In today's uncertain times, the last thing that tenants and brokers should worry about is the credibility and financial stability of the landlord with whom they will conduct business and develop a long-term relationship. With a 75-year track record of fiscal strength and a well-deserved reputation for delivering on promises, W&H Properties offers tenants and brokers stability, flexibility and peace of mind.

Tenants and brokers can count on W&H Properties to provide the finest office space and amenities in Pre-War Trophy buildings, in Manhattan's most convenient locations, with competitive terms - all with complete assurance that ownership will deliver on its promises, time and time again. Here's why:

W&H Properties' ownership has followed a strictly disciplined approach to real estate investment, and is recognized for the hallmarks of financial stability, low leverage, and strong institutional lender relationships. W&H ownership is not long-term by mistake, but rather by choice and guided by a far reaching vision: to invest in the assets for the long-term. While many owners competed against the REITs, hedge funds, institutions and foreign entities in bidding up real estate values for much of this decade - relying heavily on easily available, high-leverage, investment bank-originated debt—W&H has maintained its property financing at conservative levels with institutional lenders with whom its supervisors, the Malkin family, have enduring, ongoing relationships.

Because capital structure is not an issue, W&H has been able to focus its energy and resources on upgrading and repositioning the superb portfolio that comprises the W&H brand: nine Manhattan Pre-War Trophy buildings, each one situated in a vital midtown neighborhood and served by an abundance of mass transit.

As a result, W&H buildings are benefiting today from an upgrade program underway totaling more than $1.5 billion, while maintaining low loan-to-value ratios on each property. Few if any other commercial property owners can demonstrate that kind of financial strength going into the troubled economy of 2009.

What does this mean to tenants and brokers? It means that regardless of where the real estate markets go in the months and years ahead, W&H can compete effectively, close deals, and meet its obligations to tenants, unburdened by crushing debt service or concerns about refinancing in constricted capital markets.

"The value of our disciplined approach has been proved again, as it has in previous real estate and economic cycles," says Anthony E. Malkin, president of W&H. "We have made our path based on four generations of experience, and avoided over-leveraging. At W&H, we're in a position of strength, able to make deals that others cannot and continuing to fulfill the promises we've made to tenants and brokers."

He cites as an example a large recently closed transaction with a prestigious new tenant with an unusual requirement: that the owner place all the tenant construction funds into an escrow account pending fulfillment of certain obligations. "This could have meant a hunt for cash or negotiation with a lender for some owners, but it was not a problem for us. The funds were readily available from our cash reserves," Mr. Malkin notes.

W&H's financial resources provide the flexibility not only to make deals, but also the ability for us to continue to pay 100% of broker commissions upon signing and to maintain the highest standards of quality throughout the W&H portfolio. "Brokers know they can count on us," says Mr.Malkin. "We are here to do business for now and for the future."