Parkit Enterprise Inc. · TSXV:PKT
Parkit Enterprise — Investor Presentation (November 2015)
17 slides from Parkit Enterprise's investor presentation, November 2015
Slide 1: Corporate Presentation
CORPORATE PRESENTATION November 2015 TSX.V: PKT OTCQX: PKTEF 1
Slide 2: Disclaimer
DISCLAIMER This presentation and the information contained herein, (“Presentation”) is being issued by Parkit Enterprise Inc. (the “Company”) for information purposes only. This Presentation is not for release, distribution or publication into or in the United States or any other jurisdiction where
Slide 3: Executive Overview
EXECUTIVE OVERVIEW Parkit is engaged in the acquisition, optimization, and asset management of parking facilities across the United States Transformative joint venture $12.9m Market Capitalization $500 million joint venture with Och-Ziff Real Estate achieves: • Diversified equity earnings from asset
Slide 4: Parkit Income Streams
PARKIT INCOME STREAMS Equity Partner PRE (Propark Executives) Och-Ziff Real Estate Investors and co- asset managers Other Opportunities Direct investments outside the JV Additional fund platforms Joint Venture Target of $500 million in acquisition value (Up to 70% leverage) Parkit receives: ü Earnin
Slide 5: US Parking Overview
US PARKING OVERVIEW Recession resistant industry with increasing demand and prices • Outsourcing trends and service expansion • Value opportunities as cap rates lag other ‘core’ real estate sectors • Yield enhancement through operational expertise • Considerable ‘off-market’ deal flow • Opportunisti
Slide 6: Investment Strategy
INVESTMENT STRATEGY Investment targets • Parking facilities that service airports, hospitals, university, stadiums, and courthouses Acquire at ~7% • Opportunistic investments within Propark’s strategic footprint capitalization rate • Off-market properties where assets are not yet listed Optimize yie
Slide 7: Joint Venture: Initial Portfolio
JOINT VENTURE: INITIAL PORTFOLIO Initial joint venture: Six assets, USD $82.6 million • Portfolio includes acquisitions of Parkit’s Canopy and Expresso facilities for $38.0 million and $19.2 million, respectively • 22% initial equity position within the joint venture, with $6.2 million invested • Pa
Slide 8: Joint Venture: Moving Forward
JOINT VENTURE: MOVING FORWARD The joint venture will seek to deploy its resources within a three to five year period, optimizing assets and pursuing opportunistic sale of portfolio • Parkit will provide 5% of future acquisition equity • Minimal cash commitments to fulfill JV’s growth obligations Ear
Slide 9: Parkit Contributions
PARKIT CONTRIBUTIONS Canopy Airport Parking Facility (Denver, CO) • Services Denver International Airport • Developed by Parkit for $19m in 2010 • Fiscal 2014 revenue of $9.1m • Fiscal 2014 NOI of $3.3m CANOPY • Sold into joint venture for $38m, inclusive of earn-out Expresso Airport Parking (San Le
Slide 10: Summary: Initial JV Portfolio
INITIAL JV PORTFOLIO CONNECTICUT Z PARKING East Granby CALIFORNIA Off-Airport EXPRESSO San Leandro Off-Airport RICCIO LOT New Haven University & Medical Facility CHAPEL SQUARE New Haven Commercial District COLORADO CANOPY Denver Off-Airport FLORIDA TERRA PARK Jacksonville Commercial District SUMMARY
Slide 11: Och-Ziff: Joint Venture Partner
OCH-ZIFF: JOINT VENTURE PARTNER Och-Ziff Real Estate: Division of a global institutional asset manager • Nearly $50 billion in assets under management as of April 2015 • Based in New York City, with offices in London, Hong Kong, Mumbai, Shanghai, Beijing, and Dubai • Significant alternative real est
Slide 12: Propark: Operating Partner
PROPARK: OPERATING PARTNER Leading private owner/operator • America’s 8th largest independent parking contractor, founded in 1984 • More than 2,000 employees • Clients include Google, Citibank, and Harvard University • Optimizes cash flow via technology and best-practices • Operates all six assets i
Slide 13: Direct Investments
DIRECT INVESTMENTS There are multiple factors that might make a property better suited for acquisition outside of the joint venture: • Size Size • Geography • Flexibility and Timing (enables greater direct ownership) • Portfolio considerations TSX.V: PKT OTCQX: PKTEF 13
Slide 14: Dynamic Leadership
DYNAMIC LEADERSHIP RICK BAXTER Chief Executive Officer and Director Mr. Baxter is an entrepreneur and strategic business leader with over 25 years of experience in aviation and transportation. He was CEO of West Coast Air, a commuter floatplane service, and led the company’s growth to 20 aircraft an
Slide 15: Three Sources of Value
THREE SOURCES OF VALUE JOINT VENTURE INVESTMENTS Cash distributions and capital gains generated from assets owned within joint venture partnerships FEES AND INCENTIVE PROMOTE JV asset management agreements provide for a leveraged return on portfolio investments DIRECT INVESTMENTS Parkit’s ownership
Slide 16: Share Structure
SHARE STRUCTURE Shares Outstanding 32.2 million Share Price $0.40 Market Capitalization $12.9 million 3.9 Million at $0.50 (March & May 2016) Warrants 1.6 Million at $0.60 (June 2016) Options 2.5 Million at $0.50 Fully Diluted Shares Outstanding 40.2 million Additional Cash on Exercise $4.0 million
Slide 17: Contact
1088 – 999 WEST HASTINGS STREET | VANCOUVER, BC V6C 2W2 604.424.8700 | info@parkitenterprise.com www.parkitenterprise.com TSX.V: PKT OTCQX: PKTEF 17
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