Sila Realty Trust, Inc. · NYSE:SILA
Sila Realty Trust — Carter Validus Mission Critical REIT II — Q2 2020 Earnings Presentation
30 slides from Sila Realty Trust's earnings presentation, Aug 14, 2020
Slide 1: Quarterly Supplemental Information Second Quarter 2020
QUARTERLY SUPPLEMENTAL INFORMATION CARTER MISSION CRITICAL REIT I SECOND QUARTER 2020 www.cvmissioncriticalreit2.com
Slide 2: Disclosures
CARTER MISSION CRITICAL REIT Il 2Q |2020] Disclosures Forward Looking Statements Certain statements contained herein, other than historical fact, may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securit
Slide 3: Supplemental Information as of June 30, 2020
CARTER MISSION CRITICAL REIT Il 2a | 2020] Supplemental Information as of June 30, 2020 Section Page Quarterly Financial SUMMA... eee seeseseeeeteteeseseneeerseaseeeeneenenee 3 Corporate Address Financial Statistics and Rati OSssscseseccasesseystusresscscreescesstoetssessesasene dot 4 4890 W. Kenned
Slide 4: Quarterly Financial Summary
CARTER MISSION CRITICAL REIT Il 2Q |2020] Quarterly Financial Summary (dollars in thousands, except share data and per share amounts) The following tables summarize the company's quarterly financial results and portfolio metrics. Three Months Ended Financial Results June 30, March 31, December 31, S
Slide 5: Financial Statistics and Ratios
CARTER MISSION CRITICAL REIT Il 2Q |2020] Financial Statistics and Ratios (dollars in thousands, except per share amounts) Adjusted Interest Coverage Ratio Interest expense, adjusted EBITDA Adjusted interest coverage ratio Net Debt Ratios Principal debt outstanding Less: cash and cash equivalents. N
Slide 6: Condensed Consolidated Balance Sheets
CARTER MISSION CRITICAL REIT Il 2Q |2020] Condensed Consolidated Balance Sheets (dollars in thousands, except share data) (Unaudited) December 31, June 30, 2020 2019 ASSETS Real estate: Land $ 338,340 $ 343,444 Buildings and improvements, less accumulated depreciation of $162,790 and $128,304, respe
Slide 7: Condensed Consolidated Statements of Comprehensive Income (Loss)
CARTER MISSION CRITICAL REIT Il 2Q |2020] Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited; dollars in thousands, except share data and per share amounts) Three Months Ended June 30, 2020 2019 Revenue: Rental revenue $ 68,875 $ 46,937 Expenses: Rental expenses. 10,922 10,1
Slide 8: FFO, MFFO and AFFO
CARTER MISSION CRITICAL REIT Il 2Q |2020] FFO, MFFO and AFFO (dollars in thousands, except share data and per share amounts) Three Months Ended June 30, 2020 2019 Net income attributable to common stockholders S 11,095 $ 6,264 Adjustments: Depreciation and amortization* 25,294 15,610 Gain on real es
Slide 9: EBITDA and EBITDAre
CARTER MISSION CRITICAL REIT II 20 Ea EBITDA and EBITDAre (dollars in thousands) Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Net income attributable to common stockholders $ 11,095 $ 6,264 S 16,764 $ 10,625 Adjustments: Interest and other expense, net 14,199 9,893 29,51
Slide 10: Net Operating Income (NOI)
CARTER MISSION CRITICAL REIT Il 2Q |2020] Net Operating Income (NOI) (dollars in thousands) Cash Net Operating Income Rental revenue Rental expenses Net operating income Adjustments: Straight-line rent, net of bad debt expense Reduction in the carrying amount of right-of-use assets - operating lease
Slide 11: Same Store NOI and Occupancy Trends
CARTER MISSION CRITICAL REIT Il 2Q |2020] Same Store NOI and Occupancy Trends Total Same Store NOI and Occupancy 100% ee ee ee $37M 0 $37.7 90% » $36.8 $37.1 $37.1 3 5 $35M 8 £ 80% 8 2 $33m 8 o = z ~ & & $31M 70% o 3 3 2 $29m & 60% $27M $25M 50% 2Q19 3Q19 4Q19 1Q20 2Q20 85 Properties* Healthcare Sam
Slide 12: Debt
CARTER MISSION CRITICAL REIT II PY 2020) Debt (dollars in millions) Unsecured Credit Facility Key Covenants Required Actual Ratio of total indebtedness to total gross asset value < 60.0% 46.4% Ratio of secured indebtedness to total gross asset value < 40.0% 15.2% Ratio of adjusted EBITDA to fixed ch
Slide 13: Acquisitions and Dispositions
CARTER MISSION CRITICAL REIT II 20 Ea Acquisitions and Dispositions (dollars in thousands) 2020 Acquisitions Rentable Date Acquired Property Square Feet Market State Acquisition Price 02/19/2020 Grimes Healthcare Facility 14,669 Des Moines IA S 5,030 Total Year-to-Date Acquisitions 14,669 gy 5,030 2
Slide 14: Property Map
CARTER MISSION CRITICAL REIT II 2Q Property Map (as of June 30, 2020) oo) Properties per Market Single Healthcare Multiple Healthcare a Single Data Center & Multiple Data Center Corporate Properties Properties Properties Properties Headquarters See the glossary for a description of the company's non
Slide 15: Real Estate Diversification: Healthcare
CARTER MISSION CRITICAL REIT Il 2Q |2020] Real Estate Diversification: Healthcare Total Healthcare Statistics As of June 30, Top 10 Healthcare Markets””“ 2020 2019 Houston 10.5% Rentable square feet 5,327,550 2,518,542 Dallas Number of properties 123 56 Oklahoma City Weighted average annualized base
Slide 16: Real Estate Diversification: Healthcare
CARTER MISSION CRITICAL REIT II 2a | 2020] Real Estate Diversification: Healthcare Healthcare Lease Expirations® $105M 3.5M $90M 3.0M § $75M 2.5M [4 g @ 8 $60m 20m? 3 gz g o = $45m 1sM OB S & = < $30M 1.0M $15M 0.5M ou = — = LF] aon 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Thereafter @™ Ann
Slide 17: Real Estate Diversification: Data Centers
CARTER MISSION CRITICAL REIT II 2a | 2020] Real Estate Diversification: Data Centers Total Data Center Statistics As of June 30, Top 10 Data Center Markets”? 2020 2019 Atlanta 27.4% Rentable square feet 3,297,624 3,296,104 Sacramento Number of properties 29 29 Washington, D.C. eee ae $ a7 § ag Sen d
Slide 18: Real Estate Diversification: Data Centers
CARTER MISSION CRITICAL REIT II 2a | 2020] Real Estate Diversification: Data Centers Data Center Lease Expirations $30M $25M $20M $15M $10M Annualized Base Rent $5M som 2020 2021 2022 @™ Annualized Base Rent (June 2020) 2023 2024 2025 Tenant Diversification’? Dawn Acquisitions, LLC 11.1% CenturyLink
Slide 19: Real Estate Diversification: Total Portfolio
CARTER MISSION CRITICAL REIT II 2a | 2020] Real Estate Diversification: Total Portfolio Total Portfolio Statistics As of June 30, Top 10 Total Markets”? 2020 2019 Atlanta 9.8% Rentable square feet 8,625,174 5,814,646 Houston 9.1% Number of properties 152 85 Oklahoma City Weighted average annualized
Slide 20: Real Estate Diversification: Total Portfolio
CARTER MISSION CRITICAL REIT II 2a | 2020] Real Estate Diversification: Total Portfolio Total Portfolio Lease Expirations” $140M 5.0M $120M 2 4.0M € @ $100m 2 8 & $som 30M 2 3 g & $6om $ ‘s 2.0M & = $40m $20M | som — |_| 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Thereafter @—™ Annualized Bas
Slide 21: Portfolio: Healthcare
CARTER MISSION CRITICAL REIT Il 20 |2020] Portfolio: Healthcare Healthcare Properties Market Property Name State sure rest Date Acquired Occupancy Property Subtype Akron Akron Healthcare Facility OH 98,705 10/4/2019 100.0% Medical Office Building Akron Akron Healthcare Facility II OH 38,564 10/4/201
Slide 22: Portfolio: Healthcare (Continued)
CARTER MISSION CRITICAL REIT Il 20 |2020] Portfolio: Healthcare (Continued) Market Property Name State sure rest Date Acquired Occupancy Property Subtype Destin Crestview Healthcare Facility FL 5,685 10/4/2019 100.0% Medical Office Building Destin Fort Walton Beach Healthcare Facility FL 9,017 10/4/
Slide 23: Portfolio: Healthcare (Continued)
CARTER MISSION CRITICAL REIT Il 20 |2020] Portfolio: Healthcare (Continued) Market Property Name State sure rest Date Acquired Occupancy Property Subtype Little Rock Benton Healthcare Facility II AR 11,350 10/17/2018 100.0% Medical Office Building Little Rock Bryant Healthcare Facility AR 23,450 10/
Slide 24: Portfolio: Healthcare (Continued)
CARTER MISSION CRITICAL REIT Il 2Q |2020] Portfolio: Healthcare (Continued) Market Property Name State roti con Date Acquired Occupancy Property Subtype San Antonio San Antonio Healthcare Facility III ™ 50,000 10/4/2019 100.0% Inpatient Rehabilitation Facility San Antonio San Antonio Healthcare Faci
Slide 25: Portfolio: Data Centers
CARTER MISSION CRITICAL REIT Il 20 |2020] Portfolio: Data Centers Data Center Properties Market Property Name State sure rest Date Acquired Occupancy Property Subtype Atlanta Alpharetta Data Center GA ip SoD) 2/2/2016 100.0% Colocation Atlanta Atlanta Data Center GA 997,248 6/15/2017 88.5% Wholesale
Slide 26: Glossary
CARTER MISSION CRITICAL REIT Il 20 |2020] Glossary Annualized Base Rent is the sum of each tenant’s base rent in the last month of the period multiplied by twelve, unless otherwise specified. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and Earnings Before Interest, Taxes,
Slide 27: Glossary
CARTER MISSION CRITICAL REIT Il 20 |2020] Glossary The following is a reconciliation of net income (loss) attributable to common stockholders, which is the most directly comparable GAAP financial measure to FFO, MFFO and AFFO for the following quarterly periods (amounts in thousands): Three Months E
Slide 28: Glossary
CARTER MISSION CRITICAL REIT II 20 |2020] Glossary Liquidity is a non-GAAP financial metric that represents the outstanding cash and cash equivalents combined with the remaining borrowing base availability on the company’s credit facility at the end of the period. This metric provides useful informa
Slide 29: Glossary
CARTER MISSION CRITICAL REIT Il 20 |2020] Glossary The following is a reconciliation of net income attributable to common stockholders, which is the most directly comparable GAAP financial measure to Healthcare NOI, Data Center NOI, Total NOI and Cash NOI, for the following periods (amounts in thous
Slide 30: Glossary
CARTER MISSION CRITICAL REIT Il 2Q |2020] Glossary The following is a reconciliation of net income (loss), attributable to common stockholders, which is the most directly comparable GAAP financial measure to Healthcare same store NOI, Data Center same store NOI and Total same store NOI for the follo
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