One Liberty Properties, Inc. · NYSE:OLP
One Liberty Properties — NAREIT Presentation June 2010
23 slides from One Liberty Properties's conference presentation, Jun 9, 2010
Slide 1: One Liberty Properties NAREIT Presentation
One Liberty Properties NAREIT Presentation June 2010
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain information contained in this presentation, including the guidance relating to FFO and the resulting yield and the acquisition pipeline, together with other statements and information publicly disseminated by One Liberty Properties, Inc. (the “Company”, is forward looki
Slide 3: History of One Liberty Properties
History of One Liberty Properties Gould Investors LP became the controlling shareholder in 1989 Fredric Gould, chairman of OLP, controls 16.4 % of the stock Directors & Officers control over 25% of the stock Since 1999 total assets have increased by over 400%
Slide 4: One Liberty Properties Overview
One Liberty Properties Overview Internally managed net lease equity REIT Focused on U.S. single tenant commercial real estate with long term leases ~ Acquired properties by balancing fundamental real estate analysis with tenant credit evaluation Analysis focused on value of property, local demograph
Slide 5: Investment Highlights
Investment Highlights High performing portfolio with embedded growth ~ 98.6% occupied as of 12/31/09 ~ Atleast 97.5% occupied for the last 5 years ~ 95% of 2010 contractual rental income provides for rent increases Ability to make opportunistic acquisitions at attractive values Current LOls and cont
Slide 6: Recent Developments
Recent Developments © On February 24, 2010, we acquired a retail shopping center in Royersford, PA (a suburb of Philadelphia) for $23.5mm Approximately $17.7 mm was paid by the assumption of a first mortgage, and the balance was paid in cash ~ 194,000 square feet on 33 acres; co-anchored by Giant Fo
Slide 7: A Geographically Diverse Portfolio
A Geographically Diverse Portfolio ‘Wholly-Owned Properties ‘Apporximate Numberof 2010 Contractual Building State Properties Rental Income (1) _ Square Feet NewYork 10 S0,farzea_ 010,704 Texas 10 $5,773,100 521623 Georga 6 $3,150,157 298,743, Pennsyivania 3 $2/553,724 366,02 Maryland 1 $2/340,923, 3
Slide 8: Diversification Across Sectors
Diversification Across Sectors Diversified portfolio of retail, industrial, office and other properties under long term leases | of 2010 Type of No.of No.of 2010Contractual_ Contractual 2010 Rental Income by Property Type Prof Tenants. Rental Income (1) _ Rental Income Mee Tea ‘Retail Various (2) Ey
Slide 9: Portfolio Overview: Tenant Base
Portfolio Overview: Tenant Base Top 5 Tenants Tenant % of 2010 Contractual Income (1) S&P Credit Ratins Office Depot, Ine. 14.1% B Haverty Furniture Companies, Inc. 10.8% Not Rated Ferguson Enterprises, Inc. 5.9% Not Rated DSM Nutritional Products, Inc. 5.1% A L:3 Communications Corporation 4.6% BEB
Slide 10: Stable Financial Performance
Stable Financial Performance Rental Revenue (2) & Year End Occupancy (3) ‘+ 100.0% ——+ 100.0% + 100.0%, 97.6%-———* 98.6% $38,109 $39,016 S058 I I | 2009 FY 2010 Contractual (1)
Slide 11: Manageable Lease Expirations
Manageable Lease Expirations Lease Expiration Schedule 60% 08 12010 Rental Income 51% ©) mSquare Ft 449 40% 30% 20% 14982% 5% 1 T%T% B%ey 8% me 1% 1% 3%3% 4%3% 34% — Oe Py oe mo om om om! i SJ & av > oe J A $ SSK KF KS KK LK e 10 Rerneesnnes nitty es pepe
Slide 12: Financing Strategy
Financing Strategy » Emphasis on long-term fixed rate debt to lock-in returns 88% of total debt is fixed rate and non recourse As of 3/31/10, had 49% mortgage debt / total assets « Amortizing principal and laddered maturities to create manageable maturity schedule ~ 2010 schedule amortization of pri
Slide 13: Acquisition Strategy
Acquisition Strategy Focus on retail and operational essential industrial and office ° Emphasis on the underlying real estate fundamentals Focus on markets or industry sectors offering superior risk-adjusted returns Long-term net leases with scheduled rent increases Ability to identify and understan
Slide 14: Sources of Acquisitions
Sources of Acquisitions » Senior management's industry contacts © Brokers ° Off market transactions » Leasing agents ° Developers * Investment banks © Private equity/LBO
Slide 15: Acquisition Pipeline
Acquisition Pipeline » On March 4, 2010, we entered into an agreement to purchase from one seller in a sale- leaseback transaction five single tenant quick service restaurants in Pennsylvania, with approximately 13,500 aggregate square feet for approximately $6.1 million We expect to close on three
Slide 16: Case Study
Case Study © On February 24, 2010 acquired a retail shopping center in Royersford, PA (a suburb of Philadelphia) « The center is 99% occupied and leased to 10 different tenants ($mm) Purchase Price Mortgage Assumed Net Equity Invested Annual Rental Income Estimated recurring expenses Annual Interest
Slide 17: Management Team
Management Team © Chairman of the board since June 1989, Chief Executive Officer from December 1999 to December 2001 ‘and from July 2005 to December 2007 © Chairman of the board of BRT Realty Trust, a mortgage REIT, since 1964 © Chairman of the Managing General Partner of Gould Investors LP., since
Slide 18: Portfolio of Properties By State
Portfolio of Properties By State As of June 1, 2010 Name or Tenantid.b.a. City State Square Feet California’ | (fice Depot, ne East Palo Allo cA 3078 Playboy Entertanment Group, ie Los Angeles CA 105.262 2 137,240 Colorado “The Sports Author, Ine (Greenwood Vilage 00. 45.000 7 45,000. Delaware ] ‘Co
Slide 19: Portfolio of Properties By State
Portfolio of Properties By State As of June 1, 2010 Name or Tenantid.b. city State__Square Feet nots ‘Champaign (Games & Noble and Bed, Bath & Beyond) ‘Champaign om £0,580 ‘Office Depot, ne ‘chicago. 7 23,539) LaZBoy ‘Gunee m7 22.768, 3 97,257 ‘Kansas “Havertys Future Witcita 1S 3106, a 38,108 “Kent
Slide 20: Portfolio of Properties By State
Portfolio of Properties By State As of June 1, 2010 | Name or Tenantid.b. city State__Square Feet Massachussetts ‘CVS Caremark Corporation| Hyams WA 3.760 {CVS Caremark Corporation ‘Marstons Hs MA 8775 ‘Pep Boys - Manny, Moe & Jack Everett MA 18.572 ‘Walgreen Go ‘Somenvile MA 12,054 4 49.159 “Michig
Slide 21: Portfolio of Properties By State
Portfolio of Properties By State As of June 1, 2010 | Name or Tenantid.baa City State Square Feet ‘Newyork | “Ofteetiax, ne Batavia WY 785 “The ary of NewYork Brook NY 65,000" ‘3 Communicatons Comoran Hauppauge NY 149670, ‘Tor Fraays me. Hauppauge NY 7.000) DHL Bxress. nc Mev NY 31351 “Iniemational
Slide 22: Portfolio of Properties By State
Portfolio of Properties By State As of June 1, 2010 [ Name or Tenantia.b. Cit State__ Square Feet |S 7 lle! ‘Sweet Ovations LLC. ‘Phitadelphia PA 166,000, (Lakeview Shopping Centre (Kons, Giant Supermarket, Marshalls) Royersford PA 194,451 ‘The Men's Weamouse, Inc Monroevile PA 6,051 Iz 366,502 ‘Sou
Slide 23: Portfolio of Properties By State
Portfolio of Properties By State As of June 1, 2010 sme or Tenantid.b.a. ity State__Square Feet ‘Wom “Havertys Fumiture Newport News VA 49,065 “Haverys Future Richmond (oan) VA 38,788 ‘Havertys Furniture ugiia Beach VA 58.597 [2 147,590 ‘Washington “Payess shoesource, ine Seale WA 3088 7 3038 ‘Wisco
One Liberty Properties — NAREIT Presentation June 2010 on 6ix