Inventrust Properties Corp. · NYSE:IVT
Inventrust Properties — Investor Presentation (May 2017)
20 slides from Inventrust Properties's investor presentation, May 22, 2017
Slide 1: Investor Presentation May 2017
simple. focused. disciplined. Investor Presentation May 2017 Exhibit 99.1
Slide 2: Forward Looking Statements
Forward Looking Statements Forward-Looking Statements in this presentation, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical, including statemen
Slide 3: InvenTrust - A Unique Retail Platform
InvenTrust - A Unique Retail Platform Focused Portfolio With a Sun Belt Concentration Focus in ~15 Core Markets Superior Wage & Population Growth Premier Necessity-Based Portfolio with 77% Grocery Anchored 1 Premier Necessity-Based Assets $3.5 Billion Retail REIT 2 $16.49 ABR PSF 3 2017 – 2020E Same
Slide 4: Journey to a Pure-Play Retail Platform
Journey to a Pure-Play Retail Platform Strategic vision to become a pure-play Retail REIT was outlined in 2013, achieved in June 2016 1 Focused diversified portfolio into retail, student housing & lodging Added three new BOD members with significant retail and/or real estate experience Internalized
Slide 5: Why InvenTrust?
Why InvenTrust? Premium Assets Within Select Sun Belt Markets Strong Management Team Able to Execute on Focused Strategic Vision Superior Asset Quality: $16.49 ABR PSF 2 Necessity-Based Portfolio of Assets: $3.5 Billion 1 Stable Growth Profile: 2017 – 2020E Same Store NOI Growth Target of 1.25% – 3.
Slide 6: Sun Belt Focused Portfolio = InvenTrust Target Markets
Sun Belt Focused Portfolio = InvenTrust Target Markets InvenTrust’s Top 10 Markets % of 2017E NOI Houston 14.3% Dallas 12.0% Raleigh/Durham 7.6% Southern California 3 6.9% Atlanta 6.8% Austin 6.2% San Antonio 5.5% Miami/Ft Lauderdale/West Palm Beach 4.1% Charlotte 4.0% Denver 3.2% Sub-Total 70.6% 88
Slide 7: Strong Link Between Employment Growth & Retail Rents
Strong Link Between Employment Growth & Retail Rents Retail Rent Growth vs. Employment Growth – United States 1 United States ’01 – ’16 CAGR Retail Rent: 1.14% Employment: 0.85% U.S. Retail Rent Growth U.S. Employment Growth Retail Rent Growth vs. Employment Growth – InvenTrust Markets 1 IVT Markets
Slide 8: IVT Portfolio Located in High Growth Markets
IVT Portfolio Located in High Growth Markets Overall Estimated Portfolio Population and Job Growth (’17 – ’21) 1 By strategically targeting Sun Belt markets expecting significant near-term population and job growth, InvenTrust expects to have a sizable advantage to capture future demographic shifts.
Slide 9: InvenTrust's Markets Benefit from Superior Retail Sales Growth
InvenTrust’s Markets Benefit from Superior Retail Sales Growth InvenTrust Markets Other Top 50 U.S. Markets (1) Strong employment and retail sales growth is expected to drive future rent growth in InvenTrust’s core markets United States – Retail Rent Growth vs. Employment Growth 1 Atlanta 2.5% 4.8%
Slide 10: Portfolio Composition by Property Count
Portfolio Composition by Property Count 77% Grocery Anchored 1 Renaissance Center Durham, NC Westfork Plaza Pembroke Pines, FL Northcross Commons Huntersville, NC
Slide 11: Diversified & Balanced Tenant Concentration
Diversified & Balanced Tenant Concentration Top Tenant # Leases % of Total ABR ABR by Tenant 1 Tenant Credit Rating 2 28 3.9% $8.8 million A- 18 3.6% $8.2 million BBB- 21 2.7% $6.2 million B+ 10 2.5% $5.8 million BBB 11 1.9% $4.3 million N/R 7 1.8% $4.1 million B+ 13 1.7% $4.0 million BBB+ 14 1.6% $
Slide 12: Driving Future Growth Through Selective Investment Strategy
Driving Future Growth Through Selective Investment Strategy Simple, Focused & Disciplined The Right Centers in the Right Markets Significant Portfolio Transformation Completed Balance Sheet Provides Sizeable Capacity to Grow Portfolio Pursue Redevelopment Opportunities Identify Markets w/ Strong Dem
Slide 13: Completed Capital Recycling Impact & Targets
Completed Capital Recycling Impact & Targets Acquisitions completed since 2015 Dispositions completed since 2015 Properties 17 41 GLA 1 3.1 million 4.2 million Value of Transactions $984 million $640 million Occupancy 2 95% 93% ABR PSF 3 $18.90 $13.14 2017E Acquisition / Disposition Target $750 mill
Slide 14: Recent Acquisitions – Upgrading the Portfolio
Recent Acquisitions – Upgrading the Portfolio 1 Campus Marketplace Westfork Plaza / Paraiso Parc The Shops at Town Center ABR PSF - $28.02 3-mile Population – 88,400 Pembroke Pines, FL (Miami) ABR PSF - $20.90 Publix anchored 3-mile Avg. Household Income - $102,800 3-mile Population – 108,100 German
Slide 15: Flexible Balance Sheet
Flexible Balance Sheet Best-in-Class Balance Sheet Supports Future Growth Balance Sheet Metrics 1 Available Unsecured Debt $300 million Unencumbered Assets 2 70% Net Debt to EBITDA 3 4.3x Fixed Charge Coverage 3 4.2x WAVG Debt Maturity 3.74 years Capital Structure
Slide 16: Experienced Management & Board
Experienced Management & Board Executive Management Team Board of Directors 2015 Self-Management J. Michael Borden (2004) Chairman since 2015 / 25 years of commercial real estate experience Tom McGuinness (2015) President & CEO since 2014 Paula J. Saban ( 2004 ) 25 years of banking & financial servi
Slide 17: Why InvenTrust?
Why InvenTrust? Premium Assets Within Select Sun Belt Markets Strong Management Team Able to Execute on Focused Strategic Vision Superior Asset Quality: $16.49 ABR PSF 2 Necessity-Based Portfolio of Assets: $3.5 Billion 1 Stable Growth Profile: 2017 – 2020E Same Store NOI Growth Target of 1.25% – 3.
Slide 18: Appendix
Appendix
Slide 19: Shareholder-Friendly Corporate Governance
Shareholder-Friendly Corporate Governance Majority of Board Independent under NYSE Standards Formed Compensation & Nominating Committee under SEC and NYSE Standards Established Market-Based Executive and Director Compensation Program Amended Code of Ethics and Business Conduct Held First “Say on Pay
Slide 20: Footnotes
Footnotes Page 2 Walmart, Target, and warehouse clubs are considered grocers, regardless of whether the box is owned by the REIT or shadow anchored. Grocer exposure is based on property count. Includes (a) wholly owned retail properties, (b) 100% of properties owned by IAGM Retail Fund I, LLC (“IAGM
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