Sunrise Realty Trust, Inc. · NASDAQ:SUNS
Sunrise Realty Trust — Q2 2024 Earnings Presentation
28 slides from Sunrise Realty Trust's earnings presentation, Aug 14, 2024
Slide 1: Powered by Knowledge and Experience
SUNRISE REALTY TRUST | INVESTOR PRESENTATION Powered by Knowledge and Experience Financial Solutions for Commercial Real Estate Investor Presentation NASDAQ: SUNS Q3 2024
Slide 2: Forward-Looking Statements
SUNRISE REALTY TRUST | INVESTOR PRESENTATION DISCLAIMER Forward-Looking Statements Some of the statements contained in this presentation constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and we intend such statements to be covered by t
Slide 3: Legal Disclaimers
SUNRISE REALTY TRUST | INVESTOR PRESENTATION DISCLAIMER Legal Disclaimers Important Notices This presentation is by Sunrise Realty Trust, Inc. (“SUNS” or the “Company”), a publicly-traded company that intends to elect REIT status for federal income tax purposes commencing with the taxable year ended
Slide 4: Table of Contents
Company Overview 5 Investment Highlights 6 Table of Management Team 7 Contents Market Opportunity 8 -1 0 Investment Process 1 1 -1 3 Book Value 14 Portfolio 15 Takeaways 16 Financial Statements 1 8 -2 0 Closed Deals 2 1 -27 4
Slide 5: Introducing Sunrise Realty Trust
SUNRISE REALTY TRUST | INVESTOR PRESENTATION COMPANY OVERVIEW Introducing Sunrise Realty Trust Company Highlights(1) Sunrise Realty Trust (NASDAQ: SUNS) is an institutional lender that originates and funds loans to sponsors of commercial real estate projects in the Southern United States ~$150MM ~
Slide 6: Investment Highlights
SUNRISE REALTY TRUST | INVESTOR PRESENTATION INVESTMENT HIGHLIGHTS Investment Highlights Ideal Vintage ~$29.8 billion of CRE deals sourced by SUNS Manager and its affiliates since October 2023, only pursuing ~2.0% of deals sourced with no legacy assets in the portfolio First investments closed i
Slide 7: Management Team with Demonstrated Track-Record
SUNRISE REALTY TRUST | INVESTOR PRESENTATION MANAGEMENT TEAM Management Team with Demonstrated Track-Record Leonard Brian Brandon Robyn Gabriel James Tannenbaum Sedrish Hetzel Tannenbaum Katz Velgot Executive Chief Executive Chief Financial Chief Legal Chief Marketing President Chairman Officer, Dir
Slide 8: Right Time, Right Place
SUNRISE REALTY TRUST | INVESTOR PRESENTATION MARKET OPPORTUNITY Right Time, Right Place Sunrise Realty Trust is pursuing an immediately actionable opportunity with a targeted geographical focus Why CRE Debt Today Why the Southern U.S. High Rates & Inflation Population & Employment Migration The dual
Slide 9: Changes in Capital Stacks Present an Opportunity
SUNRISE REALTY TRUST | INVESTOR PRESENTATION MARKET OPPORTUNITY Changes in Capital Stacks Present an Opportunity(1) Due to the elevated rates and regional banks pulling back from the market, pricing for the types of deals that SUNS intends to focus on has gone up, while the attachment and detachment
Slide 10: Demographic Shifts Favor The Southern U.S.
SUNRISE REALTY TRUST | INVESTOR PRESENTATION MARKET OPPORTUNITY Demographic Shifts Favor The Southern U.S. COVID has had a material impact on U.S. migration patterns, with the Southern U.S. benefiting from increased population and employment growth, which in select key Southern cities is outpacing t
Slide 11: Evolution of a SUNS Investment
SUNRISE REALTY TRUST | INVESTOR PRESENTATION INVESTMENT PROCESS Evolution of a SUNS Investment Continuous communication across the company from deal sourcing through portfolio management Sourcing & Loan Selection Structuring Portfolio Origination & Underwriting & Closing Management Maintains a dir
Slide 12: Highly-Selective Investment Process
SUNRISE REALTY TRUST | INVESTOR PRESENTATION INVESTMENT PROCESS Highly-Selective Investment Process(1) Sunrise Realty Trust takes a patient approach to investing, targeting opportunities with clear potential for value creation that meet a defined set of investment criteria Market Supply constrained
Slide 13: Robust Direct Origination Platform
SUNRISE REALTY TRUST | INVESTOR PRESENTATION INVESTMENT PROCESS Robust Direct Origination Platform SUNS continues to maintain a direct origination platform, produce a large universe of opportunities through multiple channels, then select the most attractive investments for comprehensive due diligenc
Slide 14: Q3 2024 Book Value
SUNRISE REALTY TRUST | INVESTOR PRESENTATION BOOK VALUE Q3 2024 Book Value Book Value(1) In $/share $0.27 $16.64 $16.19 ($0.63) ($0.09) Book Value QTD 2024 YTD 2024 YTD 2024 CECL Book Value (2) July 9, 2024 Distributable Dividend (4) and Stock September 30, 2024 Earnings(3) Compensation The Septembe
Slide 15: Sunrise Realty Trust Portfolio Overview
SUNRISE REALTY TRUST | INVESTOR PRESENTATION PORTFOLIO OVERVIEW Sunrise Realty Trust Portfolio Overview Current Principal Cash Original As % of Total Fixed/ (1) Loan Type Location Loan Maturity Commitment Balance Interest YTM Funding Date Total OID Floating as of 11/1/2024 as of 11/1/24 Rate Senior
Slide 16: Strategy Meets Opportunity – Key Approaches
SUNRISE REALTY TRUST | INVESTOR PRESENTATION TAKEAWAYS Strategy Meets Opportunity – Key Approaches The Right Leadership Sunrise Realty Trust is positioned to The Right Market Opportunity take advantage of converging trends The Right Strategy favoring CRE in the Southern U.S. Opportunity Strategy Abi
Slide 17: Appendix
S"@ SUNRISE REALTY TRUST A TCG Company Appendix 17
Slide 18: Balance Sheet
SUNRISE REALTY TRUST | INVESTOR PRESENTATION QUARTERLY RESULTS Balance Sheet As of September 30, December 31, 2024 2023 (unaudited) Assets Loans held for investment at carrying value, net $ 96,405,746 $ — Cash and cash equivalents 70,171,119 31,244,622 Interest receivable 1,007,320 — Prepaid expense
Slide 19: Income Statement
SUNRISE REALTY TRUST | INVESTOR PRESENTATION QUARTERLY RESULTS Income Statement (unaudited) Period from Period from Three months August 28, Nine months August 28, ended 2023 to ended 2023 to September 30, September 30, September 30, September 30, 2024 2023 2024 2023 Revenue Interest income $ 3,220,9
Slide 20: Reconciliation of GAAP Net Income to Distributable Earnings
SUNRISE REALTY TRUST | INVESTOR PRESENTATION QUARTERLY RESULTS Reconciliation of GAAP Net Income to Distributable Earnings Period from Period from Three months August 28, 2023 Nine months August 28, 2023 ended to September ended to September September 30, 30, September 30, 30, 2024 2023 2024 2023 Ne
Slide 21: Deal #1: Mixed-Use Senior Mortgage Loan in Texas
SUNRISE REALTY TRUST | INVESTOR PRESENTATION CLOSED DEALS CLOSED Deal #1: Mixed-Use Senior Mortgage Loan in Texas Jan. 4, 2024 HIGHLIGHTS LOCATION Houston, TX PROPERTY TYPE Mixed Use INVESTMENT TYPE Loan Purchase Senior & Subordinate INVESTMENT STRUCTURE Debt TOTAL SENIOR LOAN SIZE / HOLD $14.5MM /
Slide 22: Deal #2: Residential Subordinate Loan in Florida
SUNRISE REALTY TRUST | INVESTOR PRESENTATION CLOSED DEALS CLOSED Deal #2: Residential Subordinate Loan in Florida Jan. 31, 2024 HIGHLIGHTS LOCATION Sarasota, FL Residential with PROPERTY TYPE Ground Floor Retail INVESTMENT TYPE Refinance INVESTMENT STRUCTURE Subordinate Loan TOTAL SUBORDINATE LOAN S
Slide 23: Deal #3: Residential Senior Mortgage Loan in Texas
SUNRISE REALTY TRUST | INVESTOR PRESENTATION CLOSED DEALS CLOSED Deal #3: Residential Senior Mortgage Loan in Texas Jul. 3, 2024 HIGHLIGHTS LOCATION Austin, TX PROPERTY TYPE Residential INVESTMENT TYPE Refinance INVESTMENT STRUCTURE Senior Debt SENIOR LOAN/HOLD SIZE(1) $35MM / $14MM CASH INTEREST RA
Slide 24: Deal #4: Hospitality Senior Mortgage Loan in Texas
SUNRISE REALTY TRUST | INVESTOR PRESENTATION CLOSED DEALS CLOSED Deal #4: Hospitality Senior Mortgage Loan in Texas Jul. 31, 2024 HIGHLIGHTS LOCATION San Antonio, TX PROPERTY TYPE Hospitality INVESTMENT TYPE Refinance INVESTMENT STRUCTURE Senior Debt SENIOR LOAN SIZE(1) $42MM / $27MM CASH INTEREST R
Slide 25: Deal #5A: Residential Senior Mortgage Loan in Florida
SUNRISE REALTY TRUST | INVESTOR PRESENTATION CLOSED DEALS CLOSED Deal #5A: Residential Senior Mortgage Loan in Florida Aug. 5, 2024 TERM LOAN HIGHLIGHTS LOCATION Palm Beach Gardens, FL PROPERTY TYPE Residential INVESTMENT TYPE Refinance INVESTMENT STRUCTURE Senior Debt TOTAL TERM LOAN SIZE(1) $85MM
Slide 26: Deal #5B: Residential Senior Mortgage Loan in Florida
SUNRISE REALTY TRUST | INVESTOR PRESENTATION CLOSED DEALS CLOSED Deal #5B: Residential Senior Mortgage Loan in Florida Aug. 5, 2024 REVOLVER HIGHLIGHTS LOCATION Palm Beach Gardens, FL PROPERTY TYPE Residential INVESTMENT TYPE Construction INVESTMENT STRUCTURE Senior Debt REVOLVER SIZE(1) $75MM REVOL
Slide 27: Deal #6: Residential Senior Mortgage Loan in Florida
SUNRISE REALTY TRUST | INVESTOR PRESENTATION CLOSED DEALS CLOSED Deal #6: Residential Senior Mortgage Loan in Florida Nov. 1, 2024 HIGHLIGHTS LOCATION Ft. Lauderdale, FL PROPERTY TYPE Residential INVESTMENT TYPE Construction INVESTMENT STRUCTURE Senior Debt SENIOR LOAN/ GROSS HOLD $96MM / $30MM SIZE
Slide 28: Contact Us
Contact Us ir@sunriserealtytrust.com www.sunriserealtytrust.com