Independence Realty Trust, Inc. · NYSE:IRT
Independence Realty Trust — Investor Presentation (May 2014)
20 slides from Independence Realty Trust's investor presentation, May 29, 2014
Slide 1: Independence Realty Trust, Inc.
Exhibit 99.1 Independence Realty Trust, Inc. May 2014
Slide 2: Forward Looking Statements, Non-GAAP Financial Measures and Disclaimers
Forward Looking Statements, Non-GAAP Financial Measures and Disclaimers This document and the related presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, stat
Slide 3: Who are we?
Who are we? • IRT is an apartment REIT focused on building a portfolio of well-located apartment properties in supply constrained secondary and tertiary markets which generate attractive current returns with the potential for rent increases and improved operating efficiency. – Listedon the NYSEMKTin
Slide 4: Management Team
Management Team Scott F. Schaeffer Chairmanand CEO– IndependenceRealty Trust, Inc. & Chairmanand CEO– RAITFinancial Trust CEO and ManagerIndependent – Realty Advisors, LLC Over 28 year career in real estate James J. Sebra CFOand Treasurer– IndependenceRealty Trust, Inc. & CFOand Treasurer– RAITFinan
Slide 5: Attractive Apartment Industry Dynamics Support Strong Demand
Attractive Apartment Industry Dynamics Support Strong Demand Positive Trends IRT expects conditions will remain favorable for apartment fundamentals for the foreseeable future in secondary markets. • PositiveDemographicFactors.The Echoboom generation,which is significantlylarger than Gen X, is enter
Slide 6: Key Statistics Strong Momentum in the Business
Key StatisticsStrong - Momentum in the Business • Since March 31, 2013, IRT has more than doubled its portfolio by number of units and properties As of or For the Three-Month Periods Ended March 31, December 31, September 30, June 30, March 31, 2014 2013 2013 2013 2013 Financial Statistics: Total re
Slide 7: Where we are?
Where we are? • IRT seeks to acquire well-located, stable apartment properties in secondary and tertiary markets – IRT owned 17 apartment properties totaling 4,970 units in 10 states at March 31, 2014 – IRTcorporateoffice – Philadelphia,PA National Footprint(1) Geographic Diversity (by units) (1) MO
Slide 8: IRT Portfolio
IRT Portfolio At March 31, 2014 Tresa at Arrowhead Centrepoint Belle Creek Crestmont Cumberland Glen Phoenix, Arizona Tucson, Arizona Henderson, Colorado Marietta, Georgia Smyrna, Georgia Runaway Bay Copper Mill Heritage Trace Berkshire Square The Crossings The Reserve at Eagle Ridge Indianapolis, I
Slide 9: Stable, Geographically Diversified Portfolio
Stable, Geographically Diversified Portfolio ($ in thousands, except per unit data) Average Monthly Purchase Year Built or Physical Effective Rent per Property Name Location Acquisition Date Price Debt Renovated(1) Units(2) Occupancy(3) Occupied Unit(4) (5) Belle Creek Henderson, Colorado 4/29/2011
Slide 10: Disciplined Approach to Acquisitions
Disciplined Approach to Acquisitions 1 2 3 Markets Sourcing Assets • Focus on acquiring assets in • Source acquisitions through • Target Profile for Acquisitions supply constrained submarkets existing relationships and – Mid-rise/garden style (150-500 established channels units) with good amenities
Slide 11: Pipeline & Recent Activity
Pipeline & Recent Activity • Acquisition pipelineof approximately2,676unitswithanestimatedaggregate purchase priceof $252.2millionat May27,2014 (1) Arbors at the Carrington Park (2) Reservoir Purchase Date May 7, 2014 Purchase Date TBD (In contract) MSA Little Rock, AK MSA Jackson, MS Year Built 199
Slide 12: Sponsor: RAIT Financial Trust (NYSE: RAS)
Sponsor: RAIT Financial Trust (NYSE: RAS) • RAIT is a multi-strategy commercial real estate company organized as an internally-managed REIT with $5.1 billion of assets under management as of March 31, 2014 – RAIT’s IPO J–anuary 1998 • Scalable “in-house” commercial real estate platform with more tha
Slide 13: Strong Alignment of Interests Between Sponsor and Stockholders
Strong Alignment of Interests Between Sponsor and Stockholders • RAIT is the largest stockholder in IRT with 7.0 million shares or 39.3% of IRT’s outstanding common stock at March 31, 2014 • RAIT controls entities that advise and manage IRT and its properties – Externally managed by Independence Rea
Slide 14: IRT Financial Highlights
IRT Financial Highlights ($ in millions, except per share data) Revenue NOI Core FFO per Share Dividends per Share Note: Refer to slide 18 for reconciliation of Core FFO to GAAP net income (loss). 14
Slide 15: Highlights
Highlights 1 Strong Momentum in the Business 2 Stable Portfolio in Supply-Constrained Markets 3 Disciplined Acquisition Strategy with Robust Pipeline 4 Strong Sponsorship and Alignment of Interest with IRT Stockholders 5 Attractive Dividend 15
Slide 16: Appendix
| fm Independence A Realty Trust
Slide 17: Income Statement
Income Statement At March 31, 2014 ($ in millions, except per unit data) For the Three-Month Periods Ended March 31 2014 2013 REVENUE: Rental income ......................................................................................................................................... $ 7,353 $ 4,1
Slide 18: Balance Sheet
Balance Sheet At March 31, 2014 ($ in millions, except per unit data) As of As of March31, December31, 2014 2013 ASSETS: Investments in real estate: Investments in real estate at cost ............................................................................................................. $ 320,
Slide 19: Mortgage Indebtedness
Mortgage Indebtedness At March 31, 2014 ($ in millions, except per unit data) Outstanding Principal Carrying Amount Effective Interest Rate Maturity Date Belle Creek Apartments ............. 10,575 10,575 2.4%(1) April 28, 2021 Berkshire Square Apartments ........................... 8,612 8,612 4.4%
Slide 20: Non-GAAP Financial Measures: FFO and CFFO
Non-GAAP Financial Measures: FFO and (1)CFFO For the Three-Month Period For the Three-Month Period Ended Ended March 31, 2014 March 31, 2013 Amount Per Share Amount Per Share Funds From Operations: Net income (loss)................................ ............... $ 2,935 $ 0.19 $ 340 $ 0.06 Adjustme
Independence Realty Trust — Investor Presentation (May 2014) on 6ix