Creative Media · NASDAQ:CMCT
Creative Media — CIM Commercial Trust — Investor Presentation (December 2015)
19 slides from Creative Media's investor presentation, Dec 4, 2015
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 21 Office properties, 5.6 million rentable square feet accounted for 82% of TTM cash NOI1
Slide 3: Key Events in CMCT's History
KEY EVENTS IN CMCT’s HISTORY 2005 CIM Group formed CIM Urban 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 o
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 Acquisition Sourcing Capabilities Coastal Urban Class A and Creative Office Portfolio Same Store Growth Opportunity Conservative Capital
Slide 5: Coastal Urban Class A and Creative Office Portfolio
Coastal Urban Class A and Creative Office Portfolio 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/liabilities 1 Bas
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: Summary
summary NAV/Share Focus +Urban Office + Expertise of Large-Scale Platform + Ability to Move Growth Needle Resources & Expertise of Premier Institutional Manager Acquisition Sourcing Capabilities Coastal Urban Class A and Creative Office Portfolio Same Store Growth Opportunity Conservative Capital St
Slide 11: Summary
SUMMARY C M C T * Invested in high-barrier-to-eniry sub-markets where CIM Group anticipates outsized rent growth = San Francisco Bay Area, Washington D.C. and Los Angeles accounted for 82% of TIM. office cash NOI" = Lease-up (office 87.3% leased and 84.7% occupied)! = Below market leases rolling to
Slide 12: CMCT Real Estate Portfolio
CMct Real Estate Portfolio 13 As of 9/30/2015 Property Market Office Square Footage Multi-family Units Hotel Rooms 1 Kaiser Plaza Oakland, CA 531,477 2101 Webster Street Oakland, CA 474,800 1901 Harrison Street Oakland, CA 272,161 1333 Broadway Oakland, CA 239,835 2100 Franklin Street Oakland, CA 21
Slide 13: CIM Qualified Community Methodology
CIM QUALIFIED COMMUNITY METHODOLOGY 14 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 14: CIM Qualified Communities
CIM QUALIFIED COMMUNITIES 15 CMCT Properties Areas with CIM Group Investment(s) Areas Approved for Investment CIM Headquarters CIM Group Corporate Offices
Slide 15: Consolidated Statements of Operations and Funds from Operations
CONSOLIDATED STATEMENTS OF OPERATIONS and funds from operations 16 Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (in thousands, except per share amounts) (Unaudited) REVENUES: Rental and other property income $ 62,623 $ 59,305 $ 189,192 $ 179,931 Expense reimbu
Slide 16: Consolidated Balance Sheets
CONSOLIDATED BALANCE SHEETS 17 September 30, 2015 December 31, 2014 ASSETS Investments in real estate, net $ 1,702,110 $ 1,715,937 Cash and cash equivalents 32,742 17,615 Restricted cash 6,492 8,861 Accounts receivable, net 12,871 10,754 Deferred rent receivable and charges, net 102,010 97,630 Other
Slide 17: Management Agreement
MANAGEMENT AGREEMENT Investment Management Agreement – Tiered Asset Management Fee 3Q’15 Example (in millions): 3Q’15 RE Assets exclude the Mortgage Platform (Book Value of $161 million) Master Services Agreement Base Service Fee: $0.3 million quarterly1 for management and administration services Al
Slide 18: Important Disclosures: Assets and Equity Under Management
Important Disclosures Assets and Equity Under Management • Assets Under Management (“AUM”), or Gross AUM, represents the (i) 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 advised accounts (eac
Slide 19: Important Disclosures
IMPORTANT DISCLOSURES, C MCT ‘Assets ond Equity Under Menagement +_Asols Under Management (“AUN of Gross AUM.represens he () eparegae oll gros aes (CAV) of value. ncusing he shares of uch aol owned by jon venkte paren and.co- invasimenl of alt Ciadeedccounts each an “Accaunt” ond colecivey he “Accou
CIM Commercial Trust — Investor Presentation (December 2015) on 6ix