Group of Highly-Experienced Real Estate Investors Submits Proposal to Acquire Columbia Property Trust - Seite 2

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. The Board is no doubt aware that many stockholders have been forced to endure negative returns and significant losses over several horizons, including one-year (-27%), three-year (-29%) and five-year (-25%) timeframes.¹

In our view, our proposal delivers full value that exceeds what the Company can be expected to achieve in the coming years based on the expected public market challenges and leadership’s stated plans. We also believe our proposal would be beneficial to the Company’s officers and employees, who we envision working with to grow the Company over the long-term in the more forgiving, stable private market. Notwithstanding our interest in acquiring 100% of the Company’s outstanding stock, we are open to discussing the participation of the Company’s officers and employees, and holders of units of Columbia Operating Partnership, L.P., in the proposed transaction (although such participation is not a condition to our proposal).

We have assembled a team of experienced advisors and counsel to assist us in moving quickly and efficiently toward consummating a transaction. We have executed a term sheet for financing with a global alternative investment management firm with approximately $50 billion in assets and a long track record of lending against and investing in all types of corporate and real estate transactions.² We are highly confident that we can arrange all necessary financing to complete the transaction, including refinancing or replacement of the Company’s existing debt. Accordingly, any definitive agreement providing for the proposed transaction will not contain any financing contingencies.

We are prepared to move forward with confirmatory due diligence right away. This can be done while concurrently negotiating definitive documentation and finalizing and entering into definitive agreements. We believe this can occur within the next 45-60 days if the Board is prepared to promptly enter into a good faith process.

As you are aware, Arkhouse has nominated six highly-qualified candidates for election to the Board at the Company’s upcoming 2021 Annual Meeting of Stockholders. Arkhouse’s slate has considerable experience in the areas of corporate governance, finance, real estate investing, property management and strategic transactions. 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. We remain willing to discuss a negotiated resolution involving the withdrawal of the nomination.