RELATED COMPANIES JOINT VENTURE WITH UNION SQUARE EVENTS TO EXPAND PREMIERE CULINARY AND HOSPITALITY PLATFORM

Partnership will Optimize Catering, Sports, Entertainment and
Mixed-Use Opportunities to Strategically Grow the Brand

Related Companies, one of the nation’s most prominent real estate firms, and Union Square Events, the catering, culture, sports, and events business of Danny Meyer’s Union Square Hospitality Group, today announced a partnership to further expand Union Square Events’ unparalleled culinary and hospitality offerings nationally and internationally. Related has assumed a partnership stake in Union Square Events and looks forward to working with this exciting new venture to seek out select expansion initiatives. One of the projects the new collaborators are most enthusiastic about are strategic initiatives in the up-and-coming Hudson Yards on Manhattan’s West Side (also home to Union Square Events 10,000 square foot commercial kitchen space), increasing in-stadium opportunities and growing the catering and events business in core markets.

Stephen M. Ross, Chairman and CEO of Related Companies said, “Related and Union Square Events share a customer-focused culture and are known for their commitment to service, innovation and great design. Union Square Events has an extraordinary management team and a clearly articulated growth strategy making them an ideal partner for Related. We look forward to fully integrating their experiential concepts into Hudson Yards and expanding the business through strategic opportunities in sports, entertainment and mixed-use developments both nationally and internationally.”

Hudson Yards is a 26-acre mixed-use development accommodating over 13 million square feet of commercial and residential space. The master plan comprises approximately 5,000 residences, 6 million square feet of state-of-the-art commercial office space, a 1 million square foot destination retail center with an over 130,000 square foot two-level space of specialty destination restaurants, cafes, markets and bars, a five star hotel, a unique cultural space, and a new 750-seat school, all carefully planned around 14 acres of public open space. Union Square Events is expected to program a number of the spaces at Hudson Yards featuring dynamic culinary and hospitality offerings such as private dining spaces for tenants, unique signature events, catered affairs, new eateries, and open-air cafés, making great use of its location abutting the Hudson River with breathtaking views.

Danny Meyer, CEO of Union Square Hospitality Group said, “In just seven years Union Square Events has established itself as a major league hospitality player in the worlds of fine catering, major events, and premium foodservice for sports venues. I’m so proud of the sterling reputation our team has earned, and partnering with Related provides an extraordinary opportunity for Union Square Events to parlay the fantastic foundation we’ve built into something quite significant. We’ve long known and admired the leaders at Related, and beyond the remarkable venues that will now become possible to explore, our companies share cultures of caring for guests and a relentless drive to excel. We love the irony that USE was born seven years ago as ‘Hudson Yards Catering’ – and now one of our greatest opportunities to grow will be in Hudson Yards.”

In addition to being one of the premiere catering operations in and around New York, Union Square Events develops and operates premium culinary solutions for sports venues and cultural institutions across the Northeast including El Verano Taquería , Box Frites and USHG brand outposts Shake Shack and Blue Smoke at the Mets’ Citi Field in Queens, NY, Nationals Park in Washington, D.C., Saratoga Race Course in Saratoga Springs, NY as well as seasonal open-air café Public Fare at Central Park’s Delacorte Theater, home to The Public’s Shakespeare in the Park. Union Square Events is also a leading large-scale event producer utilizing its deep talent base of chefs and managers to execute unique guest experiences; from the Big Apple Barbecue Block Party celebrating its 10th Anniversary this year, to working with other innovative event producers to create wonderfully memorable dining experiences such as the CNN Grill, the 2011 NYRR ING Marathon, and Veuve Clicquot’s 2011 Polo Classic on Governor’s Island. Union Square Events is also the exclusive caterer for the soon-to-open Conrad New York’s meetings, conferences and events spaces in Battery Park City.

Kenneth A. Himmel, President and CEO of Related Urban, Related’s mixed-use division said, “Danny Meyer and his partners have been leaders in the design and operation of catering, sports facilities, entertainment venues and large-scale special events and we saw tremendous opportunity to grow the brand in select markets in which we operate while maintaining the unparalleled culinary and hospitality-based points of distinction.”

Jeff Flug, President of Union Square Hospitality Group said, “There are strong synergies between USHG and Related, not the least of which is their long history of partnering with world class chefs and restaurateurs We were attracted to Related’s experience and depth of expertise as an industry leader in the development of mixed-use projects. Related will provide valuable strategic insight and opportunities that will undoubtedly help facilitate the continued growth of the company. We are excited to work with a partner that shares a culture of hospitality.”

Founded 39 years ago, Related Companies is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, fund management, marketing and sales. Related and its principals have a long history of partnering with world class chefs and restaurateurs including such celebrated industry leaders as Thomas Keller, Michael Lomonaco and Marlon Abela. These partnerships extend well beyond the traditional real estate transaction and include collaborations on the ownership and operating side of the business. Related custom curated the Restaurant and Bar Collection at Time Warner Center, one of the most widely acclaimed and recognized restaurant destination in New York City. The Company’s existing portfolio of real estate assets, valued at over $15 billion, is made up of best-in-class mixed-use, residential, retail, office, trade show and affordable properties in premier high-barrier-to-entry markets. With offices and major developments in Boston, Chicago, Los Angeles, Las Vegas, San Francisco and South Florida, Related is well-known for having developed the 2.8 million square foot Time Warner Center in New York City and the 72-acre CityPlace in West Palm Beach as well as being a leader in green building.

Best known for its unique blend of excellent food and warm hospitality, Danny Meyer’s Union Square Hospitality Group (USHG) includes some of New York City's most beloved restaurants: Union Square Cafe, Gramercy Tavern, Blue Smoke, Jazz Standard, Shake Shack, The Modern, Cafe 2 and Terrace 5 (located at the Museum of Modern Art), Maialino, Untitled at the Whitney, and North End Grill. Other innovative and growing businesses from USHG include the catering, culture, sports and events company, Union Square Events, and Hospitality Quotient, a consulting and learning business focusing on better work environments and deeper customer relationships across industries. Actively involved in the community, USHG and its employees are committed to extending its enlightened hospitality beyond the walls of its restaurants and support an array of hunger relief organizations including Share Our Strength and City Harvest and civic organizations such as NYC & Company, Union Square Partnership, and the Madison Square Park Conservancy. Meyer, his restaurants, and chefs have earned an unprecedented 24 James Beard Awards, as well as numerous other media accolades. Our restaurants have consistently appeared on Zagat’s Most Popular list, with Union Square Cafe and Gramercy Tavern perennially appearing among the top five restaurants in New York City.

For more information on Related, please visit www.related.com.