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News Release

Warsaw

Jones Lang LaSalle advised Deutsche Bank in a renegotiation process


Warsaw, 12th May 2010 – Jones Lang LaSalle is pleased to announce that the process of renegotiating Deutsche Bank’s lease agreement in the Focus Building in Warsaw is finalised. The Polish headquarters of Deutsche Bank, a leading global investment bank with a strong and profitable private clients business in Poland, occupies 10,000 sq m in this modern office building located on
Al. Armii Ludowej.

Jones Lang LaSalle’s Tenant Representation acted as Deutsche Bank’s real estate advisor. The firm provided advice regarding long term strategic scenarios and conducted a detailed market search to identify alternative solutions available on the property market. Julita Spychalska, Head of Tenant Representation at Jones Lang LaSalle comments: “This transaction proves that the most crucial aspect is time when analysing real estate strategy; this should take place in advance - at least 2 years – before any lease expiry. Such approach provides enough time to analyse all scenarios and allows tenants to secure not only competitive financial terms and a flexible lease agreement, but also enables adjustments to the property to meet the tenant’s needs across a wider spectrum”.

Agnieszka Karwacka, Country Head of Deutsche Bank’s Polish CRES and GS operations adds: “We are very pleased with the outcome of the negotiation process. Our current headquarter location is one of the best in Warsaw and we were quite determined to keep our tenancy at the Focus Building, but not at any price. The bank has dynamically developed its Polish operations in the past years leading to an increase in the office space dedicated to growing central departments. Thus it has been an important issue to renegotiate our lease agreements taking into consideration, that the bank is the biggest tenant at the location. Cooperation with Jones Lang LaSalle’s Tenant Representation has not only enabled us to renegotiate the conditions in the new circumstances, but at the same time made it possible to assess all other alternatives available on the Warsaw’s office space market.”