DECEMBER 13, 2016

ASB Venture Leases Luxury Showroom Space to Flexform

LOS ANGELES, CA – ASB Real Estate Investments announced today that Flexform, the luxury Italian furniture designer, has leased 4,200 square feet of space for its third U.S. location at 308 N. Robertson Boulevard at the corner of Beverly Boulevard in the heart of the West Hollywood International Arts and Design District. The property, part of ASB’s 300,000 square-foot portfolio of high street retail assets in Los Angeles, is owned on behalf of ASB’s Allegiance Fund, a $6.2 billion core investment vehicle. The Fund has owned the property and two adjacent retail buildings since 2013 in a joint venture with David Rifkind and Bryan Berkett.

The ASB venture is enhancing the building façade and will deliver the space to Flexform early in 2017.

Aaron Duncan, an ASB Senior Vice President and head of West Coast investments, said: “Flexform will benefit from a prominent presence along one of America’s principal upscale shopping thoroughfares near some of LA’s finest restaurants and boutiques. We are excited to provide prime retail space to this world-renowned furniture company.”

Flexform has been manufacturing in Italy since 1959, designing furniture based on timeless elegance, comfort, quality, contemporary character, beauty, and durability. The company has two other U.S. locations in San Francisco and New York.

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 with $7 billion* in gross assets under management for over 360 domestic and international 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.