OCTOBER 12, 2016

ASB Closes Meridian Fund II, Raising $171 Million

WASHINGTON, DC – ASB Real Estate Investments (ASB) has executed its final close for the ASB Meridian Real Estate Fund, II, the second in its series of low-leverage value creation closed-end funds, the company announced today. Following on the heels of Meridian Fund I, which closed in 2010 and liquidated its final asset in 2015, ASB has raised $171 million for Meridian Fund II. Since 2004, ASB as a firm has invested $2.1 billion in 41 value-creation investments.

Jim Darcey, Portfolio Manager for ASB’s Meridian Funds, said: “ASB has a history of seeking value creation opportunities in ASB’s targeted ‘growth-engine’ urban/infill submarkets, primarily in the nation’s leading 24-hour gateway cities. Meridian Fund II positions ASB to continue its tradition of investing in these markets. We thank our investors and their consultants for their support in helping us reach our capital goal for Meridian Fund II.”

About ASB Real Estate Investments
ASB Real Estate investments (ASB), a division of ASB Capital Management, LLC, is a leading U.S. real estate investment management firm, managing $6.8 billion* in gross assets under management for over 360 institutional clients. Headquartered in Washington DC, ASB invests in major urban markets across the country, concentrating in office, multifamily, retail and industrial properties. ASB manages the ASB Allegiance Real Estate Fund, its sole vehicle for core investing; the ASB Meridian Real Estate Funds, a series of low-leverage value creation vehicles; and a development separate account.

* as of September 30, 2016

The information provided in the release does not constitute an offer to sell or buy securities or the solicitation of an offer to sell or buy securities.