LEEDing the Charge: Downtown Seattles 901 Fifth Avenue Building Achieves LEED-EB SilverTM Certification

RREEF Real Estate and Kennedy Wilson today announced that 901 Fifth Avenue in Seattle, WA, a 41-story 558,607 sq. ft office tower has achieved LEED-EB™ (existing building) Silver certification. The certification marks the completion of one of the largest environmental retrofits in the industry for an existing property and Seattle’s first full city block targeting LEED certification.

The new ownership and management of Seattle’s 901 Fifth Avenue have taken groundbreaking steps to create an environmentally friendly and efficient environment for tenants and visitors. The interior of this landmark property, located by downtown Seattle’s public library, has been entirely rebuilt according to sustainable building standards, including open floor plans, eco-smart engineering, superior construction, and natural landscaping. Additional features include:

* Two new lobbies, 65-seat conference room and outdoor meeting area with Wi-Fi access
* A green roof plaza, reducing the “urban heat island” effect
* Recycling of at least 40% of tenant waste
* Energy-efficient HVAC fresh air exchange and ventilation systems, delivering up to 100% fresh air to offices
* Use of sustainable cleaning products and janitorial materials
* Water-efficient landscaping
* Energy-efficient floor-by-floor lighting control system.
* Alternatives to single-occupancy automobile use with easy access to commuter transit systems, on-site Flexcar™ and bicycle storage
* Shower area adjacent to the bicycle parking for the use of bicyclists

According to Mike Kent, a Managing Director and Head of Leasing and Property Management, Americas, RREEF Real Estate, “For the past three years, the team has worked tirelessly to refurbish 901 Fifth Avenue to achieve the coveted LEED Silver designation, a rarity for an existing building to achieve.” He added, “901 Fifth Avenue provides tenants and guests with a premier Class A sustainable building for all to enjoy, with a dramatically reduced carbon footprint. We believe that the changes we’ve made to update this property with effective energy management strategy will result in savings to our tenants and clients in addition to an improved work environment.

“In tough economic times, energy efficient buildings with their long-term positive benefits offer a clear advantage in the leasing market,” said John Prabhu, President, Kennedy Wilson Commercial Investment Group. “Clearly, achieving the LEED-EB Silver certification demonstrates that this property aims to provide tenants with reduced operating costs via energy savings, water conservation, waste reduction and smarter materials selections and helps clients meet their own carbon reduction goals.”

901 5th Avenue is owned on behalf of its institutional clients by RREEF and joint-venture partner, Kennedy Wilson. Existing tenants include, DLR Group Inc., Widevine, and Silicon Valley Bank.

RREEF Real Estate is dedicated to increasing environmental and energy sustainability throughout its portfolio of properties. To meet the needs of providing more sustainable buildings, RREEF has developed the RREEF Sustainable Building Initiative to investigate opportunities to increase a property’s sustainable and economical use of natural resources while creating healthier buildings that improve human health, a better environment and provide cost savings. As an ENERGY STAR® Partner, RREEF is committed to improving its energy efficiency and benchmarking its energy performance and currently has sustainable development projects in dozens of locations across the United States, including several which have already obtained LEED (“Leadership in Energy and Environmental Design”) certification.

RREEF’s sustainable properties in the North West includes, The Avalon, a luxury boutique hotel and spa in Portland, OR, one of only nine other hotels in the world to have achieved LEED certification and the second existing hotel building in the world to receive the U.S. Green Building Council’s (USGBC) coveted Silver rating.

Kennedy Wilson is committed to providing sustainable properties and options for office and residential tenants. In the Northwest, Kennedy Wilson completed the development of Fifth and Madison, a condominium tower designed and constructed to meet LEED Gold standards for new development which also won the NAIOP award for Urban Highrise Residential Development of the year for 2008.

www.9015thavenue.com

RREEF Alternative Investments

RREEF Alternative Investments is the global alternative investment management business of Deutsche Bank’s Asset Management division. RREEF Alternative Investments consists of three businesses: Real Estate, Infrastructure and Private Equity. Headquartered in New York, RREEF Alternative Investments employs more than 1,400 investment professionals in 18 cities around the world to help investors meet a wide range of objectives – from diversification, to preservation of capital, to long-term performance. Named one of the world’s largest alternative investments managers in Global Investor/Watson Wyatt’s Alternative Survey, June 2008, RREEF has €59.7/$83.8 billion in assets under management worldwide as of 30 September 2008.

Kennedy Wilson

Founded in 1977, Kennedy Wilson is a real estate services and investment firm with offices in 20 U.S. cities and Japan. It seeks opportunities in partnership with clients in pursuit of above-market investor returns and increased real estate values. Additional information can be obtained by accessing www.kennedywilson.com.

About Deutsche Asset Management

With approximately Euro 510 billion in assets under management globally (as of 30 September 2008), Deutsche Bank’s Asset Management division is one of the world’s leading investment management organizations, not just in size, but in quality and breadth of investment products, performance and client service. The Asset Management division provides a broad range of investment management products across the risk/return spectrum