Peakstone Realty Trust · NYSE:PKST
Peakstone Realty Trust — Griffin Capital Essential Asset REIT II — Q2 2018 Earnings Presentation
18 slides from Peakstone Realty Trust's earnings presentation, Aug 15, 2018
Slide 1: Summary of Earnings Results Second Quarter 2018
SUMMARY OF EARNINGS RESULTS Second Quarter 2018 We intend to invest in properties leased to blue chip tenants and/or companies with investment grade credit ratings. There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. Blue
Slide 2: Conference Call Agenda
Conference Call Agenda TOPIC SPEAKER Introduction and Portfolio Characteristics Michael Escalante | President & Director Portfolio Update Michael Escalante | President & Director Financial Performance Review Javier Bitar | Chief Financial Officer Questions & Answers Michael Escalante and Javier Bita
Slide 3: Introduction and Portfolio Characteristics
commen Introduction and Portfolio Characteristics Michael Escalante | President & Director
Slide 4: Characteristics
Portfolio Characteristics June 30, 2018 December 31, 2017 Total Capitalization (1) $1.3 billion $1.2 billion Total Acquisition Value $1.1 billion $1.1 billion Number of Properties 27 27 Number of Buildings 35 35 Size of Portfolio (square feet) 7.3 million 7.3 million Occupied/Leased (based on portfo
Slide 5: Characteristics (cont'd)
Portfolio Characteristics (cont’d) June 30, 2018 December 31, 2017 Weighted Average Annual Rent Increase (1) 2.4% 2.4% Total Real Estate, Net $1.1 billion $1.1 billion Total Assets $1.2 billion $1.2 billion Total Debt $0.5 billion $0.5 billion Total Equity Raised (including DRP), Net of Redemptions
Slide 6: Portfolio Update
Portfolio Update Michael Escalante | President and Director
Slide 7: National Diversification
Portfolio Characteristics* National Diversification as of June 30, 2018 18 21 5 13 14 4 12 8 17 6 18 7 13 16 19 *Logos shown are those of tenants, lease guarantors, or non-guarantor parent companies at our properties. * Logos shown are those of tenants, lease guarantors, or non-guarantor parent comp
Slide 8: Tenant Business Diversity
Portfolio Concentration As of June 30, 2018 Consumer Services: 16.6% Tenant Business Diversity (2) Griffin Capital management makes a All Others: 4.8% conscious effort to achieve diversification by tenant industry as Pharmaceuticals, Biotechnology Griffin Capital Essential Asset REIT II’s & Life Sci
Slide 9: Geographic Distribution and Asset Allocation
Portfolio Concentration As of June 30, 2018 GEOGRAPHIC DISTRIBUTION ASSET ALLOCATION (By % of Net Rent) (By % of Net Rent) Ohio: 12.8% Office: 76.6% (2) All Others: 11.6% Illinois: 11.3% North Carolina: 3.5% Oregon: 4.2% California: 11.2% Texas: 5.3% Alabama: 10.9% (1) Nevada: 8.9% Arizona: 9.7% New
Slide 10: Credit Concentration
Portfolio Concentration As of June 30, 2018 CREDIT CONCENTRATION (By % of Net Rent) (1) Investment Grade: 75.6% Sub-Investment Grade: 24.4% (1) Investment grade descriptions are those of either tenants, guarantors, and/or non-guarantor parents with investment grade ratings or what management believe
Slide 11: Strong Tenant Profile - Top Tenants
Strong Tenant Profile - Top 10 Tenants As of June 30, 2018 Top Tenants % of Portfolio(1) S&P(2) 10.9% A- 7.6% A2(3) 7.4% AA- (4) 7.2% A+(5) 6.9% BB+(6) 6.1% BB+ 5.8% AA- (1) Based on net rental payment. (2) Ratings are those of tenants, guarantors, or non-guarantor 5.5% BB parent entities. (3) Repre
Slide 12: Net Asset Value
Net Asset Value As of June 30, 2018 Set forth below are the components of our daily NAV as of June 30, 2018 and March 31, 2018 calculated in accordance with our valuation procedures (in thousands, except share and per share amounts)(1): As of June 30, 2018 As of March 31, 2018 Gross Real Estate Asse
Slide 13: Financial Performance Review
Financial Performance Review Javier Bitar | Chief Financial Officer
Slide 14: Financial Performance
Financial Performance (dollars in thousands, except per share amounts) Six Months Ended June 30, Three Months Ended June 30, 2018 2017 2018 2017 Total Revenue $ 53,086 $ 52,518 $ 26,297 $ 26,546 Net Income Attributable to Common Stockholders $ 326 $ 6,487 $ (477) $ 3,364 Net Income Attributable to C
Slide 15: Debt Maturity Schedule
Debt Maturity Schedule (including effect of interest rate swap) As of June 30, 2018 (dollars in thousands) Statistics Fixed(1) Floating(2) Total Amount $ 476,970 $ 13,085 $ 490,055 Percentage 97% 3% 100% W.A. Term Remaining (Yrs) 8.16 4.99 8.08 W.A. Interest Rate (%) 3.82% 3.41% 3.81% $280,000 (5) $
Slide 16: Financing Activities Quarter Ended June 30, 2018
Financing Activities Quarter Ended June 30, 2018 CMBS loan Closing date: April 27, 2018 Banks: Bank of America and KeyBank, NA Amount/Outstanding: $250.0 million Maturity date: May 1, 2028 Stated interest rate: 4.315% Payments: Monthly/Interest only Secured properties: Southern Company/IGT/Amazon/3M
Slide 17: Questions & Answers
Questions & Answers Michael Escalante | President and Director Javier Bitar | Chief Financial Officer
Slide 18: Thank you
Thank you cern] fOr YOur participation. CAPITAL rested §=www.griffincapital.com THIS IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN.
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