Inventrust Properties Corp. · NYSE:IVT
Inventrust Properties — Inland American Real Estate Trust — Shareholder Meeting (June 2007)
40 slides from Inventrust Properties's shareholder meeting presentation, Jun 4, 2007
Slide 1: Inland American's Multi-Component Strategy
Inland American’s Multi-Component Strategy
Slide 2: Multi-Component Strategy: Three Primary Engines of Growth and Income
Multi-Component Strategy Three Primary Engines of Growth and Income Core Holdings Operating Real Estate Businesses and Joint Ventures Investment Programs
Slide 3: Operating Businesses and Joint Ventures
Operating Businesses and Joint Ventures Winston Hotels New Industry Entrance Reduce Risk with Expertise University of Pennsylvania Student Housing Reduce Risk with Expertise Enhanced Returns Compared to Other Property Types New Industry Entrance Stephens Venture Expand Exposure to New Market Segment
Slide 4: Investment Programs
Investment Programs Investment in REIT Securities – Publicly Traded – Common and Preferred – Feldman Preferred Offering – Off Market Real Estate Lending – Enhanced Returns Compared to Core Properties – Low LTV – Guarantee of Borrower
Slide 5: Inland American Annual Stockholders Meeting June 4, 2007
Inland American Real Estate Trust, Inc. Annual Stockholders Meeting June 4, 2007 The Inland name and logo are registered trademarks being used under license
Slide 6: Current Portfolio Property Locations
Current Portfolio Property Locations The Inland name and logo are registered trademarks being used under license
Slide 7: Current Management Offices
Current Management Offices The Inland name and logo are registered trademarks being used under license
Slide 8: Portfolio Makeup by Purchase Price
Portfolio Makeup by Purchase Price (As of 5/15/2007) $ 3.3 Billion Retail $1.5 Billion 44% Office $1.2 Billion 36% Apartment $117.5 Million 4% Industrial/Distribution $517.6 Million 16% The Inland name and logo are registered trademarks being used under license
Slide 9: Portfolio Makeup by Property Type
Portfolio Makeup by Property Type (As of 5/15/2007) 156 Properties Retail - Multi Tenant 54% 73 Properties Apartment 3% 4 Properties Industrial/Distribution 16% 44 Properties Office Multi Tenant 3% 4 Properties Retail - Single Tenant 14% 19 Properties The Inland name and logo are registered trademar
Slide 10: Portfolio Size and Growth by Property Type
Portfolio Size and Growth by Property Type (As of 5/15/2007) $ 3.3 Billion Office Retail Billions of Dollars Apartment Industrial/ Distribution $0 $19.5M $83.5M $10M $286M $461M $1.1B $377M $1.2B $1.2B $323M $1B $1.1B The Inland name and logo are registered trademarks being used under license $117.5
Slide 11: Portfolio Size and Growth: Number of Properties
Portfolio Size and Growth Number of Properties Consolidated Portfolio 12/31/05 12/31/06 5/15/07 37 96 156 $783M $2.4B $3.3B The Inland name and logo are registered trademarks being used under license
Slide 12: Economic Occupancy 98%
Economic Occupancy 98% The Inland name and logo are registered trademarks being used under license
Slide 13: Property Highlights: IDS Center
Property Highlights Briggs & Morgan 1,394,989 Purchase Date: August 17, 2006 Leaseable Sq. Ft.: Purchase Price: $277,932,000 Location: Major Tenants: IDS Center Minneapolis, MN 8th Street at Nicollet Avenue The Inland name and logo are registered trademarks being used under license
Slide 14: IDS Center, Minneapolis, MN
IDS Center Minneapolis, MN Property Highlights The Inland name and logo are registered trademarks being used under license
Slide 15: Property Highlights: The Shops at Sherman Plaza
Property Highlights 152,264 Purchase Date: December 21, 2006 Leaseable Sq. Ft.: Purchase Price: $55,071,656 Location: Major Tenants: The Shops at Sherman Plaza Evanston, IL Sherman Avenue at Davis Street Barnes & Noble Ann Taylor Loft, LA Fitness The Inland name and logo are registered trademarks be
Slide 16: The Shops at Sherman Plaza, Evanston, IL
The Shops at Sherman Plaza Evanston, IL The Inland name and logo are registered trademarks being used under license
Slide 17: Property Highlights: The Market at Hilliard
Property Highlights 107,544 Purchase Date: July 11, 2006 Leaseable Sq. Ft.: Purchase Price: $20,341,288 Location: Major Tenants: Hilliard/Rome Road near Interstate 70 The Market at Hilliard Hilliard, OH Michaels, Old Navy, Bed Bath & Beyond, Great Clips The Inland name and logo are registered tradem
Slide 18: The Market at Hilliard, Hilliard, OH
The Market at Hilliard Hilliard, OH Property Highlights The Inland name and logo are registered trademarks being used under license
Slide 19: Property Highlights: One AT&T Center
Property Highlights 1,461,274 Purchase Date: December 21, 2006 Purchase Price: $204,900,000 One AT&T Center St. Louis, MO Leaseable Sq. Ft.: Location: Chestnut at 9th Street The Inland name and logo are registered trademarks being used under license Major Tenant: AT&T
Slide 20: One AT&T Center, St. Louis, MO
One AT&T Center St. Louis, MO Property Highlights The Inland name and logo are registered trademarks being used under license
Slide 21: Property Highlights: The Fields Apartment Homes
Property Highlights 285 Purchase Date: March 1, 2007 No of Units: Purchase Price: $34,000,000 Location: The Fields Apartment Homes Bloomington, IN East Moore’s Pike & South College Mall Road The Inland name and logo are registered trademarks being used under license
Slide 22: The Fields Apartment Homes, Bloomington, IN
Property Highlights The Fields Apartment Homes Bloomington, IN The Inland name and logo are registered trademarks being used under license
Slide 23: Property Highlights: Thermo Process
Property Highlights 150,000 Purchase Date: January 17, 2006 Leaseable Sq. Ft.: Purchase Price: $13,900,000 Location: Thermo Process Sugar Land, TX The Inland name and logo are registered trademarks being used under license Eldridge Road & Airport Boulevard
Slide 24: Thermo Process, Sugar Land, TX
Thermo Process Sugar Land, TX Property Highlights The Inland name and logo are registered trademarks being used under license
Slide 25: Subsequent Activity: Pines Portfolio
1,474,073 Purchase Date: April 10, 2007 Leaseable Sq. Ft.: Purchase Price: $265,636,322 Location: Major Tenants: Texas, Georgia, Florida 6 Pines Portfolio Houston, TX Tom Thumb, Starbucks Subsequent Activity The Inland name and logo are registered trademarks being used under license
Slide 26: Pines Portfolio, Houston, TX
6 Pines Portfolio Houston, TX Subsequent Activity The Inland name and logo are registered trademarks being used under license
Slide 27: Subsequent Activity: ProLogis Portfolio
2,302,827 Purchase Date: April 9, 2007 Leaseable Sq. Ft.: Purchase Price: $56,597,024 Location: Memphis and Chattanooga, Tennessee ProLogis Portfolio Memphis and Chattanooga, TN Subsequent Activity The Inland name and logo are registered trademarks being used under license
Slide 28: ProLogis Portfolio, Memphis and Chattanooga, TN
Subsequent Activity ProLogis Portfolio Memphis and Chattanooga, TN The Inland name and logo are registered trademarks being used under license
Slide 29: The Inland Financial Report
The Inland name and logo are registered trademarks being used under license Financial Report
Slide 30: Properties Owned By Property Type
156 93 Total 92 63 Retail 16 13 Office 44 16 Industrial/Distribution 4 1 Apartment 5/15/07 12/31/06 Properties Owned By Property Type Business Highlights The Inland name and logo are registered trademarks being used under license
Slide 31: Real Estate Owned By Property Type
Real Estate Owned By Property Type Business Highlights The Inland name and logo are registered trademarks being used under license $3.3 B $2.6B Total $1.5 B $1.0 B Retail $1.2 B $1.1 B Office $517.6 M $286.8 M Industrial/Distribution $117.5 M $19.5 M Apartment 5/15/07 12/31/06
Slide 32: Square Feet or Units Owned By Property Type
Square Feet or Units Owned By Property Type Business Highlights The Inland name and logo are registered trademarks being used under license 22.7 M 14.6 M Total 7.3 M 5.3 M Retail 6.5 M 5.8 M Office 8.9 M 3.5 M Industrial/Distribution 1,201 Units 256 Units Apartment 5/15/07 12/31/06
Slide 33: Percentage Leased By Property Type
96 % 96% Total Percentage Leased By Property Type Business Highlights The Inland name and logo are registered trademarks being used under license Apartment Industrial/Distribution Office Retail 12/31/06 91 % 100 % 97 % 95 % 5/15/07 93 % 98 % 98 % 94 %
Slide 34: Consolidated Financial Highlights
5.35 % 5.32 % Weighted Average Interest Rate 30 % 37 % Ratio of Debt to Assets $1.3 B $1.1 B Mortgages Payable $73.0 M $41.6 M Distributions Declared $2.5 B $1.5 B Stockholders’ Equity $4.3 B $3.0 B Total Consolidated Assets 3/31/07(1) 12/31/06(1) Consolidated Financial Highlights The Inland name an
Slide 35: Major Tenant Analysis: Retail as of 12/31/06
15.9 7.9 TOTALS 0.8 0.3 Price Chopper 0.7 0.4 Michaels 0.6 0.4 Bed Bath & Beyond 0.5 0.4 Ross Stores 0.3 0.4 H.E.B. Grocery 0.7 0.5 Dick’s Sporting Goods 1.8 0.6 Walgreens 1.9 1.0 Cinemark USA 2.3 1.1 24-Hour Fitness % RENT 6.3 % SPACE 2.8 MAJOR TENANT Stop & Shop Major Tenant Analysis* Retail as of
Slide 36: Major Tenant Analysis: Retail as of 5/15/07
5.1 2.8 Stop & Shop 1.8 1.1 24-Hour Fitness 15.5 11.1 TOTALS 0.7 0.4 Circuit City 0.3 0.4 H.E.B. Grocery Stores 0.6 0.5 Dick’s Sporting Goods 0.6 0.6 Ross Stores 1.4 0.6 Walgreens 0.7 0.7 Publix Super Markets 1.5 1.0 Cinemark USA % RENT 2.8 % SPACE 3.0 MAJOR TENANT Randall’s Food & Drugs Major Tenan
Slide 37: Major Tenant Analysis: Office and Industrial/Distribution as of 12/31/06
38.3 30.1 TOTALS 4.8 1.3 Lockheed Martin 0.7 1.4 DOPACO, Inc. 2.2 5.0 Pearson Education 6.6 7.9 C&S Wholesale Grocers 24.0 14.5 AT&T, Inc. % RENT % SPACE MAJOR TENANT Major Tenant Analysis* Office and Industrial/Distribution as of 12/31/06 *Triple net leased to a single tenant. This analysis is deri
Slide 38: Major Tenant Analysis: Office and Industrial/Distribution as of 5/15/07
34.2 35.3 TOTALS 3.2 2.5 Barber-Colman Company 1.8 3.3 Deluxe Media Services 1.8 5.0 Pearson Education 5.2 7.9 C&S Wholesale Grocers 22.2 16.6 AT&T, Inc. % RENT % SPACE Major Tenant Analysis* Office and Industrial/Distribution as of 5/15/07 *Triple net leased to a single tenant. This analysis is der
Slide 39: 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 12/31/06 Annualized Fees Totaling 1% of the First $10 Million, 0.9% from $10 Million to $25 Million, 0.80% from $25 Million to $50 Million and 0.75% of the Remaining Balance $2,086,000 Investment Advisory
Slide 40: Thank You For Investing With Inland American
Thank You For Investing With Inland American The Inland name and logo are registered trademarks being used under license NOTES
Inland American Real Estate Trust — Shareholder Meeting (June 2007) on 6ix