Curating Best-in-Class Portfolio
REALTY
Historically Stable Cash Flows Supported by High-Quality Real Estate Portfolio
Industry-Leading Occupancy Levels,
Consistent During Various Economic Cycles
0
O Historical Median
Median of S&P 500 REITS (1)
----S&P 500 REIT Historical Median
CONSISTENCY BY DESIGN:
99.5%
98.4%
98.2%
97.7%
97.7%
98.1% 97.9%
98.5% 98.7%
97.9%
98.2% 98.4% 98.4% 98.3% 98.4% 98.6% 98.6% 97.9%
98.9%
98.5%
97.0% 96.8%
96.6%
96.7% 97.2%
98.2%
Careful underwriting at acquisition
Long initial lease term
94.0%
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q2
2022
MAXIMIZING REAL ESTATE VALUE:
Strategic management of rollovers
Proactively addressing portfolio "watch list"
Resolved over 4,500 lease expirations since 1996
Weighted average lease
term of 8.8 years
INCOME
Strong underlying real estate quality
Strategy of owning "mission critical" locations
Diversified client industries with strong fundamentals
Prudent disposition activity
Lease Expiration Schedule Provides Visibility
into Future Cash Flows
8.5%
4.4%
5.1%
6.4%
7.8%
5.9%
7.2%
5.5%
0.6%
2022
(1) Based on the publicly available information as of 6/30/22. Excludes the S&P 500 non-property REITs.
Occupancy calculated by number of properties. Lease expiration schedule represents percentage of total portfolio annualized contractual rent.
48.6%
2023
2024
2025
2026
2027
2028
2029
2030
2031-2046
42
42View entire presentation