Top 10 Tenants

Tenant Investment Grade Rating1 Country Property Type % of SLR2
FEDEX Baa2** USA Distribution 5%
GSA Aaa** USA Office 5%
AMS Ba3** UK Office 4%
Rwe Baa3* GER Office 4%
Finn Air Aaa** FIN Industrial 4%
ING A1 NETH Office 4%
Family Dollar Ba3** USA Retail 3%
Trinity Health Aa3 USA Office 3%
Harper Collins Baa2* UK Distribution 3%
Quest Baa2 USA Office 3%

* Represents Moody’s Implied Rating.
** Represents Tenant Parent Rating.

(1) Investment Grade Rating includes both actual ratings of the tenant or Implied Investment Grade. Implied Investment Grade includes ratings of tenant parent (regardless of weather the parent has guaranteed the tenant’s obligation under the lease) or lease guarantor. Implied Investment Grade ratings are determined using proprietary Moody’s analytical tool, which compares the risk metrics of the non-rated company to those of a company with an actual rating. Ratings information is as of March 31, 2017.

(2) Metric based on SLR. Weighted by annualized SLR converted from local currency into USD as of March 31, 2017 for the in-place lease on the property on a straight-line basis, which includes tenant concessions such as free rent, as applicable.