Manulife US REIT - Annual Report 2021

ANNUAL REPORT 2021 45 Phipps is a 19-storey Trophy office tower constructed in 2010 by the Sponsor. It has floor-to-ceiling window walls providing tenants with views in every direction. Phipps offers various facilities to its tenants, such as a farm-to-table café, a sundry shop, a fitness centre and a conference centre. There are five levels of covered parking with 1,150 parking stalls, as well as designated electric vehicle charging stations. TOP THREE TENANTS BY GRI (%) 59.8 The William Carter Company 13.6 CoStar Group 13.5 Northwestern Mutual Phipps 3438 Peachtree Road NE, Atlanta, GA Land Tenure Freehold Building Completion 2010 Acquisition Date 22 June 2018 Purchase Price US$205.0 million (US$431 psf) WALE by NLA 6.9 years No. of Tenants 10 Gross Revenue (US$ million) Net Property Income (US$ million) 19.0 2021 11.9 2021 19.2 2020 12.4 2020 20.5 2019 13.2 2019 Lease Expiry Profile by NLA (%) 70.9 2027 & Beyond 0.0 2022 3.3 2025 0.0 2026 14.1 2024 11.7 2023 Trophy Occupancy 94.5 % Valuation US$ 216.0 M NLA 475,778 SQ FT