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NEWS RELEASE CONTACT: GROSVENOR HIRES TWO DEVELOPMENT EXECUTIVESMark Darley Covers West Coast; Christian Chambers Takes EastSan Francisco , CA and Washington , D.C. , May 25, 2004 — Two seasoned commercial real estate executives have taken senior-level development positions with Grosvenor. Mark S. Darley is Grosvenor's new Director of Development based in San Francisco , CA , with responsibility for managing the firm's West Coast development projects. Christian (Chris) M. Chambers is Director of Development based in Grosvenor's Washington, D.C. office, with responsibility for the firm's East Coast developments, including WesTech Business Park in Silver Spring, MD and bwtech@UMBC in Baltimore County, MD. Both executives will be seeking new development opportunities for Grosvenor, especially in the retail sector. Mr. Darley joins Grosvenor from Engel Developments, where he served as Vice President of Development, overseeing commercial and residential projects currently valued in excess of $250 million. Educated at Sheffield University , Mr. Darley also has worked with Sywest Development in California , Morrison Developments in London , and Manly International. His extensive commercial real estate development career spans some 20 years and several continents. Mr. Chambers comes to Grosvenor from Lowe Enterprises Real Estate Group of Washington , D.C. , where he served as Vice President of Development and Acquisitions. He also has served as Director of Development for Quadrangle Development Corporation and as a Project Engineer for The Clark Construction Group. He holds a B.S. degree from Cornell University and an M.S. degree from Catholic University ; he is currently working toward his M.B.A. in Finance and Real Estate at Johns Hopkins University . “We are pleased to welcome these two highly accomplished executives to Grosvenor, where they are sure to bring a new level of dynamism and vitality to our development projects on both coasts of the United States ,” said Mark Preston, President, Grosvenor. “With their expertise, Grosvenor can move forward in pursuing new retail, office, and mixed-use development opportunities in and around Washington , D.C. , San Francisco , Los Angeles , and Chicago . A good example of Grosvenor's development potential and vision is 2300 Cambie Street in Vancouver , Canada , combining up to 275,000 square feet of retail and loft residential development on an urban infill parcel.” Grosvenor ( www.grosvenor.com ) is a privately owned property development and investment group that has been active in North America for 50 years. Grosvenor's properties span metropolitan areas throughout the United States and Canada . The Company is an integral part of Grosvenor Group Holdings Limited, an international property group with operating companies in the Americas , Britain and Ireland , Continental Europe and the Australia , Asia Pacific Region. GROSVENOR 1701 PENNSYLVANIA AVENUE NW, SUITE 1050 , WASHINGTON , D.C. 20006 Telephone (202) 293-1235 Facsimile (202) 785-2632
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