Sila Realty Trust, Inc. · NYSE:SILA
Sila Realty Trust — Nareit REITweek 2025
37 slides from Sila Realty Trust's conference presentation, June 2025
Slide 1: Nareit REITweek Company Presentation
Nareit REITweek Company Presentation June 2025 Skillful and Thoughtful Investing
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 Kay C. Neely Michael A. Seton Christopher K. Flouhouse Miles F. Callahan Executive Vice President President and Chief Executive Officer Executive Vice President Senior Vice President and Chief Financial Officer Founder and Board Member and Chief Investment Officer Capital Markets and 3
Slide 4: Sila Realty Trust is a net lease REIT focused on institutional quality healthcare properties
Sila Realty Trust is a net lease REIT focused on institutional quality healthcare properties along the continuum of care. We believe Sila offers REIT investors the best of both worlds - participation in the large and defensive healthcare sector while receiving the benefits of a triple net lease stru
Slide 5: At a Glance
At a Glance Portfolio Highlights 136 96.0% $2.3B 99.9% Properties(1) Portfolio Leased Total Real Estate Triple Net or Absolute Investment at Cost Net Leased 5.3M 9.7 Yrs 2.2% 5.30x Rentable Square Feet Wtd. Average Wtd. Average Contractual Wtd. Average EBITDARM Remaining Lease Term Annual Rent Escal
Slide 6: Sila's Philosophy and Objectives
Sila’s Philosophy and Objectives Growth Investment • Long lease terms and contractual rent growth • High-quality healthcare facilities across the support long-term, sustainable earnings continuum of care, strategically located and growth leased to reliable tenants • Triple-net lease structure limits
Slide 7: Sila Demonstrates Strong Metrics Relative to Peers
Sila Demonstrates Strong Metrics Relative to Peers Long Lease Term Portfolio Leased 10.9 Yrs 99.1% 9.7 Yrs 96.0% 92.0% 5.7 Yrs SILA Net Lease Healthcare SILA Net Lease Healthcare Peer Average Peer Average Peer Average Peer Average Low Leverage (Net Debt / EBITDAre) AFFO Payout Ratio 6.1x 82.9% 4.7x
Slide 8: Why Healthcare? A Large, Growing Market in a Defensible Sector
Why Healthcare? A Large, Growing Market in a Defensible Sector Number of Americans Aged 65+ US Per Capita Healthcare Spending (2024) $40,000 85+ $35,000 $30,000 47% $25,000 increase 65-84 $20,000 $15,000 45-64 $10,000 19-44 2022 2050 $5,000 <18 $0 58 Million 82 Million -10% 0% 10% 20% 30% 40% 50% 60
Slide 9: Net Lease REIT Focused on High-Quality Healthcare Assets
Net Lease REIT Focused on High-Quality Healthcare Assets Healthcare trends are shifting patients to cost-effective, easy-to-access, healthcare settings, driving demand for strategic asset classes along the healthcare continuum. Highest Acuity Lowest Acuity (Highest Cost Settings) (Lowest Cost Settin
Slide 10: The Case for Medical Outpatient Buildings (MOBs)
The Case for Medical Outpatient Buildings (MOBs) • Strong Tailwinds • Seniors are expected to increase total outpatient healthcare spending by Sila MOB Highlights 31% to nearly $2 trillion by 2030. • MOBs optimize operational efficiency and reduce costs for healthcare providers. $62.4M 37.0% • Patie
Slide 11: The Case for Inpatient Rehabilitation Facilities (IRFs)
The Case for Inpatient Rehabilitation Facilities (IRFs) • Robust Post-Acute Care Market Growth • The U.S. post-acute care market is projected to nearly double over the next Sila IRF Highlights decade, growing from $820 billion in 2022 to $1.6 trillion by 2032, reflecting a CAGR of 7.1%. • Demographi
Slide 12: The Case for Surgical & Specialty Facilities
The Case for Surgical & Specialty Facilities • Surgical Hospitals • While many routine surgeries have migrated to outpatient settings, inpatient Sila Surgical & Specialty surgical hospitals are indispensable for complex procedures such as Facility Highlights cardiovascular surgeries, neurosurgeries,
Slide 13: Geographic Diversification with a Focus on Growing Demographics
Geographic Diversification with a Focus on Growing Demographics Top Five States by ABR(1) 28.1% Texas 7.2% Oklahoma 5.7% Louisiana 5.5% Arizona (1) Represents each state’s annualized March 2025 contractual base rent as a percentage of total annualized March 5.1% 2025 contractual base rent. Californi
Slide 14: Proven Acquisition Track Record
Proven Acquisition Track Record 2025 YTD 2023 Acquisitions: Acquisitions: 2 Properties Portfolio $59M 2 Properties Dispositions: $70M None 136 Properties(1) 2021 Dispositions: 3 Properties Acquisitions: $271M 4 Properties $2.3B $71M Total Real Estate Dispositions: Investment at Cos
Slide 15: Broad Acquisition Sourcing Network Affords Opportunity to be Highly Selective
Broad Acquisition Sourcing Network Affords Opportunity to be Highly Selective Sila’s Acquisitions and Credit Underwriting teams evaluated over 300 healthcare investment opportunities over the last four quarters. TTM Investment Opportunities Strong relationships with tenants, private real estate owne
Slide 16: Asset Strategy and Platform Positioned for Growth
Asset Strategy and Platform Positioned for Growth High Quality Facilities • Class A, recent construction or newly renovated properties, purpose built for healthcare services • Single or multi-tenant facilities with strong anchor tenants • Specialized facilities with substantial tenant buildout • Lon
Slide 17: Strategy in Action: Dover Healthcare Facility
Strategy in Action: Dover Healthcare Facility $23.5 Million High Quality Facilities Purchase Price Institutional quality and well-maintained facility with adjacent land parcels on either side offering expansion opportunities beyond the existing, well utilized, facility envelope. Transaction Details
Slide 18: Strategy in Action: Knoxville Healthcare Facility
Strategy in Action: Knoxville Healthcare Facility $35.3 Million High Quality Facilities Purchase Price(1) Recently constructed, heavily utilized facility that was built-to-suit for the tenant’s specific needs; including expansion options within the existing footprint to accommodate continued growth.
Slide 19: Tenant Strength and Recognition
Tenant Strength and Recognition Tenant Diversification(1)(2) 15 Properties 15.6% 7 Properties 7.8% 9 Properties 6.8% 9 Properties 5.8% Top Ten Tenant Highlights 8 Properties 5.5% 68 62.9% 11.1 Yrs Properties Total Portfolio ABR WALT 8 Properties 5.5% 2 Properties 4.9% 89.7% $34.50 ABR with > 5 Yrs t
Slide 20: EBITDARM Coverage Ratio
EBITDARM Coverage Ratio EBITDARM Coverage Ratio(1)(2) % of ABR by EBITDARM Coverage Ratio(1)(2)(4) 30% 27.4% % of EBITDARM ABR Coverage 25% Medical Outpatient Building 15.4% 7.58x 20% Inpatient Rehabilitation Facility 29.9% 4.24x 15.9% Surgical and Specialty Facilities(3) 28.0% 5.19x 15% 12.6% 10.9%
Slide 21: Diversified and Secure Tenancy
Diversified and Secure Tenancy Sila’s 136 operating healthcare properties are well-diversified through tenancy and across the continuum of care, reducing overexposure to any single healthcare subtype. Property Type Diversification(1) (ABR(2), Properties) Single/Multi-Tenant Concentrations 37.0% Medi
Slide 22: Strong Operating Metrics from Long-Term Leases
Strong Operating Metrics from Long-Term Leases Annual Lease Escalation Structure Tenant Lease Expiration Schedule(1) $80M 10.5% 2.0M 10.1% $60M ABR(2) Square Feet CPI $40M ABR(2) Contractual 1.0M $20M 89.9% 89.5% Leases(3) $0M 0.0M 2025 2027 2029 2031 2033 Thereafter Annualized Base Rent Expiring Le
Slide 23: Fortified Balance Sheet
Fortified Balance Sheet FFO Payout Ratio (1) AFFO Payout Ratio (1) $598.5M 76.4% 74.5% 77.3% 77.1% 68.8% 69.7% Liquidity(6) 2023 2024 2025 YTD 2023 2024 2025 YTD 94% Net Debt / EBITDAre(2) Net Debt Leverage Ratio(3) Fixed Rate Debt(7) 3.3x 3.5x 26.5% 26.2% 2.1x 16.1% 2023 2024 Q1 2025 2023 2024 Q1 2
Slide 24: Experienced Management Team
Experienced Management Team 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 • Formerly served as Managing Director and Division Head of Originations at Eurohypo AG (now
Slide 25: Robust Corporate Governance Led by Experienced Board of Directors
Robust Corporate Governance Led by Experienced Board of Directors Jonathan Kuchin, Chairman of the Board* Member of Audit Committee • Formerly Tax Partner at PWC - Focused on public and private REITS, SEC reporting for public REITS and income tax accounting • Prior experience includes accounting for
Slide 26: Commitment to Corporate Governance
Commitment to Corporate Governance Board Composition Board Procedures Board Policies Experienced Board of Directors, Audit Committee, Non-staggered annual elections of Insider trading and minimum stock Compensation Committee, and Nominating and Board of Directors ownership policies Corporate G
Slide 27: Management with a History of Executing on Shareholder Friendly Initiatives
Management with a History of Executing on Shareholder Friendly Initiatives Internalization of management and rebranding Sale of predecessor to Sila Realty Trust, Inc. company’s data center Cash paid for internalization Added new board portfolio, $556.2M was recouped in less than members, bringing sp
Slide 28: Appendix
Appendix Marana Healthcare Facility, Arizona
Slide 29: 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 30: Non-GAAP Measures and Definition of Terms
Non-GAAP Measures and Definition of Terms Earnings Before Interest, Taxes, Depreciation, Amortization, Rent and Management Fees (EBITDARM) The Company utilizes EBITDARM, a supplemental non-GAAP performance measure, to evaluate the core operations of our tenants and/or guarantors (together, the “Obli
Slide 31: Non-GAAP Measures and Definition of Terms
Non-GAAP Measures and Definition of Terms Enterprise Value Enterprise value represents market capitalization plus net debt. 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 (calculated i
Slide 32: 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) Three Months Ended Year Ended March 31, December 31, December 31, 2025 2024 2023 Net income attributable to common stockholders $ 7,898 $ 42,657 $ 24,042 Adjustments: Depreciation and am
Slide 33: 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 a point in time. Market Capitalization The total number of outstanding shares o
Slide 34: Non-GAAP Measures and Definition of Terms
Non-GAAP Measures and Definition of Terms Net Operating Income (NOI), Cash NOI and Same Store Cash NOI NOI, a non-GAAP financial measure, is defined as rental revenue, less rental expenses, on an accrual basis. Cash NOI is calculated to exclude the impact of GAAP adjustments to rental revenue and re
Slide 35: Non-GAAP Measures and Definition of Terms
Non-GAAP Measures and Definition of Terms Net Operating Income (NOI), Cash NOI and Same Store Cash NOI (Cont’d) Three Months Ended March 31, December 31, March 31, 2025 2024 2024 Rental revenue $ 48,256 $ 46,545 $ 50,639 Rental expenses (6,326) (5,912) (5,554) Net operating income 41,930 40,633 45,0
Slide 36: Non-GAAP Measures and Definition of Terms
Non-GAAP Measures and Definition of Terms Remaining Lease Term The number of periods remaining in each tenant’s lease, calculated on a weighted average basis using annualized base rent. Rent Escalation The amount of base rent increases that are included within each tenant’s lease, calculated on a we
Slide 37: Contact Information
Contact Information Corporate Address Miles Callahan 1001 Water Street Senior Vice President, Suite 800 Capital Markets & Investor Relations Tampa, FL 33602 IR@silarealtytrust.com www.SilaRealtyTrust.com