Inventrust Properties Corp. · NYSE:IVT
Inventrust Properties — Inland American Real Estate Trust — Corporate Update (January 2012)
14 slides from Inventrust Properties's corporate update, Jan 5, 2012
Slide 1: Webcast Discussion on Recent Events
Webcast Discussion on January 5, 2012 Recent Events Inland American INLAND ® Ei. REAL estate TRUST, INC
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation may contain forwarc-looking statements. Forwarc-looking statements are statements that are not historical, including statements regarding managements intentions, beliefs, expectations, representations, plans or precictios of the fuure, and aretypicaly ide
Slide 3: Special Message from Robert Parks, Chairman of the Board
Special Message is Robert Parks Chairman of the Board Inland American
Slide 4: Recent Events
Recent Events ’ 1. New estimated per share value 2. Amendment of Share Repurchase Program 3. New, lower property management fees 4. Distribution level
Slide 5: New Estimated Per Share Value
~ New Estimated Per Share Value ¢ Each year we publish an estimated per share value to assist broker dealers with annual reporting requirements. ¢ The value this year is $7.22 ¢ The value is only a snapshot in time & will not affect your monthly distribution check
Slide 6: Methodology for New Estimated Per Share Value
Methodology for New Estimated Per Share Value * Nospecific guidelines or requirements / Different methods may produce different values ¢ Net Asset Value (“NAV”) method ¢ Total value of our real estate — our debt / total number of shares ¢ NAV is the current direction of industry since late 2011 ¢ Th
Slide 7: Board of Directors Involvement
Board of Directors Involvement ¢ Inland American Business Manager recommended the value to the Board ¢ The Board unanimously accepted the new value ¢ We intend to update the value at least every 12 months
Slide 8: Amendment to Share Repurchase Program
Amendment to Share Repurchase Program ¢ Board has approved expansion of the SRP ¢ $100 million annually ($40M for estate/death & $60M hardship) ¢ Shares purchased at 100% of new value - $7.22 ¢ Hardship includes disability & long-term care * Redemptions for this new plan will first be paid in April
Slide 9: Lower Property Management Fees
~ Lower Pr ¢ The property managers have agreed to reduce their fees to the REIT in 2012 * We expect to save $3.6 million in the new 2012 budget compared to the original 2012 budget
Slide 10: Improved Performance
Improved Performance* For the nine For the nine months months Percentage ended ended Increase 09/30/201 09/30/2010 (Decrease) Same Store Multi-Family Rev. $63.3 $58.8 7.7% Same Store Lodging Revenue $374 $346 8.1% Same Store Total Revenue $863 $834 3.5% Cash Flow from Operations & $329 $294 11.9% JV
Slide 11: Distribution Rate & Coverage
Distribution Rate & Coverage Annualized distribution per Share $0.50 Annualized distribution rate* 6.9% 9/30/11 Distributions Declared $321M 9/30/11 Cash Flow from Operations & JVs $329M 9/30/11 Funds from Operations $328M Total Distributions Since Inception = $1.8 Billion *6.9 percent annualized yi
Slide 12: Key Takeaways for Today
Key Takeaways for Today — ¢ The new value of $7.22 will not affect your monthly distribution check * Used NAV method due to current direction of the industry . AV may not recognize the enterprise value of our portfolio ¢ SRP expanded to $100 million annually and includes hardship 2 Lower property ma
Slide 13: Q&A Session January 5, 2012
Q&A Session January 5, 2012 Inland American Je REAL ESTATE TRUST, INC
Slide 14: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Add: Less: Netoss applicable to common shares (calculated in accordance with GAAP) Depreciation and amortization related to investment properties Depreciation and amortization related to investment in unconsolidated entities Provision for asset impairment Provision f
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