Cto Realty Growth, Inc. · NYSE:CTO
Cto Realty Growth — Investor Presentation (April 2021)
23 slides from Cto Realty Growth's investor presentation, Apr 29, 2021
Slide 1: Investor Presentation April 2021
Investor Presentation April 2021 REALTY GROWTH NYSE: CTO
Slide 2: Forward Looking Statements
Forward Looking Statements 2 Certain statements contained in this presentation (other than statements of historical fact) are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. For
Slide 3: Company Profile
Company Profile 3 As of March 31, 2021 or as otherwise noted; any differences a result of rounding. (1) Based on monthly Contractual Base Rent (“CBR”), which represents the amount owed to the Company under the terms of its lease agreements in each respective month. (2) Calculated on 2,039,644 common
Slide 4: Year-to-Date 2021 Highlights
Year-to-Date 2021 Highlights 4 Strong Financial Performance ▪ Reported Q1 2021 FFO and AFFO per share of $0.89 and $0.97, respectively ▪ Paid and announced a $1.00 per share regular quarterly cash dividend for Q1 2021 and Q2 2021, respectively Accretive Investment Activity ▪ Acquired 2 properties in
Slide 5: Experienced Management Team
Experienced Management Team CTO Realty Growth is led by an experienced management team with meaningful shareholder alignment, deep industry relationships and a strong long-term track record. 5 John P. Albright President & Chief Executive Officer ▪ Former Co-Head and Managing Director of Archon Capit
Slide 6: Investment Strategy
Investment Strategy CTO’s investment strategy is focused on generating outsized returns for our shareholders through a combination of asset-level value creation, acquiring at meaningful discounts to replacement cost, and sustainably growing organizational level cash flow. Diversified asset investmen
Slide 7: Tenant Strategy
Tenant Strategy CTO’s tenant strategy is to align its investments with high-quality, relevant and well-performing tenants who support stable operating fundamentals and who promote community engagement engagement. 7 Nearly 50% of Contractual Base Rent comes from these high-quality tenants
Slide 8: Portfolio At A Glance
32% 66% 3% Office Retail Hotel Portfolio At A Glance 8 FL 33% AZ 13% GA 12% NC 9% NM 8% TX 8% VA 7% UT 4% NV 7% Other 5% 49% 51% Single-Tenant Multi-Tenant Income Producing Property CTO Target Market/State Non-Target State Where CTO Owns a Property Percentages listed based on in-place, cash rent as
Slide 9: Ashford Lane, Atlanta, GA (Repositioning)
Ashford Lane, Atlanta, GA (Repositioning) 9 Acquired as Perimeter Place in 2020, with an opportunity to up-tier through targeted lease-up, an improved tenant mix and market repositioning ▪ High barrier-to-entry location with new residential projects, increasing density and 24- hour demand ▪ Near sou
Slide 10: Ashford Lane, Atlanta, GA (Repositioning)
Ashford Lane, Atlanta, GA (Repositioning) 10 Ashford Lane will incorporate outdoor seating and eating areas, along with a number of new green spaces, including The Lawn, that will drive a more community-focused experience Ashford Lane is being repositioned as a higher-end shopping and dining destina
Slide 11: Beer Garden Redevelopment, Daytona Beach, FL
Beer Garden Redevelopment, Daytona Beach, FL 11 ▪ Organic growth opportunity to create immediately cash flowing asset from legacy vacant land ▪ Leverages strong leisure travel demand and limited food in beverage options in one of the countries most active vacation destinations ▪ Complimentary to the
Slide 12: Crabby's Oceanside Expansion, Daytona Beach, FL
Crabby’s Oceanside Expansion, Daytona Beach, FL 12 ▪ Organic growth opportunity to expand existing footprint to create a “Tiki Bar” that better engages with the beach ▪ CTO to receive up to a double-digit yield on cost through base rent, with upside through percentage rent above a natural sales brea
Slide 13: Recent Acquisitions – Jordan Landing, West Jordan, UT
Recent Acquisitions – Jordan Landing, West Jordan, UT 13 Jordan Landing is a three-tenant, approximately 183,000 square foot retail building within the major retail corridor of West Jordan, UT in the growing Salt Lake City, UT metropolitan area anchored by At Home and Burlington. ▪ Three-mile popula
Slide 14: Recent Acquisitions – Westland Gateway, Hialeah, FL
Recent Acquisitions – Westland Gateway, Hialeah, FL 14 Westland Gateway is a four-tenant, approximately 108,000 square foot retail building that is master leased to a public company owner & developer, and is located in the highly desirable Miami submarket of Hialeah, FL. ▪ Two layers of credit – Tri
Slide 15: Recent Acquisitions – Sabal Pavilion, Tampa, FL
Recent Acquisitions – Sabal Pavilion, Tampa, FL 15 Situated on 12 acres at the entrance to Sabal Park, one of Tampa's most widely-recognized master-planned business parks, Sabal Pavilion is a high- quality office building built by Highwoods Properties, Inc. has been 100% occupied by Ford Motor Credi
Slide 16: Land Joint Venture
Land Joint Venture 16 Largest Remaining Parcels to Sell 850 Acres - Industrial Park Estimated Value: $20 million - $30 million 177 Acres - Tomoka North Estimated Value: $20 million - $30 million 155 Acres - Tomoka Village Estimated Value: $12M - $17M Approximately 1,600 acres remaining in the Land J
Slide 17: Peer Comparisons
Peer Comparisons 17 22.5x 19.5x 16.7x 15.4x 14.1x 13.5x 12.9x 12.5x 3.9% 2.9% 3.5% 5.7% 2.4% 5.1% 7.7% 4.4% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00% 10.0x 11.0x 12.0x 13.0x 14.0x 15.0x 16.0x 17.0x 18.0x 19.0x 20.0x 21.0x 22.0x 23.0x 24.0x 25.0x All peer data from Capital IQ
Slide 18: Balance Sheet
Balance Sheet 18 $0.0 $100.0 $100.0 $62.5 $50.0 $30.0 $44.8 $44.8 $65.2 $65.2 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Fixed Floating Total Commitments Component of Long-Term Debt Principal Interest Rate Maturity Date Revolving Credit Facility (1) $100.0 millio
Slide 19: 2021 Guidance
2021 Guidance 19 Full Year 2021 Guidance Ranges Acquisition of Income-Producing Assets $75.0 million – $125.0 million Target Investment Yield (Initial Yield – Unlevered) 6.50% – 7.25% Disposition of Income-Producing Assets $75.0 million – $125.0 million Target Disposition Yield 6.35% – 6.75% FFO per
Slide 20: Appendix
Appendix REALTY GROWTH FIDELITY, ALBUQUERQUE, NM NYSE: CTO
Slide 21: Schedule of Properties
Schedule of Properties 21 Property Asset Type Property Type Square Feet Occupancy % of ABR Ashford Lane – Atlanta, GA Multi-Tenant Retail 269,695 71% 13.4% Crossroads Towne Center – Chandler, AZ Multi-Tenant Retail 253,977 98% 11.3% The Strand – Jacksonville, FL Multi-Tenant Retail 212,287 92% 10.8%
Slide 22: Schedule of Properties
Schedule of Properties 22 Property Asset Type Property Type Square Feet Occupancy % of ABR Burlington – North Richland Hills, TX Single Tenant Retail 70,891 100% 1.9% Landshark Bar & Grill – Daytona Beach, FL Single Tenant Retail 6,264 100% 1.6% Harris Teeter/Food Lion – Charlotte, NC Single Tenant
Slide 23: The Carpenter Hotel, Austin, TX
REALTY GROWTH NYSE: CTO THE CARPENTER HOTEL, AUSTIN, TX Ground Lease in Austin
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