Inventrust Properties Corp. · NYSE:IVT
Inventrust Properties — Inland American Real Estate Trust — Shareholder Meeting (June 2009)
33 slides from Inventrust Properties's shareholder meeting presentation, Jun 2, 2009
Slide 1: Inland American Real Estate Trust Annual Stockholders Meeting June 2009
Inland American Real Estate Trust, Inc. Annual Stockholders Meeting June 2009
Slide 2: Forward-Looking Statements
ijnnnnnnnnnnnForwardLookngStatementsThispresentationmaycontainforward-lookingstatements.Forward-lookingstatementsarestatementsthatarenothistorical, includingstatementsregardingmanagement'sintentions,beliefs,expectations,representations,plansorpredictionsofthefuture,andaretypicallyidentifiedbysuchwor
Slide 3: Table of Contents
Table of Contents Agenda 2. 3. 4. 5. Financial Highlights 1. List of Directors and Executive Officers Company Overview and Strategy Property Management
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Slide 5: [LOGO]
[LOGO]
Slide 6: Directors and Executive Officers
Directors and Executive Officers Robert D. Parks, Chairman and Director J. Michael Borden, Independent Director Thomas F. Glavin, Independent Director David Mahon, Independent Director Thomas F. Meagher, Independent Director Paula Saban, Independent Director William J. Wierzbicki, Independent Direct
Slide 7: [LOGO]
[LOGO]
Slide 8: Company Overview and Strategy
Company Overview and Strategy
Slide 9: Overview
Overview • Owns a diversified portfolio of core commercial real estate including: • Retail • Lodging • Office • Multi-Family/Student Housing • Industrial • As of 12/31/2008 owned directly or indirectly through joint ventures 904 properties • 37 million square feet • 6,346 multi-family units • 15,125
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Slide 11: Diversified Strategy Balances Risk Exposure
Diversified Strategy Balances Risk Exposure As of 12/31/2008 Investment Allocation - $11.1B* Core Assets - 74% Retail - 35% Lodging - 31% Office - 17% Industrial - 11% Multi-Family - 6% Total Assets $11.1B Notes Receivable - 4% Joint Ventures -7% Marketable Securities -2% Development -3% Cash & Othe
Slide 12: Major Challenges
Major Challenges • Global credit crisis impacts • Liquidity • Ability to refinance maturing debt • Limited ability to purchase new assets • Joint Ventures • Leasing • Certain joint venture development projects • Lending/Borrowing • Lodging occupancy and revenue 11
Slide 13: Our Strategy to Mitigate These Challenges
Our Strategy to Mitigate These Challenges • Focus on smaller regional banks, Fannie Mae & Freddie Mac and larger lenders to access debt to fund existing obligations • We have the ability to manage existing joint venture development projects that may be experiencing challenges • Our specialized lodgi
Slide 14: Conservative Balance Sheet Management
Conservative Balance Sheet Management • Manageable debt maturities & unencumbered assets • Low leveraged buyer • Loan to value at 12/31/2008 = 40% • Loan to value at 3/31/2009 = 43% • Individual property debt – not corporate 13
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Slide 16: DAVID Papkep bat ki
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Slide 17: Property Management
Property Management
Slide 18: Current Portfolio – States – Properties
Current Portfolio – 35 States – 904 Properties As of 12/31/2008 Multi-Family Industrial Office Lodging Retail 17 Properties 64 Properties 36 Properties 99 Properties 688 Properties 8 States 17 States 15 States 23 States + Dist. of Col. 30 States + Dist. of Col. 6,346 Units 15.4M Square Feet 8.4M Squ
Slide 19: Current Inland American Offices
Current Inland American Offices* Multi-Family Industrial Office Lodging Retail National Headquarters National Headquarters National Headquarters National Headquarters National Headquarters 16 Satellite Offices 3 Satellite Offices 3 Satellite Offices 7 Satellite Offices OO a ee LL S VT CT NJ NH Mass.
Slide 20: Strong Presence in Solid Texas Market
Strong Presence in Solid Texas Market • Over 7 million square feet of core assets in Texas, which was the strongest economy in the U.S. as of February 2009 • In fiscal 2008, Gross State Product grew 4.2%, vs. 1.9% nationally • In the 12 months ending December 2008, Texas gained over 153,700 jobs. To
Slide 21: Economic Occupancy
Economic Occupancy* As of 12/31/2008 96% *Excluding Lodging 20
Slide 22: Retail Comprises 35% of Core Portfolio
Retail Comprises 35% of Core Portfolio • 95% economic occupancy as of 12/31/2008 nn The Highlands 57% necessity based – serves consumers weekly needs* High concentration in solid Texas market Flower Mound, TX Tomball Town Center Tomball, TX *Figure excludes bank branches 22
Slide 23: Lodging Comprises 31% of Core Portfolio
Lodging Comprises 31% of Core Portfolio • 69% occupancy compared to industry average of 60.4%* as of 12/31/2008 • 48% Marriott, 40% Hilton Includes such brands as Courtyard by Marriott, Residence Inn & Hilton Garden Inn • Strong portfolio located in targeted urban markets: Washington, D.C., Atlanta,
Slide 24: Office Comprises 17% of Core Portfolio
nmulti-tenant buildings n n24 Office Comprises 17% of Core Portfolio Strategic mix of single and 70% single-tenant of which 81% are investment grade rated 97% economic occupancy as of 12/31/2008 Worldgate Plaza Herndon, VA AT&T St. Louis, MO
Slide 25: Multi-Family/Student Housing Comprises 6% of Core Portfolio
nnnear major universities nnUniversity of Alabama/Birmingham n25 / Multi-Family/Student Housing Comprises 6% of Core Portfolio Multi-family concentration in Texas Student housing concentration University of Pennsylvania 92% economic occupancy as of 12/31/2008 The Landings at Clear Lake Webster, TX U
Slide 26: Industrial Comprises 11% of Core Portfolio
Industrial Comprises 11% of Core Portfolio • 99% economic occupancy as of 12/31/2008 • 42% of our industrial segment serves the needs of essential goods and services companies (food, drug, etc.) • Largest concentration in Memphis within blocks of FedEx’s “Super Hub” Memphis, TN Atlas Cold Storage Br
Slide 27: [LOGO]
[LOGO]
Slide 28: Financial Highlights
Financial Highlights
Slide 29: Financial Highlights
Financial Highlights Consolidated Financial Highlights Year Ended Three Months Ended 12/31/2008 3/31/2009 Total Consolidated Assets $11.1B $11.3B Stockholder's Equity $6.1B $5.8B Distributions Declared $419M $99M Debt Payable $4.4B $4.9B Ratio of Total Debt to Total Assets 40% 43% Weighted Average I
Slide 30: Schedule of Fees and Expenses Paid to Affiliates of Our Sponsor
Schedule of F ees and Expenses P aid ( o r accrued) T o Affilia tes of Our S p onsor (1) Amount Comments Business Management Fee $18,500,000 Up to 1% of Average Invested Assets Offering Costs $232,090,000 Total of $800,019,000 is Equal to 10.1% of Gross Proceeds (15% Allowed) Investment Advisor Fee
Slide 31: Who You Invest With Is Everything
WHO YOU INVEST WITH IS EVERYTHING® 31
Slide 32: Corporate Office and Board of Directors
) ijllPiliThecompaniesdepictedinthephotographshereinmayhaveproprietaryinterestsintheirtradenamesandtrademarksandnothinghereinshalbeconsideredtobeanendorsement,authorizationorapprovalofInlandAmericanRealEstateTrust,Inc.(“InlandAmerican”bythecompanies. Further,noneofthesecompaniesareaffiliatedwithInla
Slide 33: Inland American Real Estate Trust contact details
2901 Butterfield Road Oak Brook, IL 60523 800.826.8228 www.inlandamerican.com Inland American Real Estate Trust, Inc. supports sustainable practices
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