Equity Lifestyle Properties, Inc. · NYSE:ELS
Equity Lifestyle Properties — Investor Presentation (September 2018)
16 slides from Equity Lifestyle Properties's investor presentation, Sep 21, 2018
Slide 1: Equity LifeStyle Properties
Exhibit 99.1 Equity LifeStyle PropertiesExhibit 99.1 Equity LifeStyle Properties
Slide 2: Our Story
Our Story • One of the nation’s largest real estate networks with 410 properties containing 153,549 sites in 32 states and British Columbia • Unique business model u Own the land u Low maintenance costs/customer turnover costs u Lease developed sites • High-quality real estate locations u More than
Slide 3: Property Locations
Property Locations 4 3 2 ME WA ND MT MN 4 3 OR VT WI NH 4 4 ID NY 3 MA SD MI WY 2 2 CA 3 RI 5 CT 7 6 6 6 NE IA PA NV IN OH 6 NJ UT 2 9 2 IL 16 DE WV CO MD KS 4 MO KY 7 VA AZ 4 11 NC TN OK 6 26 NM SC AR 6 AL GA MS TX LA 9 6 FL 18 12 42 9 16 14 13 10 2Property Locations 4 3 2 ME WA ND MT MN 4 3 OR VT
Slide 4: Steady, Predictable Revenue Streams
Property Operating Steady, Predictable Revenue Streams (2) Revenue Buckets (1) Property/Site composition Transient 5.9% • 208 manufactured/resort Seasonal 4.1% home communities u 74,100 sites Annual Right to Use 6.6% • 191 RV resorts u 77,100 sites – Annuals 29,400 Annual RV – Seasonal 11,600 15.9%
Slide 5: Our Lifestyle Options
RV Site Manufactured Home Our Lifestyle Options • Customers own the units they place on our sites u Manufactured homes u Resort cottages (park models) u Recreational vehicles • We offer a lifestyle and a variety of product options to meet our customers’ needs • We seek to create long-term relationsh
Slide 6: Favorable Customer Demographics
Favorable Customer Demographics • The population of people age 55 and older in the U.S. is expect ed to grow 22% from 2018 to 2033 • Roughly 10,000 Baby Boomers will turn 65 every day through 2030 U.S. Population Age 55 and Over (in millions) 120 120 100 100 80 80 New Residents 60 u MH Average age:
Slide 7: 10-Year Total Return Performance Track Record
10-Year Total Return Performance 500 Track Record 500 400 400 300 300 200 200 IPO Year - 1993 2018 Item 100 100 Properties 41 410 0 0 Sites 12,312 153,549 -100 -100 States 16 32 (1) Net Income Per Share $0.35 $2.41 S&P 500 (+180%) SNL US REIT Equity (+124%) ELS (+400%) ELS (+400%) S&P 500 (+180%) SN
Slide 8: Consistent Same Store NOI Growth and Outperformance
Consistent Same Store 10% 9% NOI Growth and 8% ELS 7% Average Outperformance 4.0% 6% 5% Apartments 4% Average 3% 3.2% ELS has maintained Industry 2% Average positive same store 1% 3.1% 0% NOI growth in all -1% quarters since -2% at least Q3 1998. -3% -4% -5% -6% -7% -8% Note: (1) Source for Same Sto
Slide 9: Development Projects
Development Projects ViewPoint - AZ 201 MH Verde Valley - AZ 62 RV Westpark - AZ 18 MH Lake Conroe - TX 67 RV Crystal Lake - FL 139 MH 203 MH Orlando - FL 167 RV Colony Cove - FL Clover Leaf- FL 292 MH 66 MH 8Development Projects ViewPoint - AZ 201 MH Verde Valley - AZ 62 RV Westpark - AZ 18 MH Lake
Slide 10: Loan Maturity and Capital Structure
Loan Maturity as of June 30, 2018 Capital Structure As of August 31, 2018 (in millions) • Total enterprise value is $11.5 billion • Debt to enterprise value is 19.6% • $390 million available line of credit (1) OPUs $558.9, 4.8% Term Loan $200.0, 1.7% Line of Credit $10.0, 0.1% Mortgage Debt $2,042.6
Slide 11: Dividend
Dividend Dividend per Share $2.50 (1) • 2018 – $2.20/share (1) $1.00 $2.20 g $2.00 u 13% increase u 8% FFO growth $1.50 • Dividend growth $1.00 u 5 year CAGR (2) u ELS 17% $0.50 (3) u REIT Average 6% $0.00 2013 2014 2015 2016 2017 2018 • Tax treatment of dividend (4) (5) ELS REIT average u 70% Ordin
Slide 12: Funds From Operations
Funds From Operations $350 $332 • Committed Capital $303 Principal $300 $66 $261 Recurring Capex $68 $250 Dividend $44 $51 $40 $40 $200 $36 • Discretionary Capital $38 Acquisitions $37 $150 Working Capital $182 $100 Development $157 $137 $50 $ 2015 2016 2017 Residual FFO Recurring Capex Principal Pa
Slide 13: Performance Update
Performance Update (1) (1) • 203 Manufactured Home Communities • 190 RV Resorts (2) uu Core occupancy of 94.6% as of 8/31/18 Core resort base rental income growth for the two months ended u Core occupancy has grown 35 consecutive (3) 8/31/18 is 6.4% quarters through 6/30/18 u Core rental income grow
Slide 14: Safe Harbor Statement
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: The forward-looking statements contained in this presentation are subject to certain economic risks and uncertainties described under the heading “Risk Factors” in our 2017 Annual Report on Form 10-K and our Quarterly
Slide 15: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation contains certain non-GAAP measures used by management that we believe are helpful in understanding our business, as further discussed in the paragraphs below. We believe investors should review these non-GAAP measures, along with GAAP net income and cash
Slide 16: Equity LifeStyle Properties
Equity LifeStyle Properties Two North Riverside Plaza, Chicago, Illinois 60606 (800) 247-5279 | EquityLifeStyleProperties.com 9/18Equity LifeStyle Properties Two North Riverside Plaza, Chicago, Illinois 60606 (800) 247-5279 | EquityLifeStyleProperties.com 9/18
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