Ah Realty Trust, Inc. · NYSE:AHRT
Ah Realty Trust — Armada Hoffler Properties — Corporate Update (April 2020)
13 slides from Ah Realty Trust's corporate update, Apr 30, 2020
Slide 1: CLICK TO EDIT MASTER TITLE STYLE
CLICK TO EDIT MASTER TITLE STYLE 1
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS 2 . Certain matters within this presentation are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual resu
Slide 3: Introduction
INTRODUCTION 3 “AT ARMADA HOFFLER, OUR PRIORITY IS THE HEALTH, SAFETY, AND WELL-BEING OF OUR TEAM MEMBERS, TENANTS, AND RESIDENTS. THANK YOU TO OUR LOYAL AND DEDICATED TEAM OF PROFESSIONALS THAT CONTINUES TO ENSURE THAT EACH OF OUR OFFICE BUILDINGS, APARTMENT COMMUNITIES, SHOPPING CENTERS, AND CONST
Slide 4: Construction Update
CONSTRUCTION UPDATE 4 AHH ADVANTAGE CONSTRUCTION BUSINESS IS ON TRACK FOR ANOTHER STRONG YEAR, HELPING TO MITIGATE THE IMPACT OF THE PANDEMIC ON OUR BUSINESS AHH RESPONSE LOW HIGH – All job sites will remain open and operating under current Expected Construction Segment guidelines $7.3M $8.0M Gross
Slide 5: Overall Rent Collections – April
OVERALL RENT COLLECTIONS – APRIL(1) 5 $ in thousands 78% OF APRIL RENT COLLECTED ACROSS PORTFOLIO APRIL RENT COLLECTED DEFERRED APRIL RENT COLLECTED DEFERRED $12,997 $10,113 $2,854 $ 3,296 $ 2,859 $ 437 TOTAL PORTFOLIO(2)(3) TOP 20 TENANTS(2) 22% Collected 13% 87% 78% (1) April rent due plus recover
Slide 6: Multifamily Rent Collections – April
(1) MULTIFAMILY RENT COLLECTIONS – APRIL 6 $ in thousands AHH RESPONSE – Setting up reasonable payment plans for tenants that have asked for rent relief due to loss of employment – Maximizing the use of technology and limiting interaction with leasing/maintenance staff to essential tasks – Closing a
Slide 7: Office Rent Collections – April
(1) OFFICE RENT COLLECTIONS – APRIL 7 $ in thousands APRIL RENT COLLECTED(2) TOP 10 TENANTS: APRIL RENT COLLECTED(2) 100% 100% APRIL RENT COLLECTED DEFERRED $3,035 $3,024 $11 AHH RESPONSE – Communicating regularly with tenants ensuring compliance with state and local guidelines – Managing controllab
Slide 8: Retail Rent Collections – April
(1) RETAIL RENT COLLECTIONS – APRIL 8 $ in thousands AHH RESPONSE – Communicating regularly with tenants and ensuring compliance with state and local guidelines – Reviewing relief requests and, if warranted, establishing tenant-specific deferral/repayment plans – Managing controllable expenses to le
Slide 9: Retail Rent Composition – April
(1) RETAIL RENT COMPOSITION – APRIL 9 TENANT MIX BASED ON TENANT MIX BASED ON APRIL RENT DUE(2) APRIL RENT DUE(2) 20% 33% 56% 25% 67% Anchor In-Line & National Outparcel Collected Deferred Collected Deferred Anchors 88% 12% National 58% 42% Junior Anchors 58% 42% Local/Regional 56% 44% In-Line & Out
Slide 10: Development Update
DEVELOPMENT UPDATE 10 COST TO CONSTRUCTION CASH REQUIREMENT As of 3/31/20 PROPERTY TYPE ESTIMATED COST COST TO DATE COMPLETE LOAN AVAILABLE REMAINING DEVELOPMENT Summit Place (Meeting Street) Multifamily $56M $53M $3M $3M $0M Charleston, SC Wills Wharf Office $120M $98M $22M $22M $0M Baltimore, MD T
Slide 11: Mezzanine Loan Update
MEZZANINE LOAN UPDATE 11 ALL MEZZANINE PROJECTS ARE FULLY FUNDED, NO FUTURE CASH REQUIREMENTS CASH ORIGINAL 2020 CURRENT 2020 PROJECT REQUIREMENT VARIANCE EXPECTATION EXPECTATION REMAINING Nexton Square $0 $0.4M $1.2M $0.8M The Residences at Annapolis Junction(1) $0 $5.2M $2.5M ($2.7M) Delray Beach
Slide 12: Debt Maturities
DEBT MATURITIES 12 As of 3/31/20 $400M CONSTRUCTION SECURED UNSECURED $300M $200M $100M $0M 2020 2021 2022 2023 2024 2025 and thereafter Effective Rate as Maturity Balance at Property ($ in thousands) Stated Rate of 3/31/2020 Date Maturity Hoffler Place L+3.24% 4.23% Jan-2021 $29,589 Summit Place L+
Slide 13: Debt Metrics
DEBT METRICS 13 As of 3/31/20 unless otherwise noted SWAPS/CAPS $145M of 4-year interest rate swaps were entered into during 1Q20 Maturity Date Notional Amount Rate Swaps April 1, 2024 $ 25,000,000 0.496% April 1, 2024 $ 25,000,000 0.503% April 1, 2024 $ 25,000,000 0.550% June 26, 2024 $ 70,000,000
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