Strategic Location At I-285 and Georgia 400 Intersection

    BOSTON, Oct. 21 /PRNewswire/ -- Lakeside Office Park, Atlanta, GA, has
been acquired by Beacon Properties Corporation (NYSE: BCN) from The Mutual
Life Insurance Company of New York (MONY) for $38 million.
    Strategically located in Atlanta's Central Perimeter submarket at the
intersection of I-285 and Georgia 400, Lakeside Office Park consists of
five office buildings containing a total of 391,000 square feet.  The
buildings were developed between 1972 and 1978 and refurbished over the past
three years.  Major tenants include MAPICS, Inc., HomeBanc Mortgage Corp., GE
Capital Corp. and First American Title Insurance Co. The current occupancy
rate is 92 percent.
    The acquisition of Lakeside Office Park increases Beacon's total Atlanta
portfolio to 3.7 million square feet.  Beacon entered the Atlanta market in
February, 1996, with its acquisition of the 32-building, 3.3 million square
foot Perimeter Center office complex.
    Alan M. Leventhal, president and chief executive officer of Beacon
Properties, commented: "The excellent location of Lakeside Office Park at
the intersection of I-285 and Georgia 400 makes this a very appealing
acquisition, and is a further sign of our confidence in the long-term
prospects for the Atlanta market."
    So far this year, Beacon has announced over $875 million of  acquisitions,
including:

    -- 10880 Wilshire Boulevard, Westwood, CA. 531,000 sq. ft.
    -- Sunnyvale Business Center, Sunnyvale, CA.  175,000 sq. ft.
    -- Westbrook Corporate Center, Westchester, IL. 1.1 million sq. ft.
    -- 20 North Wacker Drive, Chicago, IL. 824,000 sq. ft.
    -- 200 West Adams, Chicago, IL. 677,000 sq. ft.
    -- 225 Franklin Street, Boston, MA. 930,000 sq. ft.
    -- Centerpointe I and II, Fairfax, VA. 409,000 sq. ft.

    Announced development projects that are planned or underway include:

    -- Crosby Corporate Center, Bedford, MA.  256,000 sq. ft.
    -- 175 Wyman Street, Waltham, MA.  350,000-450,000 sq. ft
    -- The Media Center, Burbank, CA.  600,000 sq. ft. (with J.H. Snyder
       Company)
    -- Riverside Center, Newton, MA.  500,000 sq. ft.
    -- 150 California Street, San Francisco, CA.  207,000 sq. ft.

    As announced on September 15, Beacon Properties Corporation and Equity
Office Properties Trust (NYSE: EOP) have entered into a definitive agreement
and plan of merger.
    Beacon Properties Corporation, with headquarters in Boston, Massachusetts,
is one of the nation's largest real estate investment trusts (REITs).
Established in 1994 as a self-administered and self-managed REIT, the
company owns or has an interest in a portfolio of office properties located
in major metropolitan areas, including Boston, Atlanta, Chicago, Los
Angeles, San Francisco and Washington DC.  Beacon's office portfolio
currently totals 123 buildings containing 20.7 million square feet.  The
properties are approximately 97 percent leased with over 1,250 tenants.
Additional information about Beacon is available at the company's Internet
site at http://www.beaconproperties.com.
    Certain matters discussed in this press release may constitute
forward-looking statements within the meaning of the Federal securities
law.
    Although Beacon believes that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions, it can
give no assurance that its expectations will be achieved.  Factors that
could cause actual results to differ materially from Beacon's current
expectations include general economic conditions, local real estate
conditions, timely releasing of occupied square footage upon expiration,
interest rates, availability of equity and debt financing and other risks
detailed from time to time in the company's filings with the Securities and
Exchange Commission, including quarterly reports on Form 10-Q, reports on
Form 8-K and annual reports on Form 10-K.

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