Waterman Interests, LLC Announces Strategic Venture with J.P. Morgan Asset Management on 125 West 55th Street

  Waterman Interests, LLC Announces Strategic Venture with J.P. Morgan Asset
  Management on 125 West 55th Street

 Expects to Generate Strong Returns for Trophy Midtown Manhattan Office Tower

Business Wire

NEW YORK -- April 2, 2014

Waterman Interests, LLC (“Company”), a privately-held commercial real estate
investment and operating company, announced today that it has expanded its
relationship with J.P. Morgan Asset Management to a third strategic real
estate project, 125 West 55^th Street. Waterman Interests has partnered with
J.P. Morgan Asset Management on 130 Prince Street and 400 Park Avenue. Philip
Waterman III (“Tod”), Founder and Managing Member of Waterman Interests, made
the announcement.

Located just steps off of Avenue of the Americas, 125 West 55^th Street is a
590,000 square foot trophy, 23-story office and retail building located in one
of the most prestigious locations in Midtown Manhattan. The building was
constructed in 1990 and is home to the American headquarters of Macquarie
Bank, Clear Channel Communications, Katz Media, and Milos Restaurant.
Institutional investors advised by J.P. Morgan Asset Management acquired the
property during the second quarter of 2013.

“Our entire organization is thrilled to again have the opportunity to work
with our long-time partners at J.P. Morgan Asset Management and their
investors to provide best in class service and create exceptional financial
results for all parties,” said Mr. Waterman.

Michael Keaveney, Vice President of Operations, continued, “125 West 55^th
Street provides us with another opportunity to utilize all of our core
competencies. The building is a 24/7 world-class asset with sophisticated
tenants, state of the art systems, and opportunities over time to enhance the

Tiffany Rufrano of J.P. Morgan Asset Management, added, “Our collaboration
with Waterman Interests, LLC at 125 West 55^th Street will benefit the
building given Waterman’s owner/operator expertise with similar assets. Our
expectation is that Tod Waterman and his firm will deliver the same intense
focus and results that benefited our investors on the transactions we have
done together.”

Joshua Mermelstein of Fried Frank Harris Shriver & Jacobson LLP represented
Waterman Interests, LLC.

About Waterman Interests, LLC

Waterman Interests, LLC is a privately-held and self-managed real estate
investment and operating company specializing in the acquisition, leasing,
financing, management and development of office and retail properties in New
York City. The Company is headquartered in midtown Manhattan.

About J.P. Morgan Asset Management – Global Real Assets

J.P. Morgan Asset Management – Global Real Assets has more than $71 billion in
assets under management and more than 400 professionals in the U.S., Europe
and Asia, as of December 31, 2013. With a 40-plus-year history of successful
investing, J.P. Morgan Asset Management – Global Real Assets’ broad
capabilities provide many of the world’s most sophisticated investors with a
global platform of real estate, infrastructure, maritime/transport and energy
strategies driven by local investment talent with disciplined investment
processes consistently implemented across asset types and regions.


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