Cushman & WakefieldCushman & Wakefield

MISSION CRITICAL FACILITIES PRACTICE

Miles Loo, Jr.Managing Director, Valuation & Advisory

National Practice Leader, Mission Critical Facilities PracticePhone 213-955-6416 | miles.loo@cushwake.com

MISSION CRITICAL FACILITIES

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Looking to value your data center,

colocation facility, or carrier hotel?

Looking to engage an elite advisory

team of mission critical facility

specialists whose valuation experience

stands unrivaled in markets throughout

the North America and Europe?

Look no further.

The Cushman & Wakefield (C&W) Valuation & Advisory team is one

of the world’s largest, fully integrated real estate valuation and

consulting organizations, with more than 550 valuation professionals

in 90 offices worldwide. Drawn from these ranks, our data center

specialists operate as a elite and collaborative unit known as the

C&W Mission Critical Facilities (MCF) Practice.

Our MCF professionals understand the complexity of these assets

and the nuanced interplay of variables required for an effective

comparison of space. For example, data center rental rates—which

far exceed the rates of most real estate—can vary widely based on:

building infrastructure; location; tenant demand; available connectivity

within the building; and, most importantly, power availability and cost.

Corporations, institutional investors, and lenders alike turn to the MCF

Valuation & Advisory team as their trusted advisors for critical debt

and equity investment decisions regarding their mission critical assets

and properties. Whether it be a single asset appraisal, portfolio

valuation, or valuation for financial reporting, our team has the track-

record and specialized expertise to meet your organization’s needs.

The MCF Practice is geographically diverse, covering relevant markets throughout North America and partnering with technical property specialists in Europe, Asia, and South America. The Practice is also multi-disciplinary, drawing from all real estate disciplines and specializations.

The common ground we share is our uncommon experience and expertise with data centers and technical properties. Our MCF specialists speak the unique language of data center owners and users. We understand the operational, mechanical, financial and regulatory considerations that impact these assets. And we attend the events, subscribe to the publications, and monitor the trends that shape the data management and computing power landscapes.

Equally important, our work model is collaborative and networked, offering value through economies of scale. In effect, our clients are able to leverage the best practices, technical expertise, and market intelligence of our entire global team.

That way, your team can rest assured that the solutions we put forward to secure and manage your mission critical facilities, are the most trusted and advanced solutions available anywhere.

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AtlantaBostonChicago / RosemontDallasDC / Northern VirginiaDenverHoustonLos AngelesMinneapolisMontrealNorthern New JerseyNew York MetroPhiladelphiaPhoenixSalt Lake CitySan Francisco / Silicon ValleySeattleToronto

NORTH AMERICAMCF Member Locations

BeijingHong KongLondonMumbaiSao PauloSingaporeTokyo

GLOBALMCF Partner Locations

C&W officeMCF member coverage

Primary marketSecondary market

CUSHMAN & WAKEFIELD MISSION CRITICAL FACILITIES PRACTICE GROUP

North America & BeyondComprehensive coverage of primary and secondary North American markets and major markets in South America, Europe and Asia.

– Telecommunications facilities

– Carrier-neutral hotels

– Colocation facilities

– Wholesale data centers (fully conditioned)

– Powered shell data centers

This body of ongoing experience with mission critical facilities—unrivaled in the industry—affords our team unique insights into the data center market. The data we have assembled, coupled with ourextensive research and market knowledge, gives us real-time advantage in helping our clients to make sound business decisions.

Avoid the risk.Select a team whose core competency is data centers.

Our ServicesAppraisal

Appraisal Review

Appraisal Management

Asset Impairment Analysis

Bankruptcy Support

Corporate Planning

Debt Valuation

Development Advisory

Due Diligence

Expert Testimony

Expense Analysis

Fair Value Measurements

Cost Benefit Analysis

Highest and Best Use Analysis

Impact Studies

Litigation Support

Market Studies

Mergers and Acquisitions Support

Operation Reviews

Portfolio Valuation

Property Tax Consulting

Purchase Price Allocation

Rent Studies

Proforma Reviews

Valuation for Financial Reporting

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Specializing inVALUING Data CentersCan you afford downtime?Data centers are extremely expensive to construct. In order to operate and maintain these facilities, specialized skills are required to achieve the necessary reliability and uptime for the equipment and network infrastructure.

Unplanned events, such as an outage or systems failure, will disrupt operations, compromise your company’s reputation, and risk the loss of business. In choosing a firm to value a mission critical facility or advise you in its regard, you need not assume additional risk.

This sensitive work calls for specialization and the C&W MissionCritical Facilities Valuation & Advisory team is the most experienced in the industry. In the last few years, our team has been engaged in more than 110 appraisal and consulting assignments in markets throughout the United States, Canada, and Europe.

Theses assignments constitute more than 22.5 million square feet of rentable space and nearly 9.0 million square feet of technical/ raised floor space and have involved the following property types:

C&W MISSION CRITICAL FACILITIES PRACTICE

Our North American database includes (a) existing built-out data centers for sale or lease; (b) colocation facilities; (c) powered shells; and (d) proposed development sites. More intelligence, on more markets, means more informed decision-making during your site-selection process.

Database of Mission Critical Properties

Globally, C&W manages more than 20 million square feet of technology space and nine million square feet of raised-floor data centers. We draw on the practical experience of our in-house management and engineering personnel to deepen our technical knowledge of these facilities. The depth of our transactional due diligence reflects this commitment.

In-House Facilities Management Expertise

The MCF team partners with C&W’s in-house incentives specialists to ensure clients make the most of state and local incentive and tax abatement opportunities. Our approach is exhaustive, exploring and negotiating discretionary cash grants; real estate tax abatements; utility costs reductions; employment and investment tax credits; enterprise zone benefits; and more. Your cost mitigation efforts will be the better for it.

Incentives Optimization

Our project management professionals are experts on mission critical facility construction and build-out scope development; team selection; cost and schedule management; and installation and commissioning. Their advanced understanding of technical and design requirements can be leveraged to great effect during site selection and negotiations.

Build-out and Project Management Expertise

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Client Assets

Data centers

Colocation facilities

Powered shells

Trading floors

Control centers

Network operations centers

Client Industries

Fortune-500 leaders

Banks

Cable companies

Content providers

Education institutions

Financial services providers

Hosting companies

IT services firms

Managed service providers

Network providers

Technology companies

Telecommunications firms

Breadth of ExperienceIn total, the MCF Practice professionals have provided real estate solutions to more than 120 companies and entities in North America in recent years. We specialize in a variety of technical properties and services clients—both owners and users—from a broad range of industries.

Depth of ResourcesIn addition to our sector- and asset-specific experience and comprehensive geographic coverage, the MCF Practice offers clients further advantages and value through its unique depth of resources.

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Miles Loo, Jr.Managing Director | Valuation & Advisory National Practice Leader | Mission Critical Facilities Practice Group

Phone 213-955-6416 | miles.loo@cushwake.com

Miles Loo, Jr. serves as Managing Director in the Valuation & Advisory Group of Cushman & Wakefield, where he had previously served as Director and Associate Director. He has 15 years experience in appraising Class A-trophy office buildings, industrial parks, luxury apartments, and large-scale retail and entertainment centers, as well as 12 years experience in appraising and consulting on technology-related real estate.

Cushman & Wakefield's Valuation & Advisory Group has been actively involved in the appraisal of institutional and corporate related properties for over 30 years and is internationally recognized as the industry leader in valuation. C&W is the premier valuation firm in the industry and is well known for its high quality appraisal standards. With over 550 valuation professionals in 90 offices around the world, Miles was recently promoted to National Practice Leader for the Valuation & Advisory arm of the company's Global Mission Critical Facilities Practice.

Over the past four (4) years, Miles has provided valuation services for major facilities owned/operated by 365 Main, AIG, AT&T, Bank of Montreal, CRG West, DCI Technology, Digital Realty Trust, DuPont Fabros, Equinix, HSBC, IBM, Lehman Bros./Barclays, Level 3, SAVVIS, i/o Data Centers, Stream Realty, Switch & Data, Switch Communications, Quality Technology Services, U.S. Bank and Verizon. He has also appraised an Uptime Institute Site Certified Tier IV facility; there are only 4 certified sites in the world. These studies have been used in conjunction with real estate portfolio valuations, due diligence support, internal planning, and acquisition/construction financing purposes.

In addition, Miles is a Practice Leader in Cushman & Wakefield's Global Mission Critical Facilities (MCF) Practice Group and serves on C&W's MCF International Committee in expanding its global platform all throughout the European, Asia Pacific and South American regions. He was also a Silver Sponsor at Tier1 Research's 2009 Datacenter Transformation Summit in Santa Clara in December 2009 and an invited panel speaker at the 2008 Hosting Transformation Summit in Las Vegas in September 2008.

Miles has been active in the appraisal of real estate since 1995 and holds a Bachelor of Science Degree, Business Administration with an emphasis in Pre-Legal from California State University, Los Angeles. He is an Associate Member of the Appraisal Institute, Affiliate Member of the CFA Institute, Affiliate Member of the International Council of Shopping Centers, California Licensed Real Estate Broker, and a Certified General Real Estate Appraiser in the States of California, Arizona and Georgia.

The Mission Critical Facilities Practice draws on the considerable resources of the world’s largest privately held commercial real estate services firm. A partner in the Mission Critical Facilities Practice is a partner in Cushman & Wakefield.

Cushman & Wakefield LongevityMore than 90 years of innovative real estate solutions.

Cushman & Wakefield Presence231 offices, 58 countries, more than 13,000 employees.

Cushman & Wakefield BreadthFrom leasing to property management, global supply chain consulting to investment and financial services; Cushman & Wakefield’s service delivery platform is comprehensive and integrated.

a partner in Cushman & Wakefield