W. P. Carey Inc. Reit · NYSE:WPC
W. P. Carey Inc. Reit — W. P. Carey — Corporate Update (October 2020)
10 slides from W. P. Carey Inc. Reit's corporate update, Oct 1, 2020
Slide 1: COVID-19 Update
Exhibit 99.1 COVID-19 Update October 1, 2020 Investing for the long run®
Slide 2: September Rent Payment Status
September Rent Payment Status WPC has collected 99% of September rent due Total September Rent Due Property Type 1% % % of September rent of total ABR due and paid (1) Industrial 24% 99% Warehouse 22% 100% Office 23% 100% Retail 17% 100% Fitness, Theater and Restaurants 2% 72% Self Storage (net leas
Slide 3: August Rent Payment Status
August Rent Payment Status WPC has collected 98% of August rent due Total August Rent Due Property Type 1% 1% % % of August rent of total ABR due and paid (1) Industrial 24% 100% (2) Warehouse 22% 93% Office 23% 100% Retail 17% 100% Fitness, Theater and Restaurants 2% 78% Self Storage (net lease) 5%
Slide 4: July Rent Payment Status
July Rent Payment Status WPC has collected 99% of July rent due Total July Rent Due Property Type 0.5% 1% % % of July rent of total ABR due and paid (1) Industrial 24% 99% Warehouse 22% 99% Office 23% 100% Retail 17% 100% Fitness, Theater and Restaurants 2% 65% Self Storage (net lease) 5% 100% Other
Slide 5: 2Q20 Rent Payment Status
2Q20 Rent Payment Status WPC collected 97% of rent due in the second quarter Total Rent Due 2Q20 Property Type 2%1% % % of 2Q20 rent of total ABR due and paid (2) Industrial 24% 98% Warehouse 22% 95% Office 23% 100% Retail 17% 98% Fitness, Theater and Restaurants 2% 41% Self Storage (net lease) 5% 1
Slide 6: Diversified Portfolio
Diversified Portfolio WPC has a diversified portfolio, limited retail exposure and primarily large tenants W. P. Carey by Property Type Tenant Size by Revenue (1) 1% 2% 5% 5% 2% 3% 2% 12% 24% 21% 9% 17% 22% 23% 53% 97% of ABR from 21% tenants with revenue Retail, Lodging and Leisure >$100MM and % Go
Slide 7: Liquidity and Debt Maturities
Liquidity and Debt Maturities (1) • Upsized revolver in 2020 to $1.8B and added Estimated Liquidity ($MM) ~$300MM in term loans $2.2B of • ~$1.8B of availability under credit facility Revolver $1,800 • $137MM of cash and cash equivalents on hand Liquidity Drawn ($22) • $269MM (~4.0MM shares) availab
Slide 8: Balance Sheet and Leverage
Balance Sheet and Leverage Capitalization and Leverage • Large, well-capitalized balance $18B sheet $12B (1) Enterprise value • Investment grade rated BBB by Equity Market Cap (2) S&P and Baa2 by Moody’s 26% 6.0x • Approximately $1.2B of equity 65% Net Debt to EBITDA 41% Debt / 9% raised since Q4 20
Slide 9: Cautionary Statement Concerning Forward-Looking Statements
Cautionary Statement Concerning Forward-Looking Statements Certain of the matters discussed in this communication constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 19
Slide 10: Disclosures
Disclosures The following non-GAAP financial measures are used in this presentation: EBITDA and Adjusted EBITDA We believe that EBITDA is a useful supplemental measure to investors and analysts for assessing the performance of our business segments because (i) it removes the impact of our capital st