Apartment Income REIT — NAREIT Presentation June 2021
12 slides from Apartment Income REIT's conference presentation, June 2021
Slide 1: NAREIT Presentation June 2021
Ocean House on Prospect La Jolla, CA NAREIT Presentation 53 Apartment Homes JUNE 2021 Apartment Income REIT Corp. (NYSE: AIRC) The most efficient and most effective way to allocate capital to multi‐family real estate. 1
Slide 2: AIR is an efficient way to invest in U.S. multi-family real estate
AIR is an efficient way to invest in U.S. multi-family real estate 1. Simple business model without complex investments or uncertain developments resulting in minimal execution risk 2. High-quality and diversified portfolio of stabilized multi-family properties 3. Best-in-class property operations
Slide 3: Simplified Business Model Driven by Best-In-Class Operations
Simplified Business Model Driven by Best-In-Class Operations Best-in-Class Operations as Proven by: Simplified Business Model: • World class measured customer service, 4.3 out of 5 stars as of • 96% of 1Q21 revenue comes from our May 31, 2021 Same Store portfolio Same Store Sales • High customer ret
Slide 4: Simplified Business Model Driven by Best-In-Class Operations
Simplified Business Model Driven by Best-In-Class Operations Coastal peer leading NOI performance during COVID pandemic Same-Store NOI Performance since the start of the COVID pandemic in 2Q 2020(1) AIRC UDR AVB ESS EQR (7.25%) (7.33%) (10.53%) (10.80%) (10.85%) Peer leading NOI margin(2) Same Store
Slide 5: High-quality and diversified portfolio located in markets where rents have largely recovered
High-quality and diversified portfolio located in markets where rents have largely recovered to pre-COVID levels We expect to reallocate capital from markets with stagnant demand, high taxes, and uncertain rule of law to markets with growing populations, low taxes, and less political risk. With abun
Slide 6: Strong and Flexible Balance Sheet
Strong and Flexible Balance Sheet Operate at Low Cost of Leverage 3.8% 3.6% 3.4% 3.3% 3.2% 2.9% 2.8% EQR CPT MAA AVB ESS AIRC UDR Low Weighted Average Cost of Debt(1) • In April, we closed a new $1.4 billion credit facility lowering 2021 interest expense expectation by $2.5 million and increasing FF
Slide 7: AIR benefits from a cohesive, long-tenured management team
AIR benefits from a cohesive, long-tenured management team and a culture that promotes integrity, collaboration, and innovation. AIR Senior Leadership Team: • Is stable, having spent the last 13 years working together Director & Chief Executive President and General Counsel President, Property Opera
Slide 8: Intentional focus on ESG; reporting in accordance with GRESB
Intentional focus on ESG; reporting in accordance with Global Real Estate Sustainability Benchmark (GRESB). Environmental • We have made substantial investments to change our energy sources while installing energy efficient appliances, fixtures, and lighting. • We have invested nearly $16.7 million
Slide 9: AIR business has largely recovered from the COVID pandemic
AIR business has largely recovered from the COVID pandemic and the related government response. We view the recovery as occurring in five phases: 1) Bottoming of Occupancy On the second quarter 2020 earnings call, we stated our expectation that occupancy would bottom in August. This occurred. 2) Rec
Slide 10: Peak Leasing Update: Lease pace continues to accelerate
PEAK LEASING UPDATE Lease pace continues to accelerate, and rate continues to strengthen Net Applications per Day Signed Blended Lease Rates Net application pace increased 22% from March to April, and The blend of signed New and Renewal rent increases improved in another 31% from April to May. May w
Slide 11: Looking forward, by year-end we expect…
Looking forward, by year-end we expect… In Property Operations: • Over the longer term, Same Store average rents have increased ~3.3% annually. During the past 12 months due to the pandemic and related government responses, rents fell below this pace. During 2021, asking rents are rising again and a
Slide 12: Forward-looking Statements/ Non GAAP Measures
Forward-looking Statements/ Non GAAP Measures This presentation contains forward-looking statements within the meaning of the federal securities laws, including, without limitation, statements regarding projected results and specifically forecasts of 2021 results, including but not limited to: Pro f
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