Camelhead Square

HighBrook Investors and Cypress Office Properties Close 4th Acquisition in Phoenix

PHOENIX, June 24, 2016 – Cushman & Wakefield announced today that New York based HighBrook Investors (HighBrook), in partnership with San Diego based Cypress Office Properties, LLC (Cypress), has purchased Camelhead Square, located at 3033 N. 44th St. in Phoenix, for an undisclosed price. With the acquisition of Camelhead Square, the HighBrook/Cypress partnership now owns and operates five high quality office projects totaling 450,000 square feet throughout Phoenix and San Diego.

Executive Director Chris Toci, Director Chad Littell, Associate Director Chris Nord, and Senior Director Tim Whittemore with Cushman & Wakefield represented the seller in the transaction. The seller was Sun Life Assurance Company of Canada.

Camelhead Square is a three-story, Class A office building situated on 4.9 net acres totaling 100,314 rentable square feet. “Located in the 44th Street Corridor office submarket, the property is well-positioned to capture tenants migrating from adjacent office submarkets as Class A rental rates push to the mid $30s along Camelback Road,” according to Chris Toci.

Constructed in 1985, Camelhead Square was designed for maximum tenant versatility. The U-shaped building footprint provides tenant friendly floor plans of approximately 34,000 square feet each. In 2011, the property went under a comprehensive renovation, in addition to further common area upgrades in 2015. The buyer plans to further upgrade the interior and exterior common areas.

Prominently located along 44th Street, Camelhead Square has approximately 330-feet of frontage. Superbly positioned, the property is minutes from the amenity-laden areas of the Camelback Corridor and Downtown Scottsdale featuring some of the most upscale residential, shopping, entertainment and dining options within Phoenix.

“Strategically located less than three miles north of Phoenix Sky Harbor International Airport, the property provides its tenants close proximity to executive housing communities and attractive shopping destinations,” said Chad Littell.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

About Sun Life Insurance Company

Sun Life Financial, Inc. is a Canada-based financial services company known primarily as a life insurance company. It is one of the largest life insurance companies in the world, and also one of the oldest with the history spanning back to 1865. Sun Life Financial provides a wide range of insurance and investment products and services in key markets around the world including Canada, the United States, the United Kingdom, Hong Kong, the Philippines and Indonesia. At Sun Life, they have more than 15,000 employees and 12,000 advisors. Sun Life Financial has a strong presence in investment management with over CAD$734 billion in assets under management operating in a number of countries. Sun Life ranks number 236 on the Forbes Global 2000 list for 2010 as well as on the Fortune 500 list. To learn more, visit www.sunlife.com.

About HighBrook

HighBrook Investors (“HighBrook”) is a New York based real estate private equity firm that was founded in 2010 as a unique entity bringing to bear the best practices from both the private equity and hedge fund industries. As a value-oriented investor, HighBrook Investors acquires and actively manages previously underperforming income-producing property investments on a national basis. The firm specializes in recapitalizing properties that are encumbered by complicated financial structures, in transactions that typically require speed, flexibility and substantial capital infusions. As an entrepreneurial and well-capitalized organization, HighBrook Investors is uniquely positioned in the marketplace. For further information on HighBrook Investors, please visit our website at www.highbrookinvestors.com.

About Cypress

Cypress Office Properties, LLC (“Cypress”) is a San Diego based real estate investment and operating company that specializes in acquisitions and asset management of value-add, core plus, and redevelopment office properties in key markets within the Southwest United States. The company’s primary geographic focus is Southern California and Phoenix, where there is tremendous upside potential. As a sponsor/operating partner, Cypress seeks joint venture relationships with institutional capital partners that are pursuing value-add and core plus investments and returns. Since its founding in 2009, Cypress has become a qualified and proven investor within these markets – well positioned to identify, purchase and operate office properties that meet its strategic investment criteria. Please visit our website at www.cypressoffice.com.