[ 11.28.2005 ]

PHILADELPHIA, PENNSYLVANIA - Aegis Property Group is pleased to announce that its Project Management Group has been retained by Health and Retirement Properties Trust (HRPT) to manage a complete renovation of its Centre Square lobby located in Philadelphia's central business district.

Centre Square contains two high rise office towers with nearly 3.6 million rentable square feet and is easily recognized by the famous Claes Oldenburg Clothespin sculpture located at the main entrance. The lobby includes several levels of well known retail and banking establishments. With underground connections to Southeastern Pennsylvania and New Jersey regional rail systems, Centre Square is a destination for thousands of commuters, tourists, visitors and tenants every day. Work on the lobby and exterior plaza is scheduled to begin in November 2005 and will take approximately 18 months to complete. Significant project team members for this project include Daroff Design & DDI Architects and IMC Construction.

HRPT is a major real estate investment trust that was founded in 1986 as a healthcare properties REIT. HRPT now owns and operates $4.8 billion of office and industrial properties with approximately 44.2 million square feet in 30 states and Washington, D.C. HRPT properties are managed by REIT Management & Research, LLC.