Curbline Properties Corp. · NYSE:CURB
Curbline Properties — Q1 2025 Earnings Presentation
12 slides from Curbline Properties's earnings presentation, Apr 24, 2025
Slide 1: Curbline Properties 1Q25 Earnings Conference Call
CURBLINE PROPERTIES 1Q25 EARNINGS CONFERENCE CALL APRIL 24, 2025
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT Curbline Properties Corp. considers portions of the information in this presentation to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, with respect to the Com
Slide 3: Table of Contents
CURBLINE PROPERTIES TABLE OF CONTENTS KEY TAKEAWAYS 4 RESULTS SUMMARY 5 OPERATIONS OVERVIEW 6 BALANCE SHEET 8 GUIDANCE 9 APPENDIX 10 CURBLINE PROPERTIES 1Q25 EARNINGS CONFERENCE CALL 3
Slide 4: 1Q25 Results Key Takeaways
CURBLINE PROPERTIES: 1Q25 RESULTS KEY TAKEAWAYS Curbline is a differentiated company focused exclusively on convenience properties located on the curbline in the wealthiest submarkets in the United States. The Company’s 3M SF portfolio of convenience real estate concentrated in the top suburban U.S.
Slide 5: 1Q25 Results Summary
CURBLINE PROPERTIES: 1Q25 RESULTS SUMMARY $0.10 $0.24 E ARNINGS PER SHARE OFFO PER SHARE +2.5% +20.8% $124m 1Q25 SPNOI GROW TH 1Q25 NEW CASH LE ASE SPRE AD 1Q25 INVESTMENT VOLUME +11.8% 1Q25 BLENDED CASH LEASE SPREAD Note: As of March 31, 2025. CURBLINE PROPERTIES 1Q25 EARNINGS CONFERENCE CALL 5
Slide 6: 1Q25 Operations Overview
CURBLINE PROPERTIES: 1Q25 OPERATIONS OVERVIEW Superior access, visibility, and standard unit sizes drive significant demand for convenience properties located in top suburban submarkets and attractive leasing returns • Generated 37% straight-line new leasing spreads and 18% S EL EC T NE W A ND R ENE
Slide 7: Recent Acquisition: Jacksonville Portfolio
CURBLINE PROPERTIES: RECENT ACQUISITION: JACKSONVILLE PORTFOLIO Curbline acquired a portfolio of six properties in the rapidly growing Jacksonville, FL MSA for $86M in February 2025. Each asset is positioned on highly trafficked roadways and have a diverse tenant roster with a mix of national, regio
Slide 8: Balance Sheet
CURBLINE PROPERTIES: BALANCE SHEET Balance sheet positioned to capitalize on growth opportunities and scale significantly • As of March 31, 2025, Curbline Properties had over $990M of liquidity consisting of: • $594M of cash • $400M of availability on Company’s credit facility • Funded $100M delayed
Slide 9: 2025 Guidance and Earnings Considerations
CURBLINE PROPERTIES: 2025 GUIDANCE AND EARNINGS CONSIDERATIONS Curbline is positioned to generate significant earnings and cash flow growth on a relative and absolute basis as it scales in the fragmented but liquid convenience sector 1Q25 Earnings Considerations • Results include $631K of income (Ot
Slide 10: Appendix
APPENDIX CURBLINE PROPERTIES 1Q25 EARNINGS CONFERENCE CALL 10
Slide 11: Non-GAAP Financial Measures and Other Operational Metrics - Definitions
CURBLINE PROPERTIES: NON-GAAP FINANCIAL MEASURES AND OTHER OPERATIONAL METRICS - DEFINITIONS FFO and Operating FFO Funds from Operations (“FFO”) is a supplemental non-GAAP financial measure used as a standard in the real estate industry and is a widely accepted measure of real estate investment trus
Slide 12: Reconciliations
CURBLINE PROPERTIES: RECONCILIATIONS RECONCILIATION: RECONCILIATION: NET INCOME ATTRIBUTABLE TO CURBLINE TO FFO AND OPERATING FFO NET INCOME ATTRIBUTABLE TO CURBLINE TO SAME-PROPERTY NOI PER SHARE DILUTED SAME-PROPERTY NOI Original Revised Actual Estimate Estimate 1Q25 FY 2025 FY 2025 1Q25 1Q24 Net