Investment Grade Portfolio Acquisition

   

Portfolio Description

The predominantly single-tenant office portfolio consists of 18 assets encompassing approximately 4 million square feet, triple-net leased to many of America’s most prestigious and iconic companies that are Fortune 500 ranked. Over 80%* of the rentable space is leased to investment grade tenants, guarantors, or tenants whose non-guarantor parent companies have investment grade ratings1, such as Coca-Cola Refreshments USA, JP Morgan Chase, General Electric Company, Wells Fargo Bank, Aetna Life Insurance Company, IBM and United HealthCare Services. Geographically diversified, the portfolio spans across 12 major U.S. markets in over 11 states.

*The total percentage of rent paid is the sum of 57.9% Tenant, 6.5% Guarantor and 19.1% Parent.

Property Name

Tenant (or Parent)
Credit Rating
Fortune 500 Ranking
As of 11/5/13

Location

Business Essential Components

Coca-Cola Refreshments USA
Regional Headquarters
• Coca-Cola Refreshments USA (The Coca-Cola Company)
• S&P: AA-; Fortune 500: 57
Atlanta, GA Serves as a regional headquarters for Coca-Cola Refreshments USA.
General Electric Company
Headquarters of GE Energy Management
• General Electric Company
• S&P: AA+; Fortune 500: 8
Atlanta, GA Serves as the headquarters facility and “mothership” for GE Energy Management and provides technology solutions for delivery, management, conversion and optimization of electrical power for many energy-intensive industries.
Community Insurance Company
Regional Headquarters
• Community Insurance Company (WellPoint,Inc.)
• S&P: A-; Fortune 500: 47
Cincinnati, OH Serves as the Community Insurance Company’s regional headquarters for approximately 600 on-site employees.
Express Scripts
Regional Prescription Processing Center
• Anthem Prescription Management (Express Scripts Holdings)
• S&P: BBB+; Fortune 500: 24
Cincinnati, OH Serves as a regional facility for Express Scripts handling prescription processing and home delivery.
JP Morgan Chase
Credit Card Operations Center
• JP Morgan Chase Bank NA
• S&P: A+; Fortune 500: 18
Columbus, OH Utilized as a regional Credit Card Operations call center and processing facility containing a 20,000 square foot data center for approximately 1,100 on-site employees.
IBM
Software Development Headquarters
• Sterling Commerce (IBM)
• S&P: AA-; Fortune 500: 20
Dublin, OH Serves as the Sterling Commerce headquarters, an approximately 600 employee division of IBM providing supply chain applications and integration solutions that transform business collaboration networks.
Aetna Life Insurance Company
Customer Service Center
• Aetna Life Insurance Company
• S&P: A+; Fortune 500: 84
Dallas, TX Serves as regional facility for Aetna and home to its regional customer service center.
CHRISTUS Health
Corporate Headquarters
• CHRISTUS Health
• S&P: A-
Dallas, TX Serves as corporate headquarters for CHRISTUS Health with approximately 1,000 employees on-site.
Roush Industries
High Performance Racing R&D Facility
• Roush Industries Detroit, MI Serves as the Roush primary Research & Development  facility for their high performance racing division and directly supports the adjacent Ford World Headquarters and Proving Grounds
Wells Fargo Bank
Customer Service Center
• Wells Fargo Bank, NA
• S&P: AA-; Fortune 500: 25
Milwaukee, WI Serves as the regional mortgage processing and customer care center for Wells Fargo with approximately 800 employees on-site.
Shire Pharmaceuticals
R&D/Headquarters Facility for Small Molecule Division
• Shire Pharmaceuticals Wayne, PA Serves as the regional facility that is the home for Shire Pharmaceutical’s pharma division which is part of a larger campus facility for Shire.
Comcast Corporation
Regional Customer Service Headquarters
• Comcast Corporation
• S&P: A-
• Fortune 500: 46
Seattle, WA Serves as the regional headquarters for Comcast Corporation operating 24 hours per day, seven days per week.
United HealthCare Services
Regional Customer Service Headquarters
• United HealthCare Services (United Health Group)
• S&P: A; Fortune 500: 17
St. Louis, MO Serves as the regional facility for United HealthCare’s call and sales center and medical phone consultation services. This location covers most regions throughout the US and is back up to all domestic regional locations.
One Century Place • Major Tenant: Willis North America, Inc. Headquarters
• S&P: BBB-
Nashville, TN Operates as a multi-tenant asset and is considered the headquarters for Willis Insurance, home to many c-level executives.
Northpointe Corporate Center • Honeywell Mobility & Scanning Seattle, WA The property is adjacent to Comcast Corporation.
Atlanta Wildwood • Hyundai Capital USA Regional Financial Hub
• BlueLinx Corporate Headquarters
Atlanta, GA Serves as the regional facility for Hyundai Capital to originate and service loans. And, serves as the BlueLinx corporate headquarters housing c-level executives.

Investment Grade Portfolio Acquisition

Various Locations across the United States

PROPERTY AT A GLANCE

Property Type: Office, Business Essential
Square Footage: Approximately 4 million

Number of Properties: 18
Number of States: 11
Percentage of Rent Paid by Investment Grade entities1: 83.5%*

*The total percentage of rent paid is the sum of 57.9% Tenant, 6.5% Guarantor and 19.1% Parent.

Key Tenants: Coca-Cola Refreshments USA, General Electric Company, IBM, JP Morgan Chase, Aetna Life Insurance Company and Wells Fargo Bank