One Liberty Properties, Inc. · NYSE:OLP
One Liberty Properties — Investor Presentation (October 2013)
34 slides from One Liberty Properties's investor presentation, Oct 8, 2013
Slide 1: One Liberty Properties, Inc. October 2013
ONE LIBERTY PROPERTIES, INC. One Liberty Properties October 2013 onelibertyproperties.com
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain information contained in this presentation, together with other statements and information publicly disseminated by One Liberty Properties, Inc. (the “Company’), constitute forward looking statements within the meaning of Section 27A of Securities Act of 1933, as amendi
Slide 3: One Liberty Overview
One Liberty Overview ¢ Single tenant net lease REIT traded on NYSE under the symbol “OLP” Fundamental focus on long-term real estate underwriting Opportunistic acquisition and disposition history Disciplined investment approach with predictable lease revenue to support dividend Experienced managemen
Slide 4: Financial Highlights
Financial Highlights Stock Price as of 10/4/13: $20.24 52 Week High/Low: $17.52 - $27.74 Shares Outstanding: 15.6 Million Dividend Yield (1): 6.92% Current Market Cap: $316 million Total Enterprise Value (2): $623.1 million Contractual Rental Income 10/1/13 — 9/30/14 a): $52.9 million Number of Prop
Slide 5: Management Team
Management Team ‘© Chairman of the Board since June 2013 and Vice Chairman from 2011 through June 2013. President and Chief Executive Officer from 1989 to 1999 and Senior Vice President from 1999 to 2011 '* Senior Vice President of BRT Realty Trust (NYSE: BRT) since 1993 and Trustee since 2004 ‘* Ch
Slide 6: Diverse Tenant Base
Diverse Tenant Base Top Tenants Percent of Contractual Tenant Rental Income ‘S&P Credit Rating Haverty Furniture Companies, Inc. (NYSE: HVT) 86% ‘Not Rated LA Fitness intemational, LLC 5.4% Not Rated fice Depot, Inc. (NYSE: ODP) 53% B., Outlook Stable Northern Too! & Equipment Company Inc 5.0% B+, O
Slide 7: Diversified Geographic Footprint
Diversified Geographic Footprint © Portfolio with JV’s spans 107 properties in 29 states (6.6 million square feet) 36,648,945, 532,784 New York 8 $5,567,051 445,878 New Jersey 4 $6,162,705 289,531 South Carona 4 $4,136,184 4,046,528 Georgia 10 $3,985,413 318,466 Pennsylvania 9 $3,977,489 383,404 7 %
Slide 8: Properties By Sector
Properties By SeCtoP cisions) Retail 56.7% Industrial 17.9% Flex 7.0% Office 6.4% Health & Fitness 6.0% Other 6.0%
Slide 9: Stable Financial Performance
Stable Financial Performance © Consistent payment of dividend * High-quality portfolio proven to be highly stable through the recent recession Dividend History (1) 1.40 132 $140 123g cae 8 $120 = 3088 $100 3080 His $060 $040 $020 2009 2010 2011 2013 2012 (°) 04209 siden nase ten dete, Tis ube assume
Slide 10: Solid Financial Position
Solid Financial Position o 08 Gross Assets (1): Total Debt/Gross Assets (2): Debt Service Coverage Ratio 2012 (3): 2013-6 months: Fixed Charge Coverage Ratio 2012 (3): 2013-6 months: FFO Payout 2012: 2013-6 months: Return on Assets 6/30/12 —6 months (4): 6/30/13 — 6 months: Return on Equity 6/30/12
Slide 11: FFO & AFFO
FFO & AFFO > Historical FFO/SH (1) Historical AFFO/SH (1) $158 S161 $159 1.48 Sit sist $180 $1.60 $140 $1.20 $1.00 080 $0.60 $040 $0.20 30.00 2010 2011 2012 2013 2010 2011 2012 2013 Weighted Average Diluted Shares Outstanding (in Millions) (1) 14.9 pas
Slide 12: Strong Balance Sheet
Strong Balance Sheet ° Liquidity available to acquire in excess of $150 million of properties © $51.5 million available on a $75 million Line of Credit as of October 4, 2013 * 98% of the mortgages payable are fixed rate (weighted average of 5.2%) and non- recourse © There is approximately $7.8 milli
Slide 13: Manageable Lease Expirations
Manageable Lease Expirations Zid» ° 327.550 $722,228 14% 01% 2015 10 438,408 $4,673.76 88% 8.2% 2016 13 369,222 $3,075,273 5.8% 6.9% 2017 8 499.228 $2495.88 47% 31% 2018 w 334,529 $5,478,390 104% 62% 2019 1 135,062 $1637 345, 31% 25% 2020 4 118,816 2.263.256 43% 22% 2021 8 17,060 $2,926,454 55% 3.2%
Slide 14: Acquisition Criteria
Acquisition Criteria © We pay special attention to the quality of the real estate in our acquisition activity © Investment Size: $2,500,000 minimum with no maximum * Investment Type: We consider a variety of net-leased properties including industrial, warehouse, manufacturing, retail and restaurants
Slide 15: Solid Acquisition Track Record
Solid Acquisition Track Record © Acquired $101.5 million properties to date in 2013 * Current pipeline of diverse opportunities in excess of $250 million Total Revenue (1 a (Sinmilions) gaes sno Acquisitions Per Year (2) sais {Sinmillions) 101,50 $100 (() To Raverunn 202. forte seman ences 20010, (2
Slide 16: 2013 Acquisitions
2013 Acquisitions + Northern Tool and Equipment distribution center in Fort Mill, SC for $39.2 million and financed with debt of $27.3 million + FedEx Express distribution center in Indianapolis, IN for $9.3 million, all cash + Joe's Crab Shack restaurant in Ann Arbor, MI for $3.0 million, all cash
Slide 17: Appendix
Appendix
Slide 18: Acquisition Case Study — Flex
Acquisition Case Study — Flex 8 Acquired a production & distribution facility in Fort Mill, SC in July 2013 net leased to Shutterfly, Inc. (NYSE: SLFY) 14 miles from downtown Charlotte Adjacent to Interstate 77 and features daily traffic counts over 92,000 daily Building is 303,188 square feet on 39
Slide 19: Acquisition Case Study — Retail
tion Acquisi Case Study — Retail * A90% OLP controlled joint venture acquired a Kmart retail store in Clemmons, NC in March 2013 net leased to Kmart Corporation © Located at a major intersection off interstate 40, 9 miles west of Winston- Salem * The property has redevelopment potential * Building i
Slide 20: Acquisition Case Study — Industrial
Acquisition Case Study — Industrial * Acquired a distribution facility in Fort Mill, SC in September 2013 net leased to Northern Tool & Equipment Company, Inc. (S&P rated B+) © 18 miles south of downtown Charlotte * The class A building features 30’ clear heights throughout, 92 dock doors, 2 bay doo
Slide 21: Top Tenants Profiles
Top Tenants Profiles
Slide 22: Havertys Furniture — Tenant Profile
Havertys Furniture — Tenant Profile Tenant: Haverty Fumiture Companies, Inc. (NYSE: HVT) Largest tenant representing 8.6% of contractual rental income Full service home furnishings retailer founded in 1885 Public company since 1929 119 showrooms in 16 states in the Southern and Midwestem regions HVT
Slide 23: Havertys — Cedar Park (Austin), TX
Havertys — Cedar Park (Austin), TX * Building: 50,810 SF on 5.27 acres. Built in 2001. Havertys has operated at this location for more than 9 years + 3 Mile Demographics (source: stesusa, 20 Population: 85,503 — Average HH Income: $82,293 * Location: 11091 Pecan Park Blvd, Cedar Park (Austin), TX; 1
Slide 24: Havertys — Richmond, VA
Havertys — Richmond, VA * Building: 38,788 SF on 2.16 actes. Built in 1979 and renovated and expanded in 2001. Havertys has operated at this location for more than 9 years © 3 Mile Demographics (source:stes usa, 2013) Population: 55,806 — Average HH Income: $98,991 * Location: 11501 Midlothian Turnp
Slide 25: LA Fitness — Tenant Profile
LA Fitness — Tenant Profile fenant: LA Fitn nal Second largest tenant repres rental income (00 clubs in 21 states and is headquartered in 3 properties City, State: % of contractual rental income Nu: 23) presenting 141,663 square feet LA Fitness - Secaucus, NJ * Building: 44,8 F on 1.229 acres. mogra
Slide 26: Office Depot — Tenant Profile
Office Depot — Tenant Profile Tenant: Office Depot, inc. (NYSE: ODP) * T properties representing 183,000 square feet Third largest tenant representing 5.3% of contractual rental City, State: % of contractual rental income income. Chicago, IL: 1.1% Leading global provider of office products and servi
Slide 27: Office Depot — Chicago, IL
Office Depot — Chicago, IL 1994. Office Depot has operated at this location for more than 16 years. * Building: 23,939 SF on 2.62 acres. Built * 3 Mile Demographics (source: The Niten Co Population: 577,482 Average HH Income: $83,713 * Location: 2928 N. Ashland Ave, Chicago, IL; 4 miles northwest of
Slide 28: Northern Tool — Fort Mill, SC
Northern Tool — Fort Mi United St — Recently Goff Waret pires 4/3/20; * Debt: $27.3 million, which mature: rate of 4.87 * Building: 701 5 sau * Location: 1850 Ban e fe use to sell outdoor sports anc ds through their distribution chain ton 40 ai Road, Fort Mill, 4/30/2029 at a fix of land Population
Slide 29: Ferguson Enterprises — Baltimore, MD
29) Source: Tenants website * Tenant: Ferguson Enterprises, Inc Sth largest tenant representing 4.7% of contractual rental income — Alarge United States distributor of plumbing supplies, pipes, valves and fittings * Lease expires 3/31/2022 * Debt: $21.6 million, which effectively matures on 1/1/2017
Slide 30: DSM Nutritional — Parsippany, NJ
DSM Nutritional — Parsippany, NJ * Tenant: DSM Nutritional Products, inc. 6th largest tenant representing 4.2% of contractual rental income Worldwide leading supplier of vitamins, carotenoids and other fine chemicals to the feed, food, pharmaceutical and personal care industries Lease guaranteed by
Slide 31: Portfolio Of Properties By State (1-36)
Portfolio Of Properties By State ~~" 107 Properties in 29 States (As of September 30, 2013) ~ Properties 1.36 (CO-LA) Square city __state “Feet city state “Feet Greenwood Dotar General Ci Trends and Rugged {The Sports Authorty, nc Viage co 45,000 19 Warenouse 2} Savannah ex sero Whole Foods Maret, n
Slide 32: Portfolio Of Properties By State (37-72)
Portfolio Of Properties By State « 107 Properties in 29 States (As of September 30, 2013) ~ Properties 37-72 (ME-OH) square ame or Tenant. city _state Feet Mame orTenanisb.a, ‘city __state_Feet 27 Hutig Bulking Products, ne. Saco ME 91,400 SSOSW Nutrtonal Preduetsne Parsippany 108,880 22 Ferguson nt
Slide 33: Portfolio Of Properties By State (73-107)
Portfolio Of Properties By State ~~~" 4107 Properties in 29 States (As of September 30, 2013) ~ Properties 73.107 (OH.WI) Square feet feet usin (Cedar 73LA.Finess nteratona LC, amon OM 3600091 Havertys Furntue Part) ~* 59810 74Federal Express Corpraton Miamisburg OM-——«35,707 820 MfeeDepet, nc. E1Pa
Slide 34: GAAP Reconciliation
GAAP Reconciliation ‘The table below provides reconciliation of net income per common share (on a diluted basis) in accordance with GAAP to FFO and AFFO Sixmenita seccmaias | 20 | sn _| amo Netincome 33] 216 $%[ sa ‘Ad: depreciation of properica 35 | 66 5 “Add our share of deprecation iv unconsoldat
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