Peakstone Realty Trust · NYSE:PKST
Peakstone Realty Trust — Griffin Capital Essential Asset REIT II — Q3 2018 Earnings Presentation
18 slides from Peakstone Realty Trust's earnings presentation, Nov 14, 2018
Slide 1: Summary of Earnings Results Third Quarter 2018
SUMMARY OF EARNINGS RESULTS Third Quarter 2018 We intend to invest in properties leased to blue chip tenants and/or companies with investment grade credit ratings. There is no guarantee all of our properties will be leased to blue chip tenants or companies with investment grade credit ratings. Blue
Slide 2: Conference Call Agenda
Conference Call Agenda TOPIC SPEAKER Introduction and Portfolio Characteristics Michael Escalante | President & Director Portfolio Update Michael Escalante | President & Director Financial Performance Review Javier Bitar | Chief Financial Officer Questions & Answers Michael Escalante and Javier Bita
Slide 3: Introduction and Portfolio Characteristics
Introduction and Portfolio Characteristics Michael Escalante | President & Director
Slide 4: Characteristics
Portfolio Characteristics September 30, 2018 December 31, 2017 Total Capitalization (1) $1.26 billion $1.25 billion Total Acquisition Value $1.12 billion $1.12 billion Number of Properties 27 27 Number of Buildings 35 35 Size of Portfolio (square feet) 7.3 million 7.3 million Occupied/Leased (based
Slide 5: Characteristics (cont'd)
Portfolio Characteristics (cont’d) September 30, 2018 December 31, 2017 Weighted Average Annual Rent Increase (1) 2.4% 2.4% Total Real Estate, Net $1.1 billion $1.1 billion Total Assets $1.2 billion $1.2 billion Total Debt $0.5 billion $0.5 billion Total Equity Raised (including DRP), Net of Redempt
Slide 6: Portfolio Update
Portfolio Update Michael Escalante | President and Director
Slide 7: Characteristics: National Diversification
Portfolio Characteristics* National Diversification as of September 30, 2018 18 21 5 13 14 4 12 8 17 6 18 7 13 16 19 *Logos shown are those of tenants, lease guarantors, or non-guarantor parent companies at our properties. * Logos shown are those of tenants, lease guarantors, or non-guarantor parent
Slide 8: Concentration: Tenant Business Diversity
Portfolio Concentration As of September 30, 2018 Tenant Business Diversity Griffin Capital management makes a Consumer Services: 16.6% conscious effort to achieve (2) diversification by tenant industry as All Others: 4.8% Griffin Capital Essential Asset REIT II’s Pharmaceuticals, Biotechnology portf
Slide 9: Concentration: Geographic Distribution and Asset Allocation
Portfolio Concentration As of September 30, 2018 GEOGRAPHIC DISTRIBUTION ASSET ALLOCATION (By % of Net Rent) (By % of Net Rent) Ohio: 12.8% Office: 76.5% (2) All Others: 11.7% Illinois: 11.3% North Carolina: 3.5% Oregon: 4.2% California: 11.2% Texas: 5.3% Alabama: 10.9% (1) Nevada: 8.9% Arizona: 9.6
Slide 10: Concentration: Credit Concentration
Portfolio Concentration As of September 30, 2018 CREDIT CONCENTRATION (By % of Net Rent) (1) Investment Grade: 75.8% Sub-Investment Grade: 24.2% (1) Investment grade descriptions are those of either tenants, guarantors, and/or non-guarantor parents with investment grade ratings or what management be
Slide 11: Strong Tenant Profile - Top Tenants
Strong Tenant Profile - Top 10 Tenants As of September 30, 2018 Top Tenants % of Portfolio(1) Ratings (2) 10.9% A- 7.5% A2(3) 7.4% AA- (4) 7.2% A+(5) 6.9% BB+(6) 6.1% BB+ 5.8% AA- (1) Based on net rental payment. (2) Represents S&P ratings of tenants, guarantors, or 5.5% BB non-guarantor parent enti
Slide 12: Net Asset Value
Net Asset Value As of September 30, 2018 Set forth below are the components of our daily NAV as of September 30, 2018 and June 30, 2018 calculated in accordance with our valuation procedures (in thousands, except share and per share amounts)(1): As of September 30, 2018 As of June 30, 2018 Gross Rea
Slide 13: Financial Performance Review
Financial Performance Review Javier Bitar | Chief Financial Officer
Slide 14: Financial Performance
Financial Performance (dollars in thousands, except per share amounts) Nine Months Ended September 30, Three Months Ended September 30, 2018 2017 2018 2017 Total Revenue $ 79,799 $ 79,882 $ 26,713 $ 27,349 Net Income Attributable to Common Stockholders $ (430) $ 9,585 $ (756) $ 3,098 Net Income Attr
Slide 15: Performance Report
Performance Report As of September 30, 2018 Cumulative Total Return as of September 30, 2018 (%)¹ Share Class/ Since Commencement of Follow-On Offering Index Ticker Nine Months Ended September 30, 2018 September 20, 2017 Class T2 ZGEATX 4.99 7.27 Class S2 ZGEASX 4.99 7.17 Class D ZGEADX 5.58 7.99 Cl
Slide 16: Debt Maturity Schedule
Debt Maturity Schedule (including effect of interest rate swap) As of September 30, 2018 (dollars in thousands) Statistics Fixed(1) Floating(2) Total Amount $ 476,970 $ 13,085 $ 490,055 Percentage 97% 3% 100% W.A. Term Remaining (Yrs) 7.91 4.74 7.82 W.A. Interest Rate (%) 3.82% 3.41% 3.81% $280,000
Slide 17: Questions & Answers
Questions & Answers Michael Escalante | President and Director Javier Bitar | Chief Financial Officer
Slide 18: Thank you
Thank you oA eee : for your participation. CAPITAL Rested §=6www.griffincapital.com THIS IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN.
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