Inland Real Estate Income Tr Inc · OTC:INRE
Inland Real Estate Income Tr — Inland Real Estate Income Trust — Investor Presentation (April 2016)
21 slides from Inland Real Estate Income Tr's investor presentation, Apr 26, 2016
Slide 1: Net Asset Value Presentation
inland - investments.com 1 Inland Real Estate Income Trust, Inc. THIS IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY THE SECURITIES DEPICTED HEREIN. THE OFFERING IS MADE ONLY BY THE PROSPECTUS. Net Asset Value Presentation April 26, 2016 • 1:00 pm CT Audio is available via webcast
Slide 2: Disclaimer
inland - investments.com 2 Disclaimer This material is neither an offer to sell nor the solicitation of an offer to buy any security, which can be made only by the pros pec tus, which has been filed or registered with appropriate state and federal regulatory agencies, and sold only by broker dealers
Slide 3: Risk Factors
inland - investments.com 3 Risk Factors Some of the risks related to investing in commercial real estate include, but are not limited to: market risks such as local pro perty supply and demand conditions; tenants’ inability to pay rent; tenant turnover; inflation and other increases in operating cos
Slide 4: Valuation Disclosure
inland - investments.com 4 Valuation Disclosure Our estimated per share net asset value (NAV) represents a snapshot in time, will likely change, and does not necessarily rep res ent the amount a stockholder would receive now or in the future for his or her shares of the Company’s common stock. Stock
Slide 5: Valuation Disclosure
inland - investments.com 5 Valuation Disclosure Neither CBRE Cap nor any of its affiliates is responsible for the board of directors’ determination of the estimated per shar e N AV or the repurchase price for shares under the Company’s share repurchase program (SRP). CBRE Cap assumed that the financ
Slide 6: Forward-Looking Statements
inland - investments.com 6 Forward - Looking Statements In addition to historical information, this webcast contains "forward - looking statements" made under the "safe harbor" provision s of the Private Securities Litigation Reform Act of 1995. The statements may be identified by terminology such a
Slide 7: On Today's Call
inland - investments.com On Today’s Call 7 Mitchell Sabshon Chief Executive Officer JoAnn McGuinness President and Chief Operating Officer David Lichterman Vice President, Chief Accounting Officer & Treasurer
Slide 8: Regulatory Changes
inland - investments.com Regulatory Changes 8 • The Financial Industry Regulatory Authority Notice 15 - 02 (FINRA 15 - 02) outlines rule amendments that: – Require broker - dealers to provide per share estimated values on customer account statements using two approved methodologies – Provide per sha
Slide 9: Approved Valuation Methodologies
inland - investments.com Approved Valuation Methodologies 9
Slide 10: Benefits to Investors
inland - investments.com Benefits to Investors 10
Slide 11: Inland Income Trust Highlights
inland - investments.com 11 Inland Income Trust Highlights
Slide 12: Portfolio Snapshot
inland - investments.com 12 Portfolio Snapshot No Assets 0 - 5% of ABR* 5.01 - 10% of ABR 10.01% or Greater of ABR * Annualized Base Rent as of December 31, 2015 As of December 31 , 2015 Total Number of Properties: 54 Total Square Feet: 6,025,330 Number of States: 22 Economic Occupancy: 97.2% Physic
Slide 13: 4th Quarter 2015 Acquisitions
inland - investments.com 4 th Quarter 2015 Acquisitions 13 Property: Milford Marketplace Market: Milford, Connecticut Acquisition Date: October 1, 2015 Acquisition Price: $34.0 Million Leasable Area: 112,257 SF Tenants: Whole Foods, JoS. A. Bank, Ann Taylor’s Loft Property: Settlers Ridge Market: Pi
Slide 14: Distributions
inland - investments.com Distributions * The 6 . 0 % annualized distribution rate is based on a $ 10 share price, is payable monthly and is not guaranteed and may be modified at any time . As of December 31 , 2015 , approximately 37 % of distributions paid to stockholders of record since inception (
Slide 15: Estimated Net Asset Value (NAV)
inland - investments.com Estimated Net Asset Value (NAV) 15 • Consistent with Inland Income Trust’s valuation policy and recommendations and methodologies in the Investment Program Association (IPA) Valuation Guidelines 1 – Use of independent valuation expert • Engaged CBRE Capital Advisors, I nc. (
Slide 16: Methodology
inland - investments.com Methodology 16 • The valuation generally utilized a discounted cash flow analysis based on projected net operating income, less capital expenditures, for the ten - year period ending December 31, 2025 • MAI appraisals were prepared on all 54 retail properties • Property tour
Slide 17: Valuation Summary
inland - investments.com Valuation Summary 17 • CBRE Cap created a valuation range by varying the discount and terminal cap rates of each real estate asset – Weighted average ranges of approximately 38 basis points 1 were set on the discount rate and 34 basis points on the terminal cap rate of each
Slide 18: Estimated NAV Per Share
inland - investments.com Estimated NAV Per Share 18 LOW END HIGH END Value Per Share Value Per Share Present value of real estate $1,283,601,741 $14.89 $1,356,306,895 $15.73 Cash and other assets, net of other liabilities 45,029,345 0.52 45,029,345 0.52 Fair value of debt (587,437,043) (6.81) (587,4
Slide 19: Repricing of Shares
inland - investments.com Repricing of Shares 19 • Estimated NAV per share of $9.02 1 – Excludes value adjustments for portfolio size and diversification – Company’s Board of Directors selected the midpoint of the range as the estimated per share value • Distribution Reinvestment Plan (DRP) – Purchas
Slide 20: Strategy for the Future
inland - investments.com 20 Strategy for the Future 1 Statista . Consumers’ weekly grocery shopping trips in the United States from 2006 to 2015 1 Continued focus on multi - tenant, necessity - based shopping centers with the following key attributes:
Slide 21: Questions?
inland - investments.com Questions?
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