Independence Realty Trust, Inc. · NYSE:IRT
Independence Realty Trust — Investor Presentation (December 2014)
21 slides from Independence Realty Trust's investor presentation, Dec 2, 2014
Slide 1: Independence Realty Trust, Inc.
Exhibit 99.1 Independence Realty Trust, Inc. December 2014
Slide 2: Forward Looking Statements, Non-GAAP Financial Measures and Disclaimers
Forward Looking Statements, Non-GAAP Financial Measures and Disclaimers This document and the related presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, stat
Slide 3: Who are we?
Who are we? • IRT is an apartment REIT focused on building a portfolio of well-located apartment properties in supply constrained secondary and tertiary markets which generate attractive current returns with the potential for rent increases and improved operating efficiency. – Listed on the NYSE MKT
Slide 4: Attractive Apartment Industry Dynamics Support Strong Demand
Attractive Apartment Industry Dynamics Support Strong Demand Positive Trends IRT expects conditions will remain favorable for apartment fundamentals for the foreseeable future in secondary markets. • Positive Demographic Factors. The Echo boom generation (born early 80’s ’00’s), – which is significa
Slide 5: Key Statistics: Strong Momentum in the Business
Key StatisticsStrong - Momentum in the Business • Since September 30, 2013, IRT has more than doubled its portfolio by number of units and properties As of or For the Three-Month Periods Ended September 30, June 30, March 31, December 31, September 30, 2014 2014 2014 2013 2013 Financial Statistics:
Slide 6: Where we are?
Where we are? • IRT seeks to acquire well-located, stable apartment properties in secondary and tertiary markets – IRT owned 22 apartment properties totaling 6,470 units in 13 states at September 30, 2014 – IRTcorporateoffice – Philadelphia,PA National Footprint (1) Geographic Diversity (by units) (
Slide 7: IRT Portfolio Sampling
IRT PortfolioSampling - At September 30, 2014 Tresa at Arrowhead Centrepoint Belle Creek Crestmont Cumberland Glen Runaway Bay Phoenix, Arizona Tucson, Arizona Henderson, Colorado Marietta, Georgia Smyrna, Georgia Indianapolis, Indiana Copper Mill Heritage Trace Berkshire Square The Crossings King’s
Slide 8: Stable, Geographically Diversified Portfolio
Stable, Geographically Diversified Portfolio At September 30, 2014 ($ in thousands, except per unit data) Average Monthly Purchase Year Built or Physical Effective Rent per Property Name Location Acquisition Date Price Debt Renovated(1) Units(2) Occupancy(3) Occupied Unit(4) (5) Belle Creek Henderso
Slide 9: Disciplined Approach to Acquisitions
Disciplined Approach to Acquisitions 1 2 3 Markets Sourcing Assets • Focus on acquiring assets in • Source acquisitions through • Target Profile for Acquisitions supply constrained submarkets existing relationships and – Mid-rise/garden style (150-500 established channels units) with good amenities
Slide 10: Pipeline, Properties Under Contract & Recent Acquisitions
Pipeline, Properties Under Contract & Recent Acquisitions • In addition to the properties under contract and recent acquisitions described below, IRT has an acquisition pipeline of approximately 754 units with an estimated aggregate purchase price of $80.3 million as of November 17, 2014(1) • On Nov
Slide 11: Sponsor: RAIT Financial Trust (NYSE: RAS)
Sponsor: RAIT Financial Trust (NYSE: RAS) • RAIT is a multi-strategy commercial real estate company organized as an internally-managed REIT with $5.4 billion of assets under management as of September 30, 2014 – RAIT’s IPO J–anuary 1998 • Scalable “in-house” commercial real estate platform with more
Slide 12: Strong Alignment of Interests Between Sponsor and Stockholders
Strong Alignment of Interests Between Sponsor and Stockholders • RAIT is the largest stockholder in IRT with 7.3 million shares or approximately 23.0% of IRT’s outstanding common stock as of November 25, 2014 • RAIT controls entities that advise and manage IRT and its properties – Externally managed
Slide 13: Management Team
Management Team Scott F. Schaeffer Chairman and CEOIndependence – Realty Trust, Inc. and Chairman and CEO RAIT – Financial Trust CEO and ManagerIndependent – Realty Advisors, LLC Over 28 year career in real estate James J. Sebra CFO and Treasurer Independence – Realty Trust, Inc. and CFO and Treasur
Slide 14: Attractive Dividend
Attractive Dividend Dividend Yield (1) (%) (1) Dividend yields based on share price as of 11/28/2014 and most recently declared quarterly dividend annualized, except for IRT, which is based on most recently declared monthly dividend annualized. 14
Slide 15: IRT Financial Highlights
IRT Financial Highlights ($ in millions, except per share data) Revenue NOI Core FFO per Share Dividends per Share Note: Referto slide 22 for reconciliation of CoreFFOand NOI to GAAPnet income (loss). 15
Slide 16: Highlights
Highlights 1 Strong Momentum in the Business 2 Stable Portfolio in Supply-Constrained Markets 3 Disciplined Acquisition Strategy with Robust Pipeline 4 Strong Sponsorship and Alignment of Interest with IRT Stockholders 5 Attractive Dividend 16
Slide 17: Appendix
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Slide 18: Income Statement
Income Statement At September 30, 2014 ($ in millions, except per unit data) 18
Slide 19: Balance Sheet
Balance Sheet At September 30, 2014 ($ in millions, except per unit data) 19
Slide 20: Mortgage Indebtedness
Mortgage Indebtedness At September 30, 2014 ($ in millions, except per unit data) Outstanding Principal Carrying Amount Effective Interest Rate Maturity Date Belle Creek Apartments $ 10,575 $ 10,575 2.4%(1) April 28, 2021 Berkshire Square Apartments 8,612 8,612 4.4%(3) January 1, 2021 Centrepoint Ap
Slide 21: Non-GAAP Financial Measures: FFO and CFFO
Non-GAAP Financial Measures: FFO and (1)CFFO At September 30, 2014 ($ in millions, except per unit data) 21
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