May 24, 2017 - Capri EGM
Institutional Quality National Headquarters build-to-suit for Comcast Corporation subject to long-term net lease
Chicago, IL – 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 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 Denver, Colorado MSA in Southeast Denver’s largest employment center near I-25 which bisects Southeast Denver and is the city’s most heavily traveled freeway connecting Colorado Springs, Denver, and Fort Collins. The facility will serve as the national headquarters for the fastest growing part of Comcast, their Business Services group, and will ultimately house over 1,400 people. Comcast currently employs approximately 6,000 people in the Southeast Denver area.
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 Comcast’s Business Services group headquarters highlights Capri EGM’s track record of success as an attractive and reliable source of long-term capital for developers and high credit 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 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 $3.4 billion as of December 31, 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