Group of Highly-Experienced Real Estate Investors Submits Proposal to Acquire Columbia Property Trust
Summary
We believe our proposal gives the Company’s stockholders – many of whom have already suffered through years of value erosion – an attractive opportunity to obtain immediate liquidity at a full and fair valuation, with a premium of approximately 29% over the closing stock price on Friday, March 12, 2021. In an attempt to work constructively with the Board, Arkhouse opted to not announce its nomination for several weeks in an effort to commence a substantive, private discussion with Columbia’s leadership about a mutually agreeable resolution that was in the best interest of stockholders. Sapir has owned, developed and managed more than 7 million square feet of Manhattan real estate, including some of the world’s most iconic commercial assets throughout various cycles. Certain Information Concerning the Participants Arkhouse Equities LLC, together with the other participants named herein (collectively, the “Investor Group”), intends to file a preliminary proxy statement and accompanying BLUE proxy card with the Securities and Exchange Commission (“SEC”) to be used to solicit votes for the election of its slate of highly qualified director nominees at the 2021 annual meeting of stockholders of Columbia Property Trust, Inc., a Maryland corporation (the “Company”). As of the date hereof, none of AS8888, 8F IP, Isaac Barber, Robert A. Spass, Lynette Tulkoff or Shlomo Zohar beneficially own any shares of Common Stock.