Coliseum Centre
Office Park
Situational Office Acquisition
Acquired February 2020
89% leased, ~510k SF
Three 6-story office buildings
Established Submarket
Submarket driven by the Charlotte Airport
Closed at ~$102M / ~$199/SF
Majority of existing rents below market value
Weighted average lease term of 5.2 years
submarket seeing significant expansion
Best-in-class asset
In-place rents ~20% below market
diverse tenant base
Brought a 25k SF “tenant in tow”, bringing occupancy to 92%
Conservative balance sheet debt (~64% LTV) provided by Brookfield Asset Management