Apartment Investment And Management Company · NYSE:AIV
Apartment Investment And Management — BAML Global Real Estate Conference 2018
11 slides from Apartment Investment And Management's conference presentation, Sep 24, 2018
Slide 1: BAML Global Real Estate Conference Investor Presentation & Guidance Update
Park Towne Place Center City, Philadelphia Park Towne Place, Philadelphia Park Towne Place, Philadelphia BAML Global Real Estate Conference Investor Presentation & Guidance Update September 2018
Slide 2: Strategic Objectives
STRATEGIC OBJECTIVES Aimco’s primary measure of long-term financial performance is Economic Income. This metric reflects Aimco shareholder value creation as measured by the change in its Net Asset Value plus Cash Dividends paid. Operational Excellence Redevelopment Portfolio Management Balance Sheet
Slide 3: Operations Update
OPERATIONS UPDATE STRONG 2018 PEAK LEASING SEASON • May-August blended lease rate growth was 3.5% and Average Daily Occupancy was 96.2% 2018 SAME STORE REVENUE INCREASINGLY CERTAIN • Remaining new leases are only ~6% of full year transactions CHANGES IN SAME STORE Full Year 1Q 2Q QTD Mid YTD RENTAL
Slide 4: Early Look at 2019
EARLY LOOK AT 2019 BUILDING BLOCKS FOR 2019 SAME STORE REVENUE GROWTH • EARN-IN: 2018 leasing activity will contribute ~150 bps to 2019 Same Store revenue growth vs. 2017 leasing activity which contributed 120 bps to 2018 SS revenue growth. • AVERAGE DAILY OCCUPANCY: YTD 2018 ADO of 96.3% is 30 bps
Slide 5: Capital Opportunities
CAPITAL OPPORTUNITIES BALANCE SHEET CAPACITY FOR ADDITIONAL OPPORTUNISTIC TRANSACTIONS • Under-managed communities e.g. Bent Tree Apartments • OP unit transactions e.g. Philadelphia portfolio • Redevelopment of existing assets with high land value e.g. Park Towne Place and Parc Mosaic • Unique devel
Slide 6: What's Next for Redevelopment?
WHAT'S NEXT FOR REDEVELOPMENT? REDEVELOPMENT PIPELINE • Aimco plans future starts to backfill its redevelopment pipeline. • In 2018, Aimco expects to spend $160M to $200M on redevelopment and development activities and is likely to accelerate spending on these activities in 2019. DENVER MINNEAPOLIS
Slide 7: Aimco's Portfolio Transformation
AIMCO’S PORTFOLIO TRANSFORMATION • On July 25th, 2018, Aimco closed the $590 million sale of its Asset Management business and Hunters Point affordable communities, the capstone to a multi-year strategy to exit the affordable housing business and concentrate capital investment into high quality, mar
Slide 8: High Quality Balance Sheet
HIGH QUALITY BALANCE SHEET Aimco limits risk through balance sheet structure, employing low leverage, primarily non-recourse and long-dated property debt, and builds financial flexibility by maintaining ample unused and available credit as well as a pool of properties with substantial value unencumb
Slide 9: Why Invest in Aimco?
WHY INVEST IN AIMCO? • Best-in-Class Operations: Driving lower resident turnover and higher revenue growth through intentional focus on customer selection and satisfaction. • Paired Trade Capital Allocation Discipline: Through acquisitions, redevelopment, and development, Aimco adheres to a discipli
Slide 10: Appendix: Guidance Update
APPENDIX: GUIDANCE UPDATE 2018 Outlook ($ Amounts represent Aimco Share) Full Year 2018 Prior Full Year 2018 ∆ from Prior Guidance Net Income per share $4.26 to $4.34 $4.25 to $4.33 +$0.01 at the midpoint Pro forma FFO per share $2.41 to $2.49 $2.40 to $2.48 +$0.01 at the midpoint AFFO per share $2.
Slide 11: Forward Looking Statements & Other Information
FORWARD LOOKING STATEMENTS & OTHER INFORMATION This presentation contains forward-looking statements within the meaning of the federal securities laws, including, without limitation, statements regarding projected results and specifically forecasts of 2018 results, including but not limited to: Pro
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