PRESS RELEASES

January 25, 2017 - Capri EGM

Capri EGM Completes Acquisition of Comcast Center for Excellence Office Build-to-Suit

Institutional Quality Class A build-to-suit for Comcast Corporation subject to long-term net lease

JANUARY, 25, 2017 /PRNewswire/ — Capri EGM, an investment company specializing in corporate sale leaseback and build-to-suit financing, and the acquisition of institutional quality single-tenant office, industrial, and retail net lease properties, announced today that it has acquired a build-to-suit office facility for a wholly-owned subsidiary of the Comcast Corporation, a publicly traded, $176.8 billion global mass media and technology company and the largest broadcasting and cable provider in the world based on revenue.

The Comcast facility is located in the Charleston, South Carolina MSA approximately 10 minutes from Charleston International Airport, in proximity to and joining other large corporate users in the area including Boeing and Daimler. Referred to as the Comcast Center for Excellence, Comcast will use this critical asset as a training facility and to serve the Carolinas with their new best of breed business and consumer offerings.

Significant Facts

  • Industry-leading Fortune 500 global mass media and technology company: Comcast Corporation (S&P: A-), the largest broadcasting and cable television company in the world by revenue, is a publicly traded, $176.8 billion global mass media and technology company with two primary businesses: Comcast Cable and NBC Universal. Comcast is currently ranked 43rd on the Fortune 500.
  • Well-designed highly functional facility: The new build-to-suit represents best-in-class design for its use and is designed to meet the efficiency and flexibility standards of today’s corporate users. This highly functional and efficient facility will serve the Carolinas with Comcast’s new best of breed business and consumer offerings.
  • Long-term net lease with built-in rent growth: The long-term net lease includes contractual annual increases and provides for future expansion. The build-to-suit site was selected by Comcast Corporation for its location, new infrastructure, attractive workforce, and strategic location in close proximity to the airport and other large corporate users including Boeing and Daimler.

Investment Management Company Comments
Shelby E. L. Pruett, Capri EGM’s Co-Chairman and Chief Executive Officer, commented: “This build-to-suit structure and acquisition of the Comcast Center for Excellence office facility highlights how Capri EGM’s ability to work with developers to structure a solution that works for all parties makes us an attractive alternative source of long-term capital for developers and creditworthy growing companies. By unlocking value through creative structuring and capital efficiency, we are committed to building long-term value for our institutional and corporate partners.  The acquisition of the build-to-suit provides Capri EGM the opportunity to invest in assets that are consistent with our established strategy, providing durable cash flows, escalating annual rents, and attractive risk‑adjusted returns over time and across a variety of market conditions and economic cycles. Coupled with the long-term lease and the financial strength of Comcast Corporation, we believe that this build-to-suit acquisition will be an attractive and a solid addition to the Capri EGM portfolio.”

Capri EGM
Capri EGM is a real estate investment manager focused on the net lease, sale-leaseback, and build-to-suit commercial markets, providing investment programs for institutional investors and capital solutions for corporations.  A venture with Capri Investment Group, Capri EGM is headquartered in Chicago, Illinois.  Since 1992, Capri and its predecessor organizations have acquired, originated, and managed over $10 billion in commercial real estate investments directly and through entity level investments.  Diversified assets managed on behalf of Capri’s pension fund and other institutional investors totaled approximately $3.71 billion as of September 30, 2016.  Please visit capri-egm.com for more information about Capri EGM.

This press release contains forward-looking statements within the meaning of the Federal securities laws. The comments of Mr. Pruett and statements regarding the acquisition of the Comcast facility, build-to-suit, or the characteristics of the property are examples of forward looking statements. This announcement does not constitute an offer to sell or a solicitation of an offer to buy any security relating to Capri EGM or any of its entities’ funds or investment vehicles. Any offer or solicitation may be made only through the delivery of a definitive Private Offering Memorandum and all information contained herein is qualified in its entirety by such Memorandum.

Capri EGM Media Contacts:
Jeff Fisher 312-805-4850
jeff@blitzgroupllc.com

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Trish Hoffman

thoffman@capri.global