Plaza Retail Reit · TSX:PLZ.UN
Plaza Retail Reit — Investor Presentation (June 2021)
34 slides from Plaza Retail Reit's investor presentation, June 2021
Slide 1: 2021 Investor Presentation
2021 INVESTOR PRESENTATION
Slide 2: Who is Plaza?
Who is Plaza? Quick Facts • Plaza focuses on per unit growth of NAV and FFO Ticker (TSX) PLZ.UN through accretive developments, redevelopments Tax deferred and proactive management of its existing portfolio. 68% distribution (2020) • Plaza is an owner, developer and redeveloper of Monthly distributi
Slide 3: Who is Plaza?
Who is Plaza? • Plaza has, over a 20-year history, consistently grown through development, redevelopment and value-add acquisitions, without dilution of unitholders, and has successfully re-cycled capital and organized creative financing to support this growth. • Plaza has demonstrated its ability t
Slide 4: Profile
Profile Existing Portfolio Under Development Pipeline 266 properties 12 projects 17 projects ~ 8.6M sq. ft. ~ 475,000 sq. ft.(1) ~ 485,000 sq. ft.(1) (1) at 100%. Certain projects under development are included in the existing portfolio
Slide 5: Investment Highlights
DRuGwaRT ® Investment iohlights
Slide 6: Investment Highlights
Investment Highlights Unlevered Yield 7.00% Cap Rate upon completion 6.00% Cost of Development 8.00% 9.00% 6.50% 7.00% Long term debt @ 65% LIV ($37,917) ($40,000) ($41,786) Equity Investment $12,083 $10,000 $8,214 Debt Service @ 3.75% interest, ($2,100) ($2,215) ($2314) 30-yr amort : ° Cash Flow $1
Slide 7: Rent Collection Statistics
Rent Collection Statistics Q1 - 2021 Q4 - 2020 Gross rent collected from tenants 98.6% 99.2% Rent abated 0.1% 0.1% Rent deferred with a definitive repayment schedule 0.7% - Remaining tenant accounts receivable (1) 0.6% 0.7% TOTALS 100% 100% (1) Remaining accounts receivable excludes allowance for do
Slide 8: Long-Term Mortgage Maturity Profile
Long-Term Mortgage Maturity Profile 180,000,000 6.00% 41.9% 160,000,000 4.90% 5.00% 4.39% 140,000,000 4.09% 3.85% 120,000,000 4.00% 3.44% 3.41% 100,000,000 3.84% 3.00% 80,000,000 60,000,000 2.00% 11.5% 10.6% 9.9% 40,000,000 9.0% 8.3% 8.8% 1.00% 20,000,000 0 0.00% 2021 2022 2023 2024 2025 2026 Therea
Slide 9: Plaza AFFO Multiple & Yield vs. Peers
Plaza AFFO Multiple & Yield vs. Peers 2021 est. AFFO Multiple (1) 19.1 20.0 17.9 17.9 18.0 15.4 16.1 15.0 15.0 14.2 16.0 13.6 14.0 12.0 Plaza Retail REIT is 10.0 undervalued relative to its 8.0 6.0 peers, as evidenced by the 4.0 AFFO multiple 2.0 - FCR CRR CHP REI SRU CRT APR AVG PLZ (excl PLZ) FCR
Slide 10: ESG Statement
ESG Statement Plaza is a responsible owner and developer, committed to conducting business in environmentally and socially responsible manners, with integrity and transparency, from the initial stage of investment, through to construction, operations and overall management. Plaza believes this helps
Slide 11: Portfolio Composition
Portfolio Composition
Slide 12: PLAZA's Portfolio Composition
PLAZA’s Portfolio Composition Regional 3.5% As at March 31, 2021 Non-Retail Local 1.8% 4.1% National 90.6% * Using base rent. Excluding developments/redevelopments & non-consolidated investments
Slide 13: Portfolio Composition: Revenue by Retail Category
PLAZA’s Portfolio Composition Revenue by Retail Category As at March 31, 2021 Pharmacy 29.4% Value Retail 11.6% Specialty 11.3% QSR’s 10.9% Grocery & Liquor 9.0% Other Essential 8.1% Retail Home Improvement 5.0% & Automotive Apparel 4.8% Restaurants 4.2% Entertainment & 2.9% Fitness Other 2.8%
Slide 14: Top 30 Tenants
Top 30 Tenants #1 24.7% #11 1.6% #21 0.8% #2 5.6% #12 1.5% #22 0.8% #3 4.8% #13 1.5% #23 0.7% #4 3.7% #14 1.2% #24 0.7% #5 3.6% #15 1.1% #25 0.7% #6 3.5% #16 1.1% #26 0.6% #7 3.1% #17 1.0% #27 0.6% #8 1.9% #18 0.9% #28 0.6% #9 1.7% #19 0.8% #29 0.6% #10 1.6% #20 0.8% #30 0.6% % of Base Rent Revenue
Slide 15: PLAZA's Geography
PLAZA’s Geography # of properties GLA (1) % of base rents(2) West 3 Properties 51,256 SF 1% Ontario 63 Properties 1,863,575 SF 18% Québec 91 Properties 2,151,314 SF 19% Atlantic 109 Properties 4,551,555 SF 62% TOTAL 266 Properties 8,617,700 SF 100% (1) At 100%, regardless of the Trust’s ownership in
Slide 16: Development & Redevelopment Projects
Development & Redevelopment Projects
Slide 17: The Shoppes at Galway, St. John's, NL
Newfoundland The Shoppes at Galway St. John’s, NL New Construction
Slide 18: Hogan Court Plaza, Bedford, NS
Nova Scotia Hogan Court Plaza Bedford, NS
Slide 19: Hogan Court Plaza, Bedford, NS
Nova Scotia Hogan Court Plaza Bedford, NS Construction Construction future Esso future IHOP
Slide 20: Silver Fox Plaza, New Minas, NS
Nova Scotia Silver Fox Plaza New Minas, NS New construction
Slide 21: Queen's Place Plaza, Liverpool, NS
Nova Scotia Queen’s Place Plaza Liverpool, NS Expansion of Pet Valu
Slide 22: SBT Chicoutimi, Chicoutimi, QC
Québec SBT Chicoutimi Chicoutimi, QC BEFORE REDEVELOPMENT
Slide 23: Plaza Hôtel-de-Ville, Rivière du Loup, QC
Québec Plaza Hôtel-de-Ville Rivière du Loup, QC Construction future Dollarama
Slide 24: Les Galeries Montmagny, Montmagny, QC
Québec Les Galeries Montmagny Montmagny, QC Construction future Dollarama
Slide 25: Plaza de l'Ouest, Sherbrooke, QC
Québec Plaza de l’Ouest Sherbrooke, QC Construction future SAQ
Slide 26: Plaza J.P. Perrault, Sherbrooke, QC
Québec Plaza J.P. Perrault Sherbrooke, QC Before Redevelopment
Slide 27: Northern Avenue Plaza, Sault Ste. Marie, ON
Ontario Northern Avenue Plaza Sault St. Marie, ON Redevelopment construction starting soon
Slide 28: 1000 Islands Plaza, Brockville, ON
Ontario 1000 Islands Plaza Brockville, ON BEFORE REDEVELOPMENT
Slide 29: Tri-City Plaza, Cambridge, ON
Ontario Tri-City Plaza Cambridge, ON FACADE REMODEL - AFTER FACADE REMODEL - BEFORE
Slide 30: Tri-City Plaza, Cambridge, ON
Ontario Tri-City Plaza Cambridge, ON Construction starting soon Demolition of Treasure Hunt
Slide 31: Tri-City Plaza, Cambridge, ON
Ontario Tri-City Plaza Cambridge, ON Future site plan
Slide 32: Taunton Road East, Oshawa, ON
Ontario 595 Taunton Road East Future site Oshawa, ON
Slide 33: Taunton Road East, Oshawa, ON
Ontario 595 Taunton Road East Oshawa, ON Future site plan 3 2 1 Taunton Road East 5 6 7 4
Slide 34: 1726 Huron Church Rd, Windsor, ON
Ontario 1726 Huron Church Rd Windsor, ON Demolition of vacant Rexall New Construction
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