftop terrace available exclusively to and creating strong momentum going Richard Prince, Mark Grotjahn, Robert tenants, and a rotating lobby art into 2013. For the second straight year, Ryman, Albert Oehlen, Damien Hirst. program featuring pieces by the Lever 275 17 State dominated the high-end House Art Collection. boutique downtown office market, New York surpassing all other existing Class-A Office Space Club Monaco Expands office buildings. Over the past 24 The Dontzin Law Firm leased 8,108sf. Tower floors at 275 Madison continue International clothing retailer Club months, 285,000sf of space was to outperform the Grand Central Monaco, which occupies ground floor transacted, with the last full floor lease Retail Space 100% Leased submarket for tenants seeking a full retail space at 160 Fifth Avenue, averaging $60.50psf. RFR completed the lease up of over floor presence. In 2012 over 67,000sf 22,000sf of luxury Madison Avenue renewed its lease and expanded its of leases were transacted. retail space in 2012 to: space to include the entire Ground Hurricane Sandy Floor and Lower Level. 17 State Street is one of the first downtown This could not have happened without the proactive leadership of the RFR Property Management team of Deloy E. Stoll, 17 State Street was one of the first office buildings to restore services after the Property Manager and Eric V. Towse, Chief Engineer, as well as Rebecca Taylor’s devastation of Hurricane Sandy. The doors RFR Corporate, Gregg A. Popkin, COO; Gerard V. Schumm, EVP; are open again, and our first tenants have Shaun A. Jacobson, Dir., RE Op; and Tom Lavin, Sr. Asset Mgr. We are grateful for the quick response and untiring 24/7 downtown office buildings to restore reoccupied the building and resumed their commitment that made this herculean effort possible in such flagship boutique. business operations. a short period of time. Simons Foundation Grows services after the devastation of 17 State Building Team RFR Service Partners Cohere Communications Telecom Platinum Maintenance Services Corp. RFR Realty Allran Electric of New York, LLC CSI Controls Power Concepts LLC Engineers French brand Sandro The Simons Foundation, a private Michael Nappo Custom Protective Services Donnelly Mechanical Pumping Solutions Robert Pulzone Metropolis Group, Inc. Endurance Insurance Queens Industrial Electric Hurricane Sandy. The doors are open Juan R. Rosa Perfect Building Maintenance (PBM) ETNA Consulting Engineers Scales Air Compressor John Muratovic Tri-Star Construction Corp. Fleet Pump Shemore Carpenters Eric Bethea Frost Temporary Generators Sidera Networks Internet charitable foundation dedicated to the Leon Alston Special Thanks HO Penn Emergency Generators System Associates Inc. Controls again, and our first tenants reoccupied Kirk Thomas Allstate Interior Demolition IESI NY Corporation Carting T&H Group, Vince contemporary clothing line Belfor Property Restoration John N. Fehlinger Co. Steam Controls Alliant Insurance Services, Inc. RFR Leasing Casey Systems Fire Alarm KONE Elevator Thornton Tomasetti Engineers Steve P. Morrows, EVP Leasing City Suburban Plumbing Mr. John Temp WCs Zurich Insurance Group advancement of mathematics and the building and resumed business AJ Camhi, VP Leasing Clermont Communication Security NYC Department of Buildings Lisa Perry’s Flagship store science, expanded onto the entire operations a little more than two weeks Our hearts and support go out to all who were affected by this mighty storm. rfr.com | seventeenstate.com | rfrspace.com Gagosian’s new 7,850sf retail second floor. after the storm. As a result of the space which is under construction damaged sustained to neighboring and scheduled to open in 2013. buildings, we have become a magnet to displaced companies looking for ready-to-move-in prebuilt office space with flexible lease terms. Stamford Portfolio Connecticut 757 Remastered New York The RFR Stamford office portfolio both executed new leases at One continued to experience strong Stamford Plaza in connection with The capital improvements and success in 2012. This success is their respective corporate relocations repositioning of 757 Third is now evident in the portfolio’s 10% vacancy from Oklahoma City, Oklahoma and complete. New leases have been signed rate, which stands in stark contrast Memphis, Tennessee. RFR also with NTT, NTT Docomo and Mizuho to the third quarter Stamford market executed significant renewal transactions companies. Leasing activity has gained vacancy rate of 24.5%. Despite choppy with Ace Insurance and Shipman & momentum and interest in full floors market conditions, the portfolio Goodwin and a 35,000sf expansion and prebuilt space is strong. We will experienced strong leasing velocity with an affiliate of WR Berkley Inc. be able to announce several additional with over 225,000sf of new and new deals in the coming weeks. renewal leases executed through The below market vacancy, high tenant November, 2012. This year the retention rate, and ability to continually portfolio was twice selected as a attract out of state tenants are indicative new headquarters location by an of the portfolio’s reputation as the out of state tenant. Tronox Incorporated premier portfolio in Stamford’s most and Intrepid Aviation Management desirable submarket. Gramercy Park Hotel Thank You Hotels New York RFR Holding GmbH wishes to thank all of our consultants and partners who helped to contribute to a successful 2012. Gramercy Terrace Repositioned The Rose Bar Sessions Thrive Gramercy Terrace was repositioned The popular Rose Bar Sessions AGN Leusmann GmbH Architekten in 2012 with a significant design continued throughout 2012 to great Kerstin Pietzsch, Eckard Harte, Alfred Hüller renovation and a further strengthening acclaim with performers from The of the GPH partnership with Danny Head and the Heart, The Heavy, The Axthelm Architekten Meyer’s Union Square Hospitality Group, Rapture, Andrew Bird, The Asteroids Annette Axthelm, Henner Rolvien which is providing food and beverage Galaxy Tour and Theophilis London. for the restaurant, bar and hotel room BK Real Estate service. Situated on the property’s Bruno Kozminski rooftop with views of the city, the Terrace is serving breakfast, lunch and BNP Paribas Real Estate GmbH Sunday brunch to hotel guests and the David Hugargowitsch welcoming Gramercy community. Gramercy Terrace had a great year for CB Richard Ellis GmbH celebrity, corporate and private parties Jens Wehmhöner, Christian-Phillipp Hass and events in an ambiance that only the Terrace can create, with food and Comfort Hamburg GmbH service that only Danny Meyer’s Group Frank Reitzig can deliver. Drees & Sommer Projektmanagement und bautechnische Beratung GmbH Frank Strauß, Roland Cuibus, Andreas Seuß, Alexandra Diehl Graham Hanson Design Celine Bouchez, Graham Hanson, Lisa Sherman, Lyz Ward, Nico Curtis Grossmann & Berger GmbH Andreas Rehberg, Lutz Winterfeldt, Sven Bechert GVA Arthur Rubinstein Immobilienberatung Arthur Rubinstein, Alexander Jungheim, Vincent Steigenberger HGM Hirsch Gebaeude-Management GmbH Reno Hirsch, Thomas Schlick, Marion Tarkocin, Peters I.T.A. UG Michael Höft Jan Klinker Architekten GmbH Jan Klinker, Morris Breuer Just/Burgeff Architekten GmbH Malte Just, Till Burgeff, Olaf Winckler Knight Frank Germany GmbH Jonas Schramm Moed de Armas & Shannon Architects Dan Shannon, Bertram Doerflier NCU Immobilien Concept GmbH Nicole C. Unger a sensuous PINCK Ingenieure Consulting GmbH Michael Scholz, Karl-Heinz Tödt, Baris Aydemir, York Wollenberg Planen & Bauen GmbH vision of Dieter Blumenschein artful diversity Paramount W South Beach New York Miami

Out of Many, One W South Beach’s Average Room The property is in the final phases Rate is among Starwood Hotel’s of an extensive repositioning that Top 3 in all North America will transform the building into The W South Beach continues to multiple distinguished venues under be the leader in its class of luxury the Paramount brand. Included is a Miami hotels, materially outperforming complete renovation of the grand other high-end hotels in average two-story lobby “living room,” all public room rate and occupancy. This spaces, food and beverage venues, strong performance has resulted in guestrooms and guestroom corridors, the property reaching Level 7 new entry marquees, storefront Starwood Preferred Guest status, and restoration and more. ranking among the top average rate performers in Starwood’s portfolio. The new offerings will include the Paramount Bar & Grill, a grab-and-go The Dutch coffee shop, as well as the creation The Dutch opened its doors at of Free & the Brave, a very cool new W South Beach in late 2011 and retail experience for travelers and continues to solidify its standing as hotel guests. one of Miami’s hottest restaurants. With award-winning chef Andrew In addition, we have assembled Carmellini, The Dutch is an American an all-star team to resurrect the style restaurant, bar and oyster spectacle of the infamous 1920’s Billy room inspired restaurant. Travel & Rose Diamond Horseshoe in the Leisure recently named The Dutch Paramount Hotel. We will marry the as one of “America’s Hottest New glamour of the Roaring Twenties to Hotel Restaurants.” the energy of today to create the most extravagant variety entertainment theater in New York. The specifics on the Paramount makeovers will be revealed shortly in their totality.

FIT corsocoffee

SPACE WestendGate—Marriott Hotel Roomers Frankfurt Frankfurt

This first class business hotel is well A triumph of sleek modern hotel design established in Frankfurt’s Landmark located in Frankfurt’s banking district, Westend district and neighboring close to the main train station, exhibition Financial district. It is situated opposite sites, and city central, this unique the main Exhibition Center in excellent boutique-style hotel was a reuse of an proximity to public transportation, existing office building. the main train station, and the largest airport in Continental Europe. Among first class comforts and amenities, the hotel boasts having Frankfurt’s largest ballroom and having a Green Building Certification including photovoltaic technology. Lever House Art Collection New York Art & Real Estate

Tenants of Lever House have been 1945 with four different silkscreens Although there was a fair amount of raving about the current installation of reassembled onto a square canvas. time from Bruce High Quality to its David Salle’s Tapestries Battles And finally, the 95 Theses and Art predecessor, anyone who was able to Allegories, installed on a series of History with Labor (Portable Museums) view Paula Hayes’ Land Mind can architectural hanging panels and scrims. included several constructed “found certainly understand why. The exotic This installation closed on January 25th items” which the Foundation assembled installation involving Hayes’ notorious but was accompanied by some of Lever together as seeming “works in use of wildlife and living plantings House’s most daring projects in 2012. progress,” as well as a large screen included everything from worldwide television whose video’s sound is wired fish in a cast acrylic custom fabricated Its predecessor, the Bruce High Quality to each “portable museum.” The video Aquarium, to tropical trees in shaped Foundation’s Art History with Labor, itself is the final statement by the artists planters of silicone or rubber, to Slug — challenged its viewers with its three researching the connection between the another custom fabricated cast acrylic works: The New Colossus, Double arts and labor and their connection — home for numerous tropical succulents. Iwo Jima and 95 Theses and Art History making reference to Martin Luther’s Accompanied by this amazing and fully with Labor (Portable Museums). With infamous “Ninety-Five Theses on the living installation was photographer the large scale bronze sculpture of a Power and Efficacy of Indulgences,” Jesse David Harris’ video of the artist’s “labor rat” in the south courtyard, the as well as the more recent Occupy process both in the studio and in symbol commonly used for unfair labor Wall Street movements throughout the the lobby of the iconic building. The complaints, the collective of artists nation. The New Colossus is still artist’s belief that “the interior landscape confronted its typical use by labeling it installed at the Lever House courtyard is to be taken very seriously and cared Fine Art. With the diptych Double Iwo and the entire installation is viewable at for with precision” came to fruition with Jima, a screen print in the footsteps of www.LeverHouseArtCollection.com, with this installation. Andy Warhol, the Foundation re-invented photographs by Jesse David Harris. the iconic Joe Rosenthal photo from www.LeverHouseArtCollection.com Digital Initiatives RFR Realty Moves to One Jackson Square What’s New 757 Third Avenue New York Newly Designed RFR.com and RFRspace.com Websites In June of this year, RFR Realty LLC This luxury residential condominium RFR launched a newly designed moved from 400 Park Avenue into was recognized with the AIA Award for corporate website, www.RFR.com. 11,035sf of swank new offices on the Excellence in Architectural Design. The website will enable prospective fifth floor at 757 Third Avenue. This investors, financial partners and move both consolidates our multiple tenants to better understand our offices and provides a better work core values, investment philosophy, environment in an RFR owned and depth of experience and strategic managed building. growth direction.

For more than two years, RFR has been refining its brand, recapitalizing its assets, strengthening its financial partnerships and hiring top-flight investment and management talent to position itself for accelerated growth in the office, hotel, retail, residential, construction, development and financial arenas. The new RFR.com website not only informs this fact, it celebrates a rebirth of our brand.

RFRspace.com is continually being improved to offer brokers real time information on our office vacancies to better serve their clients and give the tools to expedite lease deals. Most recently we have added a video tour component to provide a visual preview of a specific space from your office or mobile device. Bienenkorbhaus New Acquisitions Frankfurt

WestendGate RFR Holding GmbH recently acquired Frankfurt the historic 11,000m2 Bienenkorbhaus building, Frankfurt’s first new postwar WestendGate is one of the true space and entire property. As part of to panoramic city views, shows the office building. The building is 95% landmarks in Frankfurt. The 47 story, the repositioning program is new floor efficiency and flexibility, the occupied with a mix of office and 27,000m2 office tower and hotel is building branding and signage, redesign high-end tenant standards, new and retail uses. located in Frankfurt’s landmark Westend of the site landscaping and pedestrian improved air conditioning system District and neighboring the Financial and vehicular circulation, new street and new tenant identity program. In The main tenants in the highly attractive District. The mixed use building opposite identity with an illuminated grand entry, addition, WestendGate offers national retail space on Boulevard Zeil are the Frankfurt’s convention center also new lobby with art installation, new and international companies the flagship store for Gortz footwear and contains a 591 room hotel operated by elevator cabs, redesigned public convenience of full hotel services. Sparkasse (Frankfurt Savings Bank). Marriott and a 610 car underground corridors with redesigned tenant We have teamed with Marriott to offer parking garage. RFR Holding GmbH signage, and upgraded mechanical tenants exclusive executive services; has commenced an extensive top-to- systems. We are scheduled to complete catering, conference facilities, a fitness bottom repositioning designed by the the redevelopment program in the late and wellness center and preferred renown architecture firm, Just/Burgeff, summer of 2013. The new marketing room rates. that will maximize the value of the office showroom on the 15th floor opens 350 Madison 285 Madison Avenue New York New York

350 Madison is a 394,000 square In partnership with GreenOak Real foot Class-A boutique office property Estate (“GreenOak”), RFR is acquiring located on the southwest corner of 285 Madison Avenue, a 530,000sf Madison Avenue and 45th Street, one prewar office property located on the block from . northeast corner of Madison Avenue RFR is utilizing a targeted marketing and 40th Street. The Property was and leasing campaign to elevate the sold by the advertising firm Young & building’s profile, lease up the building Rubicam and will be delivered and capture substantial rental upside. fully vacant. In addition to the leasing program, extensive capital improvements have RFR plans to completely reposition commenced that include a new entry and re-lease the building to large canopy and building identity signage, block and full floor tenants. Acquiring lobby renovation with rotating art the Property at an attractive price exhibitions, new elevator cabs, building presents a compelling opportunity for system upgrades, and new bathrooms RFR to create value by renovating which will maximize operational and re-tenanting the entire building efficiencies and ensure an effective and offering tenant amenities that will lease-up. The leasing effort is facilitated facilitate internal office community by the building’s flexibility to offer large, interaction not found in other properties. contiguous blocks of space of nearly The opportunity to control a vacant 100,000sf as well as floors as small midtown building with a great location as 7,100sf for boutique users. Ready is extremely rare and gives RFR to move in high-end prebuilt units, 100% flexibility to renovate the asset to some with terraces, are also available. meet tenant’s specific requirements.

350 Madison formerly served as Conde RFR’s comprehensive renovation Nast’s headquarters and has served includes a new lobby and entry, as Paul Stuart’s global 77,000 square elevators, retail storefront, upgraded foot flagship retail location for more than building infrastructure and building 50 years. Upon completion, RFR will systems as well as a dedicated tenant deliver a best-in-class boutique building amenity lounge. Upon completion of which will compete at the upper echelon the strategic capital expenditure of the Grand Central subset. program, RFR will deliver a virtually brand new product in one of New York’s most desirable submarkets. www.rfr.com www.rfrspace.com

RFR USA RFR Germany

Corporate Headquarters USA Portfolio Frankfurt Office 390 Park Avenue Guiollettstraße 54 New York NY 10022 New York D-60325 Frankfurt am Main www.rfr.com 375 Park Avenue www.rfr-holding.de 390 Park Avenue New York Leasing 17 State Street Leasing Information 757 Third Avenue Steve P. Morrows 275 Madison Avenue Christian Schmitt Executive VP; Director of Leasing 285 Madison Avenue Leasing Manager 212 308 0700 350 Madison Avenue RFR Management GmbH [email protected] 980 Madison Avenue 90 Fifth Avenue Tel. +49 (0)69 / 7171299-27 Oliver Katcher 160 Fifth Avenue [email protected] Senior Vice President South 212 883 0526 300 East 64 Street Germany Portfolio [email protected] 350 West 530 Park Avenue Gramercy Park Hotel Frankfurt AJ Camhi Bienenkorbhaus Paramount Hotel Vice President Eurotower 212 509 7777 Goethestraße 31-33 [email protected] Stamford Grüneburgweg 12 1 Stamford Plaza Guiollettstraße 54 Ryan Silverman 2 Stamford Plaza Roomers Hotel Assistant Vice President 3 Stamford Plaza WestendGate 212 509 9075 4 Stamford Plaza Zeil 58-64 [email protected] 300 Atlantic Street 177 Broad Street Cantebury Green Hamburg Stamford Office Alsterarkaden 1 Stamford Plaza Kaufmannshaus Stamford CT 06901 Miami W South Beach 203 328 3600 Berlin Kurfüstendamm 188-189 Stamford Leasing Las Vegas Kurfüstendamm 224 Miracle Mile Shops Margaret Carlson Munich 203 328 3605 Siemens [email protected]

Steve Lash 203 328 3609 [email protected]