Modiv Industrial, Inc. · NYSE:MDV
Modiv Industrial — Modiv — Q3 2021 Earnings Presentation
21 slides from Modiv Industrial's earnings presentation, Dec 3, 2021
Slide 1: Investor Presentation Q3 2021
INVESTOR PRESENTATIONQ3 2021
Slide 2: Disclaimer and Forward-Looking Statements
These materials are provided for informational purposes only, and under no circumstances may any information contained herein be construed as investment advice or as an offer to sell or a solicitation of an offer to buy an interest in any Modiv program or offering. Alternative investments, such as a
Slide 3: Executive Summary: Strategic plan execution supports pursuing a listing in early 2022
Strategic plan execution offers confidence to pursue a listing in early 2022. On November 2, Modiv’s board of directors approved an intent to list its Class C common stock on a national stock exchange in early 2022, subject to market conditions1 In preparation for this planned listing, the board of
Slide 4: Modiv by the Numbers
Modiv owns and manages a single-tenant net-lease portfolio backed by high-credit tenants. MODIV BY THE NUMBERSAs of September 30, 2021 38commercial properties 13retail 14office 11industrial $500+ million of assets 7,300+investors 2.2 millionSF of leasable space 69% ABRfrom investment grade rated ten
Slide 5: Investments Overview
INVESTMENTS OVERVIEW
Slide 6: Real Estate Highlights
REAL ESTATE HIGHLIGHTS Properties 38 Square Footage (msf) 2.2 Total Tenants 31 Annualized Base Rent ($m) $28.8 Top Ten Tenants (% of ABR) 56% Tenant Industries 14 Occupancy (%) 100% Cash Rent Collection (% of ABR) 100% Investment Grade Rated (% of ABR) 70% Contractual Rent Bumps (% of ABR) 88% Avera
Slide 7: Key Portfolio Metrics
KEY PORTFOLIO METRICS Top 5 Tenantsby Annual Base Rent 8.7% (S&P A) 7.7% (NR) 7.7% (S&P A+) 5.3% (S&P AA-) 5.5% (NR) As of September 30, 2021 (unless otherwise noted)Lease Duration1 Industry BreakdownWeighted Average Lease Duration: 5.6 Years Excludes leasing activity executed subsequent to quarter
Slide 8: Recent Real Estate Activity
RECENT REAL ESTATE ACTIVITY 7-year lease renewal L3 Carlsbad, CA Acquisition - pending Walgreens Portfolio Nationwide Asset sale - pending Texas Health Dallas, TX 12-year lease renewal 3M DeKalb, IL LeasingSubsequent to quarter-end, executed a 12-year lease renewal with 3M Company for its global dis
Slide 9: Q3 Earnings
Q3 EARNINGS We continue to see strong performance from our operating portfolio and benefit from portfolio asset management initiatives and recent re-financing activity at more favorable rates. Raymond PaciniChief Financial Officer 3Q quarter-end earnings above prior year due to: Reduced share count
Slide 10: Quarterly Estimated NAV
QUARTERLY ESTIMATED NAV Estimated per share NAVs reflect the 1:3 reverse stock split effective Feb. 1, 2021.1. As of 9/30/2021. Cushman and Wakefield independent appraisal. Please refer to 8K filing with the SEC dated November 5, 2021. $27.291Estimated NAV per share As of September 30, 2021 18.5%Inc
Slide 11: Investment Overview
INVESTMENT OVERVIEW As of September 30, 2021 Share Price (NAV) $27.29 Dividend1 $1.15/share Annualized Distribution Rate1 4.2% Shares Outstanding 8.7 mm Distributions Paid Since Inception1 $39.8 mm 1. There is no guarantee that distributions will be paid. 11
Slide 12: Quarterly Commentary
QUARTERLY COMMENTARY
Slide 13: Market & Portfolio Outlook
We have been active on the portfolio front, renewing long-term leases with two significant tenants and actively recycling assets. We continue to focus on extending lease terms and reducing exposure to office properties. MARKET & PORTFOLIO OUTLOOK Market OutlookThere remains a surplus of capital on t
Slide 14: Modiv Quarterly Update
Execution on our strategic plan, coupled with a strong operating environment within the commercial real estate and equity capital markets, has enabled us an opportunity to pursue a listing of our common shares. MODIV QUARTERLY UPDATE 1. There can be no assurances that these transactions will be comp
Slide 15: Appendix
APPENDIX
Slide 16: Executive Team
EXECUTIVE TEAM Seasoned Management Team― 23 years average real estate experience― Participated in $25B+ of real estate M&A― Taken several companies public― Expertise in capital markets and investor communicationsImproved Alignment Following 2019 Internalization― Elimination of onerous fees and confl
Slide 17: Investments
INVESTMENTSAs of September 30, 2021 Property City, State Product Type Sq.Ft. Investment Grade1 Purchase Date 3M DeKalb, IL Industrial 410,400 Y 3/29/2018 Accredo Health Orlando, FL Office 63,000 Y 6/15/2016 Amec Foster Wheeler San Diego, CA Industrial 37,449 N 7/20/2016 AvAir Chandler, AZ Industrial
Slide 18: Investments (Cont'd)
INVESTMENTS (CONT’D)As of September 30, 2021 1. Investment grade rating on long-term debt is determined by a nationally recognized statistical rating agency. Property City, State Product Type Sq.Ft. Investment Grade1 Purchase Date Gap Rocklin, CA Office 40,110 N 12/1/2016 GSA - Mine Safety & Health
Slide 19: Frequently Asked Questions
FREQUENTLY ASKED QUESTIONS Why is the Company pursuing a listing of its Class C common shares?The board of directors has decided to pursue the listing of Modiv’s Class C common shares on a national stock exchange because it believes a listing is in the best interest of the Company and its stockholde
Slide 20: Frequently Asked Questions cont.
FREQUENTLY ASKED QUESTIONS cont. Can an investor purchase more shares prior to the listing?After November 24, 2021, we are no longer accepting additional investments into Modiv’s Class C shares through ourcrowdfunding offering, except through our Distribution Reinvestment Plan (“DRP”), and our Regul
Slide 21: www.modiv.com
www.modiv.com | 888.686.6348120 Newport Center Drive | Newport Beach, CA 92660