Equity Lifestyle Properties, Inc. · NYSE:ELS
Equity Lifestyle Properties — Investor Presentation (June 2014)
14 slides from Equity Lifestyle Properties's investor presentation, Jun 2, 2014
Slide 1: Equity LifeStyle Properties
Equity LifeStyle Properties ELS
Slide 2: Our Story
Our Story One containing of the nation’s over 140,000 largest sites real in estate 32 states networks and British with 379 Columbia properties Unique business model Own the land costs Low maintenance costs/customer turnover Lease developed sites High-quality real estate locations More than 80 proper
Slide 3: Property Locations
Property Locations WA OR ID CA NV UT AZ WY MT ND NE KS OK TX MN WI IA MO AR IA MS IL MI IN OH KY TN AL CA FL SC WV VA NC PA NY ME VT NH MA RI CT NJ DE MD ELS 2
Slide 4: Steady, Predictable Revenue Streams
Steady, Predictable Revenue Streams Property Operating Revenue Buckets(1) Property/Site composition Transient 4.6% 201 home manufactured/resort communities Seasonal 3.3% 71,500 sites Annual resorts Right to Use 178 RV resorts 8.1% 68,800 sites Annuals 25,000 Seasonal 9,400 Annual RV Transient 10,300
Slide 5: Our Customers
Our Customers Customers own the units they place on our sites Manufactured homes Resort cottages (park models) Recreational vehicles We offer a lifestyle and a variety of product options to meet our customers’ needs term relationships with our customers We seek to create long- Manufactured RV Site E
Slide 6: Favorable Customer Demographics
Favorable Customer Demographics The population of people age 55 and older is expected to grow 26% from 2015 to 2030. U.S. Population Over Age 55 (in millions) RV Owners 8M - 9M RV owners Over 230K RV sales in 2013 Average of 42K RV owners within 100 miles of each ELS resort ELS 120,000,000 100,000,0
Slide 7: Track Record
Track Record Item IPO Year - 1993 2014 Properties 41 379 Sites 12,312 140,333 States 16 32 FFO Per Share (1) $0.47 $2.71 Normalized FFO Per Share (1) $0.47 $2.72 Common Stock Price (2) $6.44 $41.87 Enterprise Value (3) $296 million $6.1 billion Dividend Paid Cumulative (4) - $16.80 Cumulative Total
Slide 8: Consistent Same Store NOI Growth and Outperformance
Consistent REIT Industry Apartments ELS Industry Average - 2.3% Apartments Average - 2.6% ELS Average - 3.7% 10.0% Same Store 9.5% 9.0% 8.5% NOI Growth and 8.0% 7.5% Outperformance 7.0% 6.5% 6.0% 5.5% 5.0% 4.5% 4.0% 3.5% Q3 1998-Q1 2014(1) 3.0% 2.5% 2.0% 1.5% Same Store NOI Averages: 1.0% 0.5% ELS 3
Slide 9: ELS vs. Multifamily
ELS vs. Multifamily (1) Same Store NOI Indexed Growth Same Store NOI Indexed Growth NOI ELS growth compounded rates significantly Same Store 170 outperformed the REIT Multifamily industry since 1999 160 150 140 FFO Multiples ELS Multifamily (4) 130 120 1996-2001 (3) 13.2x 10.7x 110 2002-2012 (3) 16.
Slide 10: Capital Structure
Capital Structure As of April 30, 2014 (in millions) Total enterprise value is $6.1 billion Debt to enterprise value is 35.8% $380 million available line of credit Note: 1) Stock price as of April 30, 2014. 9 OPU’s $318.8, 5.2% Term Loan $200.0, 3.3% Preferred $136.1, 2.2% Mortgage Debt $1,995.4 32.
Slide 11: Performance Update
Performance Update 197 Manufactured Home Communities(1) 177 RV Resorts(1) (2) occupancy of 92% Core resort income Core growth for the month Core (3) occupancy has grown 18 consecutive ended 4/30/2014 is 6.8% quarters through 3/31/2014 Annual growth rate for the month ended Core community base rental
Slide 12: Safe Harbor Statement
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: The under forward the heading -looking “Risk statements Factors” contained in our 2013 in this Annual presentation Report are on subject Form 10 to- certain K and our economic Quarterly risks Report and uncertainties o
Slide 13: Non GAAP Financial Measures
Non GAAP Funds from Operations (“FFO”) is a non-GAAP financial measure. We believe FFO, as defined by the Board of Governors of the National Association of Real Estate Investment Trusts (“NAREIT”), is generally an appropriate measure of performance Financial for an equity REIT. While FFO is a releva
Slide 14: Equity LifeStyle Properties
Equity LifeStyle Properties Two North Riverside Plaza, Chicago, Illinois 60606 800-247-5279 | www.EquityLifeStyle.com
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