Creative Media · NASDAQ:CMCT
Creative Media — CIM Commercial Trust — FY2015 Earnings Presentation
18 slides from Creative Media's earnings presentation, Mar 18, 2016
Slide 1: Important Disclosures: Forward-Looking Statements
IMPORTANT DISCLOSURES FORWARD-LOOKING STATEMENTS The information set forth herein contains "forward-looking statements" and projections. You can identify these statements and projections by the fact that they do not relate strictly to historical or current facts or discuss the business and affairs o
Slide 2: CIM Commercial Trust (NASDAQ: CMCT)
Cim Commercial trust CIM COMMERCIAL TRUST (NASDAQ: CMCT) Portfolio Quality real estate portfolio in high density, high barrier–to-entry urban markets including: San Francisco Bay Area Washington, DC Los Angeles 20 Office properties with 5.6 million rentable square feet accounted for 80% of 2015 cash
Slide 3: Key Events in CMCT's History
KEY EVENTS IN CMCT’s HISTORY 2005 CIM Group formed CIM REIT with 24 private institutional investors 2005-Present Acquired 35 high-quality urban real estate properties1 May 2015 Closed $385 million seven-year unsecured term loan facility August 2014 Charles Garner appointed CEO; Mr. Garner is one of
Slide 4: CMCT Investment Thesis
CMCT Investment thesis NAV/Share Focus + Urban Office + Large-Scale Platform + Ability to Move Growth Needle Resources & Expertise of Premier Institutional Manager Investment Sourcing Capabilities Coastal Urban Class A and Creative Office Investments Same Store Growth Opportunity Conservative Capita
Slide 5: Coastal Urban Class A and Creative Office Portfolio, 12/31/15
Coastal Urban Class A and Creative Office Portfolio, 12/31/15 Note: All NOI figures contained herein are based on cash NOI unless otherwise noted. Cash NOI is defined as property level GAAP basis NOI adjusted to exclude straight line rent revenue/expense and amortization of intangible assets/liabili
Slide 6: Same Store Growth Opportunity
Same store growth opportunity Same Store NOI CAGR 6%-8% 1/3 Lease-up 2/3 Mark-to-market Development Contribution of Additional 1%-2% Land already owned in Washington DC, Oakland and Austin Total CAGR of 7%-10% Targeting Same Store Office and Multifamily Cash NOI CAGR of 6% - 8% Through 2020 7 Please
Slide 7: Resources & Expertise of Premier Institutional Manager - CIM Group
Strategies Core/Stabilized Equity Value-Add Equity Opportunistic Equity Debt Infrastructure Resources & Expertise of Premier Institutional Manager- CIM Group Established Established in 1994 as a partner for investors seeking to capitalize on U.S. urbanization Office Locations Headquartered in Los An
Slide 8: Resources & Expertise of Premier Institutional Manager - CIM Group
Resources & Expertise of Premier Institutional Manager- CIM Group Seasoned, Vertically-Integrated Team Full-service investment manager Research, investment, acquisition and finance Development, leasing and management “Qualified Community” Methodology Sector-agnostic focus: Market values that are bel
Slide 9: Resources & Expertise of Premier Institutional Manager - CIM Group
Resources & Expertise of Premier Institutional Manager- CIM Group Charles Garner CMCT Chief Executive Officer and CIM Group Principal CEO of CMCT and serves on CIM Group’s Investment and Asset Management Committees Prior to joining CIM, worked closely with the firm in various capacities since 1996,
Slide 10: Resources & Expertise of Premier Institutional Manager - CIM Group
RESOURCES & EXPERTISE OF PREMIER INSTITUTIONAL MANAGER- CIM GROUP CMCT * Co-founder of Cim Group in 1994 and chats the fe’ Investment and Asset Management Committees Founder and President of Orchard Capital Cor. fem that provides consuling and advisory services fo companies in ‘which Orchard Capital
Slide 11: CMCT Real Estate Portfolio As of 12/31/2015
CMct Real Estate Portfolio 12 As of 12/31/2015
Slide 12: CIM Qualified Community Methodology
CIM QUALIFIED COMMUNITY METHODOLOGY 13 Qualification Criteria Transitional Urban Districts Improving demographics Broad public support for CIM’s investment approach Evidence of private investment from other institutional investors Underserved niches in the community’s real estate infrastructure Pote
Slide 13: CIM Group Qualified Communities
CIM GROUP QUALIFIED COMMUNITIES 14 CMCT Properties Areas with CIM Group Investment(s) Areas Approved for Investment CIM Group Headquarters CIM Group Corporate Offices
Slide 14: Consolidated Statements of Operations and Funds from Operations
CONSOLIDATED STATEMENTS OF OPERATIONS and funds from operations 15 (Unaudited)
Slide 15: Consolidated Balance Sheets
CONSOLIDATED BALANCE SHEETS 16 (In thousands)
Slide 16: Debt Summary - Continuing Operations
Debt summary- CONTINUING OPERATIONS 17 CMCT's Unsecured Credit Facility is comprised of a revolving credit facility, a term loan, and a delayed draw term loan. At December 31, 2015, the interest rates applicable to the components of CMCT's Senior Unsecured Credit Facility were based on LIBOR plus an
Slide 17: Important Disclosures: Assets and Equity Under Management
Important Disclosures Assets and Equity Under Management Assets Under Management (“AUM”), or Gross AUM, represents (i)(a) for real assets, the aggregate total gross assets (“GAV”) at fair value, including the shares of such assets owned by joint venture partners and co-investments, of all of CIM’s a
Slide 18: Important Disclosures
IMPORTANT DISCLOSURES C MCT ‘Assets ond Equity Under Menagement + Assets Under Management "AUM) c Goss AUM. represents if} fr fea aes the epmregoe fla goss axes ("CAV") ot fl vale ncng the shares of such assets owned by jit verte ‘ertnes ond conmverimerts ofa of CP's vied secounfeach on "Aecount and