Sila Realty Trust, Inc. · NYSE:SILA
Sila Realty Trust — Nareit REITweek 2023
34 slides from Sila Realty Trust's conference presentation, June 2023
Slide 1: Nareit REITweek Company Presentation June 2023
Nareit REITweek Company Presentation June 2023 Tampa Healthcare Facility II, Florida
Slide 2: Disclosures
Disclosures Forward Looking Statements Certain statements contained herein, other than historical fact, may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and
Slide 3: Introductions
Introductions Michael A. Seton Kay C. Neely Miles F. Callahan President & Chief Executive Officer Executive Vice President Senior Vice President, Founder & Board Member & Chief Financial Officer Capital Markets & Investor Relations Over 13 years at Sila Over 7 years at Sila Over 9 years at Sila 3
Slide 4: Company Overview
Company Overview Tucson Healthcare Facility IV, Arizona
Slide 5: At a Glance
At a Glance Sila Realty Trust, Inc. is a net lease real estate investment trust with a strategic focus on investing in the significant, growing, and resilient healthcare sector of the U.S. economy. What differentiates us? Portfolio Highlights • Sila is the only net lease REIT solely dedicated to inv
Slide 6: Sila Maintains Strong Metrics as Compared to Peers
Sila Maintains Strong Metrics as Compared to Peers Sila’s key fundamental metrics closely resemble net lease REIT peers, and rank amongst the top healthcare peers. Long Lease Term Portfolio Leased 11.4 Yrs 99.6% 99.4% 9.2 Yrs 5.9 Yrs 92.9% SILA Net Lease Healthcare SILA Net Lease Healthcare Peer Av
Slide 7: Asset Strategy & Platform Positioned for Growth
Asset Strategy & Platform Positioned for Growth Reliable Tenants Strategic Locations High Quality Facilities • Market leading providers with • On-campus or off-campus facilities in • Class A/recent construction or dominant market share retail-type locations renovation • Strong financial foundation w
Slide 8: Investment Highlights
Investment Highlights We believe that Sila’s high quality portfolio, attractive growth characteristics, conservative capital structure, and strong governance have positioned the Company for a potential public listing. • 131 properties(1), well-diversified through geography, tenancy, and across the c
Slide 9: Portfolio
1 Portfolio Escondido Healthcare Facility, California
Slide 10: Asset Focus Strategy
1 Asset Focus Strategy We invest in healthcare properties along the continuum of care, with an emphasis on lower cost patient settings. Highest Acuity Lowest Acuity (Highest Cost Settings) (Lowest Cost Settings) Acute Care Post Acute Care Outpatient Senior Housing Long-Term Medical Office Independen
Slide 11: Portfolio Statistics
1 Portfolio Statistics Sila’s 131 healthcare properties are well-diversified through tenancy and across the continuum of care. Tenant Diversification (ABR(1)(2)) Property Type Diversification (ABR(1), Properties) Post Acute Medical, LLC 15 Properties 14.8% Medical Office Building 2.1%, Board of Rege
Slide 12: Geographical Diversification
1 Geographical Diversification We seek to acquire and own healthcare real estate diversified across the country, with a focus on “Smile State” markets with strong demographic, economic, and social drivers. Las Vegas, Nevada Dallas, Texas Top 5 States by ABR(1) Tampa, Florida Texas Oklahoma Californi
Slide 13: Growth Opportunities
2 Growth Opportunities Webster Healthcare Facility II, Texas
Slide 14: Proven Track Record of Capital Allocation
2 Proven Track Record of Capital Allocation With a multifaceted investment strategy, our seasoned leadership team utilizes our deep industry relationships while being supported by our disciplined underwriting team with a dual focus on both real estate and tenant credit. Portfolio Growth Acquisitions
Slide 15: Recent Acquisitions & Developments
2 Recent Acquisitions & Developments Sila continues to acquire and develop institutional quality healthcare facilities that complement its already strong and resilient portfolio. The Company remains focused on creating additional value for stockholders through accretive opportunities in the market,
Slide 16: Operating Metrics
3 Operating Metrics Tampa Healthcare Facility, Florida
Slide 17: Strong Operating Metrics
3 Strong Operating Metrics Year-over-year the Company has demonstrated admirable operating metrics through the combination of a strong and resilient portfolio paired with strategic and meaningful transactions. Operational Highlights Portfolio Leased • Sila’s high quality portfolio of diversified ass
Slide 18: Consistent Operating Performance
3 Consistent Operating Performance Sustained operating metrics further demonstrate the dependability of our tenants and assets. Rental Revenue(1) Cash NOI(1) $180.0 M $172.8 M $165.8 M $162.6 M $148.1 M $135.4 M $101.2 M $82.0 M $49.6 M $45.6 M 2019 2020 2021 2022 1Q23 2019 2020 2021 2022 1Q23 EBITD
Slide 19: Balance Sheet
4 Balance Sheet Allen Healthcare Facility, Texas
Slide 20: Fortified Balance Sheet
4 Fortified Balance Sheet Sila’s strong balance sheet exhibits efficient use of capital and a disciplined debt strategy, allowing for significant operational flexibility and future growth. Balance Sheet Highlights Debt Maturity Schedule(2)(3) • Approximately $522M liquidity available $0.0 M • Liquid
Slide 21: Leadership
5 Leadership Silverdale Healthcare Facility, Washington
Slide 22: Experienced Management Team
5 Experienced Management Team Our accomplished leadership team has more than a century of relevant industry experience. Michael A. Seton President and Chief Executive Officer 30+ years of experience in real estate investment and finance, completing billions of dollars in real estate transactions Kay
Slide 23: Robust Corporate Governance Led by Experienced Board of Directors
5 Robust Corporate Governance Lead by Experienced Board of Directors Our Board of Directors brings a diverse array of industry insights and business experience and perspectives to the Company. Jonathan Kuchin, Chairman of the Board* Member of Audit Committee • Formerly Tax Partner at PWC - Focused o
Slide 24: Corporate Governance
5 Corporate Governance 10+ years as an SEC registrant Non-staggered annual Insider trading and minimum (since inception) elections of Board of Directors stock ownership policies Experienced Board of Code of Business Conduct and Annual certifications and Directors, Audit Committee, Ethics
Slide 25: Environmental, Social & Governance
6 Environmental, Social & Governance Katy Healthcare Facility, Texas
Slide 26: Environmental, Social & Governance
6 Environmental, Social & Governance Sila believes in maintaining a healthy, prosperous, and sustainable work environment through stewardship of the environment, the community, the employees, and strong corporate governance practices. Environmental Social Governance • Implemented green leasing initi
Slide 27: Appendix
Appendix Akron Healthcare Facility, Ohio
Slide 28: Non-GAAP Measures and Definition of Terms
Non-GAAP Measures and Definition of Terms Adjusted Fair Value of Real Estate Investments Adjusted fair value of real estate investments is calculated using the real estate values determined as of the most recent NAV (as defined below), adjusted for property acquisitions and dispositions, major capit
Slide 29: Non-GAAP Measures and Definition of Terms
Non-GAAP Measures and Definition of Terms Funds from Operations (FFO), Core FFO, and Adjusted FFO (AFFO) FFO, a non-GAAP financial measure, is calculated consistent with NAREIT’s definition, as net income (loss) (calculated in accordance with GAAP), excluding gains (or losses) from sales of real est
Slide 30: Non-GAAP Measures and Definition of Terms
Non-GAAP Measures and Definition of Terms Funds from Operations (FFO), Core FFO, and Adjusted FFO (AFFO) (Cont’d) Year Ended Quarter Ended March 31, 2019 2020 2021 2022 2023 Net income (loss) attributable to common stockholders $ 2,782 $ 36,776 $ 402,660 $ (7,978) $ 14,200 Adjustments: Depreciation
Slide 31: Non-GAAP Measures and Definition of Terms
Non-GAAP Measures and Definition of Terms Liquidity A financial metric that represents the outstanding cash and cash equivalents combined with the remaining borrowing base availability on the Company’s credit facility at the end of the period. Net Asset Value (NAV) NAV is determined by the board of
Slide 32: Non-GAAP Measures and Definition of Terms
Non-GAAP Measures and Definition of Terms Net Operating Income (NOI) and Cash NOI NOI, a non-GAAP financial measure, is defined as rental revenue, less rental expenses, on an accrual basis, excluding general and administrative expenses, depreciation and amortization, impairment losses, gain on real
Slide 33: Non-GAAP Measures and Definition of Terms
Non-GAAP Measures and Definition of Terms Net Operating Income (NOI) and Cash NOI (Cont’d) Year Ended Quarter Ended March 31, 2019 2020 2021 2022 2023 Healthcare: Rental revenue $ 101,212 $ 165,781 $ 172,838 $ 179,986 $ 49,644 Rental expenses (10,714) (16,397) (17,712) (17,950) (4,850) Net operating
Slide 34: Contact Information
Contact Information Corporate Address Miles Callahan 1001 Water Street Senior Vice President, Suite 800 Capital Markets & Investor Relations Tampa, FL 33602 833.404.4107 IR@silarealtytrust.com www.SilaRealtyTrust.com