Plaza Retail Reit · TSX:PLZ.UN
Plaza Retail Reit — Investor Presentation (June 2023)
34 slides from Plaza Retail Reit's investor presentation, June 2023
Slide 1: 2023 Investor Presentation
2023 Investor 2022 Presentation ESG Report Creating value for our Creating value for our stakeholders stakeholders in overin 130over 130 Canadian communities. Canadian communities.
Slide 2: Forward Looking and Non-GAAP Disclaimers
Forward Looking and Non-GAAP Disclaimers NON-GAAP MEASURES Forward-looking information involves known and unknown risks, uncertainties and Plaza’s consolidated financial statements are prepared in accordance with other factors which may cause the actual results, performance or achievements of Intern
Slide 3: About Plaza Retail REIT
About Plaza Retail REIT • Plaza is an owner, developer and redeveloper of retail properties, PLAZA TODAY focused on long term sustainable growth. • Plaza has, over a 24 year history, consistently grown through development, redevelopment and value add acquisitions, and has 8.8 million sf successfully
Slide 4: About Plaza Retail REIT
About Plaza Retail REIT • Plaza offers a sustainable monthly distribution supported PLAZA TOMORROW by a portfolio of open air centres and stand-alone retail predominantly occupied by national tenants with a focus on stable, essential needs and value retail. IN CONSTRUCTION • Plaza features a geograp
Slide 5: About Plaza Retail REIT: Revenue by Retail Category
About Plaza Retail REIT Revenue by Retail Category % of Base Rents - as of March 31, 2023* *Excluding properties under development and non-consolidated properties 50% Grocery, Pharmacy, Liquor, Gas, Pet 11% Specialty Retail and Dollar Stores 11% Quick Service Restaurant (QSR) 7% Restaurants, Enterta
Slide 6: Portfolio Composition
Portfolio Composition as at March 31, 2023 *Excluding properties under development and non-consolidated investments 3.1% Enclosed 4.0% Local 4.3% Single 2.0% Non Retail QSR 96.9% Open 3.6% Regional Air Centres 90.4% National 22% Single Retail 70.6% Strip % of NOI % of Base Rent Plaza Retail REIT 202
Slide 7: Portfolio Composition
Portfolio Composition as at March 31, 2023 (% of base rent*) *Excluding properties under development and non-consolidated investments High Quality Portfolio Characterized by Necessity-based Tenant Roster Pharmacy 27.9% Value Retail 12.4% Grocery & Related 10.2% QSRs 10.6% Home Improvement Other Esse
Slide 8: Portfolio Composition
Portfolio Composition as at March 31, 2023* *Excluding properties under development and non-consolidated investments Top 10 tenants (% of base rent) #1 25.2% #6 3.4% #2 6.2% #7 3.0% #3 3.8% #8 1.8% #4 3.6% #9 1.6% #5 3.5% #10 1.6% Sub total 53.7% Plaza Retail REIT 2023 Investor Presentation 8
Slide 9: Portfolio Composition
Portfolio Composition Q1 2023 (% of NOI*) *Including properties under development, excluding non-consolidated investments GEOGRAPHY % OF NOI ATLANTIC 63% QUḖBEC 19% ONTARIO 17% WEST 1% TOTAL 100% Plaza Retail REIT 2023 Investor Presentation 9
Slide 10: Debt Profile
Debt Profile as at March 31, 2023 Debt to Assets 1., 2. 1. This is a non-GAAP measure. For more information, refer to the non-GAAP financial measures section herein, and in part I and VII of the MD&A for the period ended March 31, 2023. 2. Total debt includes mortgage bonds, mortgages payable, face
Slide 11: Debt Profile
Debt Profile as at March 31, 2023 Long-Term Mortgage Maturities Debt to Assets - including land leases Plaza Retail REIT 2023 Investor Presentation 11
Slide 12: Committed Occupancy
Committed Occupancy as at March 31, 2023* *Excluding properties under development. Plaza Retail REIT 2023 Investor Presentation 12
Slide 13: Attractive Entry Point
Attractive Entry Point FFO Multiple Plaza Retail REIT is undervalued relative to its peers, as evidenced by the FFO multiple FFO multiples are based on RBC Capital Markets estimated 2023 FFO, and closing unit prices, as at June 12, 2023. Plaza Retail REIT 2023 Investor Presentation 13
Slide 14: Attractive Distribution Yield
Attractive Distribution Yield Distribution Yield & FFO Payout Ratios Plaza Retail REIT offers investors an attractive and sustainable yield. Plaza also maintained its distribution during the Covid-19 pandemic FFO payout ratios are based on RBC Capital Markets estimated 2023 FFO as at June 12, 2023.
Slide 15: Hypothetical Development
Hypothetical Development $000s Cost of Development $50,000 $50,000 $50,000 Unlevered yield 7.00% 8.00% 9.00% Cap rate upon completion 6.00% 6.50% 7.00% Long term debt @ 65% LTV ($37,917) ($40,000) ($41,786) Equity Investment $12,083 $10,000 $8,214 NOI upon Completion $3,500 $4,000 $4,500 Debt servic
Slide 16: Investment Highlights
Investment Highlights High Quality Portfolio Characterized by 1 Necessity-based Tenant Roster TICKER (TSX) PLZ.UN • 2022 — 39% Attractive Financial Profile Characterized by Tax deferred distribution • 2021 — 25% 2 • 2020 — 68% Growth and Resilience Monthly Distribution $0.28 annualized Track Record
Slide 17: ESG Highlights
ESG Highlights Inaugural ESG report issued in 2023; view here. ENVIRONMENTAL • 44 LED retrofits completed to date with estimated savings of over 1,670,000 KwH per year. • Redevelopments allow us to reuse and re-purpose building materials and site works, which can lead to reductions in carbon emissio
Slide 18: Featured Projects
Featured Projects
Slide 19: Northern Avenue Plaza, Sault Ste. Marie, ON
Northern Avenue Plaza, Sault Ste. Marie, ON BEFORE AFTER Vacant big-box Princess Auto, Winners & Dollarama Plaza Retail REIT 2023 Investor Presentation 19
Slide 20: Huron Church Plaza, Windsor, ON
Huron Church Plaza, Windsor, ON BEFORE AFTER Vacant mid-box A&W & Retail Strip Plaza Retail REIT 2023 Investor Presentation 20
Slide 21: Tri City Centre, Cambridge, ON
Tri City Centre, Cambridge, ON BEFORE AFTER Functionally-obsolete mid-box Free-standing Wendy’s and Dollarama-anchored strip Plaza Retail REIT 2023 Investor Presentation 21
Slide 22: Taunton Road Plaza, Oshawa, ON
Taunton Road Plaza, Oshawa, ON UNDER CONSTRUCTION Grocery-anchored strip Plaza Retail REIT 2023 Investor Presentation 22
Slide 23: Thousand Islands Plaza, Brockville, ON
Thousand Islands Plaza, Brockville, ON BEFORE AFTER Small vacancies with mothballed space behind them New mid-box that absorbed mothballed space Plaza Retail REIT 2023 Investor Presentation 23
Slide 24: Les Promenades du Cuivre, Rouyn-Noranda, QC
Les Promenades du Cuivre, Rouyn-Noranda, QC BEFORE AFTER Functionally-challenged retail space Newly-opened Winners & expanded Sports Experts Plaza Retail REIT 2023 Investor Presentation 24
Slide 25: Plaza des Laurentides, Saint Jérôme, QC
Plaza des Laurentides, Saint Jérôme, QC NEW DEVELOPMENT New Village des valeurs and The Brick Plaza Retail REIT 2023 Investor Presentation 25
Slide 26: Plaza Saint-Jude, Granby, QC
Plaza Saint-Jude, Granby, QC NEW DEVELOPMENT New Winners under construction Plaza Retail REIT 2023 Investor Presentation 26
Slide 27: Plaza de l'Ouest, Sherbrooke, QC
Plaza de l’Ouest, Sherbrooke, QC UNDER CONSTRUCTION AFTER Opportunity for added retail density New pet store Plaza Retail REIT 2023 Investor Presentation 27
Slide 28: L'Axe, Chicoutimi, QC
L’Axe, Chicoutimi, QC NEW DEVELOPMENT AFTER Vacant land before development Princess Auto, Dollarama and SAQ Plaza Retail REIT 2023 Investor Presentation 28
Slide 29: Dieppe Boulevard Plaza, Dieppe, NB
Dieppe Boulevard Plaza, Dieppe, NB ±2889" (73,38m) ±918" ±996" ±620" C D A ±157" ±9" B ±122" ±29" ±3658" (92,91m) ±42" ±312" (7,92m) CLEARANCE: CLEARANCE: CLEARANCE: CLEARANCE: PROPOSED EAST ELEVATION SCALE: 1/16" = 1’-0” ±159" (4,03m) ±104" (2,64m) ±222" (5,63m) ±149" (3,78m) FOR CITY ONLY FOR CITY
Slide 30: Gibson Boulevard Plaza, Stewiacke, NS
Gibson Boulevard Plaza, Stewiacke, NS UNDER CONSTRUCTION New development anchored by Foodland (Sobeys) Plaza Retail REIT 2023 Investor Presentation 30
Slide 31: Bedford Commons, Bedford, NS
Bedford Commons, Bedford, NS REDEVELOPMENT REDEVELOPMENT New Mark’s absorbed multiple smaller units Winners expansion to include HomeSense Plaza Retail REIT 2023 Investor Presentation 31
Slide 32: Hogan Court Plaza, Bedford, NS
Hogan Court Plaza, Bedford, NS NEW DEVELOPMENT AFTER During Construction New strip and Popeye’s pad Plaza Retail REIT 2023 Investor Presentation 32
Slide 33: The Shoppes at Galway, St. John's, NL
The Shoppes at Galway, St. John’s, NL NEW DEVELOPMENT NEW DEVELOPMENT A&W under construction Mark’s under construction Plaza Retail REIT 2023 Investor Presentation 33
Slide 34: Contact info@plaza.ca
plaza REIT Contact info@plaza.ca
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