Intelligent Real Estate Investments - Hines

Mayor Emanuel and Dignitaries Break Ground on River Point in Chicago

Ivanhoé Cambridge, one of the 10 largest real estate companies in the world, and co-investor and developer Hines, announced the start of construction of River Point, a development including a 45-story office tower and a 1.5-acre public park in downtown Chicago’s West Loop. The project is being developed with land partner Larry Levy.

River Point was designed by noted architectural firm Pickard Chilton, and is being constructed at 444 West Lake Street on the western bank of the Chicago River near two commuter rail hubs and overlooking the river toward Lake Michigan. Containing approximately 900,000 square feet of leasable space, the tower is pre-certified LEED Gold.

The project will be ready for initial occupancy in 2016.

Dignitaries presiding over the Tuesday afternoon groundbreaking ceremony were:

Mayor Rahm Emanuel; Daniel Fournier, chairman of the board and chief executive officer of Ivanhoé Cambridge; C. Kevin Shannahan, CEO of Hines’ Midwest and Southeast regions; and Larry Levy, chairman of The Levy Organization.

According to Mayor Emanuel, "This is a momentous day for the City of Chicago, as this is the first office building to come out of the ground in Chicago in years.

River Point is an example of smart growth and job creation for our city, which is leading the nation in economic development, and I am proud that there is enough confidence in the city’s economic landscape for this project to come to fruition.”

“River Point will be an exceptional property, built to the highest standards of sustainability and offering tenants world-class office space,” explained Fournier.

“River Point will be a striking addition to Chicago’s skyline and the first in a new generation of office buildings.

There is significant interest from major corporate tenants,” commented Shannahan.

For more information visit the project website: chicagoriverpoint.com

About Ivanhoé Cambridge

Ivanhoé Cambridge is one of the world's 10 largest real estate companies. As at December 31, 2011, its assets totaled more than Cdn$30 billion and could be found in over 20 countries around the world. Headquartered in Montréal, Québec, Canada, the company owns more than 30 office buildings in the United States. Ivanhoé Cambridge is the real estate subsidiary of the Caisse de dépôt et placement du Québec (lacaisse.com), one of Canada's leading institutional fund managers. For further information, please visit ivanhoecambridge.com.

About Hines

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,208 properties representing more than 488 million square feet of real estate. With offices in 104 cities in 18 countries, and controlled assets valued at approximately $23.8 billion, Hines is one of the largest real estate organizations in the world. Visit hines.com for more information.