Copper Property Ctl Pass Through Trust · OTC:CPPTL
Copper Property Ctl Pass Through Trust — Investor Presentation (July 2023)
11 slides from Copper Property Ctl Pass Through Trust's investor presentation, Jul 24, 2023
Slide 1: Certificateholder Update
Certificateholder Update JProprietary u l y 2 and4 , Confidential 2 0 2 3 – All data as of June 30, 2023 unless otherwise stated 0 www.ctltrust.net
Slide 2: Phase I Review
Phase I Review Proprietary and Confidential – All data as of June 30, 2023 unless otherwise stated 1 w w w.c t lt ru s t .n e t
Slide 3: Property Sales to Date
Property Sales to Date Phase I - Market the Distribution Centers and Option Properties and sell CTL’s based on receipt of compelling offers. This plan leveraged the fact that the average yield on the Option Properties was 4.9%, while the average yield on the CTL’s was 9.7% Property Sales Through Jun
Slide 4: Trust Distributions / FMV / Yield
Tr u s t D i s t r i b u t i o n s / F M V / Y i e l d Distributions Through July 15, 2023 Net Rental Income Sales Total Per Distributions Distributions Distributions Certificate 2021 $ 61,337 $ 200,129 $ 261,466 $ 3.49 2022 $ 90,594 $ 733,622 $ 824,216 $ 10.99 Through 7/23 $ 53,189 $ 22,897 $ 76,08
Slide 5: Certificate Trading History
C e r t i f i c a t e Tr a d i n g H i s t o r y CPPR Trade Price vs. NAV** $30 $26.14 $25 $20 $18.08 $15.09 $15 $10.50 $10 Sep-21 Sep-22 Jun-21 Dec-21 Mar-22 Jun-22 Dec-22 Mar-23 Jun-23 Jan-22 Feb-22 Jan-23 Feb-23 Apr-21 Apr-22 Apr-23 Oct-21 Oct-22 May-21 May-22 May-23 Aug-21 Aug-22 Nov-21 Nov-22 J
Slide 6: Other Noteworthy Events
Phase I Review Other Noteworthy Events • As a result of an aggressive competitive bid process, the Trust’s 2023 D&O insurance premiums have been substantially reduced from 2022. • Based on these insurance savings as well as other savings achieved, the 2023 operating budget for the Trust is $12,800,0
Slide 7: Phase II Strategy Discussion
Phase II Strategy Discussion Proprietary and Confidential – All data as of June 30, 2023 unless otherwise stated 6 w w w.c t lt ru s t .n e t
Slide 8: Phase II Strategy Discussion
Phase II Strategy Discussion Trust cap rates over the last 12 months have ranged from 7.3% - 7.75%. We remain focused on the full liquidation of the Trust within the Targeted Disposal Period. However, if this is not achievable at attractive pricing, the stability that the Master Lease provides, stro
Slide 9: Simon / Brookfield Joint Venture
Phase II Simon / Brookfield Joint Venture JCPenney 669 Total Locations - 205 Owned / 464 Leased Master Lease 133 Locations Simon / Brookfield Malls (165) Other Mall Owners (504) 118 Outside Master Lease 47 Under Master Lease 86 Under Master Lease 418 Outside Master Lease Proprietary and Confidential
Slide 10: Disclosures
Disclosures FORWARD-LOOKING STATEMENTS This news release contains certain “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identif
Slide 11: Proprietary and Confidential – All data as of June 30, 2023 unless otherwise stated
Proprietary and Confidential – All data as of June 30, 2023 unless otherwise stated 10 w w w.c t lt ru s t .n e t
Copper Property CTL Pass Through Trust — Investor Presentation (July 2023) on 6ix