Us Masters Residential Property Fund · ASX:URF
Us Masters Residential Property Fund — Q3 2023 Earnings Presentation
12 slides from Us Masters Residential Property Fund's earnings presentation, Nov 22, 2023
Slide 1: Disclaimer
Disclaimer This presentation is prepared by the US REIT, and is authorised for release by E&P Investments Limited (ACN 152 367 649 | AFSL 410 433) (Responsible Entity) as the Responsible Entity for the US Masters Residential Property Fund (ARSN 150 256 161) (Fund). For personal use only This present
Slide 2: Q3 2023 Update
For personal use only Q3 2023 Update 22 November 2023
Slide 3: Q3 2023 Update
Q3 2023 Update • Seven property sales during the quarter for a total of US$8.4 million. For personal use only • Global Atlantic loan reduced by US$4.2 million during the quarter, with the Fund continuing to use surplus capital toward continued URF Ordinary Unit buybacks and other capital management
Slide 4: Asset Sales Program
Asset Sales Program • As of 30 September 2023, the Fund has closed on the sale of 20 assets for a total value of US$30.2 million during the year. For personal use only • As of 30 September 2023, the Fund had US$16 million under contract or with an accepted offer, US$33 million on the market, and US$
Slide 5: Capital Management
Capital Management Buyback Program: January to September 2023 Ordinary Shares Total Consideration For personal use only Buyback Program (million) $A milions Q3 2023 10.14 $3.08 30 Sept. 2023 YTD 40.37 $12.03 Global Atlantic Debt Levels: January to September 2023 US$ Balance at US$ Balance at 31-Dec-
Slide 6: Capital Management
Capital Management 30 September 2023 $A millions Cash Balance $32.90 For personal use only Less: Global Atlantic Liquidity Covenant -$15.54 Less: Working Capital -$7.77 Cash available for capital management $9.59 Source: US REIT, as at 30 September 2023. AUD/USD 30 September 2023 spot rate of 0.6435
Slide 7: Net Operating Income
Net Operating Income The Fund’s trailing 12-month same-home 1-4 family NOI to 30 September 2023 was US$16.9 million. For personal use only Source: US REIT. Figures may not sum due to rounding. Note: “Same-home” assets by segment will not match the total portfolio distribution as it excludes assets h
Slide 8: General and Administrative expenses ($A)
General and Administrative expenses ($A) For personal use only Source: US REIT. Figures may not sum due to rounding. AUD/USD average rate of 0.7513, 0.6947 and 0.6688 for 2021, 2022 and YTD Q3 2023 respectively. 8
Slide 9: Funds from Operations (FFO)
Funds from Operations (FFO) Excluding disposal costs and non-recurring items, the FFO loss for Q3 2023 YTD was A$2.7 million. Annualised result represents an 8% improvement from full-year 2022. A$ 2018 2019 2020 2021 2022 Q3 YTD 2023 For personal use only Revenue from Ordinary Operations 38.1 49.7 4
Slide 10: Responsible Entity Update
Responsible Entity Update • As advised during Q2 2023, in line with E&P Financial Group’s stated For personal use only strategic objective to exit non-core businesses, E&PIL continue to work on a potential internalisation of the RE of URF. • It is still expected that any proposal to internalise the
Slide 11: For personal use only
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Slide 12: For further information
For further information For personal use only Investor Relations URFInvestorRelations@usmrpf.com 12
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