Equity Lifestyle Properties, Inc. · NYSE:ELS
Equity Lifestyle Properties — Investor Presentation (March 2016)
14 slides from Equity Lifestyle Properties's investor presentation, Mar 14, 2016
Slide 1: Equity LifeStyle Properties
Equity LifeStyle Properties
Slide 2: Our Story
Our Story 1 One of the nation’s largest real estate networks with 388 properties containing 144,244 sites in 32 states and British Columbia Unique business model Own the land Low maintenance costs/customer turnover costs Lease developed sites High-quality real estate locations More than 80 propertie
Slide 3: Property Locations
Property Locations WA OR CA NV ID UT AZ NM TX OK LA AR MO IA MN WI IL OH MI PA WV KY TN MS AL GA FL SC NC MD DE ME NY VA KS NE SD ND MT WY CO 6 6 6 3 3 9 4 4 4 4 2 2 3 2 8 17 37 11 9 7 7 26 6 6 11 4 16 14 14 4 6 5 10 IN
Slide 4: Steady, Predictable Revenue Streams
Steady, Predictable Revenue Streams Property/Site composition • 202 manufactured/resort home communities 71,700 sites • 186 RV resorts 72,600 sites Annuals 26,900 Seasonal 10,800 Transient 10,800 Membership sites 24,100 Annual Right to Use 7.2% Annual RV 15.3%Annual MH 68.4% Note: (1) Property reven
Slide 5: Our Lifestyle Options
Our Lifestyle Options Customers own the units they place on our sites Manufactured homes Resort cottages (park models) Recreational vehicles • We offer a lifestyle and a variety of product options to meet our customers’ needs • We seek to create long-term relationships with our customers Manufacture
Slide 6: Favorable Customer Demographics
Favorable Customer Demographics • The population of people age 55 and older is expected to grow 26% from 2016 to 2031 • Roughly 10,000 Baby Boomers will turn 65 every day through 2030 U.S. Population Over Age 55 (in thousands) New Residents MH Average age: 58 years RV Average age: 55 years 120,000 1
Slide 7: Track Record
Track Record Item IPO Year—1993 2016 Properties Sites States FFO Per Share (1) Normalized FFO Per Share (1) Common Stock Price (2) Enterprise Value (3) Dividend Paid Cumulative (4) Cumulative Total Return (5) S&P 500 Total Return (5) 41 12,312 16 $0.47 $0.47 $6.44 $296 million ——388 144,244 32 $3.20
Slide 8: Consistent Same Store NOI Growth and Outperformance
Consistent Same Store NOI Growth and Outperformance ELS has maintained positive same store NOI growth in all quarters since at least Q3 1998. 3Q 98 1Q 99 3Q 99 1Q 00 3Q 00 1Q 01 3Q 01 1Q 02 3Q 02 1Q 03 3Q 03 1Q 04 3Q 04 1Q 05 3Q 05 1Q 06 3Q 06 1Q 07 3Q 07 1Q 08 3Q 08 1Q 09 3Q 09 1Q 10 3Q 10 1Q 11 3Q
Slide 9: Comparison of ELS to Multifamily
Comparison of ELS to Multifamily ELS compounded Same Store NOI growth rates significantly outperformed the REIT Multifamily industry since 1999 Same Store NOI Indexed Growth (1)( Note: (1) Source: Citi Investment Research, May 2015. Same Store Indexed Growth assumes initial investment of $100 multip
Slide 10: Capital Structure
Capital Structure As of January 31, 2016 (in millions) Total enterprise value is $8.3 billion • Debt to enterprise value is 25.7% • $400 million available line of credit Debt Maturity $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 2016 2017 2018 2019 2020 2021 2022 2023 2025 2028 2034
Slide 11: Performance Update
Performance Update 198 Manufactured Home Communities(1) Core(2) occupancy of 93% as of 02/29/2016 Core occupancy has grown 25 consecutive quarters through 12/31/2015 Core community base rental income growth for the year to date ended 02/29/2016 is 4.3%(3) 185 RV Resorts(1) Core resort base rental in
Slide 12: Safe Harbor Statement
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: The forward-looking statements contained in this presentation are subject to certain economic risks and uncertainties described under the heading “Risk Factors” in our 2015 Annual Report on Form 10-K. See Form 8-K file
Slide 13: Non-GAAP Financial Measures
Non-GAAP Financial Measures Funds from Operations (“FFO”) is a non-GAAP financial measure. We believe FFO, as defined by the Board of Governors of the National Association of Real Estate Investment Trusts (“NAREIT”), is generally an appropriate measure of performance for an equity REIT. While FFO is
Slide 14: Equity LifeStyle Properties
Equity LifeStyle Properties Two North Riverside Plaza, Chicago, Illinois 60606 800-247-5279 | www.EquityLifeStyle.com
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