Manulife US REIT - Annual Report 2021

MANULIFE US REIT 42 Park Place 1650 & 1700 South Price Road, Chandler, AZ NLA 274,700 SQ FT Occupancy 100.0 % Valuation US$ 106.9 M Park Place office campus in Chandler, Phoenix consists of two Class A office buildings. Completed in 2019, the property offers abundant natural light, high finished ceiling heights, an efficient and flexible floor plate that can accommodate different tenant requirements, a three-storey lobby atrium, a conference centre, courtyard, outdoor gathering area and adequate parking. TOP THREE TENANTS BY GRI (%) 52.8 Voya Services Company 31.9 Toyota Motor Credit Corp 15.3 Fresenius Management Services Land Tenure Freehold Building Completion 2019 Acquisition Date 17 December 2021 Purchase Price 2 US$106.0 million (US$386 psf) WALE by NLA 7.9 years No. of Tenants 3 Seller CAZ 5 DE LLC Lease Expiry Profile by NLA (%) 0.0 2025 0.0 2026 100.0 2027 & Beyond 0.0 2024 0.0 2023 0.0 2022 Class A Portfolio Overview Gross Revenue (US$ million) Net Property Income (US$ million) 2021 1 2021 1 0.3 0.2 1 The acquisition was completed on 17 December 2021. 2 Acquired from CAZ 5 DE LLC, Park Place’s valuation was US$106.9 million as announced on 30 November 2021. JLL had valued the property based on the income capitalisation approach and the sales comparison approach. The income capitalisation approach consisted of a discounted cash flow analysis and direct capitalisation method.