Crexus Investment — Q2 2012 Earnings Presentation
15 slides from Crexus Investment's earnings presentation, Aug 2, 2012
Slide 1: Supplemental Investment Information Quarter Ended June 30, 2012
SUPPLEMENTAL INVESTMENT INFORMATION QUARTER ENDED JUNE 30, 2012 CREXUS INVESTMENT CORP. 1 ww.crexusinvestment.com
Slide 2: Forward-looking statements
This presentation and our public documents to which we refer contain or incorporate by reference certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements which are based on va
Slide 3: Q2 Investment Highlights
Q2 Investment Highlights Portfolio Additions –$100 million mezzanine loan (11.50% coupon) on a geographically diverse portfolio of suburban office buildings –$50 million mezzanine loan (11.00% coupon) secured by a geographically diverse portfolio of cold and dry storage warehouses Portfolio Repaymen
Slide 4: Investment Portfolio Composition
CREXUS INVESTMENT CORP. 4 Investment Portfolio Composition (1) Weighted average coupon based on Remaining Principal Amounts. (2) Maturity dates assume all of the borrowers’ extension options are exercised. (3) Purchase price for Real Estate held for Investment. Average asset cost basis for Real Esta
Slide 5: Senior Debt Positions
CREXUS INVESTMENT CORP. 5 Senior Debt Positions As of June 30, 2012. (1) Maturity date assumes all the borrowers’ extension options are exercised. (2) Based on most recent third party appraisal, which may be prior to the transaction date. (3) Square footage in thousands. (4) Net cash flow after fund
Slide 6: Subordinate and Mezzanine Debt Positions
CREXUS INVESTMENT CORP. 6 Subordinate and Mezzanine Debt Positions As of June 30, 2012. (1) Maturity date assumes all the borrowers’ extension options are exercised. (2) Based on most recent third party appraisal, which may be prior to the transaction date. (3) Square footage in thousands. Loan Type
Slide 7: Subordinate and Mezzanine Debt Positions (continued)
CREXUS INVESTMENT CORP. 7 Subordinate and Mezzanine Debt Positions (continued)As of June 30, 2012. (1) Maturity date assumes all the borrowers’ extension options are exercised. (2 ) Based on most recent third party appraisal, which may be prior to the transaction date. (3) Square footage in thousand
Slide 8: Real Estate Properties Portfolio
CREXUS INVESTMENT CORP. 8 Real Estate Properties Portfolio Property Type Location Transaction Date Asset Basis ($000’s) Gross Asset Yield First Mortgages ($000’s) First Mortgage Coupon Net Equity Investment ($000’s) Net EquityYield Property Size(1) Equity Basis REAL ESTATE HELD FOR SALE:REAL ESTATE
Slide 9: Portfolio Composition
CREXUS INVESTMENT CORP. 9 Portfolio Composition Assets Loan Type Percentages are based on carrying amounts as of June 30, 2012.
Slide 10: Portfolio Diversification - Debt
CREXUS INVESTMENT CORP. 10 Portfolio Diversification - Debt Percentages are based on carrying amounts as of June 30, 2012. Hotel, 31% Geographic Region Property Type
Slide 11: Portfolio Diversification – Real Estate Properties
CREXUS INVESTMENT CORP. 11 Portfolio Diversification – Real Estate Properties Percentages are based on carrying amounts as of June 30, 2012. Geographic Region Property Type
Slide 12: Debt Portfolio Management
Debt Portfolio Management Extending Maturities Increasing Returns TPIROL WAM: BOs Portfolio weighted average coupon has increased over 6/30/2012WAM: 4.745, 50% in the past 6 months we SC 8% _ 150 6.03% . f | i o 2% Lo fal ° 2012 2013 2014 2015 2016 2017 2019 2021 2022 raen20r4 0012 '= Portfolio Loan
Slide 13: Financial Statements
Slide 14: Balance Sheet – Q2 2012
CREXUS INVESTMENT CORP. Balance Sheet – Q2 2012 (1) Derived from the audited financial statements at December 31, 2011. CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION(dollars in thousands, except per share data) June 30, 2012 December 31, 2011 Commercial real estate loans net of allowance for loan l
Slide 15: Income Statement - Q2 2012
JCREXUS Income Statement - Q2 2012 (CREXUS NVESTMENT CORP, (CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME fréekame 0, ended Marr, ended Dewmber eed Septerber erase 3, Gers n usands, en shw apa ered) st Sica pe ‘arr fuawing (nating) _ ed vesaieg —__ nas boorey som $m sme suet ies epee ‘a oy * an a)