Independence Realty Trust, Inc. · NYSE:IRT
Independence Realty Trust — Investor Presentation (September 2014)
21 slides from Independence Realty Trust's investor presentation, Sep 10, 2014
Slide 1: Independence Realty Trust, Inc.
Exhibit 99.1 Independence Realty Trust, Inc. September 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: 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. • PositiveDemographic Factors.TheEchoboomgeneration(bornearly80’s– ’00’s),whichis significantlylarger
Slide 5: Key Statistics Strong Momentum in the Business
Key StatisticsStrong - Momentum in the Business • Since June 30, 2013, IRT has more than doubled its portfolio by number of units and properties As of or For the Three-Month Periods Ended June 30, March 31, December 31, September 30, June 30, 2014 2014 2013 2013 2013 Financial Statistics: Total reve
Slide 6: Where we are?
Where we are? • IRT seeks to acquire well-located, stable apartment properties in secondary and tertiary markets – IRT owned 19 apartment properties totaling 5,342 units in 11 states at June 30, 2014 – IRTcorporateoffice – Philadelphia,PA National Footprint (1) Geographic Diversity (by units) (1) Ap
Slide 7: IRT Portfolio
IRT Portfolio At June 30, 2014 Tresa at Arrowhead Centrepoint Belle Creek Crestmont Cumberland Glen Runaway Bay Phoenix, Arizona Tucson, Arizona Henderson, Colorado Marietta, Georgia Smyrna, Georgia Indianapolis, Indiana Copper Mill Heritage Trace Berkshire Square The Crossings King’s Landing The Re
Slide 8: Stable, Geographically Diversified Portfolio
Stable, Geographically Diversified Portfolio At June 30, 2014 ($ 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, Co
Slide 9: Disciplined Approach to Acquisitions
Disciplined Approach to Acquisitions 1 2 3 Markets Sourcing Assets • Focus on acquiring assets in • Source acquisitions through existing • Target Profile for Acquisitions supply constrained submarkets relationships and established – Mid-rise/garden style (150-500 units) channels with good amenities
Slide 10: Property Acquisition & Pipeline Update Since 6/30/2014
Property Acquisition & Pipeline Update Since 6/30/2014 • Since June 30, 2014, IRT has acquired 2 properties totaling 626 units for purchase prices aggregating approximately $52.2 million - 360 units in Memphis, TN for $27.9 million - 266 units in Raleigh, NC for $24.3 million • Propertyundercontract
Slide 11: 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 $5.3 billion of assets under management as of June 30, 2014 – RAIT’s IPO J–anuary 1998 • Scalable “in-house” commercial real estate platform with approxima
Slide 12: Strong Alignment of Interests Between Sponsor and Stockholders
Strong Alignment of Interests Between Sponsor and Stockholders • RAIT is the largest stockholder in IRT with 7.3 million shares or 28.2% of IRT’s outstanding common stock at August 20, 2014 • RAIT provides management and public company services to IRT • RAIT controls entities that advise and manage
Slide 13: Management Team
Management Team Scott F. Schaeffer Chairmanand CEO– IndependenceRealtyTrust, Inc.and Chairmanand CEO– RAITFinancial Trust CEO and ManagerIndependent – Realty Advisors, LLC Over 28 year career in real estate James J. Sebra CFOand Treasurer– IndependenceRealtyTrust, Inc. andCFOand Treasurer– RAITFinan
Slide 14: Attractive Dividend
Attractive Dividend Dividend Yield (1) (%) (1) Dividend yields based on share price as of 9/2/2014 and most recently declared quarterly dividend annualized, except for IRT, which is based on most recently declared monthly dividend annualized. 14
Slide 15: IRT Financial Highlights
IRT Financial Highlights ($ 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). (1) Represents a monthly dividend of $0.06 or $0.18 per quarter for Q1, Q2 & Q3. 15
Slide 16: Highlights
Highlights 1 Strong Momentum in the Business 2 Stable Portfolio in Supply-Constrained Markets 3 Disciplined Acquisition Strategy with Robust Pipeline 4 Strong Sponsorship and Alignment of Interest with IRT Stockholders 5 Attractive Dividend 16
Slide 17: Appendix
| fm Independence A Realty Trust Appendix
Slide 18: Income Statement
Income Statement At June 30, 2014 ($ in millions, except per unit data) For the Three-Month For the Six-Month Periods Ended June 30 Periods Ended June 30 2014 2013 2014 2013 REVENUE: Rental income ............................................................................... $ 10,613 $ 4,218 $ 17,9
Slide 19: Balance Sheet
Balance Sheet At June 30, 2014 ($ in millions, except per unit data) As of As of June 30, December 31, 2014 2013 ASSETS: Investments in real estate: Investments in real estate at cost ................................................................................................. $ 362,323 $ 190,09
Slide 20: Mortgage Indebtedness
Mortgage Indebtedness At June 30, 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%(2) January 1, 2021 Centrepoint
Slide 21: Non-GAAP Financial Measures: FFO and CFFO
Non-GAAP Financial Measures: FFO and (1)CFFO 21
Independence Realty Trust — Investor Presentation (September 2014) on 6ix