Slide 1: NAREIT REITWorld Investor Presentation November 15-16, 2016
NAREIT REITWorld Investor Presentation November 15 – 16, 2016
Slide 2: Forward-Looking Statements
1 Forward-Looking Statements in this presentation, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical, including statements regarding management’s
Slide 3: Company Snapshot
2 Company Snapshot Non-traded public REIT founded in 2004. Independent & fully internalized/self-managed as of January 1, 2015 88 open-air shopping centers / 15.1 million sq. ft. with a Sunbelt concentration(1) 56% of gross leasable area (“GLA”) consists of grocery anchored centers(2) 69% of GLA con
Slide 4: Our Journey to a Pure-Play Retail Platform
3 Our Journey to a Pure-Play Retail Platform 20 13 $460 million apartment portfolio sale to Completed $1.8 billion sale of net lease (non-core) assets to 20 14 $395 million modified “Dutch Auction” tender offer(Repurchased shares at high-end of the range and all shares properly tendered were r
Slide 5: 2015 to 2016 Continued Evolution as a Retail REIT
20 15 Spin-off & listing of Xenia on the NYSE Implemented independent brands and business plans for multi-tenant retail and student housing platforms As of 2015, total portfolio repositioning (acq. & sales) since 2012 = approx. $4.6B(Not including Xenia) 20 16 Spin-off of “non-core” assets i
Slide 6: Strong Fundamentals for Open-Air Retail Centers
Strong Fundamentals for Open-Air Retail Centers Retail supply remains at historic lows High occupancy rates continue with solid demand from small shops & specialty grocers opening up new stores Pure-play online retailers opening up brick & mortar stores Discounters & off-price concepts are increasin
Slide 7: Focus on Transformation of Portfolio Continues
6 Focus on Transformation of Portfolio Continues Total(1) Strategic Retail Portfolio(1) Non-Strategic Retail Portfolio(1) Properties 88 61 27 Gross GLA (2) 15.1M 10.6M 4.5M % Economic Occupancy 95% 97% 90% % Grocery Anchored(3) 56% 65% 35% ABR per SF(3) $15.41 $15.92 $14.13 3-Mile Population ~77K ~7
Slide 8: Market Presence – Concentration on Demographics
7 Market Presence – Concentration on Demographics 88 15.1 # of Properties Million Retail Sq. Ft. As of 09/30/16, includes IAGM JV
Slide 9: Focused on Growth Sunbelt Markets
8 Focused on Growth Sunbelt Markets Our Top Markets by Gross Leasable Area (GLA) as of 9/30/16(1) (1) The analysis includes retail properties wholly owned and those owned with IAGM JV as of 9/30/2016 (2) Source: Green Street Advisors, as of 09/30/16 13.5% 11.1% 7.9% 6.9% 5.4% 5.3% 5.1% 4.3% 3.8% 3.2
Slide 10: Staggered Lease Renewals & High Quality Tenants
9 Staggered Lease Renewals & High Quality Tenants 11.8% 13.2% 15.5% 12.4% 12.2% 2017 2018 2019 2020 2021 0.0% 5.0% 10.0% 15.0% 20.0% Lease Expiration by % of Total Annualized Rent As of 09/30/16, includes IAGM JV Diversified and Balanced Tenant Concentration (by GLA) 5.9% 4.2% 3.3% 2.4% 2.4% 3.0% 2.
Slide 11: Driving Future Growth Through Selective Investment Strategy
10 Driving Future Growth Through Selective Investment Strategy Simple, Focused & Disciplined Exit Markets with Insufficient Asset Concentration Sell Non-Strategic Assets with Low Growth Potential Invest In Open- Air Centers • Grocery- anchored • Power centers Invest in Markets w/ Strong Demographics
Slide 12: Investment Strategy Execution
11 Investment Strategy Execution Date Range: 1/1/15 to 11/7/2016 Acquisitions (1) Dispositions (1) Number of Properties 13 38 GLA (2) 2.2M Average (~169K) 3.9M Average (~102K) Occupancy (3) 96% 92% ABR per SF(4) $17.71 $13.14 (1) The analysis includes retail properties owned and IAGM JV as of 11/7/2
Slide 13: Recent Acquisitions – Upgrading the Portfolio
12 Recent Acquisitions – Upgrading the Portfolio Old Grove Marketplace • Oceanside, CA (San Diego) • Acquired August 2016 • Ralph’s anchored • 91% occupied • 81K sq. ft. • 3-mile Avg. Income - $68,000 • 3-mile Population – 113,000 Northcross Commons • Charlotte, NC • Acquired Oct. 2016 • Whole Foods
Slide 14: Long-Term Balance Sheet Management
13 Long-Term Balance Sheet Management Structure liabilities to reduce cyclical pressures Well-staggered debt maturities Increase unencumbered asset base Maintain flexibility and access to a variety of capital Use dispositions and student housing sale as a source of capital Shape capital structure to
Slide 15: Balance Sheet Metrics
14 Balance Sheet Metrics As of Sept. 30, 20161 Total Debt / Total Assets 26.6% Weighted Avg. Interest Rate 4.37% Weighted Avg. Maturity 3.71 years Unsecured Credit Facility Availability $450M $- $100 $200 $300 $400 $500 2016 2017 2018 2019 2020 Thereafter Manageable Debt Maturities as of 9/30/16 Ter
Slide 16: Strategy Moving Forward as a Pure-Play Retail REIT
Strategy Moving Forward as a Pure-Play Retail REIT Focus and drive value as a pure-play retail platform Concentrate investment capital in high job & population growth markets - Sunbelt focused Opportunistically sell non-strategic retail properties Continue to strengthen our balance sheet and capital
Slide 17: “* Inventrust
“* Inventrust % A "Properties
Slide 18: InvenTrust Executive Team
17 InvenTrust Executive Team Tom McGuinness President & CEO 35 years in commercial real estate industry including several leadership positions with notable industry associations. McGuinness was appointed as a director of InvenTrust in Feb. 2015, Chief Executive Officer in Nov. 2014 and has served as