One Liberty Properties, Inc. · NYSE:OLP
One Liberty Properties — Investor Presentation (September 2014)
34 slides from One Liberty Properties's investor presentation, Sep 16, 2014
Slide 1: One Liberty Properties, September 2014
ONE LIBERTY PROPERTIES, INC. One Liberty Properties September 2014 onelibertyproperties.com
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain information contained in this presentation, together with other statements and information publicly disseminated by One Liberty Properties, Inc. (the “Company”), constitute forward looking statements within the meaning of Section 27A of Securities Act of 1933, as amende
Slide 3: Why Own OLP
Why Own OLP e Stockholder return & dividend e Disciplined track record through economic cycles eFocus on real estate fundamentals e Active portfolio management eExperienced management team
Slide 4: Stockholder Return
30% 25% 20% 5% Stockholder Return NAREIT Equity Index 5-Year Total Return 17.9% ‘S&P 500 28.7% ‘OUP
Slide 5: Stockholder Return
Stockholder Return 14% 15-Year Average Annual Total Return 12% 10% 8% 6% MN 2% 0% + ‘S&P 500 NAREIT Equity Index ‘OUP
Slide 6: Stable Operations
$1.90 $1.80 $1.70 $1.60 $1.50 Stable Operations Historic FFO Per Share (1) 81.9402) $2.00 S187 $1.61 S90 $1.59 $1.80 $1.70 2011 2012 2013 2014 $1.60 $1.60 S184 Historic AFFO Per Share (1) $1.92 @ S174 $1.65 2011 2012 2013 2014 (1) Aroconezason of et income por share, as datomindin accordance with GA
Slide 7: Dividend History
$1.50 $1.45 $1.40 $1.35 $1.30 $1.25 Dividend History $1.32 $1.34 $1.48 (1) $1.42
Slide 8: Financial & Portfolio Summary
Financial & Portfolio Summary Number of Properties (1: Square Footage «: Current Occupancy «: Current Market Cap w: Total Enterprise Value «): Shares Outstanding «: Dividend Yield @: 113 7 million 99% + $343 million $655 million 16.1 million 7.14%
Slide 9: Stable Occupancy Rates
100.0% 90.0% 80.0% Stable Occupancy Rates 100.0% 100.0% 100.0% 99.6% 98.6% 98.5% 98.4% 97.5% 97.6% 99.9% «9 2005 2008 2007 2008, 2009 2010 2011 2012 2013 2014 (1) Occupancy rate as of 620116
Slide 10: Diversified Portfolio
Diversified Portfolio % of 2014 Number of 2014 Contractual Contractual Properties Rental Income « Rental Income Retail — General 45 $ 17,275,822 30.8% — Furniture 14 $ 5,591,736 10.0% — Restaurant 19 $ 3,672,061 6.5% — Office Supply 8 $ 3,098,079 5.5% — Supermarket 2 $ 2,185,831 3.9% Industrial 14 $
Slide 11: Properties in States
113 properties in 30 states . a 4) ie por Sy |e oat . * eis * a § BY ws os ° Highest State Concentration by 2014 Contractual Rental Income Number of 2014 Contractual % of 2014 Contractual Propertios Rental Incomo Rental income 6,623,077 5,794,924 New Jersey 5,236,040 Georgia 14 4,777,922 8.5% South
Slide 12: Diversified Tenant Base
Diversified Tenant Base p Tenants Number of S&P Credit Tenant Properties Rental Income ting ( Haverty Furniture Companies, Inc. (NYSE: HVT) 11 $ 4,568,723 5 Not Rated Office Depot, Inc. (NYSE: ODP) 8 $ 3,098,079 5.5% B-, Outlook Stable LA Fitness International, LLC 3 $ 2,951,617 5.3% Not Rated North
Slide 13: Lease Expirations
% of 2014 Contractual 2014 Contractual Rental Income Approximate Square _% of Square Feet. Year Ending Number of Rental Income Under Represented by Feet Subject To Represented by December 31,_Expiring Leases __Expiring Leases Expiring Leases Expiring Leases __ Expiring Leases 2014 2 $ 882,953 16% 11
Slide 14: Steady Revenue Growth
{8 in millions) Steady Revenue Growth Total Revenue $60 $50 $30 $20 $10 $35.2 ‘al $36.7 $40.9 $43.8 1.0 $57.6 (1) | d | 2008 Represents the annualized ttl revenue basad on the sx months ended GAD/14 excluding ana 2010 2011 2012 14
Slide 15: Acquisition Track Record
Acquisition Track Record * Acquired $107.5 million properties in 2013 and $32.9 million through August 2014 © Excludes 2 properties under contract for a total of $16.3 million subject to completion of due diligence © Current pipeline of diverse opportunities in excess of $250.0 million e Transaction
Slide 16: Recent Acquisitions
Recent Acquisitions Date Property kee Fees GR oreo Acquired _ Type Tenant (or dibia) city State Expiration Price Yield «(atime of pure: 01/21/2014 Retail Total Wine & More Greensboro. NG 1081/2017 $ 2,971,000 9.6% — AllCash 01/2312014 Restaurant Chuck E. Cheese Indianapolis. IN. 06/80/2018 $ 2,138,0
Slide 17: Recent Mortgages
Recent Mortgages Date Property Interest Financed Type Tenant (or di City State Rate 09/09/2014 Retail Hobby Lobby Woodbury MN $ 3,200,000 10/01/2024 4.50% 08/22/2014 Restaurant Hooters Myrtle Beach & Concord SCINC $ 3,317,600 09/01/2024 4.28% 08/19/2014 Industriel Mitsubishi Melville NY $ 3,000,000
Slide 18: Laddered Mortgage Debt Maturities
Laddered Mortgage Debt Maturities., ($ in millions) e Weighted average interest rate of 5.11% on fixed rate debt © There is approximately $8.0 million ($0.50 per share) of scheduled amortization of mortgages for the 12 months ending June 30, 2015 Balloon Payments Due For the Twelve Months Ending Jun
Slide 19: Acquisition Case Study — Ground Lease
Acquisition Case Study — Ground Lease In June 2014, acquired 14.35 acres of land located in Sandy Springs, GA which was simultaneously ground leased to an Year 1 Ground Rent to OLP $ 585,913 experienced multi-family operator The land is improved by a class A 215,124 square foot 196 unit garden style
Slide 20: Acquisition Case Study — Retail
Acquisition Case Study — Retail In May 2014, acquired a retail property in Woodbury, MN and leased to Hobby Lobby, Inc. The property is located 18 miles east of Minneapolis and 8 miles east of St. Paul Hobby Lobby had $3.3 billion in revenue and operates over 589 stores. This is their first store in
Slide 21: Acquisition Case Study — Industrial
Acquisition Case Study — Industrial * Acquired a distribution facility in Joppa, MD in June 2014 in a short-term sale-leaseback . transaction, net leased to a wholly owned Net Equity Invested $11,650,000. subsidiary of Proctor & Gamble Year 1 Rental Income $905,485 © 19 miles northeast of downtown B
Slide 22: Experienced Management Team
Experienced Management Team Chief Executive Officer since 2008, President since 2006, Director since 2002 Senior Vice President of First Washington Realty Inc. from 2004 to 2005. A joint venture with Patrick J. Callan, Jr. CalPERS that controlled 100 shopping centers (13 millon square feet) which wa
Slide 23: Top Tenants Profiles
Slide 24: Havertys Furniture — Tenant Profile
Havertys Furniture — Tenant Profile © Tenant: Haverty Furniture Companies, Inc. (NYSE: * 11 properties aggregating 612,130 square feet HVT) Duluth (Atlanta), GA. © Represents 8.1% of 2014 contractual rental income — Fayetteville (Atlanta), GA © Full service home furnishings retailer founded in — Wic
Slide 25: Representative Havertys — Cedar Park (Austin), TX
Representative Havertys — Cedar Park (Austin), TX © Building: 50,810 SF on 5.27 acres. Built in 2001. Havertys has operated at this location for more than 13 years. © 3 Mile Demographics (source: Stes Usa, 2016) — Population: 82,487 — Average HH Income: $84,638 © Location: 11091 Pecan Park Blvd, Ced
Slide 26: Representative Havertys — Richmond, VA
Representative Havertys — Richmond, VA Building: 38,788 SF on 2.16 acres. Built in 1979 and renovated and expanded in 2001, Havertys has operated at this location for more than 13 years. 3 Mile Demographics (source: Stes Usa, 2014), = Population: 55,451 — Average HH Income: $104,024 Location: 11501
Slide 27: Office Depot — Tenant Profile
Office Depot — Tenant Profile © 8 properties representing 206,483 SF % of 2014 Contractual Rental Income Chicago, IL: 1.0% Kennesaw (Atlanta), GA: 1.0% — Cary (Raleigh-Durham), NC: 0.8% Tenant: Office Depot, Inc. (NYSE: ODP) Represents 5.5% of 2014 contractual rental income Leading global provider o
Slide 28: Representative Office Depot — Chicago, IL
Representative Office Depot — Chicago, IL Building: 23,939 SF on 2.62 acres. Buill in 1994. Office Depot has operated at this location for more than 20 years. * 3 Mile Demographics (source: Stes usa, 2014) Population: 545,817 Average HH Income: $92,463 Location: 2928 N. Ashland Ave, Chicago, IL; 4 m
Slide 29: Representative Office Depot — Cary, NC
Representative Office Depot — Cary, NC Building: 33,490 SF on 2.68 acres. Built in 1995. Office Depot has operated at this location for more than 19 years. 3 Mile Demographics soue:sies Usa, 2014 — Population: 65,437 — Average HH Income: $74,970 Location: 2011 Walnut Street, Cary, NC; 5 miles west o
Slide 30: LA Fitness — Tenant Profile
LA Fitness — Tenant Profile Tenant: LA Fitness International LLC Representative LA Fitness — Secaucus, NJ Represents 5.3% of 2014 contractual rental income * Building: 44,863 SF on 1.229 acres LAFitness currently operates over 500 clubs in 21 states The company was founded in 1984 and is headquarter
Slide 31: Northern Tool & Equipment — Tenant Profile
Northern Tool & Equipment — Tenant Profile * Tenant: Northern Tool & Equipment * Location: 1850 Banks Road, Fort Mill, SC * Represents 4.7% of 2014 contractual rental income ‘© Building: 701,595 SF on 40 acres * A large United States distributor of industrial grade and * 3 Mile Demographics (source:
Slide 32: Ferguson Enterprises — Tenant Profile
Ferguson Enterprises — Tenant Profile * Tenant: Ferguson Enterprises, Inc. © Represents 4.4% of 2014 contractual rental income * One of the largest United States distributors of plumbing supplies, pipes, valves and fittings Location: 4501 Hollins Ferry Rd, Baltimore MD 5 miles south of downtown Balt
Slide 33: Balance Sheet Information
Balance Sheet Information Gross Assets»: $675.4 million Total Debt/Gross Assets «: 48.9% Fixed Rate Debta: 88.8% Debt Service Coverage Ratiow: pie) Fixed Charge Coverage Ratiow: 2.0 FFO Payouts: 80.4% + Liquidity available to acquire in excess of $180 million of properties as of September 2, 2014 +
Slide 34: GAAP Reconciliation
GAAP Reconciliation The following table provides a reconciliation of net income per common share (on a diluted basis) in accordance with GAAP to FFO and AFFO: 2014 (1) 2013 2012 2011 Net income $ 090 $ 114 $ 216 $ 0.96 Add: depreciation of properties 0.90 0.78 0.66 0.66 Add: our share of depreciatio
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