OUR PORTFOLIO

Our portfolio is diversified by tenant, property type, industry and geography, and has an average remaining lease term in excess of 10 years. Our portfolio’s highlights include credit quality of tenants, diversification, duration of leases and net lease structure.

Portfolio Overview

Properties: 87

Square Footage: 2.11 Million

Occupancy: 100%

Average Remaining Lease Term1: 11 years2

Investment Grade Tenancy3: 41%

Number of Tenants: 39

Number of States: 29

Number of Industries: 29

Average property age: 11 years4

Annualized Base Rent $24.4 million

Leverage: 44%

1 Weighted by ABR.

2 Excludes the company’s property in Lebanon, IN that is leased on a month-to-month basis. Though we consolidate this property in our financial statements in accordance with GAAP, we only own 10% therein through a joint venture. On a prorata basis, this property contributes less than 1% of our prorata share of rental revenue.

3 Tenant or lease guarantor has an investment grade credit rating from a major rating agency or has an obligation that has been so rated. An investment grade credit rating refers to a published long-term credit rating of Baa3/BBB– or above from one or both of Moody’s Investors Service, Inc. and Standard & Poor’s Ratings Services. This percentage is weighted by ABR.

4 Based on the later of year built or year of last renovation and weighted by ABR.

Note: Property type composition by Base Rent.

Portfolio data as of October 2018.

Four Springs Asset Classes_Portfolio Overview Pie Graph

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