BACKGROUND

• 24-story, 503,000 SF trophy tower built in 2001 and located on Midtown’s prestigious 14th Street

• Qualified tenants for the City’s Opportunity Zone jobs creation tax credit, which provided significant advantage over its direct competitors

Execution

• Capitalized on significant upside potential by reacquiring the property in 2013 through an off-market transaction at a time when the largest tenant was relocating, resulting in a drop in occupancy to 36%. By the end of the hold, 275,000 sf of leasing has been executed, bringing total building occupancy to 91%

• Re-branded the building as Regions Plaza and repositioned the asset to true Class A status by investing over $20MM to build out new tenant spaces & amenities including: conference center, fitness center, staffed concierge, renovated common areas and café, new FlyWheel Studio and valet parking

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