Industrial Logistics Properties Trust · NASDAQ:ILPT
Industrial Logistics Properties Trust — Investor Presentation (June 2025)
23 slides from Industrial Logistics Properties Trust's investor presentation, Jun 2, 2025
Slide 1: Industrial Logistics Properties Trust Investor Presentation June 2025
INDUSTRIAL LOGISTICS PROPERTIES TRUST November 2024 INVESTOR PRESENTATION Burlington, NJ 633,836 Square Feet ILPT Ownership: 100% June 2025 INVESTOR PRESENTATION
Slide 2: Forward-looking statements
2 INDUSTRIAL LOGISTICS PROPERTIES TRUST This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws that are subject to risks and uncertainties. These statements may include words such as “believe”, “expec
Slide 3: ILPT at a Glance
3 INDUSTRIAL LOGISTICS PROPERTIES TRUST 3 U.S. REIT with 411 Industrial & Logistics Properties ILPT AT A GLANCE Industrial Logistics Properties Trust (Nasdaq: ILPT) is a REIT focused on owning and leasing high quality industrial and logistics properties. Approximately 76% of ILPT’s annualized rental
Slide 4: Geographic Diversity with a Unique Hawaiian Footprint
4 INDUSTRIAL LOGISTICS PROPERTIES TRUST 4 1 1 7 15 8 4 1 11 9 5 4 3 5 3 7 4 5 1 2 1 4 2 5 20 6 3 10 1 6 10 2 6 1 1 2 HI, 27.7% OH, 7.0% SC, 5.8% FL, 5.1% GA, 4.7% IN, 4.9% TX, 4.3% NJ, 3.3% TN, 2.9% NC, 2.3% 29 Other States, 32.0% GEOGRAPHIC DIVERSITY WITH A UNIQUE HAWAIIAN FOOTPRINT Location and Nu
Slide 5: Recent Business Highlights
5 INDUSTRIAL LOGISTICS PROPERTIES TRUST RECENT BUSINESS HIGHLIGHTS Full Year 2024 5 Q1 2025 (1) Reflects change from the prior rents for the same space. Based on weighted average by square feet. (2) Figures represent a decline in ILPT’s net loss attributable to common shareholders for the periods sh
Slide 6: Debt Summary
DEBT SUMMARY ILPT Secured Floating Rate Debt $1.2B Mountain JV Secured Floating Rate Debt $1.4B Secured Fixed Rate Debt $1.7B $1,235.0 $1,400.0 $14.2 $19.5 $20.2 $21.0 $671.8 $921.5 2025 2026 2027 2028 2029 Thereafter Secured fixed rate debt Secured floating rate debt of consolidated joint venture S
Slide 7: High Quality Industrial Properties
7 INDUSTRIAL LOGISTICS PROPERTIES TRUST Warehouse & Distribution: 66% Ground Lease: 28% Light Manufacturing: 6% HIGH QUALITY INDUSTRIAL PROPERTIES Property Type by % of Total Annualized Rental Revenues Tenant Industry Type % of Total Annualized Rental Revenues Transportation & Shipping 38.2% Constru
Slide 8: Strong Credit Profile Across Sectors
8 INDUSTRIAL LOGISTICS PROPERTIES TRUST STRONG CREDIT PROFILE ACROSS SECTORS Approximately 76% of annualized rental revenues are derived from investment grade rated tenants/subsidiaries or from secure Hawaii land leases. Tenant Credit Characteristics % of Total Annualized Rental Revenues Other Unrat
Slide 9: Portfolio Q1 2025 Results
9 INDUSTRIAL LOGISTICS PROPERTIES TRUST Mountain Industrial JV (2) Consolidated ILPT (1) 61% Ownership 94 Properties 99.8% Occupancy $33.8M NOI $32.8M Cash Basis NOI $30.7M Adjusted EBITDAre $3.1B Total Gross Assets (1) Excludes one consolidated mainland property containing approximately 64,000 rent
Slide 10: Proactive Asset Management and Leasing
1,981 628 2,757 731 2,319 38.3% 15.8% 7.0% 39.3% 18.9% -100.0 400.0 900.0 1,400.0 1,900.0 2,400.0 2,900.0 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Total Leasing (Sq. Ft.) Rental Rates PROACTIVE ASSET MANAGEMENT AND LEASING Leasing Activity Square Footage in thousands INDUSTRIAL LOGISTICS PROPERTIES T
Slide 11: Lease Expirations and Rent Resets by Investment Portfolio
LEASE EXPIRATIONS AND RENT RESETS BY INVESTMENT PORTFOLIO INDUSTRIAL LOGISTICS PROPERTIES TRUST 11 Hawaii Property Expirations and Rent Resets % of Total ILPT Annualized Rental Revenues Mountain Joint Venture Expirations % of Total ILPT Annualized Rental Revenues Wholly Owned Mainland Property Expir
Slide 12: Managed by The RMR Group, an Alternative Asset Manager
12 INDUSTRIAL LOGISTICS PROPERTIES TRUST RMR’s Operations Include: National Multi-Sector Investment Platform INDUSTRIAL SENIOR LIVING MEDICAL OFFICE LIFE SCIENCE HOTELS RETAIL OFFICE RMR Managed Companies Over 18,000 Employees Approximately 1,900 Properties More than $5 billion in Annual Revenues Ap
Slide 13: RMR Management Fee Structure
13 INDUSTRIAL LOGISTICS PROPERTIES TRUST • Base business management fee: 0.5% multiplied by the lower of (i) gross historical cost of real estate or (ii) average market cap. (1) • Property management fees: 3% of gross collected rents and 5% of construction costs. • Incentive management fee: 12% of t
Slide 14: A Winning Tradition
14 INDUSTRIAL LOGISTICS PROPERTIES TRUST A WINNING TRADITION To find out more about RMR’s highlights, insights and accomplishments, please visit The RMR Group’s Annual Sustainability Report. EPA’S 2024 ENERGY STAR® Partner of the Year. 88 properties with EPA ENERGY STAR certifications 92 properties
Slide 15: Appendix
15 INDUSTRIAL LOGISTICS PROPERTIES TRUST APPENDIX Murfreesboro, TN 1,016,281 Square Feet ILPT Ownership: 100% 15
Slide 16: Selected Financial Information
16 INDUSTRIAL LOGISTICS PROPERTIES TRUST SELECTED FINANCIAL INFORMATION (dollars in thousands, except per share data) As of and for the Three Months Ended 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 Selected Income Statement Data: Rental income $ 111,905 $ 110,521 $ 108,945 $ 110,621 $ 112,23
Slide 17: Calculation of Non-GAAP Financial Measures
17 INDUSTRIAL LOGISTICS PROPERTIES TRUST CALCULATION OF NON-GAAP FINANCIAL MEASURES (dollars in thousands) For the Three Months Ended 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 Calculation of NOI and Cash Basis NOI: Rental income $ 111,905 $ 110,521 $ 108,945 $ 110,621 $ 112,235 Real estate
Slide 18: Calculation of Non-GAAP Financial Measures (Continued)
18 INDUSTRIAL LOGISTICS PROPERTIES TRUST CALCULATION OF NON-GAAP FINANCIAL MEASURES (Continued) (1) Incentive management fees are estimated and accrued during the applicable measurement period. Actual incentive management fees will be calculated based on common share total return, as defined in ILPT
Slide 19: Calculation of Non-GAAP Financial Measures (Continued)
19 INDUSTRIAL LOGISTICS PROPERTIES TRUST CALCULATION OF NON-GAAP FINANCIAL MEASURES (Continued) (dollars in thousands) (1) Incentive management fees are estimated and accrued during the applicable measurement period. Actual incentive management fees will be calculated based on common share total ret
Slide 20: Calculation of Non-GAAP Financial Measures (Continued)
20 INDUSTRIAL LOGISTICS PROPERTIES TRUST CALCULATION OF NON-GAAP FINANCIAL MEASURES (Continued) (dollars in thousands, except per share data) For the Three Months Ended 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 Normalized FFO attributable to common shareholders $ 13,490 $ 8,877 $ 8,063 $ 8,
Slide 21: Key Financial Data by Investment Portfolio
21 INDUSTRIAL LOGISTICS PROPERTIES TRUST KEY FINANCIAL DATA BY INVESTMENT PORTFOLIO (dollars and sq. ft in thousands, except per sq. ft.) (1) With the exception of measures attributable to common shareholders, amounts shown reflect 100% ownership interest of this joint venture, not ILPT's proportion
Slide 22: Non-GAAP Financial Measures and Certain Definitions
22 INDUSTRIAL LOGISTICS PROPERTIES TRUST NON-GAAP FINANCIAL MEASURES AND CERTAIN DEFINITIONS Non-GAAP Financial Measures: ILPT presents certain “non-GAAP financial measures” within the meaning of the applicable rules of the SEC, including net operating income, or NOI, Cash Basis NOI, earnings before
Slide 23: Non-GAAP Financial Measures and Certain Definitions (Continued)
23 INDUSTRIAL LOGISTICS PROPERTIES TRUST NON-GAAP FINANCIAL MEASURES AND CERTAIN DEFINITIONS (CONTINUED) Certain Definitions: Annualized dividend yield - Annualized dividend yield is the annualized dividend paid during the applicable period divided by the closing price of ILPT's common shares at the
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