One Liberty Properties, Inc. · NYSE:OLP
One Liberty Properties — Investor Presentation (January 2014)
29 slides from One Liberty Properties's investor presentation, Jan 6, 2014
Slide 1: One Liberty Properties, Inc.
ONE LIBERTY PROPERTIES, INC. One Liberty Properties January 2014 onelibertyproperties.com
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain information contained in this presentation, together with other statements and information publicly disseminated by One Liberty Properties, Inc. (the “Company”), constitute forward looking statements within the meaning of Section 27A of Securities Act of 1933, as amende
Slide 3: One Liberty Highlights
One Liberty Highlights > ¢ High quality portfolio primarily of net leased properties with stable occupancy and diversified tenants Disciplined acquisition and disposition track record through economic cycles Deep management team with extensive real estate and finance experience Insider ownership in
Slide 4: Financial & Portfolio Summary
Financial & Portfolio Summary Number of Properties 1: Current Occupancy (12/31/13): Current Market Cap: Total Enterprise Value «): Shares Outstanding: Dividend Yield (a): (1) etuos tv pperis oars by urns vores 109 99% + $316 million $608 million 15.7 million 7.35% {@) Eryn valoe ears fe sum of OUP m
Slide 5: Experienced Management Team
Experienced Management Team Patrick J. Callan, Jr. President & CEO Chief Executive Officer since 2008, President since 2006, Director since 2002 Senior Vice President of First Washington Realty Inc. from 2004 to 2005. A joint venture with CalPERS that controlled 100 shopping centers (13 million squa
Slide 6: Properties By Sector
Properties By Sector Amount of 2014 Percentage of 2014. Number of Contractual Rental of Properties Income Retail 84 $31,381,156 Industrial 13 $9,863,982 Flex 3 $3,706,785 Office 2 $3,423,441 Health & Fitness 5 $2,961,524 Other 2 $3,243,088 109 $54,579,976 Recent Acquisitions FedEx Express — Indianap
Slide 7: Diversified Geographic Footprint
Diversified Geographic Footprint 109 properties in 29 states (6.6 million square feet) eta © ottce © ods 4 ex fe Heath © omer ‘South Carolina 1,046,528 Wisconsin 991,604 Texas 532,784 Georgia 13 473.948 72% New York 9 445,879 6.8% Pennsyvania a 383.404, 5.8% “0 3,874,147 58.8%
Slide 8: Diversified Tenant Base
Diversified Tenant Base Top Tenants Haverty Furniture Companies, Inc. (NYSE: HVT) Office Depot, Inc. (NYSE: ODP) LA Fitness International, LLC Northern Tool & Equipment Ferguson Enterprises, inc. DSM Nutritional Products, Inc. 34,568,723. $3,623,175 $2,880,338 $2,657,291 $2,466,630 $2,248,281 $10,44
Slide 9: Well-Balanced Lease Expirations
Well-Balanced Lease Expirations 2014 (1) 12 $3,674,117 6.7% 677,233 2015 9 $2,014,202 37% 206,006 2016 14 $3,156,165 5.8% 358,042 2017 9 $1,855,732 34% 109.450, 2018 18 $5,693,155 10.4% 397,266 2019 6 $1,515,874 2.8% 196,502 2020 7 $4,166,312 7.6% 181,674 2021 7 $1,725,373 3.2% 231,520 2022 9 $9,293
Slide 10: Solid Revenue Growth and Acquisition Track Record
Solid Revenue Growth and Acquisition Track Record © Acquired $107.5 million properties in 2013 © Current pipeline of diverse opportunities in excess of $250 million * Transactions sourced through relationships, developers, partners and brokers 10 Total Revenue (1) (S$ inmillions) Acquisiti Per Year
Slide 11: 2013 Acquisitions
2013 Acquisitions 3222019 Retail Kmart Clemmons NC 48072018 $4,640,000 11.2%) Al Cash Tia03 Flex Shutterly For Mil SC_—— 618012023 $15,500,000 7.2% $9,800,000 morgage 7/1/2023 4.562% 719072013 Restaurant Texas Land &Catle Killeen TX 7131/2025 $2,020,000 9.7% Al Cash 11/2013 Restaurant Hooters Goncor
Slide 12: Acquisition Case Study — Flex
Acquis © Acquired a production & distribution facility in Fort Mill, SC in July 2013 net leased to Shutterfly, Inc. (NASDAQ: SLFY) e 14 miles southwest of downtown Charlotte © Adjacent to Interstate aturing daily traffic counts over 92,000 daily * Building is 303,188 square feet on 39.74 acres of la
Slide 13: Acquisition Case Study — Retail (Kmart)
© A90% OLP controlled joint venture acquired a Kmart retail store in Clemmons, NC in March 2013 net leased to Kmart Corporation (S&P Rated CCC+) © Located at a major intersection off Interstate 40, 9 miles west of Winston- Salem e Redevelopment potential © Building is 96,725 square feet on 10.27 acr
Slide 14: Acquisition Case Study — Industrial
Acquisition Case Study — Industrial ¢ Acquired a distribution facility in Fort Mill, SC in September 2013 net leased to Northern Tool & Equipment (S&P rated B+) * 18 miles south of downtown Charlotte © The class A building features 30’ clear heights throughout, 92 dock doors, 2 bay doors, and 2 driv
Slide 15: Strong Balance Sheet
Strong Balance Sheet a Gross Assets(1): $639.7 million Total Debt/Gross Assetsi2): 48.3% Fixed Rate Debt: 92.4% Debt Service Coverage Ratio, 2.27 Fixed Charge Coverage Ratios) 1.84 FFO Payout: 88.75% Return on Equity): 7.90% Return on Invested Capitals): 6.67% * Liquidity available to acquire in exc
Slide 16: Laddered Debt Maturities
Laddered Debt Maturities a ° Weighted average interest rate of 5.2% on fixed rate debt © There is approximately $8.1 million ($0.52 per share) of scheduled amortization of mortgages for the 12 months ending December 31, 2014 Balloon Payments Due For the Twelve $80 Months Ending December 31 $648 ($ i
Slide 17: Stable Operations and Well Covered Dividend
Stable Operations and Well Covered Dividend a Historical FFO Per Share (1) 5170 Historical AFFO Per Share (1) $1.85 $181 $165, $1.60 $1.60 $1.55 $1.55 $1.51 $151 $1.50 $1.50 S145 1.45, $1.40 1.40 2010 201 2012 2013 2010 2011 2012 2013 Dividend History $145 $1.40 $1.35 $1.90 $1.25 S120 $1.45 $1.10 20
Slide 18: Top Tenants Profiles
Top Tenants Profiles
Slide 19: Havertys Furniture — Tenant Profile
Havertys Furniture — Tenant Profile Tenant: Haverty Furniture Companies, Inc. (NYSE: HVT) Represents 8.4% of 2014 contractual rental income Full service home furnishings retailer founded in 1885, Public company since 1929 119 showrooms in 16 states in the Souther and Midwestern regions Havertys has
Slide 20: Representative Havertys — Cedar Park (Austin), TX
Representative Havertys — Cedar Park (Austin), TX * Building: 50,810 SF on 5.27 acres. Built in 2001. Havertys has operated at this location for more than 9 years. ‘© 3 Mile Demographics (source: tes usa, 2013) Population: 85,503 — Average HH Income: $82,293 * Location: 11091 Pecan Park Blvd, Cedar
Slide 21: Representative Havertys — Richmond, VA
Representative Havertys — Richmond, VA * Building: 38,788 SF on 2.16 acres. Built in 1979 and renovated and expanded in 2001. Havertys has operated at this location for more than 9 years. ‘© 3Mile Demographics (source: sites USA, 2013) — Population: 55,806 — Average HH Income: $98,991 + Location: 11
Slide 22: Office Depot — Tenant Profile
Office Depot — Tenant Profile Tenant: Office Depot, Inc. (NYSE: ODP) * 9 properties representing 222,395 square feet Represents 6.6% of 2014 contractual rental income. % of 2014 Contractual Rental Income Leading global provider of office products and services = Chicago, IL: 1.1% On November 5, 2013
Slide 23: Representative Office Depot — Chicago, IL
Representative Office Depot — Chicago, IL * Building: 23,939 SF on 2.62 acres. Built in 1994. Office Depot has operated at this location for more than 19 years. © 3Mile Demographics (source: sites USA, 2013) — Population: 533,545 Average HH Income: $90,264 * Location: 2928 N. Ashland Ave, Chicago, I
Slide 24: Representative Office Depot — Cary, NC
Representative Office Depot — Cary, NC * Building: 33,490 SF on 2.68 acres. Built in 1995. Office Depot has operated at this location for more than 18 years. 3 Mile Demographics (source: sites USA, 2012) — Population: 66,227 = Average HH Income: $74,987 * Location: 2011 Walnut Street, Cary, NC; 5 mi
Slide 25: Tenant: LA Fitness
Tenant: LA Fitn: Represents 5.3% of 2014 contr LA Fitness currently operates over 500 clubs in 21 stat The company w Irvine, CA properties repre is founded in 1984 and is headqu: ling 141,663 square ntal income. et % of 2014 Contractual Rental Income — Secaucus, NJ: 2.3% — Tucker, GA: 1.7% Hamilton,
Slide 26: Northern Tool — Fort Mill, SC
Northern Tool — Fort Mill, SC «Tenant: Northern Tool & Equipment * Location: 1850 Banks Road, Fort Mill, SC + Represents 4.9% of 2014 contractual rental income * Building: 701,595 square feet on 40 acres of land © Alarge United States distributor of industrial grade and * 3 Mile Demographics (sours:
Slide 27: Ferguson Enterprises — Baltimore, MD
Ferguson Enterprises — Baltimore, MD © Tenant: Ferguson Enterprises, Inc. * Location: 4501 Hollins Ferry Rd, Baltimore MD + Represents 4.5% of 2014 contractual rental income * Smiles south of downtown Baltimore © One of the largest United States distributors of plumbing ° —Biullding: 367,000 square
Slide 28: DSM Nutritional — Parsippany, NJ
DSM Nutritional — Parsippany, NJ * Tenant: DSM Nutritional Products, Inc. * Location: 45 Waterview Plaza, Parsippany, NJ © Represents 4.1% of 2014 contractual rental income * Building: 106,6850 square foot Class A office building on 10.5 acres of land. Built in 1997 © Worldwide leading supplier of v
Slide 29: GAAP Reconciliation
GAAP Reconciliation The following table provides a reconciliation of net income in accordance with GAAP to recurring EBITDA: QE 9/13 GE 6/13 QE313 QE 122 Net income $3,211,000 $7,736,000 $3,450,000 $ 4,933,000 ‘Add: depreciation of properties 3,077,000 2,797,000 2,854,000 2,725,000 ‘Add: interest ex
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