One Liberty Properties, Inc. · NYSE:OLP
One Liberty Properties — Investor Presentation (April 2016)
39 slides from One Liberty Properties's investor presentation, Apr 8, 2016
Slide 1: One Liberty Properties, Inc. Investor Presentation April 2016
ONE LIBERTY PROPERTIES, INC. INVESTOR PRESENTATION APRIL 2016 onelibertyproperties.com
Slide 2: Table of Contents
(GRE URERTY PROPERTES. NC. Table of Contents A DESCRIPTION: PAGE # DESCRIPTION: PAGE # Table of Contents 2 Case Studies: Safe Harbor Disclosure 3 Acquisition — Louisville, KY 20 Company Overview 4 Acq/Disp — Cherry Hill, NJ 21 Experienced Management Team 5 Acquisition — Joppa, MD 22 Attractive Portf
Slide 3: Safe Harbor
(GRE URERTY PROPERTES. NC. Safe Harbor A The statements in this presentation, including targets and assumptions, state the Company's and management's hopes, intentions, beliefs, expectations or projections of the future and are forward-looking statements. It is important to note that the Company's a
Slide 4: Company Overview
Company Overview A (GRE URERTY PROPERTES. NC. Fundamentals-focused Real Estate company Disciplined track record through economic cycles Active net lease strategy Experienced management team Alignment of interests through significant insider ownership
Slide 5: Experienced Management Team
Experienced Management Team & Patrick J. Callan, Jr. President & CEO Lawrence G. Ricketts, Jr. COO & EVP David W. Kalish, CPA SVP & CFO Matthew J. Gould Chairman Fredric H. Gould Vice Chairman (GRE URERTY PROPERTES. NC. Chief Executive Officer since 2008, President since 2006, Director since 2002 Se
Slide 6: Attractive Portfolio Fundamentals
(GRE URERTY PROPERTES. NC. Attractive Portfolio Fundamentals«) Total Square Footage 8.2 Million Property Type as a % Retail: 55.0% of income Industrial: 22.6% Other: 22.4% Number of Properties 112 Northern Tool Fort Mill, SC Current Occupancy 98.3% Annualized Base Rent $60.0 M Lease Term 7.9 Years a
Slide 7: Portfolio Detail
Portfolio Detail (GRE URERTY PROPERTES. NC. NX % of 2016 Number of 2016 Contractual Contractual [Type of Property Properties Rental Income (1) Rental Income Retail — General 39 $ 18,371,426 30.6% — Furniture 14 5,821,981 9.7 — Restaurant 19 3,933,599 6.6 — Office Supply 7 2,430,407 41 — Supermarket
Slide 8: Diversified Portfolio
(GRE URERTY PROPERTES. NC. Diversified Portfolio A Geographically diverse footprint with a concentration . in the eastern United States . FG Own 112 properties in 30 . , in Rs it states oT Ve Strong markets drive value : ww *. 3. ‘aS ea ae S Highest State Concentration by 2016 Contractual Rental Inc
Slide 9: Diversified Tenant Base
(GRE URERTY PROPERTES. NC. Diversified Tenant Base A 2016 % of 2016 Top is Numb Contractual Contractual Properties Rental Income _Rental Income Haverty Furniture Companies, Inc. (NYSE: HVT) 11 $ 4,568,723 7.6% LA Fitness International, LLC 3 3,075,583. 5.1 Northern Tool & Equipment 1 2,737,608 46 Fe
Slide 10: Financial Summary
Financial Summary Market Cap «: Shares Outstanding «: Insider Ownership «@: Current Annualized Dividend: Dividend Yield «: LA Fitness — Secaucus, NJ (1) Market cap is calculated using the shares outstanding and the closing stock price of OLP at March 17, 2016 (2) Calculated as of March 17, 2016 (3)
Slide 11: Targeting Long Term Total Return
Targeting Long Term Total Return Consistent driver of long term stockholder value 10.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% 9.4% 10-Year Annualized Total Return «» 7A% 7.3% eu NX (1) As of December 31, 2015 oLP NAREIT Equity Index S&P 500 i}
Slide 12: Growth in Operations
Growth In Operations Historical FFO Per Share $1.97 $2.00 $1.90 $1.80 $1.70 $1.60 $1.50 2012 2013 2014 2015 Dividend Growth Per Share $1.60 $1.50 wD $1.34 $1.30 $1.20 2012 2013 2014 2015 (GRE URERTY PROPERTES. NC. x Historical AFFO Per Share $2.00 $1.90 $1.80 $1.70 $1.60 2012 2013 2014 2015 (1) A re
Slide 13: Growth Oriented Balance Sheet
(GRE URERTY PROPERTES. NC. Growth Oriented Balance Sheet A Gross Assets,:: $735.5 million Total Debt/Gross Assets ~: Fixed Rate Debt«: Debt Service Coverage Ratio.w): Fixed Charge Coverage Ratio: 50.5% 95.1% 2.3 to 1.0 2.1 to 1.0 80.2% FFO Payout): = Liquidity available to acquire in excess of an es
Slide 14: Laddered Mortgage Debt Maturities
(GRE URERTY PROPERTES. NC. Laddered Mortgage Debt Maturities, \o = Weighted average interest rate of 4.6% on fixed rate debt = There is approximately $8.8 million ($0.52 per share) of scheduled amortization of mortgages for the 12 months ending December 31, 2016 Balloon Payments Due For the Twelve M
Slide 15: Lease Maturity Profile
(GRE URERTY PROPERTES. NC. Lease Maturity Profile A % of 2016 Contractual 2016 Contractual Rental Income Approximate Square % of Square Feet Year Ending Number of Rental Income Under Represented by Feet Subject To Represented by December 31, Expiring Leases Expiring Leases Expiring Leases Expiring L
Slide 16: Consistent Operational Performance
(GRE URERTY PROPERTES. NC. Consistent Operational Performance A Stable Occupancy 100.0% 98.0% 99.0% 98.9% 98.1% 98.8% 99.6% 98.6% 98.3% eR EREEE SE | 2007 2008 2009 2010 2011 2012 2013 2014 2015 Strong Revenue Growth $70 $65.7 $65 $60.5 @ $60 q $51.0 < $55 & $50 $43.8 $40.9 $45 Ss 7 $40 $35 $30 2010
Slide 17: Acquisition Track Record
(GRE URERTY PROPERTES. NC. Acquisition Track Record & = Acquired $95.2 million of properties in 2015 « = One hard contract expected to close in Q2 2016 for a total purchase price of approximately $14 million with an estimated GAAP yield of 7.9% « = Current pipeline of diverse opportunities in excess
Slide 18: Recent Acquisitions
Recent Acquisitions & ime of purchase) 03/30/16 Industrial Multi tenant industrial Greenville SC 12/31/17-4/30/21_$17,050___7.7% _AllCash 09/25/15 Industrial Fed Ex and Chep USA. St. Louis MO 08/31/22-10/31/24 $19,050 7.5% — $12,383 mortgage 07/28/15 Industrial Supplier to auto industry Birmingham =
Slide 19: Recent Mortgages
(GRE URERTY PROPERTES. NC. Recent Mortgages & Mortgage Amount Mortgage Interest Date Financed Property Type _Tenant (or dibla| MSA State (in‘000s)_Maturi Rate 03/11/16 1) Supermarket Whole Foods West Hartford cT $18,000 04/01/28 3.38%. 01/21/16 Industrial Fed Ex Tampa FL $ 2,500 12/05/25 3.57% 0146
Slide 20: Acquisition Case Study — Industrial
Acquisition Case Study — Industrial In March 2015, acquired a distribution facility in Louisville, KY, net leased to Interline Brands, Inc. which was acquired by The Home Depot, Inc. (NYSE: HD) Interline Brands is a large-scale national distributor of maintenance, repair and operations products 6 mi
Slide 21: Acquisition/Disposition Case Study
(GRE URERTY PROPERTES. NC. Acquisition/Disposition Case Study < = In October 2011, acquired a vacant Home Purchase Price $ 5,800,000 Depot in Cherry Hill, NJ through a consolidated Improvements $ 4,746,000 Jv Sale Price $16,300,000 = 6 miles east of downtown Philadelphia Internal Rate of Return to O
Slide 22: Acquisition Case Study — Short Term Lease
Acquisition Case Study — Short Term Lease In June 2014, acquired a distribution warehouse in Joppa, MD through a consolidated JV Simultaneously net leased to Noxell Corp, a subsidiary of Proctor & Gamble (NYSE: PG), through December 31, 2015 19 miles north of Baltimore, MD - approximately 1.5 miles
Slide 23: Tenant Profile — LA Fitness
(GRE URERTY PROPERTES. NC. Tenant Profile — LA Fitness < Tenant: LA Fitness International LLC Represents 5.1% of 2016 contractual rental income LA Fitness currently operates over 800 clubs in 21 states The company was founded in 1984 and is headquartered in Irvine, CA 3 properties representing 141,6
Slide 24: Summary — Why OLP?
= 2 Summary — Why OLP? A (GRE URERTY PROPERTES. NC. Fundamentals-focused Real Estate company Disciplined track record through economic cycles Active net lease strategy Experienced management team Alignment of interests through significant insider ownership 24
Slide 25: Appendix
ON E LIBERTY PROPERTIES, INC. APPENDIX 25
Slide 26: Acquisitions Case Studies
ae ACQUISITIONS CASE STUDIES
Slide 27: Acquisition Case Study — Ground Lease
(GRE URERTY PROPERTES. NC. Acquisition Case Study — Ground Lease = In March 2015, acquired 49 acres of land located in Lakemoor, IL (Chicago MSA) which was simultaneously ground leased to an experienced multi-family operator Purchase Price $ 9,300,000 1 il = The land is improved by a class A.496 uni
Slide 28: Acquisition Case Study — Industrial
Acquisition Case Study — Industrial = In November 2014, acquired a distribution facility in New Hope, MN (Minneapolis MSA) net leased to Progressive Converting, Inc. = Progressive Converting is the largest paper converter by market share in the United States * 7 miles northwest of downtown Minneapol
Slide 29: Blend and Extend Case Study — Office Depot
(GRE URERTY PROPERTES. NC. Blend and Extend Case Study — Office Depot S In September 2008, acquired 8 sites from = July 2015 — new financing aggregating $12.85 million Office Depot in a sale leaseback with a 10 year term at an interest rate of 4.35% secured transaction by the properties with extende
Slide 30: Releasing Case Study
Be veerT poremes Ne = Dark and paying Office Depot site located in Kennesaw, GA (Atlanta MSA) = The building is 32,138 SF on 3.3 acres of land = In December 2015, simultaneously negotiated a lease termination with Office Depot (obtaining a $950,000 early termination fee) and entered into a new 10 ye
Slide 31: Top Tenants' Profiles
ae TOP TENANTS’ PROFILES
Slide 32: Havertys Furniture — Tenant Profile
(GRE URERTY PROPERTES. NC. Havertys Furniture — Tenant Profile \o Tenant: Haverty Furniture Companies, Inc. (NYSE:HVT) Represents 7.6% of 2016 contractual rental income Full service home furnishings retailer founded in 1885 Public company since 1929 121 showrooms in 16 states in the Southern and Mid
Slide 33: Representative Havertys — Richmond, VA
Representative Havertys — Richmond, VA ™ Building: 38,788 SF on 2.16 acres. Built in 1979 and renovated and expanded in 2001. Havertys has operated at this location for more than 15 years. * 3 Mile Demographics (source: stes usa. 2015) - Population: 56,212 Average HH Income: $100,449 = Location: 115
Slide 34: Northern Tool & Equipment — Tenant Profile
(GRE URERTY PROPERTES. NC. Northern Tool & Equipment — Tenant Profile \o Tenant: Northern Tool & Equipment Represents 4.6% of 2016 contractual rental income Alarge United States distributor of industrial grade and personal use power tools and equipment Acquired The Sportsman's Guide and The Golf War
Slide 35: Ferguson Enterprises — Tenant Profile
(GRE URERTY PROPERTES. NC. Ferguson Enterprises — Tenant Profile S Tenant: Ferguson Enterprises, Inc. = Represents 4.1% of 2016 contractual rental income One of the largest United States distributors of plumbing supplies, pipes, valves and fittings = Ferguson is a large and profitable United States
Slide 36: Office Depot — Tenant Profile
Office Depot — Tenant Profile Tenant: Office Depot, Inc. (NYSE: ODP) Represents 4.1% of 2016 contractual rental income Leading global provider of office products and services The combined entity has more than 1,700 retail stores in 6 countries and closed approximately 350 retail stores between 2014
Slide 37: Representative Office Depot — Chicago, IL
(GRE URERTY PROPERTES. NC. Representative Office Depot — Chicago, IL Building: 23,939 SF on 2.62 acres. Built in 1994. Office Depot has operated at this location for more than 22 years. 3 Mile Demographics (source: stes usa, 018) - Population: 548,147 Average HH Income: $100,223 Location: 2928 N. As
Slide 38: Portfolio / Financial Detail
ae PORTFOLIO / FINANCIAL DETAIL
Slide 39: GAAP Reconciliation
GAAP Reconciliation The following table provides a reconci GAAP net income attributable to One Liberty Properties, Inc. ‘Add: depreciation of properties ‘Add: our share of depreciation of unconsolidated joint ventures Add: impairment loss ‘Add: amortization of deferred leasing costs Add: Federal exc
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