W. P. Carey Inc. Reit · NYSE:WPC
W. P. Carey Inc. Reit — Corporate Property Associates 18 – Global (CPA:18 – Global) — Investor Presentation (2021)
29 slides from W. P. Carey Inc. Reit's investor presentation, 2021
Slide 1: Investor Presentation Second Quarter 2021
Investor Presentation Second Quarter 2021
Slide 2: CPA:18 – Global Overview
CPA®:18 – Global Overview A non-traded REIT, sponsored by W. P. Carey Inc., that invests in a diversified portfolio of income-producing commercial properties and other real estate-related assets, both domestically and outside the United States. We seek to provide investors with: Income Generation We
Slide 3: W. P. Carey's 45+ Years of Experience
W. P. Carey’s 45+ Years of Experience A sponsor with a history of delivering steady income and growth to investors • Founded in 1973, W. P. Carey has been a capital provider to growing companies for more than 40 years • W. P. Carey Inc. (NYSE: WPC) ranks among the largest publicly-traded net lease R
Slide 4: CPA:18 – Global Investment Strategy
CPA®:18 – Global Investment Strategy Our primary investment strategy is to acquire, own and manage a portfolio of income-generating commercial real estate properties and real estate-related assets with the potential to realize attractive, risk-adjusted returns for our investors Net Lease Properties
Slide 5: Portfolio Overview
CPA:18 GLOBAL Portfolio Overview WePHCAREY
Slide 6: Portfolio Summary
Portfolio Summary As of June 30, 2021 50 65 8.9 years Net Leased Properties Net Lease Tenants Weighted Avg Lease Term 68 15.4M 11 Operating Properties1 Total square footage Countries 7 98.6% $2.3B Development Projects Net-Leased Occupancy Total Assets 1. Our operating portfolio consisted of 65 self-
Slide 7: Portfolio Diversification
Portfolio Diversification1 CPA®:18 – Global is diversified across property type, geography and industry By Property Type By Geography Net Lease (61%) U.S. (64%) Office (32%) United States (64%) Warehouse (10%) Industrial (7%) International (36%) Retail (7%) Norway (9%) Residential (3%) The Netherlan
Slide 8: Portfolio Diversification by Industry and Top 10 Tenants
Portfolio Diversification CPA®:18 – Global is diversified across property type, geography and industry By Industry, Net Lease Tenants ABR1 Top 10 Tenants Stabilized NOI (’000s)3 % of Total Rabobank Groep NV $3,182 5% Hotel and Leisure (16%) -% Banking (12%) Sweetheart Cup Company, Inc. 3,101 5% Groc
Slide 9: Net Lease Tenant Rent Collection
Net Lease Tenant Rent Collection CPA®:18 – Global has collected 91% of rent due in Q2 2021 Q2 2021 9% 91% ABR due and collected ABR due and not collected 9
Slide 10: Net Lease Properties
CPA:18 GLOBAL Net Lease Properties WPL CAREY
Slide 11: Net Lease Properties
Net Lease Properties Properties acquired through long-term net lease asset acquisitions and leased back to the tenant companies primarily on a long-term, triple net basis, which requires the tenant to pay substantially all of the costs associated with operating and maintaining the property. Transact
Slide 12: Net Lease Built-in Contractual Rent Escalations
Net Lease Built-in Contractual Rent Escalations1 Contractual rent escalations support our strategy of providing stable income for our investors and to insulate them from the potential impact of rising interest rates Over 95% of our net leases include built-in contractual rent escalations, with half
Slide 13: Net Lease Maturities and Average Lease Term
Net Lease Maturities and Average Lease Term1 Weighted average lease term is 8.9 years 30% 25% Percentage of Total Contractual Minimum Annualized 20% 19% 16% 15% Base Rent 10% 10% 10% 8% 6% 6% 6% 6% 5% 5% 5% 3% 0% 0% 0% 0% 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Therafte
Slide 14: Operating Properties
CPA:18 GLOBAL Operating Properties WPL CAREY
Slide 15: Operating Property Portfolio
Operating Property Portfolio Our strategy continues to focus on building our estimated net asset value per share (NAV) over time by expanding our diversified portfolio of income-producing commercial properties through investments in the self- storage and student housing sectors. • Complements our ne
Slide 16: Iberian Student Housing Framework Agreement
Iberian Student Housing Framework Agreement Further optimizes student housing properties with immediate income generation • On December 20, 2019, CPA®:18 – Global executed a framework agreement with a third party to enter into net lease agreements for our student housing properties located in Spain
Slide 17: Student Housing Development Projects
Student Housing Development Projects Five student housing development projects remain under construction, which we expect will be accretive to NAV and cash flow as they come online over the next few years Iberian Projects UK and US Projects Operational and Under Lease Open Date Operational Open Date
Slide 18: Balance Sheet and Liquidity
Balance Sheet and Liquidity 18
Slide 19: Balance Sheet and Liquidity
Balance Sheet and Liquidity In light of COVID-19, implemented prudent cash preservation measures with a focus on maximizing shareholder value as CPA®:18 – Global moves later into its lifecycle General Overview Specific Liquidity Management Actions • We believe we have sufficient liquidity to meet ou
Slide 20: Investment Performance
Investment Performance WPL CAREY CPA:18 GLOBAL 20
Slide 21: Annualized Distribution Rates
Annualized Distribution Rates1 Maintained reduced distribution rate to manage long-term liquidity and balance sheet flexibility in light of COVID-19 8.00% 6.20% 6.25% 6.25% 6.25% 6.25% 6.25% 6.25% 6.00% 5.85% 5.91% 5.89% 5.88% 5.64% 5.68% 5.70% 4.00% 3.44% 3.10% 2.67% 2.50% 2.00% 0.00% 2013 2014 201
Slide 22: Estimated Net Asset Value (NAV)
Estimated Net Asset Value (NAV) As of March 31, 2021, the NAV was determined to be $8.91 per Class A share and Class C share based in part on appraisals conducted by independent third-party firm Robert A. Stanger & Co. Inc.1 We obtain an independent rolling appraisal of the fair market value of appr
Slide 23: Historical NAVs Per Share
Historical NAVs Per Share Real estate appreciation has been a positive contributor to historical increases and our five development projects still in the development phase are expected to start generating income upon estimated completion dates extending through 20231 Net Asset Value per Class A and
Slide 24: Total Investment Value
Total Investment Value1 We continue to proactively manage our diversified portfolio of income-generating assets to enhance cash flow, maximize portfolio value and provide long-term value for CPA®:18 – Global shareholders Original Class A Investor Original Class C Investor $16,000 $16,000 $14,787 $14
Slide 25: Summary
CPA:18 GLOBAL Summary WePHCAREY
Slide 26: Summary
Summary We continue to manage our diverse portfolio, taking the prudent steps today to ensure long-term liquidity and balance sheet flexibility. We remain focused on maximizing value to best position CPA:18 – Global when markets recover and stabilize. $8.91 2.50% 7 Years NAV – Class A1 Annualized Di
Slide 27: Investment Highlights
Investment Highlights Holding Period Expectation • We intend to consider alternatives for providing liquidity to our investors beginning after the seventh anniversary of the closing of our initial public offering. Distributions • We intend to pay distributions on a quarterly basis. Distribution Rein
Slide 28: Forward Looking Statements
Forward Looking Statements This presentation may contain certain forward-looking statements, including statements with regard to the future performance of CPA®:18 – Global. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,
Slide 29: An affiliate of W. P. Carey Inc.
An affiliate of W. P. Carey Inc. W. P. Carey Inc. One Manhattan West 395 9th Avenue, 58th Floor New York, NY 10001 1 (800) WP CAREY (972-2739) www.cpa18global.com
Corporate Property Associates 18 – Global (CPA:18 – Global) — Investor Presentation (2021) on 6ix