American Strategic Investment Co. · NYSE:NYC
American Strategic Investment — American Realty Capital New York City REIT — Q2 2016 Earnings Presentation
17 slides from American Strategic Investment's earnings presentation, August 2016
Slide 1: 2nd Quarter 2016 Webinar Series
2nd Quarter 2016 Webinar Series
Slide 2: Second Quarter 2016 Investor Presentation
Platform Advisor To Investment Programs Second Quarter 2016 Investor Presentation
Slide 3: Important Information
Important Information Risk Factors For a discussion of the risks which should be considered in connection with our company, see the section entitled “Item 1A. Risk Factors” in American Realty Capital New York City REIT, Inc.’s (the “Company”) Annual Report on Form 10-K filed with the U.S. Securities
Slide 4: Investment Thesis
Investment Thesis Focused on acquiring New York City commercial real estate 3 Primary objectives*: A Public Non-Traded Real Estate Investment Trust* - Preserve and protect capital - Pay monthly stable cash distributions; and - Increase the value of assets in order to generate capital appreciatio
Slide 5: New York City Market Trends
New York City Market Trends (3) NYC Employment Trends (1) NYC Population at Record High 4,500 Jobs in 000's 9.50 Millions 4,250 4,335 9.00 4,272 8.50 8.82 4,000 4,108 8.55 8.00 8.24 3,984 8.01 3,885 7.50 3,750 3,795 3,797 3,745 3,709 7.00 7.32 3,666 3,691 7.07 3,500 6.50 6.00 3,250 5.50 3,000 5.00 2
Slide 6: Q2 2016 Highlights
Q2 2016 Highlights Closed on $180 million acquisition of a leasehold interest in 1140 Avenue of the Americas on June 15th Occupancy remained approximately flat at 89.3% from Q1 2016 to Q2 2016 Cash NOI (1) increased approximately 11% from Q1 2016 to Q2 2016, excluding 1140 Avenue of the Americ
Slide 7: Portfolio Snapshot
Portfolio Snapshot 6 properties consisting of 1,091,571 square feet 89.3% occupancy as of 6/30/2016 Weighted average remaining lease term of 6.8 years Remaining Acquisition Number of Rentable Occupancy Portfolio Lease Term Debt Date Properties Square Feet (as of 6/30/16) (Years)(1) Unencumbere
Slide 8: Balance Sheet Snapshot
Balance Sheet Snapshot Strong balance sheet Low leverage (~26% debt/cost ratio)* $ amounts in 000’s Q1 2016 Q2 2016 Total Real Estate Investments (at Cost) $556,015 $742,516 Cash(1) 153,141 73,261 ~$73 million Cash Other Assets (2) 8,090 (11,011) Total Assets $717,246 $804,766 Mortgage Note Paya
Slide 9: Cash NOI Reconciliation
Cash NOI Reconciliation Below is a reconciliation from net loss, the most directly comparable GAAP financial measure, to Cash NOI. Three Months Ended (In thousands) June 30, 2016 March 31, 2016 Net loss (in accordance with GAAP) $ (6,401) (3,405) Acquisition and transaction-related 4,263 40 Deprec
Slide 10: Cash NOI Reconciliation (cont.)
Cash NOI Reconciliation (cont.) Cash net operating income ("Cash NOI") is a non-GAAP financial measure equal to net income (loss), the most directly comparable GAAP financial measure, less income from investment securities and interest, plus general and administrative expenses, acquisition and tra
Slide 11: Key Initiatives
Key Initiatives Finish deployment of capital • Debt/cost ratio remains low at ~26% providing room for additional leverage and portfolio growth • Management expects to complete $200 to $300 million of additional acquisitions • Target leverage for pro forma portfolio is 40-50% of the aggregate fair
Slide 12: 1140 Avenue of the Americas
1140 Avenue of the Americas • On June 15, 2016, ARC NYCR completed its acquisition of the leasehold interest in an institutional-quality office building located at 1140 Avenue of the Americas in Manhattan, New York (the “Property”) • The contract purchase price for the Property was $180.0 million, e
Slide 13: Organizational Depth
Organizational Depth Board of Directors Michael Weil Lee Elman Elizabeth Tuppeny Abby Wenzel Independent Director Executive Chairman Independent Director Independent Director & Audit Chair Management Team Nicholas Radesca Patrick O’Malley Michael Ead Michael Happel Senior Vice President Interim CFO
Slide 14: Consistent Distributions
Consistent Distributions Since Inception, American Realty Capital New York City REIT, Inc. has paid out $3.10 per share of regular distributions in cash and DRIP. $3.10 per share (cumulative) (1) $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $- (1) Totals as of each period presented represent cumulative
Slide 15: Risk Factors
Risk Factors There are risks associated with an investment in the Company. The following is a summary of some of these risks. For a discussion of the risks which should be considered in connection with your investment in the Company, see the section entitled “Item 1A. Risk Factors” in the Company’s
Slide 16: Risk Factors (continued)
Risk Factors (continued) Because investment opportunities that are suitable for us may also be suitable for other AR Global-advised programs or investors, our Advisor and its affiliates may face conflicts of interest relating to the purchase of properties and other investments and such conflicts m
Slide 17: For account information, Financial Advisors may view Shareholders may access their
For account information, including balances and the status of submitted paperwork, please call us at (866) 902-0063 Financial Advisors may view client accounts, statements and tax forms at www.dstvision.com Shareholders may access their www.NewYorkCityREIT.com accounts at www.ar-global.com
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