American Strategic Investment Co. · NYSE:NYC
American Strategic Investment — New York City REIT — Q2 2019 Earnings Presentation
13 slides from American Strategic Investment's earnings presentation, Sep 6, 2019
Slide 1: New York City REIT 2nd Quarter 2019 Investor Presentation
NEW YORK CITY REIT 2 nd Quarter 2019 Investor Presentation
Slide 2: NYCR Highlights
2 NYCR Highlights x Increased portfolio occupancy from 89.8% to 94.7% year - over - year x 9 Times Square lease - up has been extremely successful with occupancy materially increasing from 74.4% in Q2 2018 to 92.3% in Q2 2019 x Includes commencement of LW Hospitality, Control Point Associates and Kn
Slide 3: Q2 2019 Leasing Activity
3 Q2 2019 Leasing Activity Property Rentable SF 6/30/2018 Occupancy 6/30/2019 Occupancy Occupied SF Increase / (Decrease) Increased Occupancy 123 William Street 543k SF 95% 98% 16k SF x 1140 Avenue of the Americas 242k SF 89% 91% 6k SF x 9 Times Square 167k SF 74% 92% 30k SF x Other Properties (3 Pr
Slide 4: Key Initiatives: NYCR Continues to Execute its Investment Strategy
4 Key Initiatives 1) We define net leverage as total mortgage notes payable, gross less cash and cash equivalents divided by total real estate inv est ments at cost as of June 30, 2019. Subsequent to June 30, 2019, we increased our borrowings by an additional $51.0 million in connection with the acq
Slide 5: NYCR bullish on long-term fundamentals in Manhattan office market
5 NYCR continues to be bullish on the long - term fundamentals in the New York City real estate market, particularly in the Manhattan office market New York City Market Trends Manhattan Overall Net Absorption/Asking Rents (2) NYC population is forecasted to reach 8.8mm people in 2030 Overall Vacancy
Slide 6: Portfolio Overview (as of June 30, 2019)
6 Portfolio Overview (as of June 30, 2019) 1) Data as of 6/30/2019. 2) Remaining lease term in years as of 6/30/2019, calculated on a weighted - average basis. 3) Mortgage notes payable, gross as of 6/30/2019. 4) In April 2019, NYCR entered into a term loan agreement with Capital One for a $55.0 mil
Slide 7: Balance Sheet and Distribution Update
7 Balance Sheet and Distribution Update $ amounts in 000’s 1) Other Assets includes accumulated depreciation partially offset by, among other items, restricted cash as of 6/30/2019 in the am ount of $ 6.29 M. 2) We define net leverage as total mortgage notes payable, gross less cash and cash equival
Slide 8: Management Team
8 Management Team Katie Kurtz Chief Financial Officer and Treasurer ▪ Previously served as chief accounting officer at Carlyle GMS Finance, Inc., The Carlyle Group’s business development company, Director of Finance and Controller for New Mountain Finance Corporation, and Controller at Solar Capital
Slide 9: Supplemental Information
9 Supplemental Information On March 13 , 2019 , the Company filed an amendment to its charter changing its name from American Realty Capital New York City REIT, Inc . to New York City REIT, Inc . On April 26 , 2019 , the Company, entered into a term loan agreement with Capital One, National Associat
Slide 10: Reconciliation of Non-GAAP Metrics: NOI
10 Reconciliation of Non - GAAP Metrics: NOI Net Operating Income (NOI) Reconciliation Schedule (in thousands) Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Net Loss (in accordance with GAAP) $ (5,827) $ (6,529) Other income (311) (64) General & Administrative 1,862 2,540 Asset a
Slide 11: Important Information
11 Important Information Risk Factors For a discussion of the risks which should be considered in connection with our company, see the section entitled “Item 1 A . Risk Factors” in New York City REIT, Inc . ’s (the “Company” or “NYCR”) Annual Report on Form 10 - K filed with the U . S . Securities a
Slide 12: Risk Factors
12 Risk Factors There are risks associated with an investment in our Company . The following is a summary of some of these risks . For a discussion of the risks which should be considered in connection with our Company, see the section entitled “Item 1 A . Risk Factors” in the Company’s Annual Repor
Slide 13: ▪ For account information, including balances and the status of submitted paperwork, please call
13 ▪ For account information, including balances and the status of submitted paperwork, please call us at (866) 902 - 0063 ▪ Financial Advisors may view client accounts, statements and tax forms at www.dstvision.com ▪ Shareholders may access their accounts at www.ar - global.com NewYorkCityREIT.com