Inventrust Properties Corp. · NYSE:IVT
Inventrust Properties — Inland American Real Estate Trust — Q2 2011 Earnings Presentation
25 slides from Inventrust Properties's earnings presentation, Sep 8, 2011
Slide 1: 2nd Quarter 2011 Financial Update
2.4 Quarter 2011 Financial Update Inland American Je REAL ESTATE TRUST, INC &
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation may contain forwarc-looking statements. Forwarc-looking statements are statements that are not historical, including statements regarding managements intentions, beliefs, expectations, representations, plans or precictions of the fulure, and aretypicaly i
Slide 3: Inland American Real Estate Trust - Who are we?
Inland American Real Estate Trust - Who are we? * Our diversified portfolio generates predictable monthly distributions to over 185,000 stockholders * Our Goals: 1. Maximizing long-term stockholder value 2. Capitalizing on acquisition & disposition opportunities in a variety of asset classes 3. Main
Slide 4: Inland American Real Estate Trust - Our Portfolio
Inland American Real Estate Trust- Our Portfolio * Diversified portfolio of quality commercial real estate * Portfolio mitigates sector risk + Wide range of asset types + Retail * Lodging * Apartments * Office * Industrial / Distribution * As of 06/30/20 * 981 properties * 48.4 million square feet o
Slide 5: Acquisition Highlights
201 Acquisition Highlights Retail - White Oak Shopping Center, Garner, NC Lodging - Napa Valley Marriott Retail - Sparks Crossing, Sparks, NV Lod ging - Fairmont Dallas
Slide 6: Funding for Acquisitions
Funding for Acquisitions ¢ Dividend Reinvestment Program (DRP) * Property sales * Financing + Adding debt to unencumbered assets + New debt
Slide 7: Portfolio Diversification - Balances Risk Exposure
Portfolio Diversification - Balances Risk Exposure Investment Allocation - $12.8B Core Assets — 86% Retail — 38% Lodging — 26% Office - 18% Ind / Dist - 10% Multi-Family -8% Development Marketable ~ . 39% Socrriacs Cash & Other Joint Ventures = Assets . 4% 2% 5% Based onundepreciated values (total i
Slide 8: Geographic Diversification - Balances Risk Exposure
Geographic Diversification - Balances Risk Exposure 38 States + Washington D.C. Less than 1 MSF +1-5 MSF Texas’ economy has performed well during the recession and recovery
Slide 9: Tenant Mix & Stability
Tenant Mix & Stability % of Total Annualized % Tenant Name Rating* Type Income Tota SF SunTrust Banks BBB+ Retail/Office 8.6% 4.0% AT&T, Inc. A- Office 6.9% 6.0% Citizens Banks A- Retail 3.2% 1.7% Sanofi-Aventis AA- Office 2.6% 1.3% United Healthcare Services, Inc. NR Office 2.5% 2.1% C&S Wholesale
Slide 10: Retail Portfolio Structure & Performance
Retail Portfolio Structure & Performance Largest asset class, 38% of core assets 736 Properties 22.0 M square feet 93% Occupancy, stable compared to prior year 73% of portfolio is necessity based Revenue grew 11%, over YTD ‘10 Multi-Family Ind/Dist
Slide 11: Retail — Low Lease Expiration
Retail — Low Lease Expiration 40% 30% 20% 10.0% 12.0% 10% Ur 6.3% Lal Zs. ‘oO eae 2011 2012 2013 2015 Anchor Tenants =| == STAPtes & & YTD 20H leasing activity has surpassed same period in 2010 aN
Slide 12: Retail — New Acquisitions
Retail — New Acquisitions Retail - White Oak Shopping Center, Garner, NC Retail - Sparks Crossing, Sparks, NV + Purchased 8/3/l + Purchased 3/21/11 + $95 million + $38.6million + 549,000square feet + 336,000square feet + High quality tenants (BP's Wholesale, Kohl’, + High quality tenants (BestBuy, M
Slide 13: Lodging Portfolio Structure
Lodging Portfolio Structure * 2nd largest asset class, 26% of core assets * 54% of the portfolio is branded by Marriott, 38% by Hilton * 16% of the portfolio is Full Service @ Luxury hotels * 71% average occupancy vs. 62% U.S. average* fulti-Family Ind/Dist a) Marriott @® Hilton *Source Smith Travel
Slide 14: Lodging — RevPAR (Revenue per Available Room)
Lodging — RevPAR (Revenue per Available Room) $100 + $89 A $90 -- $79 $84 ye 76 $78 $80 ~ $ s70 eos . ae $54 $20 - $60 + pl $50 $40 -— , : : ' a 2007 2008 2009 2010 YTD 2011 US. RevPAR — m Inland American RevPAR Rev PAR is a performance metric, which is calculated by multiplying a hotel's average da
Slide 15: Lodging — New Acquisitions
Lodging — New Acquisitions Lodging - Napa Valley Marriott Lod ging - Fairmont Dallas + Purchased 8/26/11 + Purchased 8/1/11 + $72 million or $261K akey + $69 million or $127K akey + 275-room hotel + 545-room hotel + 93-acresite with full spa + 70,000 square feet of meeting space + 11,000square feet
Slide 16: Office Portfolio Structure & Performance
Office Portfolio Structure & Performance + 3 largest asset class, 18% of core assets * 92% Occupied * 65% of portfolio is categorized as high credit * 47 Properties IDS- Minneapolis * 10.6M square feet Ind/Dist Lodging SBC — St. Louis
Slide 17: Office - Low Lease Expiration
Office - Low Lease Expiration 40% 30% 20% OL. 0; We ie 4.0% 5% 3.6% 4.0% 0% 0.4% lal ll | | 2011 2012 2013 2014 2015 ZF comcast. ime aime SS] atat Majority of portfolio is NNN tenants
Slide 18: Industrial / Distribution Portfolio Structure
Industrial / Distribution Portfolio Structure 4% largest asset class, 10% of core assets 49% of portfolio is categorized as high credit 72 Properties 15.8 M square feet Ind/Dist Distribution Facility in Memphis . itt is! ; : $LIB = 90% Occupied 10% Multi-Family Lodging Home Depot Rapid Deployment Ce
Slide 19: Industrial / Distribution — Low Lease Expiration
Industrial / Distribution — Low Lease Expiration 40% 30% 20% 10% z a saa 47% Oe pich el 0.2% — 2011 2012 2013 2014 2015 Major Tenants Thermo Versafold ELECTRON CORPORATION WAREHOUSE AND DISTRIBUTION SERVICES Approximately IM sq ft has already been renewed in 2012
Slide 20: Multi-Family Portfolio Structure
Multi-Family Portfolio Structure * 8%ofcore assets * 27Properties — 9,790 Units + Average age of properties is 7.9 years * 92% occupied up 5% over YTD °10 Multi-Family $899M * Same store revenue up 9% over YTD ‘10 8% Ind/Dist Lodging
Slide 21: Selected Financial Results
Selected Financial Results Total consolidated assets Total cash Annualized distribution rate* Mortgage payable Ratio of total mortgage loans to total assets Weighted average interest rate (per annum) Total Distributions Since Inception = $1.7 Billion For the six months ended Year Ended 06/30/2011 12
Slide 22: YTD 2011 Total Revenue Up 13%
YTD 2011 Total Revenue Up 13% YTD 2011 Revenue Multi-Family Ind/Dist $51M $47M a YTD 2010 Revenue Multi Family Ind/Dist_ $42M $45M a Total Revenue $673M Total Revenue $595M
Slide 23: Manageable Debt Maturities
Manageable Debt Maturities $3,000 aE li Fixed ts Variable 2,500 $2,000 $1,500 $1,018M 1,000 $ $705M $500 $302M Lal $304M $460M > = | 200 2012 2013 2014 2015 Percentage of Total Assets 2.7% 6.3% 9.1% 2.7% 4.1%
Slide 24: Key Takeaways for Today
Key Takeaways for Today * Our diversity provides us opportunities * We reported solid, improving results * Our occupancy rates are strong * We have manageable lease rollover rates * New acquisitions, redeploying capital * Lodging and Multi-Family performed above expectations YTD and will be a driver
Slide 25: Inland American
Inland American Je REAL ESTATE TRUST, INC &
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