Inventrust Properties Corp. · NYSE:IVT
Inventrust Properties — Inland American Real Estate Trust — Investor Presentation (June 2008)
36 slides from Inventrust Properties's investor presentation, Jun 3, 2008
Slide 1: Inland American's Multiple Platform Strategy
The Inland name and logo are registered trademarks being used under license Inland American’s Multiple Platform Strategy
Slide 2: Property Acquisitions
Property Acquisitions Worldgate Plaza Herndon, VA The Woodlands Waterway® Marriott Hotel & Convention Center The Woodlands, TX Citizens & SunTrust Bank Branches Various Locations 4-1
Slide 3: Multiple Platform Strategy
Multiple Platform Strategy Property Acquisitions REIT and Real Estate Operating Companies Development Joint Ventures Investments & Lending Relationships Multiple Platform Strategy Creates Growth to Enhance Shareholder Value 4-2
Slide 4: Investment Allocation
Investment Allocation* Marketable Securities – 4% Notes Receivable – 3% Development – 3% Joint Ventures - 6% Cash & Other Assets – 6% Total Assets $9.6B *as of 3/31/08 Core Assets – 78% Retail – 37% Lodging – 32% Office – 17% Distribution/Warehouse– 11% Multi-Family – 3% 4-3
Slide 5: REIT and Real Estate Operating Companies
REIT and Real Estate Operating Companies Winston Hotels, Inc. - Entry into lodging sector - new asset class with attractive valuation - 43 wholly owned assets and ownership in 6 partnerships within the upscale, extended-stay and select service segments located in 16 states Apple Hospitality Five, In
Slide 6: Development
Development Student Housing Multi-Family Retail Lodging The Radian – University of Pennsylvania Philadelphia, PA 4-5
Slide 7: Joint Ventures
Joint Ventures Net Lease Strategic Assets Fund (Lexington) Cobalt Industrial REIT II Lauth Investment Properties D.R. Stephens Institutional Fund Regional Developers 4-6
Slide 8: Investments & Lending Relationships
Investments & Lending Relationships Investment in REIT Securities - Publicly Traded Companies - Attractive Yields and Returns - Potential Company Acquisitions Real Estate Lending - Enhanced Returns Compared to Core Properties - Low LTV - Guarantee of Borrower 4-7
Slide 9: Property Management
Inland American Real Estate Trust, Inc. Property Management The Inland name and logo are registered trademarks being used under license
Slide 10: Current Portfolio Property Locations
Current Portfolio Property Locations – 882 Total Properties 2 Multi-Family Distribution/Warehouse Office Lodging Retail 8 Properties 61 Properties 30 Properties 98 Properties 685 Properties 4 States 17 States 13 States 23 States + Dist. of Col. 29 States 2,596 Units 13M Square Feet 7M Square Feet 14
Slide 11: Current Inland American Offices
Current Inland American Offices 1 1 1 1 1 1 1 1 5 Multi-Family Distribution/Warehouse Office Lodging Retail National Headquarters National Headquarters National Headquarters National Headquarters National Headquarters 3 Satellite Offices 2 Satellite Offices 2 Satellite Office 4 Satellite Offices 1 -
Slide 12: Core Portfolio Composition – $7.5 Billion
Core Portfolio Composition – $7.5 Billion* (As of 3/31/2008) Retail 37% $2.7 Billion Office 17% $1.3 Billion Multi-Family 3% $200 Million Distribution/Warehouse 11% $800 Million *Figures may include debt and are based on original purchase price of the asset. Lodging 32% $2.5 Billion 5-3
Slide 13: Core Portfolio Size and Growth by Property Type
Core Portfolio Size and Growth by Property Type – $7.5 Billion* (As of 3/31/2008) Office Retail Billions of Dollars Multi-Family Distribution/ Warehouse Q4 Q4 Q4 Mar Q4 Q4 Q4 Mar Q4 Q4 Q4 Mar Q4 Q4 Q4 Mar Q4 Q4 Q4 Mar 05 06 07 08 05 06 07 08 05 06 07 08 05 06 07 08 05 06 07 08 *Figures may include d
Slide 14: Portfolio Size and Growth
Portfolio Size and Growth* (As of 3/31/2008) Number of Properties Consolidated Portfolio 12/31/06 12/31/07 3/31/08 96 641 882 $2.4B $6.4B $7.5B *Figures may include debt and are based on original purchas e price of the asset. 5-5
Slide 15: Economic Occupancy
Economic Occupancy* 96% *Excludi ng Lodgi ng 5-6
Slide 16: The Woodlands Waterway Marriott Hotel & Convention Center Highlights
Property Highlights 341 Purchase Date: November 21, 2007 Number of Guest Rooms: Purchase Price: $137,000,000 Highlights: Convenient to George Bush Airport 70,000 sf of flexible meeting space Earned ENERGY STAR label from the EPA for its efforts to conserve water and energy and protect the environmen
Slide 17: The Woodlands Waterway Marriott Hotel & Convention Center
The Woodlands Waterway® Marriott Hotel & Convention Center The Woodlands, TX Property Highlights 5-8
Slide 18: Worldgate Plaza Property Highlights
Major Tenants: Property Highlights Purchase Date: Leaseable Sq. Ft.: Purchase Price: Highlights: Prime location within Washington Dulles Corridor Verizon Wireless, Comcast, Abraxas 322,325 June 1, 2007 $109,000,000 Worldgate Plaza Herndon, VA 5-9
Slide 19: Worldgate Plaza, Herndon, VA
Worldgate Plaza Herndon, VA Property Highlights 5-10
Slide 20: Lakeport Commons Property Highlights
Property Highlights 282,645 Purchase Date: September 24, 2007 Leaseable Sq. Ft.: Purchase Price: $55,198,000 Highlights: Major Tenants: Lakeport Commons Sioux City, IA Voted 2008 Best Shopping Center - Siouxland’s Choice Award Bed Bath & Beyond, Office Depot, LA Fitness 5-11
Slide 21: Lakeport Commons, Sioux City, IA
Lakeport Commons Sioux City, IA 5-12
Slide 22: Waterford Place at Shadow Creek Highlights
Property Highlights 296 Purchase Date: March 14, 2007 Number of Units: Purchase Price: $30,000,000 Location: Waterford Place at Shadow Creek Pearland, TX In Metropolitan Houston’s Highly Desirable Southwest Quadrant 5-13
Slide 23: Waterford Place at Shadow Creek
Property Highlights Waterford Place at Shadow Creek Pearland, TX 5-14
Slide 24: Atlas Cold Storage Portfolio Highlights
1,896,815 Purchase Date: September 29, 2007 Leaseable Sq. Ft.: Purchase Price: $170,669,172 Locations: Atlas Cold Storage Portfolio Various Locations Georgia, Illinois, Minnesota, South Carolina Property Highlights 5-15
Slide 25: Atlas Cold Storage Portfolio
Atlas Cold Storage Portfolio GA, IL, MN, SC Property Highlights 5-16
Slide 26: Bank Branches Property Highlights
3,266,028 Purchase Date: June 2007 – March 2008 Leaseable Sq. Ft.: Purchase Price: $1,025,885,252 Highlights: Major Tenants: Citizens Bank, SunTrust Bank Bank Branches Various Locations Triple Net Leases Property Highlights 5-17
Slide 27: Bank Branches Various Locations
Bank Branches Various Locations Citizens Bank Building Lewes, DE SunTrust Bank Building Adams Farm, NC Property Highlights 5-18
Slide 28: Financial Highlights
The Inland name and logo are registered trademarks being used under license Financial Highlights
Slide 29: Properties Owned by Property Type
Properties Owned by Property Type Multi-Family 8 8 Distribution/Warehouse 61 61 Office 26 30 Lodging 76 98 Retail 546 685 Total 717 882 12/31/07 3/31/08 Financial Highlights 6-1
Slide 30: Real Estate Owned
Real Estate Owned 12/31/07 3/31/08 Multi-Family $200M $200M Distribution/Warehouse $800M $800M Office $1.3B $1.3B Lodging $1.6B $2.5B Retail $2.5B $2.7B Total $6.4B $7.5B Financial Highlights 6-2
Slide 31: Square Feet or Units/Rooms Owned by Property Type
Square Feet or Units/Rooms Owned by Property Type 12/31/07 3/31/08 Multi-Family 2596 Units 2596 Units Distribution/Warehouse 13.3M SF 13.3M SF Office 6.9M SF 7.2M SF Lodging 10,411 Rooms 14,470 Rooms Retail 11.7M SF 12.5M SF Financial Highlights 6-3
Slide 32: Consolidated Financial Highlights
Consolidated Financial Highlights(1) 12/31/07 3/31/08 Financial Highlights Total Consolidated Assets $8.2B $9.6B Stockholder's Equity $4.6B $5.0B Distributions Declared $242.6M $89.3M Mortgages Payable $3B $3.8B Ratio of Total Mortgage Debt to Total Assets 37% 40% Weighted Average Interest Rate 5.66
Slide 33: Major Tenant Analysis
Major Tenant Analysis(1) 3/31/08 MAJOR TENANT Type % RENT % SPACE Financial Highlights (1) As reflected on the Company’s consolidated financial statements for the 3 months ended 3/31/08. 1 2 3 4 5 6 7 8 9 10 SunTrust Bank Retail/Office 13.74% 6.45% AT&T Centers Office 11.61% 10.25% Atlas Cold Storag
Slide 34: Lodging Analysis
Lodging Analysis* 3/31/08 Financial Highlights 21 Courtyard By Marriott 17 Residence Inn 5 Towne Place Suites 3 Marriott Hotels 1 Fairfield Inn and Suites 1 SpringHill Suites 48 Marriott Hotels Marriott Hilton 14 Hilton Garden Inn 12 Homewood Suites 2 Doubletree Hotels 10 Hampton Inn and Suites 2 Em
Slide 35: Schedule of Fees and Expenses Paid to Affiliates of Our Sponsor
Schedule of Fees and Expenses Paid (or Accrued) to Affiliates of Our Sponsor For the Year Ended 12/31/07(1) (1) As reflected on the Company’s consolidated financial statements for the year ended 12/31/07. 2.5% of the Aggregate Purchase Price Paid to Acquire the Controlling Interest of a Real Estate
Slide 36: Who You Invest With Is Everything
WHO YOU INVEST WITH IS EVERYTHING® 6-8 NOTES
Inland American Real Estate Trust — Investor Presentation (June 2008) on 6ix