Smartcentres Real Estate Investment Trust · TSX:SRU.UN
Smartcentres Real Estate Investment Trust — Investor Presentation (September 2022)
75 slides from Smartcentres Real Estate Investment Trust's investor presentation, September 2022
Slide 1: Investor Presentation September 2022
INVESTOR PRESENTATION SEPTEMBER 2022 Town Hall September 2013
Slide 2: Notice to Reader
NOTICE TO READER Readers are cautioned that certain financial measures used in this Investor Amounts, timing of future payments of obligations, intentions to secure Presentation ("Presentation") such as: Adjusted Cashflow From Operations additional financing and potential financing sources, and vaca
Slide 3: Table of contents
04 STRONG FOUNDATION 26 FEATURED PROPERTIES 70 FINANCIAL HIGHLIGHTS 05 TENANT BASE & CASHFLOWS 26 SMARTVMC 71 RETURNS TO UNITHOLDERS 06 CENTRAL MARKETPLACE 35 VAUGHAN (HWY 400/7) 72 GROWTH IN ASSET VALUE 07 DEVELOPMENT ACTIVITY 37 VAUGHAN NORTHWEST 73 CASHFLOW STABILITY 39 ALLISTON 74 DEBT/MATURITY/
Slide 4: Solid
SOLID Town Hall September 2013
Slide 5: Stable Tenants & Cashflows
STABLE TENANTS & CASHFLOWS +60% of rent from strong, creditworthy, essential service tenants 185 98.5% Properties at key Cash receipts intersections across rent collected Canada 97.6% +25% Industry-leading of revenue committed occupancy from Walmart 98% $3.5B of revenue from Walmart’s 5-year open ai
Slide 6: Central Essential Service Centres
CENTRAL ESSENTIAL SERVICE CENTRES INCOME GROSS IN-PLACE GROCERY/ PRODUCING REVENUE OCCUPANCY PHARMACY PROPERTIES % RATE % # % GREATER- VECTOM 108 72 97.0 99 PRIMARY 31 17 97.0 100 SECONDARY 27 11 99.1 100 TOTAL 166 100 97.2 99.4 SMARTCENTRES REIT | Q2 2022 2021 INVESTOR INVESTOR PRESENTATION PRESENT
Slide 7: 25.5M SF Accelerated Development Activity
25.5M SF of zoning applications advanced in 2021 (+26,000 future residential units) Supported by a strong financial position: 34.7M SF income-producing portfolio ACCELERATED DEVELOPMENT $8.4B ACTIVITY unencumbered asset pool* $0.7B liquidity: cash + line of credit + accordion feature *Represents a n
Slide 8: Value Through Real Estate Development
VALUE THROUGH REAL ESTATE DEVELOPMENT Town Hall September 2013
Slide 9: 30+ Years of Land Development
30+ YEARS OF LAND DEVELOPMENT SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 9
Slide 10: Executive Chairman & CEO Mitchell Goldhar
EXECUTIVE CHAIRMAN & CHIEF EXECUTIVE OFFICER MITCHELL GOLDHAR ROLES & RESPONSIBILITIES Mitchell Goldhar provides development services to the REIT through his privately owned company, Penguin Group of Companies: • His real estate development and operations business acumen give the REIT a competitive
Slide 11: Unlocking the Value of Owned Land
BEST PORTFOLIO IN THE COUNTRY 185 PROPERTIES EASY ACCESS MAJOR INTERSECTIONS UNLOCKING TRANSIT CONNECTIVITY THE VALUE OF OWNED 3,500 ACRES LAND FLEXIBLE STRUCTURES <24% LAND UTILIZATION STRONG TENANCIES SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 11
Slide 12: Land Development Experts
LAND DEVELOPMENT EXPERTS DEVELOPMENT ENTREPRENEURIAL MARKET CULTURE MINDSET KNOWLEDGE SF DEVELOPED IN-HOUSE ASSOCIATES OF OUR CURRENT ASSETS SINCE 1989 FOCUSED ON INTENSIFICATION DEVELOPED BY THIS TEAM PLANNERS / DEVELOPERS • ENGINEERS • GOVERNMENT RELATIONS • LEASING • ENVIRONMENTAL / GEOTECH SPECI
Slide 13: Residential Expertise
RESIDENTIAL EXPERTISE Our SmartLiving residential team is comprised of top industry talent, guiding our expansive team of land development, engineering and construction experts. This expertise, coupled with our extensive APARTMENTS | CONDOS | TOWNS | SENIORS’ | HOTELS knowledge of existing propertie
Slide 14: Building Holistic Communities
BUILDING HOLISTIC COMMUNITIES SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 14
Slide 15: From Shopping Centres to City Centres
FROM SHOPPING CENTRES TO CITY CENTRES $15.2B publicly announced transformation of existing properties, growing a new portfolio out of our existing one * REIT SHARE Property identified for transformation $9.8B Property under review for transformation CURRENT PORTFOLIO TRANSFORMATION PROGRAM *Represen
Slide 16: Properties Identified for Intensification
97 PROPERTIES IDENTIFIED FOR INTENSIFICATION BRITISH ALBERTA SASKATCHEWAN MANITOBA ONTARIO QUEBEC ATLANTIC TOTAL COLUMBIA ALREADY INTENSIFIED 0 0 0 0 5* 0 0 5* MARKED FOR INTENSIFICATION 3 3 1 3 71 16 0 97 UNDER REVIEW FOR INTENSIFICATION 12 4 4 0 40 12 11 83 TOTAL PROPERTIES 15 7 5 3 116 28 11 185
Slide 17: Individual Projects Across 97 Properties
282 INDIVIDUAL PROJECTS ACROSS 97 PROPERTIES RECURRING INCOME INITIATIVES 178 63% + DEVELOPMENT INCOME INITIATIVES 104 37% TOTAL PROJECT COUNT 282 100% SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 17
Slide 18: Strategic Development Income Initiatives
STRATEGIC DEVELOPMENT INCOME INITIATIVES OUR STEADY PIPELINE OF CONDO & TOWNHOUSE PROFITS: STRENGTHEN STRENGTHEN FUND RECURRING LIQUIDITY EARNINGS LEVELS INCOME INITIATIVES TRANSIT CITY 1 & 2 TRANSIT CITY 3 TC TOWNS TOWNHOUSE TRANSIT CITY 4 & 5 VAUGHAN CONDO UNIT CLOSINGS CONDO UNIT CLOSINGS CLOSING
Slide 19: Transformation Program: Unlocking Potential Future Value
TRANSFORMATION PROGRAM: UNLOCKING POTENTIAL FUTURE VALUE 69 60 153 282 UNDERWAY ACTIVE FUTURE TOTAL CONSTRUCTION INITIATION (Years) 1 2 3 4 5 6+ PLANNING ENTITLEMENTS (#) 56 40 89 185 PROJECT SF (SF Millions) 16.5 11.9 30.0 58.4 REIT SHARE 10.9 7.4 21.9 40.2 SMARTCENTRES REIT | Q2 2022 2021 INVESTOR
Slide 20: Residential Rising Up
RESIDENTIAL RISING UP 69 PROJECTS UNDERWAY +3.3 MILLION SF UNDER CONSTRUCTION Town Hall September 2013 SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 20
Slide 21: Revera JV Projects
6 REVERA JV PROJECTS Seniors’ apartments & retirement residences (no long-term care) UNITS: 1,100 across 5 REIT projects PROJECTS • Markham • Oakville • Richmond Hill • Toronto (Bathurst & Wilson) Penguin owned property • Vaughan (x2 projects) SMARTCENTRES REIT | Q2 2022 2021 INVESTOR INVESTOR PRESE
Slide 22: SmartStop JV Projects
14 SMARTSTOP JV PROJECTS 1.3 Million SF of new development UNITS: ~14,000 OPEN AND IN LEASE-UP • Dupont St: Acquired Fall 2019 • Leaside: Opened June 2020 • Brampton: Opened Nov 2020 • Vaughan: Opened Jan 2021 • Oshawa: Opened Aug 2021 • Scarborough: Opened Nov 2021 UNDER CONSTRUCTION • Brampton, ON
Slide 23: Greenwin JV Projects
2 GREENWIN JV PROJECTS UNITS: 2,150 (Across 2 Properties) BARRIE LAKESHORE SMARTLIVING INTEREST: 50% • 7.8 acres on the Barrie waterfront • PLAN: 4 towers ranging from 25 to 41 storeys (1,700 units), including residential, retail and hotel • STATUS : Zoning approved. Phase 1 Site Plan approved for a
Slide 24: Major Mixed-Use Development Initiatives
MAJOR MIXED-USE DEVELOPMENT INITIATIVES GLA ('000sf) SRU Estimated Costs ($M) * Estimated Gain on Final Sale * SITE PROJECT TYPE Completion Year Yield * /Units % Share 100% SRU Share Profit % SRU Share Timing KPMG PwC-YMCA(2) 360sf 2016 50% $174 $86.9 6.1% 1. SmartVMC (Office Towers) Office Office 1
Slide 25: Major Mixed-Use Development Initiatives
MAJOR MIXED-USE DEVELOPMENT INITIATIVES GLA Estimated Costs ($M) * Estimated Gain on Final Sale * SITE PROJECT TYPE ('000sf) Completion Year SRU Yield * /Units % Share 100% SRU Share Profit % SRU Share Timing 300 Rental Apartments Apartments Units 2024 50% $115 $57.5 4.5%- — — — 9. Pointe-Claire (Ap
Slide 26: Vaughan City Centre
VAUGHAN CITY CENTRE
Slide 27: The New City Centre
THE NEW CITY CENTRE +100 AC LAND TRANSIT HUB ON SITE: • v TTC subway station • Regional bus terminal • VIVA rapid transit station 140,000 SF Walmart: Opened October 2020, freeing up 15.5 acres of prime real estate for development World class YMCA opened on-site, April 2022 SMARTCENTRES REIT | Q2 202
Slide 28: The New City Centre
THE NEW CITY CENTRE +20,000,000 SF +45,000 RESIDENTS DEC 2021 ACQUISITION: • SmartCentres doubled ownership in SmartVMC • $513 million acquisition of 2/3 interest in 53 AC • Now the largest landowner in the Vaughan Metropolitan Centre SMARTVMC LAND ACQUIRED JAN 2022 SMARTCENTRES REIT | Q2 2022 INVES
Slide 29: Transit City 1, 2, 3
| TRANSIT CITY 1,2,3 1,741 UNITS ACROSS 3 TOWERS ~3,000 RESIDENTS IN OCCUPANCY $65.7M IN NET INCOME ($35M IN EXCESS OF PLAN) 25% REIT SHARE OF PROFIT • $46.2 million in net income from Transit City 1 & 2 in 2020 • $19.5 million in net income from Transit City 3 in 2021 • TC Towns: 22 townhouses | 10
Slide 30: TC4 & TC5
| TC4 & TC5 TC4 & TC5 1,026 UNITS 100% PRESOLD 20% DEPOSITS IN PLACE 25% REIT SHARE OF PROFIT SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 30
Slide 31: The Millway
| THE MILLWAY THE MILLWAY 454 PURPOSE-BUILT RENTAL UNITS 50% REIT OWNERSHIP NOW RENTING SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 31
Slide 32: ArtWalk
NEW ART DISTRICT | ARTWALK 320 PRESOLD CONDO UNITS PHASE 1 3 MIXED-USE TOWERS 550,000 SQUARE FEET PHASE 1 627 RESIDENTIAL UNTS 50% REIT OWNERSHIP CONSTRUCTION ANTICIPATED TO BEGIN THIS YEAR • 12 Acres Full ArtWalk • 12 Buildings Build-Out • +4 Million SF • 4,600 Residential Units SMARTCENTRES REIT |
Slide 33: Park Place
| PARK PLACE 1,094 RESIDENTIAL UNITS 2 TOWERS 960,000 SQUARE FEET 48 & 56 4 STOREYS ACRES 10,000 SQUARE FEET RETAIL SPACE 67% REIT OWNERSHIP RESIDENTIAL , OFFICE, HOTEL 1,200,000 SF SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 33
Slide 34: SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION
SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 34
Slide 35: Vaughan (Hwy 400 & 7)
VAUGHAN (HWY 400 & 7) 20 AC Location: Highly visible site along Highway 7, separated from SmartVMC by Highway 400 TRANSIT: Serviced by VIVA Rapid Transit, with direct TTC connection SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 35
Slide 36: Vaughan (Hwy 400 & 7) Masterplan
VAUGHAN (HWY 400 & 7) 5,100,000 SF MASTERPLAN 14 potential buildings and 3,900 residential units PHASE 1 4 residential towers UNITS: 1,742 units STATUS: Phase 1 Site Plan Application submitted October 2020 SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 36
Slide 37: Vaughan Northwest
VAUGHAN NORTHWEST 41 AC Location: 1 km from Canada’s first smart hospital (opened February 2021) RETAIL & SELF STORAGE: 304,000 SF ANCHOR: Walmart SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 37
Slide 38: Vaughan Northwest Masterplan
VAUGHAN NORTHWEST 1,700,000 SF PHASE 1 174 FREEHOLD TOWNS: -JV with Fieldgate -99 units pre-sold PHASE 2 SENIORS’ APARTMENT & RETIREMENT RESIDENCES -Revera JV -450+ units -Applications submitted PHASE 3 3 RESIDENTIAL TOWERS: - Along Major Mackenzie Applications submitted SMARTCENTRES REIT | Q2 2022
Slide 39: Alliston
ALLISTON 39 AC Location: Hwy 89 just east of Alliston, close to the Honda Manufacturing Plant RETAIL: 171,000 SF ANCHOR: Walmart SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 39
Slide 40: Alliston Masterplan
ALLISTON 323,000 SF MASTERPLAN Rezoning approved for residential (350 units), self-storage and hotel PHASE 1 PURPOSE-BUILT RENTAL: 3-storeys UNITS: 46 STATUS: Site Application submitted. SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 40
Slide 41: Cambridge
CAMBRIDGE 73 AC Location: Highly visible site along Highway 401, in the growing Cambridge community RETAIL: 744,000 SF ANCHOR: Walmart SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 41
Slide 42: Cambridge Masterplan
CAMBRIDGE v 12,000,000 SF (Subject to a leasehold interest with Penguin) MASTERPLAN 10,000 new residential units, including rental apartments, condos, towns and seniors STATUS: Minister’s Zoning Order issued Nov 2020 PHASE 1 Residential high-rise and mid-rise SMARTCENTRES REIT | Q2 2022 INVESTOR PRE
Slide 43: Oakville North
OAKVILLE NORTH 52 AC Location: Uptown core area of Oakville with uncapped densities. Permissions for residential, office, retail and commercial. RETAIL: 461,000 SF ANCHORS: Walmart and The Real Canadian Superstore SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 43
Slide 44: Oakville North Masterplan
OAKVILLE NORTH 5,500,000 SF MASTERPLAN Residential, commercial and retail PHASE 1 2 RESIDENTIAL TOWERS: 28 & 29 storeys UNITS: 585 535,000 SF STATUS: Phase 1 Zoning Application submitted April 2021 SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 44
Slide 45: Oakville South
OAKVILLE SOUTH 21 AC Location: Along Third Line between Highway 403 and the QEW RETAIL: 330,000 SF ANCHOR: Metro SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 45
Slide 46: Oakville South Masterplan
OAKVILLE SOUTH 430,000 SF MASTERPLAN Residential, commercial and retail PHASE 1 TOWNS: With a 3 rd party homebuilder UNITS: 100 200,000 SF SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 46
Slide 47: Ottawa Southwest
OTTAWA SOUTHWEST 15 AC Location: Southwest of downtown Ottawa. Highly visibility with excellent public transit RETAIL: 172,000 SF OFFICE: 88,000 SF ANCHOR: Walmart SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 47
Slide 48: Ottawa Southwest Masterplan
OTTAWA v SOUTHWEST 665,000 SF PHASE 1 2 SENIORS’ RENTAL & LIVING TOWERS: 15-storey each with Groupe Selection UNITS: 402 STATUS: Under construction. Completion expected in 2023. SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 48
Slide 49: Pickering
v PICKERING 48 AC Location: 5 minutes from the Pickering GO station, next to Highway 401 and minutes from Durham Live RETAIL: 546,000 SF ANCHORS: Walmart and Lowe’s SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 49
Slide 50: Pickering Masterplan
PICKERING 5,000,000 SF MASTERPLAN Condos, towns, seniors’ and apartments PHASE 1 3 RESIDENTIAL TOWERS 816,000 SF STATUS: Phase 1 Site Plan Application submitted SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 50
Slide 51: Stoney Creek
STONEY v CREEK 13 AC Location: Growing area close to highway with future transit RETAIL: 134,000 SF ANCHOR: Food Basics SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 51
Slide 52: Stoney Creek Masterplan
STONEY CREEK 855,000 SF MASTERPLAN 6 residential buildings UNITS: 1,065 TRANSIT: Closs proximity to future LRT and GO PHASE 1 2 CONDO TOWERS: 20 & 15 storeys UNITS: 520 429,000 SF STATUS: Phase 1 application submitted Q4 2021 SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 52
Slide 53: Toronto (Eglinton East)
TORONTO v (EGLINTON EAST) 28 AC Location: Highly visible site along Eglinton Ave E along the Crosstown LRT line RETAIL: 380,000 SF ANCHOR: Walmart SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 53
Slide 54: Toronto (Eglinton East) Masterplan
TORONTO (EGLINTON EAST) 7,000,000 SF MASTERPLAN Residential, retail and office TRANSIT: Flanked between 2 future Crosstown LRT stations PHASE 1 2 CONDOS: 38 & 40 storeys UNITS: 899 650,000 SF STATUS: Phase 1 Site Plan Application submitted December 2021 SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTAT
Slide 55: Toronto (Eglinton West)
TORONTO (EGLINTON WEST) 9 AC Location: Minutes from Highway 401 and the Allen road. Future multimodal transit hub. RETAIL: 140,000 SF ANCHORS: Canadian Tire and Freshco SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 55
Slide 56: Toronto (Eglinton West) Masterplan
TORONTO (EGLINTON WEST) 2,550,000 SF TRA N SIT New Eglinton Crosstown LRT station and Barrie- line GO stations to open on site PHASE 1 1 35-storey residential tower UNITS: 433 STATUS: Phase 1 Site Plan Application submitted Q1 2021 360,000 SF SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 56
Slide 57: Toronto (Yonge & Wellington)
TORONTO (YONGE & WELLINGTON) Location: Prime Yonge and Wellington location, steps from the King and Union TTC/GO train stations 2 4-storey heritage buildings built in 1847 and 1875 SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 57
Slide 58: Toronto (Yonge & Wellington) Project
TORONTO v & (YONGE WELLINGTON) PROJECT 60-STOREY TOWER: 4 storeys of office 56 storeys of residential UNITS: 258 STATUS: Site Plan Application submitted Q4 2021 SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 58
Slide 59: Laval Centre
LAVAL CENTRE 43 AC Location: Prime location, minutes from Autoroutes 15 and 440 LAND SALES: Parcels sold to develop a seniors’ residence, hotel and office ANCHOR: Walmart SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 59
Slide 60: Laval Centre Masterplan
LAVAL CENTRE 2,900,000 SF MASTERPLAN Full property has up to 4.5M SF of potential. PHASE 1 EQUINOXE DANIEL JOHNSON, JADCO JV TOWER 1 RENTAL: UNITS: 171 15 storeys >92% leased TOWER 2 UNDER CONSTRUCTION: Completion Q1 2023 PHASE 2 TOWER 1 CONDO: UNITS: 155 8 storeys TOWER 2 RENTAL APARTMENT UNITS: 34
Slide 61: Mascouche
MASCOUCHE 74 AC Location: Prime location at Autoroutes 25 and 640 RETAIL: 470,500 SF ANCHOR: Walmart SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 61
Slide 62: Mascouche Masterplan
MASCOUCHE 1,500,000 SF MASTERPLAN Residential towers UNITS: 1,600 PHASE 1 2 RESIDENTIAL TOWERS: 10-storeys COGIR JV (80% SmartLiving ownership) UNITS: 238 (>100 pre-leased) 244,000 SF STATUS: Under construction. Completion anticipated Q3 2022. SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 62
Slide 63: Mirabel
MIRABEL 122 AC Location: Prime land along HWY 15 RETAIL: Premium Outlets Montreal (Simon JV) Q4 2020 - SmartCentres purchased Simon’s 33% interest in the 50 AC parcel. REIT interest now 66%. Q1 2022- SmartCentres and Penguin purchased Simon’s 50% interest in the 21 AC parcel. 63 REIT interest now 50
Slide 64: Mirabel Masterplan
MIRABEL 4,500,000 SF MASTERPLAN Mixed use, multi-residential and residential towers PHASE 1 RENTAL TOWER: 8-storeys UNITS: 168 167,500 SF STATUS: Phase 1 Site Plan Application expected to be submitted Q2 2022 SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 64
Slide 65: Montreal (Kirkland)
MONTREAL (KIRKLAND) 16 AC Location: Highly visible site on the south side of Hwy 40 RETAIL: 207,000 SF ANCHOR: Walmart SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 65
Slide 66: Montreal (Kirkland) Masterplan
MONTREAL (KIRKLAND) 750,000 SF TRA N SIT REM station: Under construction PHASE 1 10-storey residential UNITS: 170 STATUS: Construction anticipated to commence Q1 2023 SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 66
Slide 67: Pointe-Claire
POINTE- CLAIRE 23 AC Location: Montreal’s West Island with new Light Rail Transit line to downtown RETAIL: 384,000 SF ANCHORS: Walmart and Home depot SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 67
Slide 68: Pointe-Claire Masterplan
POINTE- CLAIRE 2,500,000 SF MASTERPLAN Residential, seniors and office PHASE 1 2 RENTAL RESIDENTIAL TOWERS: 16-storeys each UNITS: 300 STATUS: Zoning secured for multiple uses including residential, seniors housing and office SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 68
Slide 69: Innovation: Generating New Revenue Sources
INNOVATION GENERATING NEW REVENUE SOURCES SMARTCENTRES REIT | Q2 2022 INVESTOR PRESENTATION 69
Slide 70: Financial
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Slide 71: Total Returns to Unitholders
TOTAL RETURNS TO UNITHOLDERS* $1,400 13.1% AVERAGE ANNUAL $1,200 RETURN SINCE IPO $1,142.4 (as of September 2, 2022) $1,000 $800 $600 $566.87 $523.40 $400 $200 $0 21 05 20 06 09 03 02 04 07 08 12 14 17 11 18 10 15 16 19 13 - - - - - - - - - - - ov - - - - - - - - - ov ov ov ov ov ov ov ov ov ov ov o
Slide 72: Total Assets and Annualized Distributions
TOTAL ASSETS VALUED AT $11.9B TOTAL UNENCUMBERED ASSETS VALUED AT $8.4B 14.0 1.90 TOTAL ASSETS AND UNENCUMBERED ASSETS(1) Annualized Distributions ($ per Unit) (in billions of $) 11.9 12.0 11.3 1.80 10.7 10.0 27.2% CAGR* 9.4 9.5 9.9 1.70 since 2002 8.5 8.7 8.4 1.60 8.0 7.1 7.1 6.5 6.6 1.50 6.0 5.7 5
Slide 73: Stable Cashflow
STABLE CASHFLOW 81.8% 83.0% 87.5% 87.2% 89.5% 86.0% (4) PAYOUT RATIO* 2017 2018 2019 2020 2021 Q2 2022 In thousands of dollars (except per Unit information) Net income and comprehensive income per Unit 2.26 2.49 2.19 0.52 5.68 Cash flow provided by operating activities per Unit 2.24 2.17 2.03 1.71 2
Slide 74: Debt/Maturity/Leverage
DEBT/MATURITY/LEVERAGE DEBT MATURITY (in millions of $) 600 510 550 450 390 380 400 300 300 250 181 200 170 200 119 100 134 150 80 87 33 34 57 33 14 3 12 0 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 THEREAFTER Secured Debt Unsecured Debentures Unsecured Bank Loans Equity Accounted Investments
Slide 75: Town Hall September 2013
Town Hall September 2013
SmartCentres Real Estate Investment Trust — Investor Presentation (September 2022) on 6ix