Flagship Communities Real Estate Investment Trust · TSX:MHC.U
Flagship Communities Real Estate Investment Trust — Q2 2024 Earnings Presentation
13 slides from Flagship Communities Real Estate Investment Trust's earnings presentation, Aug 8, 2024
Slide 1: Investor Presentation August 2024
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Slide 2: Disclaimers
Disclaimers Ge neral This pre sentation contains s tatements that include forward-looking information (within the meaning of applicable Canadian When relying on forward‐looking statements to make decisions, the REIT cautions readers not to place undue re liance on securities laws ). Forward-looking
Slide 3: Executive Leadership
Executive Leadership Eddie Carlisle Kurt Keeney Nathan Smith Chief Financial Officer Chief Executive Officer Chief Investment Officer 3
Slide 4: Q2 2024 Highlights
Q2 2024 Highlights REVENUE FUNDS FROM OPERATIONS1 $7.9 M $21.2 M $17.4 M $6.2 M 22.2% 27.4% Q2 2023 Q2 2024 Q2 2023 Q2 2024 ADJUSTED FUNDS FROM SAME COMMUNITY REVENUE OPERATIONS1 $18.9 M $7.0 M $5.5 M 10.8% 28.5% $17.1 M Q2 2023 Q2 2024 Q2 2023 Q2 2024 1See “Non-IFRS Financial Measures and Real Esta
Slide 5: Expanding Existing Footprint
Expanding Existing Footprint WV Establishing IN OH new presence IL WV MO KY TN AR TN Expanding existing footprint 5
Slide 6: MHCs: Cost-Effective Pathway to Home Ownership
MHCs: Cost-Effective Pathway to Home Ownership ▪ Housing affordability ▪ Pride of home ownership ALEXANDRIA, KENTUCKY ▪ Ability to build home equity ▪ Detached homes with deck, yard, driveway and in-house laundry ▪ Attractive lifestyle & amenities PICKLEBALL COURT Mutually Beneficial Rental Relation
Slide 7: KMHI Award Recipients
KMHI Award Recipients Flagship Receives KMHI Flagship Receives Three MHI Awards for Excellence in Manufactured Community of the Year Award Housing for White Pine Pointe 7
Slide 8: Disciplined Acquisition Criteria
Disciplined Acquisition Criteria All Flagship REIT acquisitions adhere to strict and disciplined criteria: ▪ Accretive to AFFO per unit ▪ Leverage management synergies and generate economies of scale MORGANTOWN, WEST VIRGINIA ▪ Adjacent U.S. states where we currently operate, or new states with simi
Slide 9: Proven Operator
Proven Operator MHC Industry Market Share Source: Manufactured Housing Institute ▪ Industry primarily comprised of local owner-operators ▪ Top 50 investors estimated to control ~17% of manufactured housing lots for rent ▪ ~5,300 communities within Flagship’s current target markets New Supply Constra
Slide 10: Q2 2024 Financial Summary
Q2 2024 Financial Summary ($000s except per unit amounts) For the three For the three For the six For the six months ended months ended Variance months ended months ended Variance Jun. 30, 2024 Jun. 30, 2023 Jun. 30, 2024 Jun. 30, 2023 Rental revenue and related income 21,232 17,379 3,853 41,152 34,
Slide 11: MHC Portfolio
MHC Portfolio ($000s except per unit and Weighted Average Lot Rent amounts) As of Jun. 30, 2024 As of Dec. 31, 2023 Total communities (#) 82 75 Total lots (#) 15,105 12,743 Weighted Average Lot Rent1 (US$) 447 418 Total Portfolio Occupancy (%) 83.9 83.4 Same Community Occupancy (%) 85.0 84.52 NAV1 (
Slide 12: Stable and Consistent Occupancy
Stable and Consistent Occupancy Lot Rent Occupancy Consistent Same Stable and Growing Same Community Lot Rent Growth Community Occupancy 12
Slide 13: Investor Presentation August 2024
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