American Strategic Investment Co. · NYSE:NYC
American Strategic Investment — American Realty Capital New York City REIT — Q1 2017 Earnings Presentation
18 slides from American Strategic Investment's earnings presentation, 2017
Slide 1: 1st Quarter 2017 Webinar Series
1st Quarter 2017 Webinar Series
Slide 2: First Quarter 2017 Investor Presentation
Platform Advisor To Investment Programs First Quarter 2017 Investor Presentation
Slide 3: Important Information
Important Information Risk Factors For a discussion of the risks which should be considered in connection with our company, see the section entitled “Item 1A. Risk Factors” in American Realty Capital New York City REIT, Inc.’s (the “Company”) Annual Report on Form 10-K filed with the U.S. Securities
Slide 4: Investment Thesis
Investment Thesis Focused on acquiring New York City commercial real estate 3 Primary objectives*: A Public Non-Traded Real Estate Investment Trust* - Preserve and protect capital - Pay monthly stable cash distributions; and - Increase the value of assets in order to generate capital appreciatio
Slide 5: New York City Market Trends
New York City Market Trends (3) NYC Employment Trends (1) NYC Population at Record High 4,500 Jobs in 000's 9.50 Millions 4,250 4,387 4,389 9.00 4,272 8.50 8.82 4,000 4,108 8.55 8.00 8.24 3,984 8.01 3,885 7.50 3,750 3,795 3,797 3,745 3,709 7.00 7.32 3,666 3,691 7.07 3,500 6.50 6.00 3,250 5.50 3,000
Slide 6: Q1 2017 Highlights
Q1 2017 Highlights Occupancy was down slightly from 89.8% in Q4 2016 to 86.7% in Q1 2017 Cash NOI was down $600k primarily due to a step up in ground rent expense at (1) 1140 Avenue of the Americas Leverage remains low at ~31% debt / cost (2) The $96 million mortgage debt at 123 William was
Slide 7: Portfolio Snapshot
Portfolio Snapshot 6 properties consisting of 1,091,571 square feet 86.7% occupancy as of 3/31/2017 Weighted average remaining lease term of 6.1 years ($ amounts in thousands) Remaining Acquisition Number of Rentable Occupancy Portfolio Lease Term Debt Date Properties Square Feet (as of 3/31/1
Slide 8: Balance Sheet Summary
Balance Sheet Summary Strong balance sheet Low leverage (~31% debt/cost ratio) $ amounts in 000’s (3) Q4 2016 Q1 2017 Total Real Estate Investments (at Cost) $744,945 $746,512 ~$49mm of cash Cash (1) 47,671 49,550 Other Assets (2) (19,012) 3,374 ~$25mm of restricted cash Total Assets $773,604 $7
Slide 9: Key Initiatives
Key Initiatives Finish deployment of capital • Debt/cost ratio remains low at ~32% providing room for additional leverage and portfolio growth (1) • Management may complete $100 to $300 million of additional acquisitions using existing cash and additional leverage • Target leverage for pro forma p
Slide 10: 9 Times Square
9 Times Square Valuable retail and signage located one block south of the Times Square bowtie. The property’s location gives it a strong competitive advantage due to NYCR’s successful redevelopment of the retail to relocate the lobby from Seventh Avenue to 41st Street, increasing the valuable Sevent
Slide 11: 123 William Street
123 William Street 27-story, 542,676 square foot property, 93% occupied as of 3/31/17. The property was 82% occupied at the time of acquisition in March 2015 and NYCR has been very successful on its leasing efforts, having signed over 100k sf of new leases since acquisition. As of 3/31/17 the proper
Slide 12: Organizational Structure
Organizational Structure Board of Directors Michael Weil Lee Elman Elizabeth Tuppeny Abby Wenzel Independent Director Executive Chairman Independent Director Independent Director & Audit Chair Management Team Michael Weil Nicholas Radesca Jason Slear Michael Ead CEO & President CFO and Treasurer Hea
Slide 13: Consistent Distributions
Consistent Distributions Since Inception, American Realty Capital New York City REIT, Inc. has paid out $4.23 per share of regular distributions in cash and DRIP. $4.23 per share (cumulative) (1) $4.50 $4.00 $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $- (1) Totals as of each period presented represen
Slide 14: Cash NOI Reconciliation
Cash NOI Reconciliation Below is a reconciliation from net loss, the most directly comparable GAAP financial measure, to Cash NOI. Three Months Ended (In thousands) December 31, 2016 March 31, 2017 Net loss (in accordance with GAAP) $ (5,590) $ (4,786) Acquisition and transaction-related (632) 6 D
Slide 15: Cash NOI Reconciliation (cont.)
Cash NOI Reconciliation (cont.) Cash net operating income ("Cash NOI") is a non-GAAP financial measure equal to net income (loss), the most directly comparable GAAP financial measure, less income from investment securities and interest, plus general and administrative expenses, acquisition and tra
Slide 16: Risk Factors
Risk Factors There are risks associated with an investment in our Company. The following is a summary of some of these risks. For a discussion of the risks which should be considered in connection with our Company, see the section entitled “Item 1A. Risk Factors” in the Company’s Annual Report on Fo
Slide 17: Risk Factors (continued)
Risk Factors (continued) Because investment opportunities that are suitable for us may also be suitable for other AR Global-advised programs or investors, our Advisor and its affiliates may face conflicts of interest relating to the purchase of properties and other investments and such conflicts m
Slide 18: For account information, Financial Advisors may view Shareholders may access
For account information, including balances and the status of submitted paperwork, please call us at (866) 902-0063 Financial Advisors may view client accounts, statements and tax forms at www.dstvision.com Shareholders may access their accounts at www.NewYorkCityREIT.com www.ar-global.com
American Realty Capital New York City REIT — Q1 2017 Earnings Presentation on 6ix