MEPT

DURING THE SECOND QUARTER, MEPT SOLD 303 SECOND STREET IN SAN FRANCISCO FOR GROSS PROCEEDS OF $237 MILLION
The two-tower, Class A, 732,000 square-foot office property located in San Francisco’s South Financial District was acquired by MEPT in 2005. Since purchasing the asset, MEPT worked diligently to market space in the building, leasing over 550,000 square feet over the last five years and achieving a 94 percent occupancy rate at the time of sale.

IN JUNE, DAVID KETO JOINED NEWTOWER TRUST COMPANY AS CHIEF OPERATING OFFICER
In his new role, Mr. Keto will work closely with NewTower’s President and CEO, Patrick Mayberry, in the general management of the bank, including business and operations management, organizational and human resource development, investment management, and external relations.

IN MAY, MEPT SOLD TWO OFFICE ASSETS, COLUMBIA CENTER I AND II, IN DETROIT FOR TOTAL GROSS PROCEEDS OF $59 MILLION.
MEPT purchased Columbia Center I and an adjacent parcel of land in 1998. In 2000, MEPT completed construction of Columbia Center II, creating over 616,000 job hours in the local community.

Patriots Plaza signs new government tenant
The government continues to flock to Patriots Plaza in Southwest, having just signed a new 58,143-square-foot lease at the site this week. The 321,502-square-foot building, completed in October, is part of a three-phase, 1 million-square-foot office complex developed and leased by Trammell Crow Co. of D.C…The owner of Patriots Plaza, Multi-Employer Property Trust, has seen gradual leasing success at the complex since its first building, Patriots Plaza I, was completed in 2005…

Columbia deal may be hopeful sign. Sale price highest since 2007; financing rare
The majority owner of the Columbia Center towers in Troy has sold its stake in the complex ...Troy-based Kirco Development Corp., developer of both towers and formerly a minority investor, bought out the majority investor…

San Francisco Office Values Begin to Crystalize
One of the upcoming sales is 303 Second St. (left), a 732,000 square-foot property 90 percent leased through the end of March. This transaction will give the San Francisco office market a benchmark for both building values and capitalization rates… There was plenty of buyer interest in the property, too; it attracted nearly 20 bids. The top seven or eight of the offers were north of $300 a square foot…


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Overview

MEPT maintains a modern, diverse portfolio with 137 assets located in 24 major metropolitan markets around the country. Click on one of the highlighted markets to see a summary of MEPT's investment activity. MEPT's investment strategy has resulted in a high-quality portfolio that has been developed through new construction or acquisition of existing assets. The portfolio is diversified by life cycle, property type, location and investment size.

Las Vegas

Number of Assets	1
Net Asset Value ($)	27,100,000
Square Footage	420,000

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