Gramercy Property Trust - FORM 8-K - EX-99.2 - EXHIBIT 99.2

Attached files

file	filename
8-K - FORM 8-K - Gramercy Property Trust	a20153318-kearningscurrent.htm
EX-99.1 - EXHIBIT 99.1 - Gramercy Property Trust	a20153318-kprex991.htm

Exhibit 99.2

CHAMBERS STREET PROPERTIES

Table of Contents



	Page
Forward-Looking Statements		2
Company Profile		3
Quarterly Highlights		4
Financial Information
Financial Highlights		5
Consolidated Balance Sheets		6
Consolidated Statements of Operations		7
Reconciliation of Net Income to FFO, Core FFO and AFFO		8
Joint Venture Information		9
Consolidated and Pro Rata Share Balance Sheets		10
Consolidated and Pro Rata Share Net Operating Income		11
Same Property Statistics		12
Property Information
Portfolio Summary		14
Acquisition and Disposition Activity		16
Our Properties		17
Geographic Distribution		21
Significant Tenants		22
Tenant Industry Profile		23
Tenant Lease Expirations		24
Percentage Leased		26
Tenant Leasing Activity		27
Capitalization
Capital Structure and Debt Maturities		28
Debt Composition		29
Consolidated Debt		30
Unconsolidated Debt		31
Definitions
Non-GAAP Supplemental Financial Measures		32

Supplemental Information | First Quarter 2015 | 1

This supplemental information is available on our website at www.ChambersStreet.com. This data is furnished to supplement audited and unaudited regulatory filings of ours and should be read in conjunction with those filings. The financial data herein is unaudited and is provided from the perspective of timeliness to assist readers of quarterly and annual financial filings. As such, data otherwise contained in future regulatory filings covering the same period may restate the data presented herein.

Forward-Looking Statements

This supplemental information may contain various "forward-looking statements." You can identify forward-looking statements by the use of forward-looking terminology such as "believes," "expects," "may," "will," "would," "could," "should," "seeks," "approximately," "intends," "plans," "projects," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases. You can also identify forward-looking statements by discussions of strategy, plans or intentions. Statements regarding the following subjects may be impacted by a number of risks and uncertainties, such as: our business strategy; our ability to obtain future financing arrangements; estimates relating to our future distributions; our understanding of our competition; market trends; projected capital expenditures; the impact of technology on our assets, operations and business; and the use of the proceeds of any offerings of securities. The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. These beliefs, assumptions and expectations are subject to risks and uncertainties and can change as a result of many possible events or factors, not all of which are known to us. If a change occurs, our business, financial condition, liquidity and results of operations may vary materially from those expressed in our forward-looking statements. You should carefully consider these risks before you make an investment decision with respect to our common shares, along with the following factors that could cause actual results to vary from our forward-looking statements, such as: general volatility of the securities markets in which we participate; national, regional and local economic climates; changes in supply and demand for office and industrial properties; adverse changes in the real estate markets, including increasing vacancy, decreasing rental revenue and increasing insurance costs; availability and credit worthiness of prospective tenants; our ability to maintain rental rates and maximize occupancy; our ability to identify and secure acquisitions; our ability to successfully manage growth or operate acquired properties; our pace of acquisitions and/or dispositions of properties; risks related to development projects (including construction delay, cost overruns or our inability to obtain necessary permits); payment of distributions from sources other than cash flows and operating activities; receiving corporate debt ratings and changes in the general interest rate environment; availability of capital (debt and equity); our ability to refinance existing indebtedness or incur additional indebtedness; our ability to comply with our debt covenants; unanticipated increases in financing and other costs, including a rise in interest rates; the actual outcome of the resolution of any conflict; material adverse actions or omissions by any of our joint venture partners; our ability to operate as a self-managed company; availability of and ability to retain our executive officers and other qualified personnel; future terrorist attacks or epidemics in the United States or abroad; the ability of our operating partnership to continue to qualify as a partnership for U.S. federal income tax purposes; our ability to continue to qualify as a REIT for U.S. federal income tax purposes; foreign currency fluctuations; changes to accounting principles, policies and guidelines applicable to REITs; legislative or regulatory changes adversely affecting REITs and the real estate business; and environmental, regulatory and/or safety requirements. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere, including the risk factors included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and other of our documents that are on file with or furnished to the SEC. Any forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, us or our business or operations. We undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. We caution you that actual outcomes and results may differ materially from what is expressed, implied or forecast by our forward-looking statements.

Credit ratings may not reflect the potential impact of risks relating to the structure or trading of our shares and are provided solely for informational purposes. Credit ratings are not recommendations to buy, sell or hold any security, and may be revised or withdrawn at any time by the issuing organization in its sole discretion. We do not undertake any obligation to maintain the ratings or to advise of any change in ratings. Each agency’s rating should be evaluated independently of any other agency’s rating. An explanation of the significance of the ratings may be obtained from each of the rating agencies.

The following discussion related to our consolidated financial statements should be read in conjunction with the financial statements for the first quarter ended March 31, 2015 included in the Form 10-Q to be filed on or about May 8, 2015.

Supplemental Information | First Quarter 2015 | 2

CHAMBERS STREET PROPERTIES

Company Profile

Chambers Street Properties is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties, leased to creditworthy tenants.

We were formed on March 30, 2004 and commenced operations in July 2004. During 2006, we became a public reporting company and through January 2012, we raised approximately $2.5 billion in gross offering proceeds. On May 21, 2013, we listed our common shares on the New York Stock Exchange under the ticker symbol "CSG."

As of March 31, 2015, we had ownership interests in 127 primarily net leased industrial (primarily warehouse/distribution) and office properties located in 19 U.S. states, France, Germany and the United Kingdom. As of March 31, 2015, our portfolio encompassed 37.6 million net rentable square feet and was 98.4% leased.



Senior Management



Martin A. Reid Interim President and Chief Executive Officer, and Chief Financial Officer	Philip L. Kianka Executive Vice President and Chief Operating Officer

Christopher B. Allen Executive Vice President, Capital Markets and Finance	Hugh S. O'Beirne, Esq. Executive Vice President and Chief Legal Officer



Offices and Contact Information

Corporate Headquarters 47 Hulfish Street Suite 210 Princeton, NJ 08542 (609) 683-4900	Los Angeles Regional Office 515 S. Flower Street Suite 1020 Los Angeles, CA 90071 (213) 405-5927	Transfer Agent Broadridge Corporate Issuer Solutions 1155 Long Island Avenue Edgewood, NY 11717 (855) 450-0288



Investor Relations Heather Gentry Vice President, Investor Relations Heather.Gentry@CSPREIT.com (609) 806-2682	Media Relations Gallen.Neilly Tim Gallen Tim@Gallen.com Andrew Neilly Andrew@Gallen.com (925) 930-9848



Credit Ratings

Standard & Poor's Ratings Services: BBB-	Moody's Investors Ratings: Baa3



Equity Research Coverage

Capital One Securities, Inc. Chris Lucas (571) 633-8151	D.A. Davidson & Co. Barry Oxford, CFA (212) 240-9871	JMP Securities Mitch Germain (212) 906-3546	Ladenburg Thalmann & Co. Daniel Donlan (212) 409-2056

Oppenheimer & Co. Steve Manaker (212) 667-5950	SunTrust Robinson Humphrey, Inc. Ki Bin Kim, CFA (212) 303-4124	Wells Fargo Securities, LLC Todd Stender (562) 637-1371

Supplemental Information | First Quarter 2015 | 3

CHAMBERS STREET PROPERTIES

Quarterly Highlights

Earnings


•	FFO: $0.16 per diluted share, or $38.0 million, which represents an increase of $0.02 per diluted share compared to Q4 2014 and a decrease of $0.01 per diluted share compared to Q1 2014.


•	Core FFO: $0.18 per diluted share, or $42.1 million, unchanged per diluted share compared to Q4 2014 and an increase of $0.01 per diluted share compared to Q1 2014.


•	AFFO: $0.17 per diluted share, or $40.6 million, which represents an increase of $0.02 per diluted share compared to Q4 2014 and an increase of $0.01 per diluted share compared to Q1 2014.

Operating


•	Percentage Leased: 98.4% as of March 31, 2015.


•	Leasing: Leased 251,697 rentable square feet comprised of 139,417 rentable square feet of renewals and 112,280 rentable square feet of new leases.

Acquisitions and Dispositions


•	Acquisitions: Acquired an 11.8 acre undeveloped parcel in Goodyear, Arizona for a price of $1.7 million.


•	Dispositions: Sold one office property in the Duke JV for approximately $20.6 million, of which our pro rata share was approximately $16.4 million.

Financing


•	Paid off note payable of $23.8 million secured by One Wayside Road on February 2, 2015.

Supplemental Information | First Quarter 2015 | 4

CHAMBERS STREET PROPERTIES

Financial Highlights

(Unaudited)

($ in Thousands, Except Share Data)



	March 31, 2015			December 31, 2014			September 30, 2014			June 30, 2014			March 31, 2014
Portfolio Statistics:
Number of Consolidated Properties	102			102			100			100			100
Number of Unconsolidated Properties⁽¹⁾	25			26			29			29			29
Total Properties	127			128			129			129			129
Total Net Rentable Square Feet⁽¹⁾	37,618,745			37,740,832			36,281,879			35,911,525			35,785,092
Approximate Acquisition Cost⁽²⁾	$	3,346,405		$	3,362,730		$	3,352,860		$	3,359,950		$	3,353,599
Percentage Leased⁽³⁾	98.4		%	98.3		%	97.3		%	95.9		%	96.1		%
Balance Sheet Items:
Total Assets⁽²⁾	$	2,980,927		$	3,045,198		$	3,077,962		$	3,132,338		$	3,153,676
Total Debt⁽²⁾	$	1,528,226		$	1,543,141		$	1,548,248		$	1,577,833		$	1,583,164
Total Shareholders' Equity	$	1,313,550		$	1,360,967		$	1,406,880		$	1,429,379		$	1,456,976



	Three Months Ended
	March 31,
	2015			2014
Income Items:
Total Revenues⁽²⁾	$	87,224		$	86,710
Net Operating Income - GAAP Basis⁽²⁾⁽⁴⁾	$	62,821		$	62,407
Net Operating Income - Cash Basis⁽²⁾⁽⁴⁾	$	62,379		$	63,050
Net Income	$	5,994		$	3,319
Adjusted EBITDA⁽²⁾⁽⁵⁾	$	52,814		$	55,158
Funds from Operations (FFO)⁽⁶⁾	$	37,997		$	39,221
Core Funds from Operations (Core FFO)⁽⁶⁾	$	42,086		$	39,554
Adjusted Funds from Operations (AFFO)⁽⁶⁾	$	40,565		$	38,974
Dividends Declared	$	30,210		$	29,820
Per Share Data (Basic and Diluted)
FFO per Share	$	0.16		$	0.17
Core FFO per Share	$	0.18		$	0.17
AFFO per Share	$	0.17		$	0.16
Dividends per Share	$	0.128		$	0.126
Weighted Average Common Shares Outstanding – Basic	236,940,134			236,583,752
Weighted Average Common Shares Outstanding – Diluted	236,963,354			236,583,752
Dividend Payout Ratios:
FFO⁽⁵⁾	79.5		%	76.0		%
Core FFO⁽⁵⁾	71.8		%	75.4		%
AFFO⁽⁵⁾	74.5		%	76.5		%

__________


(1)	Includes 100% of unconsolidated properties except those held through CBRE Strategic Partners Asia.


(2)	Includes continuing and discontinued operations and pro rata share of unconsolidated properties except those held through CBRE Strategic Partners Asia.


(3)	Average percentage leased is weighted based on net rentable square feet.


(4)	Refer to page 35 for a reconciliation of Net Income to Consolidated Net Operating Income.


(5)	Refer to page 36 for a reconciliation of Net Income to Adjusted EBITDA.


(6)	Refer to page 8 for a reconciliation of GAAP Net Income to FFO, Core FFO and AFFO.

Supplemental Information | First Quarter 2015 | 5

CHAMBERS STREET PROPERTIES

Consolidated Balance Sheets

($ in Thousands, Except Share Data)



	March 31, 2015			December 31, 2014			September 30, 2014			June 30, 2014			March 31, 2014
ASSETS
Investments in Real Estate:
Land	$	630,783		$	630,840		$	641,720		$	646,513		$	645,592
Land Available for Expansion	24,992			23,368			25,701			25,752			25,752
Buildings and Improvements	1,685,019			1,674,955			1,633,625			1,630,531			1,625,610
	2,340,794			2,329,163			2,301,046			2,302,796			2,296,954
Less: Accumulated Depreciation and Amortization	(257,510		)	(239,973		)	(243,073		)	(230,804		)	(213,156		)
Net Investments in Real Estate	2,083,284			2,089,190			2,057,973			2,071,992			2,083,798
Investments in Unconsolidated Entities	394,738			423,693			460,211			486,452			497,851
Cash and Cash Equivalents	44,658			40,139			58,546			55,588			44,565
Restricted Cash	15,186			14,718			14,372			12,793			12,216
Tenant and Other Receivables, Net	11,676			11,216			14,147			12,253			11,689
Deferred Rent	41,071			39,429			40,123			38,068			36,794
Deferred Leasing Costs and Intangible Assets, Net	208,614			220,490			220,802			230,899			242,368
Deferred Financing Costs, Net	8,555			9,321			9,908			10,318			10,931
Prepaid Expenses and Other Assets	19,385			21,612			13,647			10,299			12,100
Total Assets	$	2,827,167		$	2,869,808		$	2,889,729		$	2,928,662		$	2,952,312
LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES
Secured Notes Payable, Net	$	581,706		$	610,608		$	632,361		$	652,166		$	656,520
Unsecured Term Loan Facilities	570,000			570,000			570,000			570,000			570,000
Unsecured Revolving Credit Facility	235,044			200,044			170,044			170,044			170,044
Accounts Payable, Accrued Expenses and Other Liabilities	74,786			76,421			57,587			56,734			45,892
Intangible Liabilities, Net	25,067			26,248			26,988			25,994			27,024
Prepaid Rent and Security Deposits	16,939			15,569			15,918			14,392			15,902
Distributions Payable	10,075			9,951			9,951			9,953			9,954
Total Liabilities	1,513,617			1,508,841			1,482,849			1,499,283			1,495,336
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY
Common Shares of Beneficial Interest, $0.01 par value, 990,000,000 shares authorized	2,366			2,364			2,362			2,361			2,360
Additional Paid-in-Capital	2,073,109			2,071,526			2,069,710			2,068,683			2,067,772
Accumulated Deficit	(713,877		)	(689,654		)	(651,909		)	(640,523		)	(615,814		)
Accumulated Other Comprehensive (Loss) Income	(48,048		)	(23,269		)	(13,283		)	(1,142		)	2,658
Total Shareholders’ Equity	1,313,550			1,360,967			1,406,880			1,429,379			1,456,976
Total Liabilities and Shareholders’ Equity	$	2,827,167		$	2,869,808		$	2,889,729		$	2,928,662		$	2,952,312

Supplemental Information | First Quarter 2015 | 6

CHAMBERS STREET PROPERTIES

Consolidated Statements of Operations

For the Three Months Ended March 31, 2015 and 2014 (unaudited)

($ in Thousands, Except Share Data)



	Three Months Ended
	March 31,
	2015			2014
REVENUES
Rental	$	54,346		$	51,876
Tenant Reimbursements	16,439			15,220
Other Property Income	198			1,069
Total Revenues	70,983			68,165
EXPENSES
Property Operating	9,781			9,553
Real Estate Taxes	10,782			9,801
General and Administrative	9,873			6,864
Acquisition-Related	—			290
Depreciation and Amortization	27,920			27,238
Total Expenses	58,356			53,746
Income Before Other (Expenses) Income	12,627			14,419
OTHER EXPENSES AND INCOME
Interest and Other Income	80			167
Interest Expense	(13,059		)	(14,061		)
Interest Expense and Net Change in Fair Value of Non-Qualifying Derivative Financial Instruments	17			26
Total Other (Expenses) Income	(12,962		)	(13,868		)
(Loss) Income Before Provision for Income Taxes and Equity in Income of Unconsolidated Entities	(335		)	551
Provision For Income Taxes	(176		)	(58		)
Equity in Income of Unconsolidated Entities	6,505			2,826
NET INCOME	$	5,994		$	3,319
Basic and Diluted Net Income Per Share Attributable to Common Shareholders	$	0.03		$	0.01
Weighted Average Common Shares Outstanding - Basic	236,940,134			236,583,752
Weighted Average Common Shares Outstanding - Diluted	236,963,354			236,583,752
Dividends Declared per Common Share	$	0.128		$	0.126

Supplemental Information | First Quarter 2015 | 7

CHAMBERS STREET PROPERTIES

Reconciliation of Net Income to FFO, Core FFO and AFFO

For the Three Months Ended March 31, 2015 and 2014 (unaudited)

($ in Thousands, Except Share Data)



	Three Months Ended
	March 31,
	2015			2014
Net Income	$	5,994		$	3,319
Real Estate Depreciation and Amortization	27,780			27,132
Pro Rata Share of Real Estate Depreciation and Amortization from Unconsolidated Entities	6,639			8,770
Pro Rata Share of Gain on Sale of Real Estate from Unconsolidated Entities	(2,416		)	—
Funds from Operations	37,997			39,221
Acquisition-Related Expenses	—			290
Pro Rata Share of Loss on Early Extinguishment of Debt from Unconsolidated Entities	58			—
Severance-Related Expense	4,017			—
Net Change in Fair Value of Non-Qualifying Derivative Financial Instruments	(17		)	(26		)
Pro Rata Share of Unrealized Loss on Investment in CBRE Strategic Partners Asia	31			69
Core Funds from Operations	42,086			39,554
Amortization of Non-Cash Interest Expense	(380		)	(104		)
Pro Rata Share of Amortization of Non-Cash Interest Expense from Unconsolidated Entities	96			118
Amortization of Above and Below Market Leases	975			1,482
Pro Rata Share of Amortization of Above/Below Market Leases from Unconsolidated Entities	(50		)	(54		)
Amortization of Deferred Revenue Related to Tenant Improvements	(113		)	(276		)
Share Based Compensation	735			1,012
Straight-Line Rent Adjustments, Net	(1,668		)	(1,291		)
Pro Rata Share of Straight-Line Rent Adjustments, Net from Unconsolidated Entities	301			506
Recurring Capital Expenditures	(723		)	(1,852		)
Pro Rata Share of Recurring Capital Expenditures from Unconsolidated Entities	(694		)	(121		)
Adjusted Funds from Operations	$	40,565		$	38,974
Amounts Per Share (Basic and Diluted):
Net Income	$	0.03		$	0.01
Funds from Operations	$	0.16		$	0.17
Core Funds from Operations	$	0.18		$	0.17
Adjusted Funds from Operations	$	0.17		$	0.16
Weighted Average Common Shares Outstanding - Basic	236,940,134			236,583,752
Weighted Average Common Shares Outstanding - Diluted	236,963,354			236,583,752

Supplemental Information | First Quarter 2015 | 8

CHAMBERS STREET PROPERTIES

Joint Venture Information

As of March 31, 2015

($ and Square Footage Amounts in Thousands)



	Duke JV			European JV			UK JV
Number of Properties:
Industrial	7			9			3
Office	6			—			—
Total Number of Properties	13			9			3
Percent Leased	99.9		%	100.0		%	100.0		%
Square Feet:
Industrial	6,120			4,966			542
Office	667			—			—
Total Square Feet	6,787			4,966			542
Company Effective Ownership Percentage	80.0		%	80.0		%	80.0		%
Balance Sheet Information⁽¹⁾
Net Investments in Real Estate	$	319,663		$	241,518		$	36,879
Other Assets	32,886			42,108			4,068
Total Assets	$	352,549		$	283,626		$	40,947
Secured Notes Payable	$	56,948		$	119,897		$	—
Other Liabilities	7,581			6,413			1,918
Equity	288,020			157,316			39,029
Total Liabilities and Equity	$	352,549		$	283,626		$	40,947



Income Statement Information⁽¹⁾

	Duke JV						European JV				UK JV
	Three Months Ended						Three Months Ended				Three Months Ended
	March 31,						March 31,				March 31,
	2015			2014			2015		2014		2015		2014
Total Revenue	$	12,631		$	14,660		$	6,573	$	7,336	$	1,098	$	1,185
Operating Expenses	3,423			5,036			1,215		987		162		162
Net Operating Income	9,208			9,624			5,358		6,349		936		1,023
Depreciation and Amortization	5,214			7,516			2,601		3,071		484		523
Interest	794			1,040			957		1,133		—		—
Gain on Sale of Real Estate	3,020			—			—		—		—		—
Loss on Extinguishment of Debt	(73		)	—			—		—		—		—
Net Income	6,147			1,068			1,800		2,145		452		500
Company's Share in Net Income	4,917			854			1,439		1,716		362		400
Adjustments for REIT Basis	(26		)	(31		)	—		—		—		—
Company's Equity in Net Income	$	4,891		$	823		$	1,439	$	1,716	$	362	$	400

__________


(1)	Includes 100% of unconsolidated properties held through our Duke JV, European JV, and UK JV.

Supplemental Information | First Quarter 2015 | 9

CHAMBERS STREET PROPERTIES

Consolidated and Pro Rata Share Balance Sheets

As of March 31, 2015 and December 31, 2014

(In Thousands)



	March 31, 2015							December 31, 2014
	Consolidated		Pro Rata Share of Joint Ventures⁽¹⁾			Total at Pro Rata Share		Consolidated		Pro Rata Share of Joint Ventures⁽¹⁾			Total at Pro Rata Share
Assets
Real Estate Net	$	2,083,284	$	478,447		$	2,561,731	$	2,089,190	$	509,089		$	2,598,279
Real Estate Investments and Other Assets Held-for-Sale	—		—			—		—		13,784			13,784
Other Assets	349,145		63,367			412,512		356,925		69,340			426,265
Investments in Unconsolidated Entities	394,738		(388,054		)	6,684		423,693		(416,823		)	6,870
Total Assets	$	2,827,167	$	153,760		$	2,980,927	$	2,869,808	$	175,390		$	3,045,198
Liabilities and Equity
Liabilities Related to Real Estate Investments Held-for-Sale	$	—	$	—		$	—	$	—	$	8,838		$	8,838
Total Debt	1,386,750		141,476			1,528,226		1,380,652		153,916			1,534,568
Other Liabilities	126,867		12,284			139,151		128,189		12,636			140,825
Total Liabilities	1,513,617		153,760			1,667,377		1,508,841		175,390			1,684,231
Shareholders’ Equity	1,313,550		—			1,313,550		1,360,967		—			1,360,967
Total Liabilities and Equity	$	2,827,167	$	153,760		$	2,980,927	$	2,869,808	$	175,390		$	3,045,198

__________


(1)	Includes Duke JV, European JV, and UK JV.

Supplemental Information | First Quarter 2015 | 10

CHAMBERS STREET PROPERTIES

Consolidated and Pro Rata Share Net Operating Income

For the Three Months Ended March 31, 2015 and 2014 (unaudited)

(In Thousands)



	Three Months Ended March 31, 2015									Three Months Ended March 31, 2014
	Consolidated			Pro Rata Share of Joint Ventures⁽¹⁾			Total at Pro Rata Share			Consolidated			Pro Rata Share of Joint Ventures⁽¹⁾			Total at Pro Rata Share
Total Revenues	$	70,983		$	16,241		$	87,224		$	68,165		$	18,545		$	86,710
Total Operating Expenses	20,563			3,840			24,403			19,354			4,949			24,303
Net Operating Income - GAAP Basis	50,420			12,401			62,821			48,811			13,596			62,407
Straight-Line Rent Adjustment, Net	(1,668		)	301			(1,367		)	(1,291		)	506			(785		)
Above/Below Market Lease Amortization, Net	975			(50		)	925			1,482			(54		)	1,428
Net Operating Income - Cash Basis	$	49,727		$	12,652		$	62,379		$	49,002		$	14,048		$	63,050
Interest Expense	$	13,059		$	1,401		$	14,460		$	14,061		$	1,738		$	15,799

__________


(1)	Includes amounts from continuing operations for the Duke JV, UK JV and European JV.

Supplemental Information | First Quarter 2015 | 11

CHAMBERS STREET PROPERTIES

Same Property Statistics

As of March 31, 2015

($ in Thousands)



	Three Months Ended
	March 31,
	2015		2014
Total Portfolio Square Footage at Quarter End	37,618,745		35,785,092
Number of Properties at Quarter End	127		129
Same Property Portfolio Square Footage⁽¹⁾	34,334,572		34,196,348
Same Property Portfolio Number of Buildings⁽¹⁾	120		120
Percentage of Total Quarter Ending Square Footage	91.3	%	95.6	%
Same Property Portfolio % Leased at Quarter End	98.2	%	96.1	%



	Three Months Ended
	March 31,
	2015			2014
Total Revenues	$	82,270		$	81,542
Total Operating Expenses	23,373			22,556
Net Operating Income - GAAP Basis	$	58,897		$	58,986
Less: Straight-Line Rent Revenue	(1,183		)	(1,213		)
Add: Above/Below Market Lease Revenue	934			1,364
Net Operating Income - Cash Basis	$	58,648		$	59,137
Same Property Portfolio Weighted Average % Leased	98.3		%	95.9		%

__________


(1)	Our same property portfolio includes all consolidated and unconsolidated properties owned and operating as of January 1, 2014 and still owned and operating as of March 31, 2015. Revenue and expense from same unconsolidated properties are included at pro rata share. Square footage and number of buildings are at 100%.

Supplemental Information | First Quarter 2015 | 12

CHAMBERS STREET PROPERTIES (continued)

Same Property Statistics

As of March 31, 2015

($ in Thousands)



	Office⁽¹⁾											Industrial⁽¹⁾
	Three Months Ended						$ Change			% Change		Three Months Ended					$ Change		% Change
	March 31, 2015			March 31, 2014			$ Change			% Change		March 31, 2015		March 31, 2014			$ Change		% Change
Rental Revenue	$	39,286		$	38,346							$	24,745	$	24,692
Tenant Reimbursement	12,205			11,889								5,836		5,546
Other Property Income	—			1,069								198		—
Total Revenue	51,491			51,304			$	187		0.4	%	30,779		30,238			$	541	1.8	%
Operating Expenses	8,697			8,533								3,237		3,305
Real Estate Taxes	7,314			6,846								4,125		3,872
Total Expenses	16,011			15,379			632			4.1	%	7,362		7,177			185		2.6	%
Net Operating Income - GAAP Basis	$	35,480		$	35,925		$	(445	)	(1.2	)%	$	23,417	$	23,061		$	356	1.5	%
Rental Revenue - GAAP Basis	$	51,491		$	51,304							$	30,779	$	30,238
Add: Straight-Line Rent Revenue	(1,264		)	(1,018		)						81		(195		)
Add: Above/Below Lease Revenue	846			1,103								88		261
Rental Revenue - Cash Basis	51,073			51,389			(316		)	(0.6	)%	30,948		30,304			644		2.1	%
Less: Total Expenses	16,011			15,379								7,362		7,177
Net Operating Income - Cash Basis	$	35,062		$	36,010		$	(948	)	(2.6	)%	$	23,586	$	23,127		$	459	2.0	%



	Total Same Properties⁽¹⁾
	Three Months Ended						$ Change			% Change
	March 31, 2015			March 31, 2014			$ Change			% Change
Rental Revenue	$	64,031		$	63,038
Tenant Reimbursement	18,041			17,435
Other Property Income	198			1,069
Total Revenue	82,270			81,542			$	728		0.9	%
Operating Expenses	11,934			11,838
Real Estate Taxes	11,439			10,718
Total Expenses	23,373			22,556			817			3.6	%
Net Operating Income - GAAP Basis	$	58,897		$	58,986		$	(89	)	(0.2	)%
Rental Revenue - GAAP Basis	$	82,270		$	81,542
Add: Straight-Line Rent Revenue	(1,183		)	(1,213		)
Add: Above/Below Lease Revenue	934			1,364
Rental Revenue - Cash Basis	82,021			81,693			328			0.4	%
Less: Total Expenses	23,373			22,556			817			3.6	%
Net Operating Income - Cash Basis	$	58,648		$	59,137		$	(489	)	(0.8	)%

__________


(1)	Our same property portfolio includes all consolidated and unconsolidated properties owned as of January 1, 2014 and still owned as of March 31, 2015. Revenue and expense from same unconsolidated properties are included at pro rata share.

Supplemental Information | First Quarter 2015 | 13

CHAMBERS STREET PROPERTIES

Portfolio Summary

As of March 31, 2015

($ in Thousands)



Property Types

	Consolidated Properties				Unconsolidated Properties⁽¹⁾				Consolidated & Unconsolidated Properties⁽¹⁾
	Properties	Net Rentable Square Feet	% of QTD NOI		Properties	Net Rentable Square Feet	% of QTD NOI		Properties	Net Rentable Square Feet	% of QTD NOI
Industrial
Triple Net Single-Tenant	48	15,510,853	30.6	%	18	11,184,416	70.9	%	66	26,695,269	38.5	%
Multi-Tenant	10	2,097,934	4.1	%	1	442,816	5.7	%	11	2,540,750	4.5	%
Other Single-Tenant	2	432,543	0.7	%	—	—	—	%	2	432,543	0.5	%
Total Industrial	60	18,041,330	35.4	%	19	11,627,232	76.6	%	79	29,668,562	43.5	%
Office
Triple Net Single-Tenant	29	5,043,825	43.8	%	2	277,325	10.5	%	31	5,321,150	37.2	%
Multi-Tenant	7	1,551,768	13.7	%	3	293,063	9.2	%	10	1,844,831	12.9	%
Other Single-Tenant	6	688,027	7.1	%	1	96,175	3.6	%	7	784,202	6.4	%
Total Office	42	7,283,620	64.6	%	6	666,563	23.3	%	48	7,950,183	56.5	%
All Properties
Triple Net Single-Tenant	77	20,554,678	74.4	%	20	11,461,741	81.4	%	97	32,016,419	75.7	%
Multi-Tenant	17	3,649,702	17.8	%	4	735,879	15.0	%	21	4,385,581	17.4	%
Other Single-Tenant	8	1,120,570	7.8	%	1	96,175	3.6	%	9	1,216,745	6.9	%
Total Properties	102	25,324,950	100.0	%	25	12,293,795	100.0	%	127	37,618,745	100.0	%

__________


(1)	Includes unconsolidated properties held through our Duke JV, European JV and UK JV. Net rentable square feet is at 100% and NOI percentage is at our pro rata share of effective ownership.

Supplemental Information | First Quarter 2015 | 14

CHAMBERS STREET PROPERTIES (continued)

Portfolio Summary

As of March 31, 2015

($ in Thousands)



Tenant Credit Ratings

	Annualized Base Rent⁽¹⁾		% of Total Annualized Base Rent
	Annualized Base Rent⁽¹⁾		% of Total Annualized Base Rent
Investment Grade Rated Tenants⁽²⁾⁽³⁾	$	143,448	53.9	%
Non-Investment Grade Rated Tenants⁽⁴⁾	24,113		9.1	%
Unrated	98,467		37.0	%
	$	266,028	100.0	%

__________


(1)	Annualized base rent for unconsolidated properties is at our pro rata share of effective ownership. Includes consolidated and unconsolidated properties.


(2)	We define Investment Grade Rated Tenant as a tenant, or whose guarantor or parent company, that has an investment grade credit rating as determined by either Standard and Poor's or Moody's.

(3)

In accordance with the provisions of the loan secured by our 70 Hudson Street property, beginning in February 2015, the property's cash flow in excess of interest and operating expenses is being reserved by the lender. As a result, we are only able to recognize a portion of the property's investment grade tenant's annualized base rental revenue. The rents in this table are presented at the adjusted amounts.


(4)	We define Non-Investment Grade Rated Tenant as a tenant, or whose guarantor or parent company, that has a non-investment grade credit rating as determined by either Standard and Poor's or Moody's.



Scheduled Rental Increases

	Net Rentable Square Feet⁽¹⁾	% of Total Net Rentable Square Feet		Annualized Base Rent⁽¹⁾		% of Total Annualized Base Rent
Fixed Rental Increases⁽²⁾⁽³⁾	29,534,188	79.8	%	$	224,180	84.2	%
Indexed Rental Increases⁽⁴⁾	6,135,920	16.6	%	33,042		12.5	%
Constant Rent	1,333,460	3.6	%	8,806		3.3	%
All Leases	37,003,568	100.0	%	$	266,028	100.0	%

__________


(1)	Net rentable square feet for unconsolidated properties is at 100%. Annualized base rent for unconsolidated properties is at our pro rata share of effective ownership. Includes consolidated and unconsolidated properties.


(2)	Includes certain leases that were subject to historical rental increases.

(3)

In accordance with the provisions of the loan secured by our 70 Hudson Street property, beginning in February 2015, the property's cash flow in excess of interest and operating expenses is being reserved by the lender. As a result, we are only able to recognize a portion of the property's tenant's annualized base rental revenue. The tenant's lease is subject to fixed rental increases. The rents in this table are presented at the adjusted amounts.


(4)	Indexed rental increases are generally based upon inflation or market rents.

Supplemental Information | First Quarter 2015 | 15

CHAMBERS STREET PROPERTIES

Acquisition and Disposition Activity

As of March 31, 2015

($ in Thousands)

2015 Wholly-Owned Acquisitions

Property

Market

Date of

Acquisition

Purchase

Price

Net
Rentable
Square
Feet

Goodyear Crossing II (Land Parcel)⁽¹⁾

Phoenix

2/10/2015

1,675

N/A

__________


(1)	During February 2015, we acquired an 11.8 acre undeveloped parcel in Goodyear, Arizona for a price of $1.7 million, which has been included as part of our Goodyear Crossing II property located in the Phoenix, Arizona market.

2015 Disposition of Properties

Property

Market

Date of Disposition

Gross Sales Price at Pro Rata Share

Net

Rentable

Square

Feet

Ownership

Percentage

Capitalization Rates

In-Place

Straight Line

Regency Creek I

Raleigh

1/23/2015

16,440

122,087

80.0

10.9

10.0



2014 Wholly-Owned Acquisitions

Property	Market		Date of Acquisition	Purchase Price		Net Rentable Square Feet	Capitalization Rates
Property	Market		Date of Acquisition	Purchase Price		Net Rentable Square Feet	In-Place			Straight Line
445 Airtech Parkway	Indianapolis	IN	1/2/2014	$	30,200	622,440	6.3	%		6.7	%
1 Rocket Road	Los Angeles - South Bay	CA	7/31/2014	46,650		514,753	6.7	%		7.7	%
1659 Sauget Business Blvd	St. Louis	MO	10/24/2014	21,100		502,500	7.6	%		7.7	%
325 Center Point Blvd	Northeast	PA	11/18/2014	45,750		744,080
550 Oak Ridge Drive	Northeast	PA	11/18/2014	40,700		615,600
125 Capital Road	Northeast	PA	11/18/2014	8,700		144,000
14-46 Alberigi Drive	Northeast	PA	11/18/2014	10,500		140,800	7.6	%	⁽¹⁾	7.8	%	⁽¹⁾
Total Wholly-Owned Acquisitions				$	203,600	3,284,173

__________


(1)	Capitalization rate for the four industrial properties acquired in November 2014.



2014 Disposition of Properties

Property	Market		Date of Disposition	Gross Sales Price at Pro Rata Share		Net Rentable Square Feet	Ownership Percentage		Capitalization Rates
Property	Market		Date of Disposition	Gross Sales Price at Pro Rata Share		Net Rentable Square Feet	Ownership Percentage		In-Place		Straight Line
One Conway Park	Chicago	IL	1/16/2014	$	10,480	105,000	80.0	%	7.5	%	4.6	%
Maskew Retail Park	Peterborough	UK	7/23/2014	62,978		144,400	100.0	%	6.6	%	6.4	%
12650 Ingenuity Drive	Orlando	FL	11/18/2014	26,500		124,500	100.0	%	9.1	%	8.6	%
Thames Valley Five	Reading	UK	11/24/2014	18,781		40,468	100.0	%	6.5	%	7.2	%
Sam Houston Crossing I	Houston	TX	12/5/2014	26,240		159,175	80.0	%	8.4	%	7.9	%
One Easton Oval and Two Easton Oval	Columbus	OH	12/8/2014	20,680		253,705	80.0	%	8.1	%	7.0	%
Deerfield Commons	Atlanta	GA	12/16/2014	19,400		121,969	100.0	%	7.4	%	6.0	%
				$	185,059	949,217

Supplemental Information | First Quarter 2015 | 16

CHAMBERS STREET PROPERTIES

Our Properties

As of March 31, 2015

($ in Thousands)



Property and Market		Date Acquired	Year Built	Net Rentable Square Feet	Percentage Leased		Approximate Total Acquisition Cost⁽¹⁾

Industrial
Consolidated Industrial
300 Constitution Drive⁽²⁾⁽³⁾	Boston, MA	11/3/2004	1998	330,000	—%		$	19,805
505 Century Parkway⁽²⁾	Dallas, TX	1/9/2006	1997	100,000	100.0	%	6,095
631 International Parkway⁽²⁾	Dallas, TX	1/9/2006	1998	73,112	100.0	%	5,407
660 North Dorothya⁽²⁾	Dallas, TX	1/9/2006	1997	120,000	100.0	%	6,836
Bolingbrook Point III⁽²⁾	Chicago, IL	8/29/2007	2006	185,045	100.0	%	18,170
Community Cash Complex 1⁽²⁾	Spartanburg, SC	8/30/2007	1960	207,038	100.0	%	2,690
Community Cash Complex 2⁽²⁾	Spartanburg, SC	8/30/2007	1978	145,058	100.0	%	2,225
Community Cash Complex 3⁽²⁾	Spartanburg, SC	8/30/2007	1981	116,413	56.0	%	1,701
Community Cash Complex 4⁽²⁾	Spartanburg, SC	8/30/2007	1984	33,019	100.0	%	547
Community Cash Complex 5⁽²⁾	Spartanburg, SC	8/30/2007	1984	53,033	100.0	%	824
Fairforest Building 1⁽²⁾	Spartanburg, SC	8/30/2007	2000	51,028	100.0	%	2,974
Fairforest Building 2⁽²⁾⁽³⁾	Spartanburg, SC	8/30/2007	1999	104,160	100.0	%	5,379
Fairforest Building 3⁽²⁾⁽³⁾	Spartanburg, SC	8/30/2007	2000	100,000	100.0	%	5,760
Fairforest Building 4⁽²⁾	Spartanburg, SC	8/30/2007	2001	190,606	100.0	%	5,640
Fairforest Building 5⁽³⁾	Spartanburg, SC	8/30/2007	2006	316,491	100.0	%	16,968
Fairforest Building 6⁽³⁾	Spartanburg, SC	8/30/2007	2005	101,055	100.0	%	7,469
Fairforest Building 7⁽²⁾⁽³⁾	Spartanburg, SC	8/30/2007	2006	101,459	84.0	%	5,626
Greenville/Spartanburg Industrial Park⁽²⁾	Spartanburg, SC	8/30/2007	1990	67,375	100.0	%	3,388
Highway 290 Commerce Park Building 1⁽²⁾	Spartanburg, SC	8/30/2007	1995	150,000	100.0	%	5,388
Highway 290 Commerce Park Building 5⁽²⁾	Spartanburg, SC	8/30/2007	1993	30,000	100.0	%	1,420
Highway 290 Commerce Park Building 7⁽²⁾	Spartanburg, SC	8/30/2007	1994	93,971	100.0	%	4,889
HJ Park Building 1⁽²⁾	Spartanburg, SC	8/30/2007	2003	70,000	100.0	%	4,216
Jedburg Commerce Park⁽²⁾⁽³⁾	Charleston, SC	8/30/2007	2007	512,686	88.0	%	41,991
Kings Mountain I⁽³⁾	Charlotte, NC	8/30/2007	1998	100,000	100.0	%	5,497
Kings Mountain II⁽³⁾	Charlotte, NC	8/30/2007	2002	301,400	100.0	%	11,311
Mount Holly Building	Charleston, SC	8/30/2007	2003	100,823	100.0	%	6,208
North Rhett I	Charleston, SC	8/30/2007	1973	284,750	100.0	%	10,302
North Rhett II	Charleston, SC	8/30/2007	2001	101,705	100.0	%	7,073
North Rhett III⁽²⁾⁽³⁾	Charleston, SC	8/30/2007	2002	79,972	100.0	%	4,812
North Rhett IV⁽³⁾	Charleston, SC	8/30/2007	2005	316,040	100.0	%	17,060
Orangeburg Park Building⁽³⁾	Charleston, SC	8/30/2007	2003	101,055	100.0	%	5,474
Orchard Business Park 2⁽²⁾	Spartanburg, SC	8/30/2007	1993	17,500	—%		761
Union Cross Building I	Winston-Salem, NC	8/30/2007	2005	100,853	100.0	%	6,585
Union Cross Building II	Winston-Salem, NC	8/30/2007	2005	316,130	100.0	%	17,216
Highway 290 Commerce Park Building 2⁽²⁾⁽³⁾	Spartanburg, SC	9/24/2007	1995	100,000	100.0	%	4,626
Highway 290 Commerce Park Building 6⁽²⁾⁽³⁾	Spartanburg, SC	11/1/2007	1996	105,000	100.0	%	3,760
Kings Mountain III⁽²⁾⁽³⁾	Charlotte, NC	3/14/2008	2007	541,910	100.0	%	25,728
13201 Wilfred Lane⁽²⁾	Minneapolis, MN	6/29/2009	1999	335,400	100.0	%	15,340
140 Depot Street⁽²⁾	Boston, MA	7/31/2009	2009	238,370	100.0	%	18,950
West Point Trade Center⁽²⁾	Jacksonville, FL	12/30/2009	2009	601,500	100.0	%	29,000
1985 International Way	Cincinnati, OH	10/27/2010	1998	189,400	100.0	%	14,800
3660 Deerpark Boulevard⁽³⁾	Jacksonville, FL	10/27/2010	2002	321,500	100.0	%	15,300
4701 Gold Spike Drive	Dallas, TX	10/27/2010	2002	420,360	100.0	%	20,300

Supplemental Information | First Quarter 2015 | 17

CHAMBERS STREET PROPERTIES (continued)

Our Properties

As of March 31, 2015

($ in Thousands)



Property and Market		Date Acquired	Year Built	Net Rentable Square Feet	Percentage Leased		Approximate Total Acquisition Cost⁽¹⁾

Tolleson Commerce Park II	Phoenix, AZ	10/27/2010	1999	217,422	78.0	%	9,200
Millers Ferry Road⁽²⁾	Dallas, TX	6/2/2011	2011	1,020,000	100.0	%	40,366
Aurora Commerce Center⁽²⁾	Denver, CO	11/30/2011	2007	406,959	100.0	%	24,500
2400 Dralle Road⁽²⁾⁽³⁾	Chicago, IL	3/20/2012	2011	1,350,000	100.0	%	64,250
Midwest Commerce Center I⁽²⁾⁽³⁾	Kansas City, KS	8/16/2012	2009	1,107,000	100.0	%	62,950
20000 S Diamond Lake Rd.	Minneapolis, MN	11/7/2012	2004	280,577	100.0	%	18,500
Gateway at Riverside⁽²⁾⁽³⁾	Baltimore, MD	11/30/2012	1991	800,798	100.0	%	49,229
Mid-Atlantic Distribution Center – Bldg. A⁽²⁾	Baltimore, MD	12/28/2012	2008	672,000	100.0	%	43,150
Goodyear Crossing II⁽⁴⁾	Phoenix, AZ	3/1/2013	2009	820,384	100.0	%	66,558
1200 Woods Chapel Road⁽²⁾⁽³⁾	Spartanburg, SC	8/8/2013	2008	156,800	100.0	%	10,750
445 Airtech Parkway⁽²⁾⁽³⁾	Indianapolis, IN	1/2/2014	2013	622,440	100.0	%	30,200
1 Rocket Road	Los Angeles - South Bay, CA	7/31/2014	2008	514,753	100.0	%	46,650
1659 Sauget Business Blvd⁽²⁾	St. Louis, MO	10/24/2014	2008	502,500	100.0	%	21,100
325 Centerpoint Blvd⁽²⁾	Northeast, PA	11/18/2014	2008	744,080	100.0	%	45,750
550 Oak Ridge Drive⁽²⁾	Northeast, PA	11/18/2014	2005	615,600	100.0	%	40,700
125 Capital Road⁽²⁾	Northeast, PA	11/18/2014	2007	144,000	100.0	%	8,700
14-46 Alberigi Drive⁽²⁾	Northeast, PA	11/18/2014	2005	140,800	100.0	%	10,500
Total Consolidated Industrial⁽⁵⁾			2005	18,041,330	97.1	%	$	1,008,564
Unconsolidated Industrial
Buckeye Logistics Center⁽²⁾⁽⁷⁾	Phoenix, AZ	6/12/2008	2008	1,009,351	100.0	%	$	52,797
12200 President's Court⁽²⁾⁽⁷⁾	Jacksonville, FL	9/30/2008	2008	772,210	100.0	%	29,995
201 Sunridge Blvd.⁽²⁾⁽⁷⁾	Dallas, TX	9/30/2008	2008	822,550	100.0	%	25,690
AllPoints at Anson Bldg. 1⁽²⁾⁽⁷⁾	Indianapolis, IN	9/30/2008	2008	1,036,573	100.0	%	42,684
125 Enterprise Parkway⁽²⁾⁽⁷⁾	Columbus, OH	12/10/2008	2008	1,142,400	100.0	%	38,088
AllPoints Midwest Bldg. 1⁽²⁾⁽⁷⁾	Indianapolis, IN	12/10/2008	2008	1,200,420	100.0	%	41,428
Fairfield Distribution Ctr. IX⁽⁷⁾	Tampa, FL	5/13/2009	2008	136,212	100.0	%	7,151
Amber Park⁽²⁾⁽⁸⁾	South Normanton, UK	6/10/2010	1997	208,423	100.0	%	12,514
Brackmills⁽²⁾⁽⁸⁾	Northampton, UK	6/10/2010	1984	186,618	100.0	%	13,407
Düren⁽²⁾⁽⁹⁾	Rhine-Ruhr, Germany	6/10/2010	2008	391,494	100.0	%	13,148
Schönberg⁽²⁾⁽⁹⁾	Hamburg, Germany	6/10/2010	2009	453,979	100.0	%	13,819
Langenbach⁽²⁾⁽⁹⁾	Munich, Germany	10/28/2010	2010	225,106	100.0	%	18,573
Graben Distribution Center I⁽⁹⁾	Munich, Germany	12/20/2011	2011	1,017,868	100.0	%	54,962
Graben Distribution Center II⁽⁹⁾	Munich, Germany	12/20/2011	2011	73,367	100.0	%	6,868
Valley Park, Unit D⁽²⁾⁽⁸⁾	Rugby, UK	3/19/2012	2011	146,491	100.0	%	10,247
Koblenz Distribution Center⁽⁹⁾	Rhine-Ruhr, Germany	12/12/2012	2012	1,070,126	100.0	%	63,021
Bodenheim Logistikzentrum⁽⁹⁾	Frankfurt, Germany	11/25/2013	2012	442,816	100.0	%	25,392
Hansalinie Distribution Center⁽⁹⁾	Bremen, Germany	11/25/2013	2012	320,463	100.0	%	24,226
Lille-Douai Distribution Center⁽⁹⁾	Lille, France	12/17/2013	2013	970,765	100.0	%	62,746
Total Unconsolidated Industrial⁽⁵⁾⁽⁶⁾			2009	11,627,232	100.0	%	$	556,756
Total Industrial⁽⁵⁾			2006	29,668,562	98.2	%	$	1,565,320

Supplemental Information | First Quarter 2015 | 18

CHAMBERS STREET PROPERTIES (continued)

Our Properties

As of March 31, 2015

($ in Thousands)



Property and Market		Date Acquired	Year Built	Net Rentable Square Feet	Percentage Leased		Approximate Total Acquisition Cost⁽¹⁾

Office
Consolidated Office
REMEC Corporate Campus 1⁽²⁾	San Diego, CA	9/15/2004	1983	34,000	100.0	%	$	6,833
REMEC Corporate Campus 2⁽²⁾	San Diego, CA	9/15/2004	1983	30,477	100.0	%	6,125
REMEC Corporate Campus 3⁽²⁾	San Diego, CA	9/15/2004	1983	37,430	100.0	%	7,523
REMEC Corporate Campus 4⁽²⁾	San Diego, CA	9/15/2004	1983	30,778	100.0	%	6,186
602 Central Boulevard⁽²⁾⁽³⁾	Coventry, UK	4/27/2007	2001	50,502	100.0	%	23,847
Lakeside Office Center	Dallas, TX	3/5/2008	2006	98,750	95.0	%	17,994
Enclave on the Lake⁽²⁾	Houston, TX	7/1/2008	1999	171,091	100.0	%	37,827
Avion Midrise III⁽²⁾	Washington, DC Metro	11/18/2008	2002	71,507	100.0	%	21,111
Avion Midrise IV⁽²⁾	Washington, DC Metro	11/18/2008	2002	71,504	100.0	%	21,112
3011, 3055 & 3077 Comcast Place⁽²⁾	East Bay, CA	7/1/2009	1988	219,631	100.0	%	49,000
Crest Ridge Corporate Center I⁽²⁾	Minneapolis, MN	8/17/2009	2009	116,338	100.0	%	28,419
5160 Hacienda Dr⁽²⁾	East Bay, CA	4/8/2010	1988	201,620	100.0	%	38,500
10450 Pacific Center Court⁽²⁾⁽³⁾	San Diego, CA	5/7/2010	1985	134,000	100.0	%	32,750
225 Summit Ave⁽²⁾⁽³⁾	Northern NJ	6/21/2010	1966	142,500	100.0	%	40,600
One Wayside Road⁽²⁾	Boston, MA	6/24/2010	1998	200,605	100.0	%	55,525
100 Tice Blvd	Northern NJ	9/28/2010	2007	208,911	100.0	%	67,600
Ten Parkway North	Chicago, IL	10/12/2010	1999	99,566	100.0	%	25,000
Pacific Corporate Park⁽²⁾⁽³⁾	Washington, DC Metro	11/15/2010	2002	696,387	96.0	%	144,500
100 Kimball Drive⁽²⁾	Northern NJ	12/10/2010	2006	175,000	100.0	%	60,250
70 Hudson Street	New York City Metro	4/11/2011	2000	409,272	100.0	%	155,000
90 Hudson Street	New York City Metro	4/11/2011	1999	431,658	100.0	%	155,000
Sky Harbor Operations Center⁽²⁾	Phoenix, AZ	9/30/2011	2003	396,179	100.0	%	53,500
1400 Atwater Drive⁽²⁾⁽³⁾	Philadelphia, PA	10/27/2011	2013	299,809	100.0	%	82,224
Sabal Pavilion⁽²⁾	Tampa, FL	12/30/2011	1998	120,500	100.0	%	21,368
701 & 801 Charles Ewing Blvd.⁽²⁾	Princeton, NJ	12/28/2012	2009	110,765	100.0	%	28,310
1400 Perimeter Park Drive	Raleigh, NC	3/1/2013	1991	44,916	100.0	%	6,165
22535 Colonial Pkwy	Houston, TX	3/1/2013	2009	89,750	100.0	%	17,673
3900 North Paramount Parkway	Raleigh, NC	3/1/2013	1999	100,987	100.0	%	18,523
3900 South Paramount Parkway	Raleigh, NC	3/1/2013	1999	119,170	100.0	%	20,859
Atrium I	Columbus, OH	3/1/2013	1996	315,102	100.0	%	45,071
Celebration Office Center III	Orlando, FL	3/1/2013	2009	100,924	100.0	%	18,420
Easton III	Columbus, OH	3/1/2013	1999	135,485	100.0	%	20,194
McAuley Place	Cincinnati, OH	3/1/2013	2001	190,096	94.0	%	32,309
Miramar I⁽³⁾	Ft. Lauderdale, FL	3/1/2013	2001	94,060	100.0	%	23,912
Miramar II	Ft. Lauderdale, FL	3/1/2013	2001	128,540	100.0	%	31,910
Norman Pointe I	Minneapolis, MN	3/1/2013	2000	212,722	93.0	%	36,232
Norman Pointe II	Minneapolis, MN	3/1/2013	2007	324,296	97.0	%	46,113
Northpoint III	Orlando, FL	3/1/2013	2001	108,499	100.0	%	22,394
Point West I	Dallas, TX	3/1/2013	2008	182,700	100.0	%	31,795
The Landings I	Cincinnati, OH	3/1/2013	2006	175,695	100.0	%	30,249
The Landings II	Cincinnati, OH	3/1/2013	2007	175,076	94.0	%	23,977
Carpenter Corporate Center I & II⁽²⁾	Dallas, TX	7/31/2013	2008	226,822	100.0	%	49,509
Total Consolidated Office⁽⁵⁾			2000	7,283,620	98.9	%	$	1,661,409

Supplemental Information | First Quarter 2015 | 19

CHAMBERS STREET PROPERTIES (continued)

Our Properties

As of March 31, 2015

($ in Thousands)



Property and Market		Date Acquired	Year Built	Net Rentable Square Feet	Percentage Leased		Approximate Total Acquisition Cost⁽¹⁾

Unconsolidated Office
Aspen Corporate Center 500⁽²⁾⁽⁷⁾	Nashville, TN	9/30/2008	2008	180,147	100.0	%	$	29,936
West Lake at Conway⁽⁷⁾	Chicago, IL	3/24/2011	2008	98,304	100.0	%	14,060
Weston Pointe I⁽⁷⁾	Ft. Lauderdale, FL	3/24/2011	1999	97,579	96.0	%	15,507
Weston Pointe II⁽⁷⁾	Ft. Lauderdale, FL	3/24/2011	2000	97,180	96.0	%	18,701
Weston Pointe III⁽⁷⁾	Ft. Lauderdale, FL	3/24/2011	2003	97,178	100.0	%	18,867
Weston Pointe IV⁽⁷⁾	Ft. Lauderdale, FL	3/24/2011	2006	96,175	100.0	%	22,605
Total Unconsolidated Office⁽⁵⁾⁽⁶⁾			2004	666,563	98.9	%	$	119,676
Total Office⁽⁵⁾			2001	7,950,183	98.9	%	$	1,781,085
Total Properties⁽⁵⁾			2003	37,618,745	98.4	%	$	3,346,405

__________


(1)	Approximate acquisition cost for unconsolidated properties is at our pro rata share of effective ownership.


(2)	This property is unencumbered.


(3)	Includes undeveloped land zoned for future office and industrial use.


(4)	Acquisition cost includes cost for undeveloped land acquired in February 2015.


(5)	Total or weighted average. Weighted average Year Built is weighted based upon approximate Total Acquisition Costs. Weighted average Percentage Leased is weighted based upon Net Rentable Square Feet.


(6)	Does not include properties held through our investment in CBRE Strategic Partners Asia.


(7)	This property is held through the Duke JV.


(8)	This property is held through the UK JV.


(9)	This property is held through the European JV.

Supplemental Information | First Quarter 2015 | 20

CHAMBERS STREET PROPERTIES

Geographic Distribution

As of March 31, 2015

($ in Thousands)



	Consolidated Properties				Unconsolidated Properties⁽¹⁾				Consolidated & Unconsolidated Properties⁽¹⁾				% of Approx-imate Acqui- sition Cost
	Proper- ties	Net Rentable Square Feet	Approx- imate Acquisition Cost		Proper- ties	Net Rentable Square Feet	Approx- imate Acquisition Cost		Proper- ties	Net Rentable Square Feet	Approx- imate Acquisition Cost		% of Approx-imate Acqui- sition Cost
Domestic
New Jersey	6	1,478,106	$	506,760	—	—	$	—	6	1,478,106	$	506,760	15.1	%
Florida	7	1,475,523	162,304		6	1,296,534	112,826		13	2,772,057	275,130		8.2	%
Texas	10	2,502,585	233,802		1	822,550	25,690		11	3,325,135	259,492		7.8	%
California	8	1,202,689	193,567		—	—	—		8	1,202,689	193,567		5.8	%
South Carolina	28	3,807,037	189,921		—	—	—		28	3,807,037	189,921		5.7	%
Ohio	5	991,454	151,800		1	1,142,400	38,088		6	2,133,854	189,888		5.7	%
Pennsylvania	5	1,944,289	187,874		—	—	—		5	1,944,289	187,874		5.6	%
Virginia	3	839,398	186,723		—	—	—		3	839,398	186,723		5.6	%
Arizona	3	1,433,985	129,258		1	1,009,351	52,797		4	2,443,336	182,055		5.4	%
Minnesota	5	1,269,333	144,604		—	—	—		5	1,269,333	144,604		4.3	%
Illinois	4	2,137,111	128,520		1	98,304	14,060		5	2,235,415	142,580		4.3	%
Indiana	1	622,440	30,200		2	2,236,993	84,112		3	2,859,433	114,312		3.4	%
North Carolina	8	1,625,366	111,884		—	—	—		8	1,625,366	111,884		3.3	%
Massachusetts	3	768,975	94,280		—	—	—		3	768,975	94,280		2.8	%
Maryland	2	1,472,798	92,379		—	—	—		2	1,472,798	92,379		2.8	%
Kansas	1	1,107,000	62,950		—	—	—		1	1,107,000	62,950		1.9	%
Tennessee	—	—	—		1	180,147	29,936		1	180,147	29,936		0.9	%
Colorado	1	406,959	24,500		—	—	—		1	406,959	24,500		0.7	%
Kentucky	1	189,400	14,800		—	—	—		1	189,400	14,800		0.4	%
Total Domestic	101	25,274,448	2,646,126		13	6,786,279	357,509		114	32,060,727	3,003,635		89.7	%

International
Germany	—	—	—		8	3,995,219	220,009		8	3,995,219	220,009		6.6	%
France	—	—	—		1	970,765	62,746		1	970,765	62,746		1.9	%
United Kingdom	1	50,502	23,847		3	541,532	36,168		4	592,034	60,015		1.8	%
Total International	1	50,502	23,847		12	5,507,516	318,923		13	5,558,018	342,770		10.3	%
Total	102	25,324,950	$	2,669,973	25	12,293,795	$	676,432	127	37,618,745	$	3,346,405	100.0	%

__________


(1)	Includes unconsolidated properties held through our Duke JV, European JV and UK JV. Number of Properties and Net Rentable Square Feet are included at 100% and Approximate Acquisition Cost is at our pro rata share of effective ownership.

Supplemental Information | First Quarter 2015 | 21

CHAMBERS STREET PROPERTIES

Significant Tenants

As of March 31, 2015 (unaudited)

($ in Thousands)



			Credit Rating⁽¹⁾		Consolidated & Unconsolidated Properties⁽²⁾					% of Cash An-nual- ized Base Rent
	Major Tenants⁽³⁾	Primary Industry	S&P	Moody's	Net Rentable Square Feet	Annualized Base Rent
	Major Tenants⁽³⁾	Primary Industry	S&P	Moody's	Net Rentable Square Feet	Cash		GAAP⁽⁴⁾

1	Amazon.com	Internet Retail	AA-	Baa1	6,540,667	$	26,022	$	25,161	9.8	%
2	Raytheon Company	Defense and Aerospace	A	A3	666,290	10,582		11,248		4.0	%
3	Lord Abbett & Co.	Financial Services	—	—	272,127	10,069		10,370		3.8	%
4	U.S. General Services Administration	Government	AA+	Aa1	418,682	9,958		10,174		3.7	%
5	JP Morgan Chase	Financial Services	A	A3	396,179	6,212		6,626		2.3	%
6	Endo Health Solutions Inc.	Pharmaceutical and Healthcare Related	—	—	299,809	5,846		6,338		2.2	%
7	Nuance Communications, Inc.	Software	BB-	Ba3	200,605	5,842		5,842		2.2	%
8	Comcast of California	Telecommunications	A-	A3	219,631	5,205		5,042		2.0	%
9	Eisai, Inc.	Pharmaceutical and Healthcare Related	—	—	208,911	5,189		5,217		2.0	%
10	PPD Development LP	Pharmaceutical and Healthcare Related	B	B3	251,475	4,991		4,643		1.9	%
11	Charles Komar & Sons, Inc.	Apparel Retail	—	—	159,341	4,933		4,093		1.9	%
12	The Coleman Company, Inc.	Consumer Products	BB	Ba3	1,107,000	4,760		4,569		1.8	%
13	Deloitte LLP	Professional Services	—	—	175,000	4,740		4,660		1.8	%
14	Barclay's Capital⁽⁵⁾	Financial Services	A	A2	409,272	4,582		2,221		1.7	%
15	Barr Laboratories, LLC	Pharmaceutical and Healthcare Related	A-	A3	142,500	4,489		4,426		1.7	%
16	Clorox International Co	Consumer Products	BBB+	Baa1	1,350,000	4,484		4,429		1.7	%
17	Unilever	Consumer Products	A+	A1	1,594,760	4,250		4,058		1.6	%
18	Nationwide Mutual Insurance Co	Insurance	A+	A1	315,102	3,808		3,761		1.4	%
19	Humana	Pharmaceutical and Healthcare Related	BBB+	Baa3	226,822	3,788		3,731		1.4	%
20	Carl Zeiss Meditec	Pharmaceutical and Healthcare Related	—	—	201,620	3,770		3,395		1.4	%
21	ConAgra Foods Packaged Foods, LLC	Food Service and Retail	BBB-	Baa2	741,860	3,423		3,269		1.3	%
22	Whirlpool Corporation	Consumer Products	BBB	Baa2	1,020,000	3,385		3,429		1.3	%
23	Kimberly-Clark Global Sales, Inc.	Consumer Products	A	A2	744,080	3,348		3,279		1.3	%
24	Space Exploration Technologies Corp	Defense and Aerospace	—	—	514,753	3,348		3,913		1.3	%
25	SBM Atlantia, Inc.	Petroleum and Mining	—	—	171,091	3,293		2,659		1.2	%
26	Prime Distribution Services	Logistics Distribution	—	—	1,200,420	3,256		3,038		1.2	%
27	NCS Pearson, Inc.	Education	BBB+	Baa1	167,218	3,201		2,794		1.2	%
28	Bob's Discount Furniture	Home Furnishings/Home Improvement	—	—	672,000	3,098		3,154		1.2	%
29	Noxell Corporation	Consumer Products	—	—	800,797	3,088		3,274		1.2	%
30	Kellogg Sale Company	Consumer Products	BBB+	Baa2	1,142,400	3,033		2,854		1.1	%
31	Royal Caribbean Cruises Ltd	Travel/Leisure	BB	Ba1	128,540	2,893		2,462		1.1	%
32	Time Warner Cable Inc.	Telecommunications	BBB	Baa2	134,000	2,814		2,655		1.1	%
33	REMEC Defense and Space	Defense and Aerospace	—	—	132,685	2,736		2,753		1.0	%
34	Syngenta Seeds Inc	Agriculture	A+	A2	116,338	2,728		2,575		1.0	%
35	American Home Mortgage	Financial Services	—	—	182,700	2,713		2,676		1.0	%
36	Dr Pepper / Seven Up, Inc.	Food Service and Retail	BBB+	Baa1	601,500	2,611		2,696		1.0	%
37	Citicorp North America, Inc.	Financial Services	A	Baa2	175,695	2,574		2,551		1.0	%
38	Mercy Health Partners of SW Ohio	Pharmaceutical and Healthcare Related	—	A1	124,671	2,566		2,099		1.0	%
39	Disney Vacation Development	Travel/Leisure	A	A2	100,924	2,533		2,121		1.0	%
40	Verizon Wireless	Telecommunications	BBB+	Baa1	180,147	2,519		2,408		0.9	%
	Other (approx 146) tenants				12,795,956	73,348		70,584		27.6	%
					37,003,568	$	266,028	$	257,247	100.0	%

__________


(1)	Credit rating is for our tenant, its guarantor or its parent company.


(2)	Includes unconsolidated properties held through our Duke JV, European JV and UK JV. Net Rentable Square Feet is at 100% and annualized base rent is at our pro rata share of effective ownership.


(3)	In certain cases in which our tenant is a wholly-owned subsidiary of its parent company, the parent company is listed as our tenant.


(4)	Includes amortization of straight line rent, above-market leases and lease inducement, if applicable. Excludes operating expense reimbursements.


(5)	In accordance with the provisions of the loan secured by our 70 Hudson Street property, beginning in February 2015, the property's cash flow in excess of interest and operating expenses is being reserved by the lender. As a result, we are only able to recognize a portion of this tenant's annualized base rental revenue. The rents in this table are presented at the adjusted amounts.

Supplemental Information | First Quarter 2015 | 22

CHAMBERS STREET PROPERTIES

Tenant Industry Profile

As of March 31, 2015

($ in Thousands)



Primary Tenant Industry Category	Consolidated Properties			Unconsolidated Properties⁽¹⁾			Consolidated & Unconsolidated Properties⁽¹⁾			% of Annual- ized Base Rent
Primary Tenant Industry Category	Net Rentable Square Feet	Annualized Base Rent		Net Rentable Square Feet	Annualized Base Rent		Net Rentable Square Feet	Annualized Base Rent		% of Annual- ized Base Rent

Pharmaceutical and Healthcare Related	1,818,781	$	32,304	291,154	$	2,376	2,109,935	$	34,680	13.0	%
Consumer Products	5,921,554	22,053		3,327,772	9,770		9,249,326	31,823		12.0	%
Financial Services⁽²⁾	1,729,136	29,514		32,550	580		1,761,686	30,094		11.3	%
Internet Retail	1,435,984	7,626		5,104,683	18,396		6,540,667	26,022		9.8	%
Defense and Aerospace	1,385,235	18,454		—	—		1,385,235	18,454		6.9	%
Logistics Distribution	1,375,661	5,676		2,569,073	8,797		3,944,734	14,473		5.4	%
Food Service and Retail	2,952,905	12,750		—	—		2,952,905	12,750		4.8	%
Telecommunications	720,624	9,947		180,147	2,519		900,771	12,466		4.7	%
Government	285,179	6,579		133,503	3,379		418,682	9,958		3.7	%
Insurance	484,354	6,963		3,005	48		487,359	7,011		2.6	%
Education	275,421	5,381		97,178	1,567		372,599	6,948		2.6	%
Apparel Retail	313,612	6,842		—	—		313,612	6,842		2.6	%
Professional Services	283,127	6,264		35,061	564		318,188	6,828		2.6	%
Vehicle Related Manufacturing	1,096,413	4,795		320,463	1,504		1,416,876	6,299		2.4	%
Software	200,605	5,842		15,424	253		216,029	6,095		2.3	%
Travel/Leisure	229,464	5,427		12,662	232		242,126	5,659		2.1	%
Business Services	982,227	5,517		6,240	102		988,467	5,619		2.1	%
Other Manufacturing	1,327,377	5,030		36,588	539		1,363,965	5,569		2.1	%
Agriculture	227,103	5,010		—	—		227,103	5,010		1.9	%
Specialty Retail	689,740	3,929		—	—		689,740	3,929		1.5	%
Home Furnishings/Home Improvement	672,000	3,098		109,318	402		781,318	3,500		1.3	%
Petroleum and Mining	171,091	3,293		—	—		171,091	3,293		1.2	%
Utilities	108,499	1,683		—	—		108,499	1,683		0.6	%
Non-Profit	30,895	815		—	—		30,895	815		0.3	%
Executive Office Suites	—	—		11,760	208		11,760	208		0.1	%
Total	24,716,987	$	214,792	12,286,581	$	51,236	37,003,568	$	266,028	100.0	%

__________


(1)	Includes unconsolidated properties held through our Duke JV, European JV and UK JV. Net Rentable Square Feet is included at 100% and Annualized Base Rent is at our pro rata share of effective ownership.

(2)

In accordance with the provisions of the loan secured by our 70 Hudson Street property, beginning in February 2015, the property's cash flow in excess of interest and operating expenses is being reserved by the lender. As a result, we are only able to recognize a portion of the property's financial services tenant's annualized base rental revenue. The rents in this table are presented at the adjusted amounts.

Supplemental Information | First Quarter 2015 | 23

CHAMBERS STREET PROPERTIES

Tenant Lease Expirations

As of March 31, 2015

($ in Thousands, Except for Expiring Base Rent per Square Feet)



Year of Lease Expiration	Number of Expiring Leases⁽¹⁾	Net Rentable Square Feet⁽¹⁾	Percentage of Total Net Rentable Square Feet⁽¹⁾		Expiring Base Rent⁽²⁾		Percentage of Expiring Base Rent⁽²⁾		Expiring Base Rent per Square Feet⁽¹⁾
Industrial Properties:
Remaining 2015	9	837,915	3.0	%	$	3,695	3.1	%	$	4.41
2016	8	1,146,977	3.9	%	5,854		4.8	%	5.10
2017	11	2,102,342	7.2	%	9,518		7.7	%	4.53
2018	10	3,205,692	11.0	%	12,425		10.1	%	3.88
2019	17	5,883,069	20.2	%	23,395		18.9	%	3.98
2020	7	1,728,538	5.9	%	7,487		6.0	%	4.33
2021	11	5,667,871	19.4	%	21,532		17.5	%	3.80
2022	3	1,654,371	5.7	%	7,251		5.9	%	4.38
2023	8	3,708,101	12.7	%	16,351		13.3	%	4.41
2024	1	22,400	0.1	%	200		0.2	%	8.93
Thereafter	8	3,186,440	10.9	%	15,346		12.5	%	4.82
	93	29,143,716	100.0	%	$	123,054	100.0	%	$	4.22
Office Properties:
Remaining 2015	10	80,005	1.0	%	$	1,658	1.0	%	$	20.72
2016⁽³⁾	21	1,178,620	15.0	%	20,052		12.1	%	17.01
2017	12	497,498	6.3	%	10,173		6.2	%	20.45
2018	20	906,449	11.5	%	18,357		11.1	%	20.25
2019	10	774,407	9.9	%	14,185		8.6	%	18.32
2020	11	549,146	7.0	%	14,322		8.7	%	26.08
2021	10	1,246,395	15.9	%	25,297		15.3	%	20.30
2022	4	372,542	4.7	%	6,991		4.2	%	18.77
2023	11	832,385	10.6	%	19,331		11.7	%	23.22
2024	4	694,461	8.8	%	19,923		12.1	%	28.69
Thereafter	10	727,944	9.3	%	14,831		9.0	%	20.37
	123	7,859,852	100.0	%	$	165,120	100.0	%	$	21.01

Supplemental Information | First Quarter 2015 | 24

CHAMBERS STREET PROPERTIES (continued)

Tenant Lease Expirations

As of March 31, 2015

($ in Thousands, Except for Expiring Base Rent per Square Feet)



Year of Lease Expiration	Number of Expiring Leases⁽¹⁾	Net Rentable Square Feet⁽¹⁾	Percentage of Total Net Rentable Square Feet⁽¹⁾		Expiring Base Rent⁽²⁾		Percentage of Expiring Base Rent⁽²⁾		Expiring Base Rent per Square Feet⁽¹⁾
Total Properties
Remaining 2015	19	917,920	2.5	%	$	5,353	1.9	%	$	5.83
2016⁽³⁾	29	2,325,597	6.3	%	25,906		9.0	%	11.14
2017	23	2,599,840	7.0	%	19,691		6.8	%	7.57
2018	30	4,112,141	11.1	%	30,782		10.7	%	7.49
2019	27	6,657,476	18.0	%	37,580		13.0	%	5.64
2020	18	2,277,684	6.2	%	21,809		7.6	%	9.58
2021	21	6,914,266	18.6	%	46,829		16.3	%	6.77
2022	7	2,026,913	5.5	%	14,242		4.9	%	7.03
2023	19	4,540,486	12.3	%	35,682		12.4	%	7.86
2024	5	716,861	1.9	%	20,123		7.0	%	28.07
Thereafter	18	3,914,384	10.6	%	30,177		10.4	%	7.71
	216	37,003,568	100.0	%	$	288,174	100.0	%	$	7.79

__________


(1)	Includes amounts related to our unconsolidated properties held through our Duke JV, European JV and UK JV at 100%.


(2)	Includes amounts related to our unconsolidated properties held through our Duke JV, European JV and UK JV at our pro rata share of effective ownership.

(3)

In accordance with the provisions of the loan secured by our 70 Hudson Street property, beginning in February 2015, the property's cash flow in excess of interest and operating expenses is being reserved by the lender. As a result, we are only able to recognize a portion of the property's tenant's annualized base rental revenue. The tenant's lease expires in 2016. The rents in this table are presented at the adjusted amounts.



	Consolidated Properties	Unconsolidated Properties⁽¹⁾	Consolidated & Unconsolidated Properties⁽¹⁾
Weighted Average Remaining Term (Years)⁽²⁾:
Triple Net Single-Tenant Properties⁽³⁾⁽⁴⁾	6.49	6.10	6.40
Multi-Tenant Properties	7.09	5.13	6.82
Other Single-Tenant Properties	4.02	4.75	4.10
Total Weighted Average Remaining Term (Years)⁽²⁾	6.42	5.92	6.33

__________


(1)	Includes pro rata share of unconsolidated properties except those held through CBRE Strategic Partners Asia.


(2)	Weighted Average Remaining Term is the average remaining term weighted by Expiring Base Rent.


(3)	Triple Net Single-Tenant Properties include certain properties that have minimal secondary tenant(s).

(4)

In accordance with the provisions of the loan secured by our 70 Hudson Street property, beginning in February 2015, the property's cash flow in excess of interest and operating expenses is being reserved by the lender. As a result, we are only able to recognize a portion of the property's tenant's annualized base rental revenue. The tenant's lease expires in 2016. The weighted average remaining term is calculated based on the adjusted rent amount.

Supplemental Information | First Quarter 2015 | 25

CHAMBERS STREET PROPERTIES

Percentage Leased

As of March 31, 2015



	Three Months Ended March 31, 2015
	Consolidated Properties		Unconsolidated Properties⁽¹⁾		Consolidated and Unconsolidated Properties⁽¹⁾
Amounts at Beginning of Period
Total Net Rentable Square Feet	25,324,950		12,415,882		37,740,832
Leased Square Feet	24,682,268		12,406,527		37,088,795
Leased Percentage	97.5	%	99.9	%	98.3	%
Activity During the Quarter
Leasing:
New Leases	108,677		3,603		112,280
Contractions	(20,000	)	—		(20,000	)
Total Leasing Activity	88,677		3,603		92,280
Expirations and Terminations:
Expiring Square Footage	(53,958	)	(1,462	)	(55,420	)
Net Leasing Activity	34,719		2,141		36,860
Dispositions:
Leased Square Feet Disposed	—		(122,087	)	(122,087	)
Amounts at End of Period
Total Net Rentable Square Feet	25,324,950		12,293,795		37,618,745
Leased Square Feet	24,716,987		12,286,581		37,003,568
Leased Percentage	97.6	%	99.9	%	98.4	%

__________


(1)	Amounts for unconsolidated properties are at 100%.

Supplemental Information | First Quarter 2015 | 26

CHAMBERS STREET PROPERTIES

Tenant Leasing Activity

As of March 31, 2015

($ in Thousands)



		Prior Lease⁽¹⁾				New Lease⁽¹⁾
	Square Feet	Annualized Base Rent⁽²⁾				Annualized Base Rent⁽²⁾				Tenant Improve- ments & Leasing Commis- sions⁽⁴⁾		Average Lease Term (in years)⁽⁵⁾
	Square Feet	Cash		GAAP⁽³⁾		Cash		GAAP⁽³⁾		Tenant Improve- ments & Leasing Commis- sions⁽⁴⁾		Average Lease Term (in years)⁽⁵⁾
Industrial Properties
Consolidated
Renewals	128,356	$	428	$	428	$	428	$	440	$	113	3.21
New Tenants - Previously Leased Space⁽⁶⁾	68,800	216		216		216		222		70		3.25
New Tenants - Not Previously Leased Space⁽⁷⁾	9,100	—		—		29		29		9		3.25
Total Consolidated	206,256	644		644		673		691		192		3.22
Consolidated & Unconsolidated
Renewals	128,356	428		428		428		440		113		3.21
New Tenants - Previously Leased Space⁽⁶⁾	68,800	216		216		216		222		70		3.25
New Tenants - Not Previously Leased Space⁽⁷⁾	9,100	—		—		29		29		9		3.25
Total Consolidated & Unconsolidated	206,256	644		644		673		691		192		3.22
Office Properties
Consolidated
Renewals	11,061	161		155		182		181		118		3.94
New Tenants - Previously Leased Space	30,777	626		626		626		626		—		2.00
Total Consolidated	41,838	787		781		808		807		118		2.44
Unconsolidated
New Tenants - Not Previously Leased Space⁽⁶⁾	3,603	—		—		66		72		130		7.00
Total Unconsolidated	3,603	—		—		66		72		130		7.00
Consolidated & Unconsolidated
Renewals	11,061	161		155		182		181		118		3.94
New Tenants - Previously Leased Space⁽⁶⁾	30,777	626		626		626		626		—		2.00
New Tenants - Not Previously Leased Space⁽⁷⁾	3,603	—		—		66		72		130		7.00
Total Consolidated & Unconsolidated	45,441	787		781		874		879		248		2.78
Total Properties
Consolidated
Renewals	139,417	589		583		610		621		231		3.43
New Tenants - Previously Leased Space⁽⁶⁾	99,577	842		842		842		848		70		2.32
New Tenants - Not Previously Leased Space⁽⁷⁾	9,100	—		—		29		29		9		3.25
Total Consolidated	248,094	1,431		1,425		1,481		1,498		310		2.79
Unconsolidated
New Tenants - Not Previously Leased Space⁽⁶⁾	3,603	—		—		66		72		130		7.00
Total Unconsolidated	3,603	—		—		66		72		130		7.00
Consolidated & Unconsolidated
Renewals	139,417	589		583		610		621		231		3.43
New Tenants - Previously Leased Space⁽⁶⁾	99,577	842		842		842		848		70		2.32
New Tenants - Not Previously Leased Space⁽⁷⁾	12,703	—		—		95		101		139		5.87
Total Consolidated & Unconsolidated	251,697	$	1,431	$	1,425	$	1,547	$	1,570	$	440	2.97

__________


(1)	Prior lease amounts represent rents in place at the time of expiration or termination. New lease amounts represent rents in place at the time of lease commencement. For certain leases, prior lease amounts are adjusted for comparability to new lease amounts (i.e. if a prior lease is gross and the new lease is net, the prior amounts are adjusted accordingly).


(2)	Annualized base rent amounts for unconsolidated properties are included at pro rata share.


(3)	GAAP amounts for prior leases include above/below market rents if applicable.


(4)	Includes tenant improvement costs and lease commissions incurred to execute the lease and not necessarily paid in the current quarter.


(5)	Weighted average initial lease term (in years) weighted by annualized cash base rent.


(6)	Represents leases signed to new tenants for space that was previously leased since the later of (i) twelve months ago or (ii) the date we acquired the property.


(7)	Represents leases signed to new tenants for space that was not previously leased since the later of (i) twelve months ago or (ii) the date we acquired the property.

Supplemental Information | First Quarter 2015 | 27

CHAMBERS STREET PROPERTIES

Capital Structure and Debt Maturities

As of March 31, 2015

($ in Thousands)



	Number of Outstanding Shares	Balance at March 31, 2015		Percentage
Debt
Secured Notes Payable⁽¹⁾		$	568,251	16.8	%
Pro Rata Share of Unconsolidated Debt		141,476		4.2	%
Unsecured Term Loan Facilities		570,000		16.9	%
Unsecured Revolving Credit Facility		235,044		7.0	%
Total Debt		1,514,771		44.9	%
Equity
Common Shares⁽²⁾	236,861,496	1,866,469		55.1	%
Total Market Capitalization		$	3,381,240	100.0	%

__________


(1)	Amounts are presented excluding the effect of net premiums.


(2)	Value based on our closing share price on the NYSE of $7.88 as of March 31, 2015.



Debt Maturities

	Consolidated Debt⁽¹⁾						Unconsolidated Debt⁽²⁾						Consolidated & Unconsolidated Debt⁽¹⁾⁽²⁾						Weigh- ted Average Interest Rate⁽³⁾⁽⁴⁾
	Sche- duled Amorti- zation		Term Maturities		Total		Sche- duled Amorti- zation		Term Maturities		Total		Sche- duled Amorti- zation		Term Maturities		Total		Weigh- ted Average Interest Rate⁽³⁾⁽⁴⁾
Remaining 2015	$	11,732	$	92,228	$	103,960	$	675	$	—	$	675	$	12,407	$	92,228	$	104,635	4.41	%
2016	13,271		121,341		134,612		941		—		941		14,212		121,341		135,553		5.46	%
2017	12,495		34,327		46,822		990		53,960		54,950		13,485		88,287		101,772		3.82	%
2018	10,276		497,336		507,612		1,042		—		1,042		11,318		497,336		508,654		2.26	%
2019	7,982		300,786		308,768		1,097		—		1,097		9,079		300,786		309,865		2.58	%
2020	6,290		65,846		72,136		1,156		41,958		43,114		7,446		107,804		115,250		3.87	%
2021	3,743		190,449		194,192		875		38,782		39,657		4,618		229,231		233,849		4.78	%
2022	1,870		—		1,870		—		—		—		1,870		—		1,870		—	%
2023	1,987		—		1,987		—		—		—		1,987		—		1,987		—	%
2024	1,167		—		1,167		—		—		—		1,167		—		1,167		6.33	%
Thereafter	169		—		169		—		—		—		169		—		169		5.80	%
Total	$	70,982	$	1,302,313	$	1,373,295	$	6,776	$	134,700	$	141,476	$	77,758	$	1,437,013	$	1,514,771	3.70	%

__________


(1)	Consolidated debt amount includes a $235.0 million outstanding balance on the unsecured revolving credit facility as of March 31, 2015. The unsecured revolving credit facility expires January 15, 2018. We have an option to extend the maturity date by one year.


(2)	Unconsolidated debt amounts are at our pro rata share of effective ownership.


(3)	Weighted average interest rate is calculated using the maturity date of our various debt.


(4)	Weighted average interest rate for 2018 debt maturity consists of 1.47% floating interest rate for the revolving credit facility and 2.93% of interest rate for all other fixed rate debt.

Supplemental Information | First Quarter 2015 | 28

CHAMBERS STREET PROPERTIES

Debt Composition

As of March 31, 2015

($ in Thousands)



	Consolidated Debt⁽¹⁾							Unconsolidated Debt⁽²⁾							Consolidated & Unconsolidated Debt⁽¹⁾⁽²⁾
	Scheduled Amortization		Term Maturities		Total			Scheduled Amortization		Term Maturities		Total			Scheduled Amortization		Term Maturities		Total
Amount
Fixed Interest Rate Debt	$	70,982	$	1,067,269	$	1,138,251		$	6,776	$	134,700	$	141,476		$	77,758	$	1,201,969	$	1,279,727
Floating Interest Rate Debt	—		235,044		235,044			—		—		—			—		235,044		235,044
Total	$	70,982	$	1,302,313	$	1,373,295		$	6,776	$	134,700	$	141,476		$	77,758	$	1,437,013	$	1,514,771
Weighted Average Remaining Term (years)
Fixed Interest Rate Debt					3.61							4.72							3.73
Floating Interest Rate Debt					2.79							N/A							2.79
Total					3.47							4.72							3.58
Weighted Average Interest Rate
Fixed Interest Rate Debt					4.18		%					3.47		%					4.10		%
Floating Interest Rate Debt					1.47		%					N/A							1.47		%
Total					3.72		%					3.47		%					3.70		%

__________


(1)	Consolidated debt amount includes a $235.0 million outstanding balance on the unsecured revolving credit facility as of March 31, 2015. The unsecured revolving credit facility expires January 15, 2018. We may exercise an option to extend the maturity date by one year. The annual facility fee of 0.30% is not reflected in the interest rate amounts included in this table.


(2)	Unconsolidated debt amounts are at our pro rata share of effective ownership.



Encumbered/Unencumbered Properties

	Consolidated Properties					Unconsolidated Properties⁽¹⁾					Consolidated & Unconsolidated Properties⁽¹⁾
	Properties	Approximate Acquisition Cost		Debt Balance		Properties	Approximate Acquisition Cost		Debt Balance		Properties	Approximate Acquisition Cost		Debt Balance
Encumbered Properties	39	$	1,148,861	$	568,251	12	$	334,106	$	141,476	51	$	1,482,967	$	709,727
Unencumbered Properties	63	1,521,112		—		13	342,326		—		76	1,863,438		—
Total Properties	102	$	2,669,973	$	568,251	25	$	676,432	$	141,476	127	$	3,346,405	$	709,727

__________


(1)	Number of Properties is at 100%. Approximate Acquisition Cost and Debt Balance for Unconsolidated Properties is at our pro rata share of effective ownership. Does not include our investment in CBRE Strategic Partners Asia.

Supplemental Information | First Quarter 2015 | 29

CHAMBERS STREET PROPERTIES

Consolidated Debt

As of March 31, 2015

(In Thousands)



Property	Stated Interest Rate	Effective Interest Rate⁽¹⁾	Maturity Date	Outstanding Balance

Lakeside Office Center	6.03%	6.03%	9/1/2015	$	8,585
Celebration Office Center III	4.25%	2.50%	12/1/2015	8,770
22535 Colonial Pkwy	4.25%	2.50%	12/1/2015	7,847
Northpoint III	4.25%	2.50%	12/1/2015	10,155
Goodyear Crossing II	4.25%	2.50%	12/1/2015	19,386
3900 North Paramount Parkway	4.25%	2.50%	12/1/2015	7,616
3900 South Paramount Parkway	4.25%	2.50%	12/1/2015	7,616
1400 Perimeter Park Drive	4.25%	2.50%	12/1/2015	2,308
Miramar I	4.25%	2.50%	12/1/2015	9,047
Miramar II	4.25%	2.50%	12/1/2015	12,185
70 Hudson Street	5.65%	5.15%	4/11/2016	113,570
Point West I - Swapped to Fixed	3.41%	3.41%	12/6/2016	10,635
100 Tice Blvd	5.97%	4.38%	9/15/2017	18,808
100 Tice Blvd	5.97%	4.38%	9/15/2017	18,808
4701 Gold Spike Drive	4.45%	4.45%	3/1/2018	9,908
1985 International Way	4.45%	4.45%	3/1/2018	6,883
3660 Deerpark Boulevard	4.45%	4.45%	3/1/2018	7,117
Tolleson Commerce Park II	4.45%	4.45%	3/1/2018	4,280
20000 S. Diamond Lake Road	4.45%	4.45%	3/1/2018	6,233
Atrium I - Swapped to Fixed	3.78%	3.78%	5/31/2018	21,346
McAuley Place	3.98%	3.50%	9/1/2018	12,771
Easton III - Swapped to Fixed	3.95%	3.95%	1/31/2019	6,234
90 Hudson Street	5.66%	5.26%	5/1/2019	102,880
Fairforest Bldg. 6	5.42%	6.50%	6/1/2019	1,664
North Rhett I	5.65%	6.50%	8/1/2019	1,843
Kings Mountain II	5.47%	6.50%	1/1/2020	3,318
1 Rocket Road	6.60%	4.00%	8/1/2020	18,413
North Rhett II	5.20%	6.50%	10/1/2020	1,372
Mount Holly Bldg.	5.20%	6.50%	10/1/2020	1,372
Orangeburg Park Bldg.	5.20%	6.50%	10/1/2020	1,395
Kings Mountain I	5.27%	6.50%	10/1/2020	1,189
Ten Parkway North	4.75%	4.75%	1/1/2021	11,388
Union Cross Bldg. II	5.53%	6.50%	6/1/2021	5,570
Union Cross Bldg. I	5.50%	6.50%	7/1/2021	1,832
Norman Pointe I	5.24%	3.50%	10/1/2021	20,091
Norman Pointe II	5.24%	3.50%	10/1/2021	22,119
The Landings I	5.24%	3.50%	10/1/2021	15,120
The Landings II	5.24%	3.50%	10/1/2021	13,336
Fairforest Bldg. 5	6.33%	6.50%	2/1/2024	7,522
North Rhett IV	5.80%	6.50%	2/1/2025	7,719
Total Secured Notes Payable				568,251
Plus Premium				14,291
Less Discount				(836		)
Total Secured Notes Payable, Net				$	581,706
WF Term Loan #2		2.49%	3/7/2018	$	200,000
WF Term Loan #3		3.12%	1/15/2019	200,000
TD Term Loan		3.28%	3/6/2020	50,000
Capital One Term Loan		4.32%	1/31/2021	120,000
Total Unsecured Term Loans				$	570,000
Revolving Credit Facility		1.47%	1/15/2018	$	235,044

__________


(1)	Represents the rate at which interest expense is recorded for financial reporting purposes, which reflects the amortization of any discounts/premiums, excluding debt issuance costs.

Supplemental Information | First Quarter 2015 | 30

CHAMBERS STREET PROPERTIES

Unconsolidated Debt

As of March 31, 2015

(In Thousands)



Property	Stated Interest Rate	Effective Interest Rate	Maturity Date	Outstanding Balance⁽¹⁾

Graben Distribution Center I & II	2.39%	2.39%	7/27/2017	$	26,701
Koblenz Distribution Center	2.27%	2.27%	11/11/2017	27,259
Hansaline Distribution Center	3.01%	3.01%	11/25/2020	10,131
Bodenheim Logistikzentrum	3.01%	3.01%	11/25/2020	9,719
Lille-Douai Distribution Center	3.13%	3.13%	12/17/2020	22,108
Fairfield Distribution Ctr. IX	5.00%	5.00%	9/1/2021	3,452
West Lake at Conway	5.00%	5.00%	9/1/2021	7,200
Weston Pointe I - IV	5.24%	5.24%	10/1/2021	34,906
Total Unconsolidated Debt				$	141,476

__________


(1)	Amounts are at our pro rata share of effective ownership.

Supplemental Information | First Quarter 2015 | 31

CHAMBERS STREET PROPERTIES

Non-GAAP Supplemental Financial Measures:

Annualized Base Rent

Annualized Base Rent for each lease equals (i) 12 times the monthly cash base rent due as of March 31, 2015, or (ii) for any lease still in an initial free or reduced rent period as of March 31, 2015, 12 times the monthly cash base rent due upon expiration of the initial free or reduced rent period.

Net Operating Income

Net operating income ("NOI") is designed to reflect the operating performance of our portfolio by excluding certain items that are not considered to be controllable in connection with the management of the property. NOI is a non-GAAP financial measure which calculates rental income, tenant reimbursements and other property income less property and related expenses (operating and maintenance, property management fees, property level general and administrative expenses and real estate taxes) and excludes other non-property income and expenses, interest expense, depreciation and amortization, and our general and administrative expenses. Consolidated NOI represents NOI generated by our wholly-owned properties. Pro-rata NOI represents our 80% share of NOI generated by our unconsolidated properties held in our Duke JV, European JV and UK JVs. We believe that NOI provides an accurate measure of the operating performance of our operating assets because NOI excludes certain items that are not associated with management of the properties. Additionally, NOI provides useful information to the investment community about the Company’s financial and operating performance when compared to other REITs since NOI is generally recognized as a standard measure of performance in the real estate industry. However, NOI presented by us may not be comparable to NOI reported by other REITs that may use different methodologies. NOI should not be considered an alternative to net income as an indication of our performance, or as an alternative to cash flow from operating activities as a measure of our liquidity or ability to make cash distributions to shareholders.

EBITDA

We define Adjusted EBITDA as net income (loss) computed in accordance with GAAP plus depreciation, amortization, taxes, interest expense and net change in fair value of non-qualifying derivative financial instruments, gain (loss) on conversion of equity interest to controlling interest, impairment charges, gain (loss) on asset dispositions, and proportionate share of interest, depreciation and amortization from unconsolidated joint ventures. EBITDA is presented solely as a supplemental disclosure with respect to liquidity because we believe it provides useful information regarding our ability to service or incur debt. Because all companies do not calculate EBITDA the same way, the presentation of EBITDA may not be comparable to similarly titled measures of other companies. The Company believes that net income is the financial measure calculated and presented in accordance with GAAP that is most directly comparable to EBITDA.

Funds from Operations

The National Association of Real Estate Investment Trusts ("NAREIT") created Funds from Operations ("FFO") as a non-GAAP supplemental measure of REIT operating performance, which reflects the impact on operations from trends in occupancy rates, rental rates and operating costs. The most directly comparable GAAP measure to FFO is net income. FFO is used commonly in the real estate industry because historical cost accounting for real estate assets in accordance

Supplemental Information | First Quarter 2015 | 32

CHAMBERS STREET PROPERTIES (continued)

Non-GAAP Supplemental Financial Measures:

with GAAP implicitly assumes that the value of real estate assets diminishes predictably over time. Since real estate values instead have historically risen or fallen with market conditions, many industry analysts and investors consider presentations of operating results for REITs that use historical cost accounting to be insufficient.

We compute FFO in accordance with standards established by NAREIT. The revised NAREIT White Paper on FFO defines FFO as net income or loss computed in accordance with GAAP, excluding extraordinary items, as defined by GAAP, impairment charges and gains and losses from sales of depreciable operating property, plus real estate related depreciation and amortization (excluding amortization of deferred financing costs and depreciation of non-real estate assets), and after adjustment for unconsolidated partnerships and joint ventures.

Core Funds from Operations

We believe that Core Funds from Operations ("Core FFO") is a useful measure of management’s decision-making process and appropriately presents our results of operations on a comparative basis. The items listed below are excluded from NAREIT-defined FFO because they are subject to significant fluctuations from period to period that cause both positive and negative effects on our results of operations, often in inconsistent and unpredictable directions.

- Acquisition-related expenses: Acquisition-related expenses are primarily the result of the volume of our acquisitions completed during each period, and therefore we believe such acquisition costs are not reflective of our operating results during each period.

- Loss on early extinguishment of debt: Losses on early extinguishment of debt incurred in the current year are primarily a result of secured mortgage loan repayments typically associated with the sales of the underlying properties.

- Net change in fair value of non-qualifying derivative financial instruments and unrealized gains or losses on our investment in unconsolidated entities: Unrealized gains or losses that we have recognized during a given period are based primarily upon changes in the estimated fair market value of certain of our investments due to changes in market conditions and do not necessarily reflect the operating performance of these properties during the corresponding period.

- Other non-recurring expenses: Other non-recurring expenses such as severance-related costs and costs related to the process of listing our common shares on the New York Stock Exchange and our modified “Dutch Auction” tender offer are not reflective of our operating results during each period.

We believe that Core FFO is useful to investors as a supplemental measure of operating performance because adjusting FFO to exclude acquisition costs, unrealized gains and/or losses or other non- recurring expenses provides investors a view of the performance of our portfolio over time, including if we cease to acquire properties on a frequent and regular basis and allows for a comparison of the performance of our portfolio with other REITs that are not currently engaging in acquisitions. We also believe that Core FFO may provide investors with a useful indication of our future performance, and of the sustainability of our current distribution policy. However, because Core FFO excludes acquisition costs, unrealized gains or losses and/or other non-recurring

Supplemental Information | First Quarter 2015 | 33

CHAMBERS STREET PROPERTIES (continued)

Non-GAAP Supplemental Financial Measures:

expenses which are important components in an analysis of our historical performance, such supplemental measure should not be construed as a historical performance measure and may not be as useful a measure for estimating the value of our common shares.

Adjusted Funds from Operations

We calculate Adjusted Funds from Operations ("AFFO") as Core FFO exclusive of the net effects of (i) amortization associated with deferred financings costs; (ii) amortization of above- and below-market lease intangibles; (iii) amortization of premium on notes payable; (iv) amortization of deferred revenue related to tenant improvements; (v) non-cash share-based compensation expense; (vi) straight-line rental revenue; and (vii) recurring capital expenditures.

Not all REITs calculate FFO, Core FFO or AFFO (or an equivalent measure), in the same manner and therefore comparisons with other REITs may not be meaningful. None of these measures present, nor do we intend for them to present, a complete picture of our financial condition and/or operating performance. We believe that net income, as computed under GAAP, appropriately remains the primary measure of our performance and that FFO, Core FFO and AFFO, when considered in conjunction with net income, improves the investing public's understanding of the operating results of REITs and makes comparisons of REIT operating results more meaningful.

Supplemental Information | First Quarter 2015 | 34

CHAMBERS STREET PROPERTIES (continued)

Non-GAAP Supplemental Financial Measures:

Reconciliation of Net Income to Consolidated Net Operating Income (NOI)

As of March 31, 2015

(In Thousands)



	Three Months Ended
	March 31,
	2015			2014
Net Income	$	5,994		$	3,319
General and Administrative	9,873			6,864
Acquisition-related Expenses	—			290
Depreciation and Amortization	27,920			27,238
Total Expenses	37,793			34,392
Interest and Other Income	(80		)	(167		)
Interest Expense	13,059			14,061
Interest Expense and Net Change in Fair Value of Non-Qualifying Derivative Financial Instruments	(17		)	(26		)
Provision for Income Taxes	176			58
Equity in Income of Unconsolidated Entities	(6,505		)	(2,826		)
Net Operating Income - GAAP Basis	$	50,420		$	48,811
Straight-Line Rent Adjustment, Net	(1,668		)	(1,291		)
Above/Below Market Lease Amortization, Net	975			1,482
Net Operating Income - Cash Basis	$	49,727		$	49,002

Supplemental Information | First Quarter 2015 | 35

CHAMBERS STREET PROPERTIES (continued)

Non-GAAP Supplemental Financial Measures:

Reconciliation of Net Income to Adjusted EBITDA

As of March 31, 2015

(In Thousands)



	Three Months Ended
	March 31,
	2015			2014
Net Income	$	5,994		$	3,319
Interest Expense and Net Change in Fair Value of Derivative Financial Instruments	13,042			14,035
Pro Rata Share of Interest Expense from Unconsolidated Entities	1,401			1,738
Depreciation and Amortization	27,920			27,238
Pro Rata Share of Depreciation and Amortization from Unconsolidated Entities	6,639			8,770
Provision for Income Taxes	176			58
EBITDA	$	55,172		$	55,158
Pro Rata Share of Loss from Extinguishment of Debt from Unconsolidated Entities	58			—
Pro Rata Share of Gain on Sale of Real Estate from Unconsolidated Entities	(2,416		)	—
Adjusted EBITDA	$	52,814		$	55,158

Supplemental Information | First Quarter 2015 | 36



	Chambers Street Properties 47 Hulfish Street, Suite 210 Princeton, NJ 08542-3706 609 683-4900 www.ChambersStreet.com

Gramercy Property Trust - FORM 8-K - EX-99.2 - EXHIBIT 99.2 - May 5, 2015

Attached files

Gramercy Property Trust Reports