Creative Media · NASDAQ:CMCT
Creative Media — CIM Commercial Trust — IPO Roadshow (March 2019)
21 slides from Creative Media's IPO roadshow presentation, Mar 18, 2019
Slide 1: CIM Commercial Trust Corporation
CHT, de | NASDAQ & TASE: CMCT
Slide 2: CMCT Thesis
CMCT is the product of a merger (the “Merger”) between a subsidiary of CIM Urban REIT, LLC (“CIM REIT”), a fund operated by CIM, and PMC Commercial Trust, a publicly traded real estate investment trust, consummated in Q1 2014. Represents dividends declared on our common stock from January 1, 2014 th
Slide 3: Maximizing Returns For Shareholders: Performance Since Launch of CMCT
Maximizing Returns For Shareholders Performance Since Launch of CMCT 3 Return based on cumulative regular and special dividends since March 31, 2014, divided by initial net asset value (“NAV”), from March 31, 2014 to February 27, 2019. Please see “Net Asset Value” under “Important Information” with
Slide 4: Maximizing Returns For Shareholders: Performance Since Launch of CMCT
Maximizing Returns For Shareholders Performance Since Launch of CMCT 4 Total return includes changes in stock price or net asset value (“NAV”) per share, as applicable, and includes all dividends declared and paid with respect to the Company’s common stock from March 31, 2014 to February 27, 2019. P
Slide 5: Active and strategic portfolio management to maximize returns to shareholders
Maximizing Returns For Shareholders Active and strategic portfolio management to maximize returns to shareholders CMCT has sold – $2.0 billion of assets since going public in 2014, with additional assets actively marketed for sale1 2019 – Program to Unlock Embedded Value in Our Portfolio and Improve
Slide 6: CIM Group Overview
CIM Group Overview CIM Group Overview
Slide 7: CIM Summary
CIM Summary As of February 2019. As of December 31, 2018. See Important Information beginning on page 21. Established Established in 1994 as an integrated owner and operator of real assets Strategies Real assets (infrastructure and real estate) focused in communities qualified by CIM as well as nati
Slide 8: CIM Strategies
CIM Strategies 8 Urban Real Assets Infrastructure & Real Estate Stabilized Equity Opportunistic Equity Debt Value-add Equity CIM Commercial Trust Publicly Listed REIT NASDAQ: CMCT TASE: CMCT Predecessor formed in 2005 Net-lease Debt National Credit Real Estate Community Focused Strategies Following
Slide 9: CIM Competitive Advantages
CIM Competitive Advantages Diverse Team of In-House Professionals Commitment to Community Disciplined Approach Led by 14 principals (including the three original founders) with average CIM tenure of 14 years Vertically-integrated, real asset owner and operator with expertise across in-house research
Slide 10: Community Focused Strategy – CIM Qualified Communities
10 1. Based on growth of Class A office rents, sourced from CBRE Outlook Dashboard, as of December 31, 2018. Site accessed February 2019. Growth in CIM Qualified Communities vs. National Downtowns vs. National Suburbs CIM qualifies communities for acquisition (122 qualified as of February 2019, 72 d
Slide 11: Community Focused Strategy - CIM Qualified Communities
Community Focused Strategy - CIM Qualified Communities CMCT CIM qualifies communities for acquisition (122 qualified as of February 2019, 72 deployed capital). CIM Qualified Communities exhibit strong growth trends, which CIM believes will lead to outsized rental growth and/or capital appreciation.
Slide 12: Growth Focused Portfolio in Gateway Markets
Growth Focused Portfolio in Gateway Markets* 12 Excludes 2101 Webster Street, 1901 Harrison Street, 2100 Franklin Street, 2353 Webster Street Parking Garage, 260 Townsend and 830 First Street, which were sold to unrelated third parties in March 2019. Represents gross monthly base rent, as of Decembe
Slide 13: Attractive, Flexible Capital Structure
Attractive, Flexible Capital Structure 13 Target Capital Structure Target capital structure of 45% common equity, 55% preferred equity and debt - seeks to enhance common equity returns with low relative risk Plan to maintain long-term debt at minimal levels (other than with respect to debt incurred
Slide 14: Attractive, Flexible Capital Structure
Attractive, Flexible Capital Structure Target Capital Structure Debt and Preferred Equity, 55% Common Equity, 45% CMCT ‘Target capital structure of 45% common equity, 55% preferred ‘equity and debt - seeks to enhance common equity returns with low relative risk Plan to maintain long-term debt at min
Slide 15: Resources & Expertise of Institutional Owner Operator: CIM Group Co-Founders
Resources & Expertise of Institutional Owner Operator CIM Group Co-Founders 15 Richard Ressler CIM Group Principal, CMCT Chairman of the Board Founder and President of Orchard Capital Corp., a firm through which Mr. Ressler oversees companies in which Orchard Capital or its affiliates invest Co-Foun
Slide 16: Resources & Expertise of Institutional Owner Operator: CMCT Management
Resources & Expertise of Institutional Owner Operator CMCT Management 16 Charles Garner CMCT Chief Executive Officer, CIM Group Principal CEO of CMCT and serves on CIM Group’s Investment Committee Prior to joining CIM Group, worked closely with the firm in various capacities since 1996, including or
Slide 17: CIM community qualification process and criteria
Since 1994, CIM has qualified 122 communities in high barrier-to-entry markets and has owned and operated assets in 72 of those communities. The qualification process generally takes between six months and five years and is a critical component of CIM’s asset evaluation. CIM believes that its commun
Slide 18: Recent CMCT Transactions
Recent CMCT Transactions 18 Note: These examples have been selected to generally illustrate CIM’s philosophy and may not be representative of future acquisitions. 1130 Howard Street 9460 Wilshire Boulevard Location Acquisition Date SoMa District of San Francisco, CA December 2017 Location Acquisitio
Slide 19: Program to Unlock Embedded Value and Improve Trading Liquidity
Program to Unlock Embedded Value and Improve Trading Liquidity Unlock Embedded Value Through Targeted Asset Sales Monetize stabilized assets to unlock embedded value that has been created since 2006 Use a significant portion of net proceeds from asset sales to return capital to common stockholders A
Slide 20: Program to Unlock Embedded Value and Improve Trading Liquidity
Program to Unlock Embedded Value and Improve Trading Liquidity CMCT Unlock Embedded + Monetize stabiized asses to unlock embedded valve that has been created since 2008 Value Through » Use a significant potion of net proceeds from asset sales to return capital to common stockholders Targeted Asset S
Slide 21: Important Information
Important Information 21 Assets Owned and Operated (AOO) represents the aggregate assets owned and operated by CIM on behalf of partners (including where CIM contributes alongside for its own account) and co-investors, whether or not CIM has discretion, in each case without duplication. AOO includes