ROCKROSE ACQUIRES CONTROLLING INTEREST IN 300 PARK AVENUE SOUTH

NEW YORK CITY — Rockrose Development Corp. has agreed to acquired the controlling interest in 300 Park Avenue South, a 15-story, 180,000-square-foot office building located in New York City. The owner of Rockrose, Henry Elghanayan, previously owned the property jointly with his two brothers, Tom and Fred Elghanayan, who recently branched off to form TF Cornerstone. Rockrose's immediate plans for the property included attempting to renew the property's existing leases, all of which expire at the beginning of 2011, while initiating a capital improvements program. Major tenants at the building include Interpublic, Wilhelmina Models and Rizzoli Publishing. The Cushman & Wakefield team of Andrew Peretz, John Peters and Mikael Nahimas has been retained to lease the property.