Firm Capital Mortgage Investment Corporation · TSX:FC
Firm Capital Mortgage Investment — Firm Capital Property Trust — Q3 2022 Earnings Presentation
23 slides from Firm Capital Mortgage Investment's earnings presentation, November 2022
Slide 1: Firm Capital Property Trust Investor Presentation – Q3 2022
TSX: FCD.UN Diversified Canadian Real Estate Investments Inception Date: Nov. 2012 Firm Capital Property Trust Investor Presentation – Q3 2022
Slide 2: Content
Content INTRODUCTION 3 APPENDICES: HISTORY 4 ACQUISITION HISTORY 19 FIRM CAPITAL ADVANTAGE 5 BOARD OF TRUSTEES 20 INVESTMENT HIGHLIGHTS 6 MANAGEMENT TEAM 21 BENEFIT TO UNITHOLDERS 7 CONTACT INFORMATION 22 TARGETED ASSET CLASSES 8 DISCLAIMER 23 PORTFOLIO OVERVIEW 9 TENANT SUMMARY 10 DISCIPLINED EQUIT
Slide 3: Introduction
Introduction Firm Capital operates as a boutique real estate and financial services equity investment company deploying capital opportunistically between debt and equity in the real estate private and public markets across Canada and the U.S. Operating in the same industry for over 35 years Firm Cap
Slide 4: History
History Since inception in 1988, Firm Capital Organization has established an exceptional track record as demonstrated by past performance, and prides itself on its risk management abilities to protect and preserve capital, while acting as a disciplined investor. PROFICIENT SERVICES PROVIDED BY FIRM
Slide 5: Firm Capital Advantage
Firm Capital Advantage Investing Integrity EXPERIENCE MATTERS Experienced team managing debt and real estate throughout a real estate cycle 35+ year track record with management industry experience in excess of 100 years 1 DIRECT INVESTMENTS DISCIPLINED INVESTING Strong alignment of interest through
Slide 6: Investment Highlights
Investment Highlights • The REIT’s portfolio is comprised of 66 commercial properties with a total GLA of 4.3 million square feet Enhanced Scale Through Accretive (2.57 million square feet on an owned interest basis), interests in 5 apartment complexes comprised of Acquisitions 599 apartment units a
Slide 7: Benefit to Unitholders
Benefit to Unitholders Liquidity • Moved to TSX in March 2022 and daily trading volume in excess of 33,000 units per day • Debt to GBV proforma equity offering approximately 51% (51.1% Q2) Strong Balance Sheet • Approximately $20MM available on credit facility • Approximately 34% of debt maturing in
Slide 8: Targeted Asset Classes
Targeted Asset Classes FCPT Owns the Following Asset Classes: Multi-Family & Core Service Provider Net Lease and Standalone Industrial & Flex Industrial Manufactured Home Professional & Healthcare Convenience Retail Communities Office % of NOI 56% 28% 15% < 1% Disciplined Investing ● Capital Preserv
Slide 9: Portfolio Overview
Portfolio Overview Portfolio by Province Portfolio by Asset Class (by IFRS Value) (by IFRS Value) Portfolio is Diversified Across Geographies, Asset Classes and Tenants Disciplined Investing ● Capital Preservation 9
Slide 10: Tenant Summary
Tenant Summary Largest Tenant Contributes 14.1% of Net Rent and Top 10 Tenants Comprise 34.8% of Net Rent Disciplined Investing ● Capital Preservation 10
Slide 11: Disciplined Equity Strategy
Disciplined Equity Strategy Equity Financings & Unit Issue Price ($ millions, except unit price data) Gross Proceeds Raised Unit Price $7.40 $7.00 $7.10 $6.75 $6.90 $6.40 $6.40 $6.25 $6.25 $6.25 $6.40 $6.00 $45.6 $5.90 $5.60 $5.30 $5.35 $5.40 $5.00 $5.10 $28.8 $4.90 $23.3 $23.0 $20.0 $4.40 $3.90 $11
Slide 12: Total Return on Investment
Total Return on Investment Since Inception, a $100 Investment in FCPT Would be Worth $230 Today! (1) (1) As of September 30, 2022 Disciplined Investing ● Capital Preservation 12
Slide 13: Portfolio Growth
Portfolio Growth Disciplined Investing ● Capital Preservation 13
Slide 14: Distribution Growth
Distribution Growth Disciplined Investing ● Capital Preservation 14
Slide 15: Net Asset Value Growth
Net Asset Value Growth Disciplined Investing ● Capital Preservation 15
Slide 16: Q3 2022 Financial Highlights
Q3 2022 Financial Highlights ($ millions, except per unit or % amounts) Quarter Ended Quarter Ended Quarter Ended Metric Sept. 30, 2022 June 30, 2022 Sept. 30, 2021 NOI $9.0 $9.0 $8.1 AFFO/Unit $0.108 $0.114 $0.128 NAV/Unit $7.51 $7.52 $8.21 Distributions/Unit $0.130 $0.130 $0.128 Quarterly AFFO pay
Slide 17: 2022 Outlook
2022 Outlook • Moving forward, we will continue to monitor and assess the impacts to the economy that affect the performance of our portfolio. Supply chain issues and government stimulus have resulted in the current inflationary environment which is expected to continue into 2023. As a result, centr
Slide 18: Appendices
APPENDICES 1. Acquisition History 2. Board of Trustees 3. Management Team 4. Contact Information 5. Disclaimer Disciplined Investing ● Capital Preservation 18
Slide 19: Acquisition History
Acquisition History Acquisition Asset Class Acquisition Date GLA (sq. ft.) Based on FCPT % Interest2 FCPT Interest Acquired (%) Acquisition Price (@100%, millions) Bridgewater, NS Retail Nov-2012 46,903 100% $9.1 Brampton, ON Retail Nov-2012 36,137 100% $11.4 Hanover, ON Retail Nov-2012 19,874 100%
Slide 20: Board of Trustees
Board of Trustees Stanley Goldfarb • CEO of Goldfarb Management Services Limited Chairman, Independent Trustee • Chairman & Director of Firm Capital Mortgage Investment Corporation (TSX: FC) • Director of Mortgage Investment Corporation (TSX:FC) • Chairman & Trustee of Firm Capital Apartment REIT (T
Slide 21: Management Team
Management Team • Managing Director - Firm Capital Realty Partners Inc. since October 2008 Robert McKee • President & CEO of Firm Capital Property Trust (TSX: FCD.UN) President & CEO • Former Trustee of True North Apartment REIT (TSX:TN.UN) • Formerly with TD Securities - Real Estate Investment Bank
Slide 22: Contact Information
Contact Information OUR CORE PRINCIPLES TRUST INNOVATION RELATIONSHIPS Our partners, investors and Firm Capital brings an Firm Capital builds strong, long- clients can trust Firm Capital to innovative approach to term relationships with its execute on our commitment. structuring a transaction. partn
Slide 23: Disclaimer
Disclaimer This presentation is for informational purposes only and not intended to solicit Firm Capital Property Trust (“FCD”, “FCPT”, “TSX: FCD.UN”, or the “Trust”). This presentation may not provide full disclosure of all material facts relating to the securities offered. Investors should read th
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