New York REIT — Investor Presentation (August 2016)
11 slides from New York REIT's investor presentation, Aug 9, 2016
Slide 1: Investor Presentation August 2016
0 February 2014 Investor Presentation August 2016
Slide 2: Forward Looking Statements & Projections
1 1 Forward Looking Statements & Projections Certain statements included in this presentation are forward - looking statements . Those statements include statements regarding the intent, belief or current expectations of us and members of our management team, as well as the assumptions on which such
Slide 3: Company Overview
2 Company Overview x In - place rents estimated to be 10% to 15% below market x Significant same - store cash NOI growth potential x 100% New York City x ~96% office & retail x 93.0% occupied x Average lease term of ~9.3 years x ~ 45% combined debt/enterprise value x ~2.7x combined interest coverage
Slide 4: Portfolio Snapshot (as of 6/30/16)
3 Portfolio Snapshot (as of 6/30/16) (1) In - place rents are estimated to be 10 - 15% below market Number of Properties 19 Square Feet 3.3 million Occupancy 93.0% % SF Expiring by Year (2) 2016 0.2% 2017 3.6% 2018 5.3% Sub - total 9.1% (1) Includes pro rata share of unconsolidated joint venture. (2
Slide 5: Cash Rent Portfolio Mix
4 82% 14% 3% Cash Rent Portfolio Mix (1) (1) Calculations are as of June 30, 2016 (2) Includes retail at office buildings (3) Includes parking and hotel assets Note: Calculations based on Annualized Cash Rents as defined in the supplemental information included in Exhibit 99.2 of the compan y’s form
Slide 6: Five Properties Account For 70% Portfolio Cash NOI
5 Five Properties Account For 70% Portfolio Cash NOI Note: All metrics are as of 6/30/2016 (1) Square footage represents 48.9 % of building total which is NYRT’s pro rata share of its joint venture investment in Worldwide Plaza (2) Weighted by Annualized Cash Rental Income Top 5 properties account f
Slide 7: Well-Staggered Lease Maturity Schedule
6 0.2% 3.6% 5.3% 1.1% 2.7% 2016 2017 2018 2019 2020 (1) As of June 30, 2015. Excludes Hotel and Multifamily properties. Note: As of June 30, 2016. 171,000 SF is attributed to Rent Path, Inc. (formerly Primedia) at 1440 Broadway Well - Staggered Lease Maturity Schedule Office & Retail Portfolio SF Ex
Slide 8: Strong Balance Sheet
7 $0.2 $228.2 $313.6 $315.7 $11.1 $413.3 $0.0 $200.0 $400.0 $600.0 $800.0 $1,000.0 Strong Balance Sheet (1) Includes $180 million on the revolving credit facility for which two 1 - year extension options are available (2) Based on June 30, 2016 closing price of $9.25 per share and June 30, 2016 debt
Slide 9: Same-Store NOI Bridge
8 (1) Per NYRT Q2 2016 Quarterly Supplemental; quarterly figure is multiplied by 4 to arrive at an annualized number (2) Includes income from Advance Magazine and Mulberry who expired in Q2; also includes ~$132k of non - recurring revenue at 218 W 18 th Street (3) Includes free rent from executed le
Slide 10: Highlights for 2Q 2016
9 Highlights for 2Q 2016 Occupancy: 93.0% Same - Store Cash NOI (1) : - 1.7% YOY Cash Releasing Spread (2) : 50% GAAP Releasing Spread (2) : 47% Debt / Enterprise Value: 45% Interest Coverage: 2.7x Core FFO / Share: $0.10 Core FFO Payout Ratio: 116% AFFO Payout Ratio: 158% (1) Excludes the Viceroy H
Slide 11: Non-GAAP Metrics
10 Non - GAAP Metrics This presentation uses certain non - GAAP metrics, including Funds from Operations (“FFO”), Adjusted Funds from Operations (“AFFO” ), Core Funds From Operations (“ Core FFO”), Net Operating Income (“NOI”), Cash Net Operating Income (“Cash NOI”) and Incremental Net Operating Inc