Glenborough Announces Joint Venture Acquisition of Oceanview Medical Center

San Mateo, CA, February 26, 2008: Glenborough, LLC, a San Mateo, CA real estate investment and management company specializing in office properties, is pleased to announce that, in partnership with Henderson Property Fund, it has recently acquired the 31,000 square-foot Oceanview Medical Center in San Clemente, CA.

Located at 675 Camino De Los Mares, the complex is now under the ownership of the joint venture HFP GLB Oceanview, LLC. Oceanview represents the latest step in Glenborough’s expanding profile in the Southern California marketplace. The company’s Southern California office holdings are located in Encino, Los Angeles, Irvine, Newport Beach, Laguna Hills, San Bernardino, and San Diego.

The five-story building houses a variety of medical-related tenants and offers a prime location in a major commercial/medical corridor in North San Clemente. It is located across the street from Saddleback Memorial Hospital and is easily accessed via the Santa Ana (I-5) Freeway. Oceanview offers many amenities, notably its location less than a mile from the Pacific Coast Highway, offering—as the name suggests—unobstructed ocean views over Capistrano Beach from several upper floors.

In partnership with Henderson Property Fund, an open-end fund managed by Henderson Global Investors, Glenborough completed the acquisition in late December 2007. Oceanview is the fourth property acquisition by the Henderson-Glenborough joint venture.