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BRUSSELS-Houlihan Rovers SA, a locally based global real estate securities asset manager is now half-owned by Cohen & Steers Inc., the New York based REIT manager announced Tuesday afternoon. The acquisition price was not disclosed and not otherwise immediately available. Houlihan Rovers had approximately $500 million in assets under management as of October 31, 2004. As part of the transaction, both Cohen and Steers are now members of the Houlihan’s board of directors. “A worldwide presence in real estate securities markets provides our company a new avenue for growth,” says Martin Cohen, co-chairman and co-chief executive officer of Cohen & Steers with Robert Steers. Indeed, Cohen says the company expects to launch several new global and non-U.S. real estate securities initiatives in 2005. Houlihan managing director Joseph Houlihan says that Europe and certain Asia-Pacific markets today “are very similar to what the U.S. REIT market was like in the 1980s,” when Cohen and Steers launched the first REIT mutual fund in United States. “Our knowledge of global real estate securities markets combined with … Cohen & Steers resources will create a strong platform for expansion,” says Houlihan.

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