Chiron Real Estate Inc. · NYSE:XRN
Chiron Real Estate — Global Medical REIT — Investor Presentation (June 2023)
19 slides from Chiron Real Estate's investor presentation, Jun 6, 2023
Slide 1: Nimble. Tenacious. Disciplined. Investor Presentation June 2023
NIMBLE. TENACIOUS. DISCIPLINED. Investor Presentation June 2023
Slide 2: Mission Statement and Strategy
Our primary mission is to attain earnings growth and dividend stability by maximizing the investment spread in our healthcare real estate assets. Our strategies to achieve this mission are as follows: • Asset Type - primarily invest in off - campus medical office and post - acute, in - patient medic
Slide 3: A Strategy That Delivers Value
3 A STRATEGY THAT DELIVERS VALUE $1.5B Investments in Real Estate Gross $0.6B Market Cap* 7.8% Weighted Average Cap Rate 9.4% Dividend Yield* *Based on closing price of the Company’s common stock of $8.89 on June 2, 2023. All other data as of March 31, 2023. Atrium Health – Winston - Salem, NC
Slide 4: Proven Acquisition Performance
PROVEN ACQUISITION PERFORMANCE $94 $207 $472 $648 $906 $1,143 $1,343 $1,484 $1,481 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 At IPO 2016 2017 2018 2019 2020 2021 2022 2023* 41% CAGR Since IPO Gross Real Estate Assets in Millions 4 *As of March 31, 2023.
Slide 5: High Performing Real Estate at the Forefront of Healthcare
HIGH PERFORMING REAL ESTATE AT THE FOREFRONT OF HEALTHCARE 5 4.1X RENT COVERAGE 2.1% WEIGHTED AVERAGE RENT ESCALATIONS 6.0 WEIGHTED AVERAGE LEASE TERM 188 BUILDINGS 274 TENANTS 97% OCCUPANCY 4.9M Net Leasable Area (SF) (as of March 31, 2023) *Occupancy and asset type percentages are based on annuali
Slide 6: Stable and Growing Dividend
STABLE AND GROWING DIVIDEND* 6 • Strong dividend yield of 9.4% in rising interest rate environment. • Stable cash flow with 97% portfolio occupancy. • No dividend reductions during the COVID pandemic due to strong tenant base. *Based on closing price of the Company’s common stock of $8.89 on June 2,
Slide 7: Investing in the Future of Healthcare
7 INVESTING IN THE FUTURE OF HEALTHCARE City Hospital at White Rock – Dallas, TX Encompass – Mesa, AZ Southlake Heart & Vascular Institute – Clermont, FL Mission Health – Livonia, MI
Slide 8: A Distinct Approach
A DISTINCT APPROACH 8 • Longer - term leases • Annual rent escalations • Bedroom communities • Secondary markets with favorable demand drivers • Positioned to benefit from decentralization trends • Uncover high retention/patient - centric acquisition opportunities • Sustainable cash flows • Attracti
Slide 9: Investing in the Future of Healthcare
INVESTING IN THE FUTURE OF HEALTHCARE 9 90 % of Americans age 50 and older want to age in place. 1 65 % of seniors between the ages of 60 and 70 find it “very easy” to live independently. 2 As American’s choose to age in place, demand for conveniently located healthcare will continue to increase. 1)
Slide 10: Quote from Chief Operating Officer
10 “We don’t look at investing in real estate as a single activity to be completed but as the first step in building an enduring relationship.” Danica Holley Chief Operating Officer NOMS – Sandusky, OH
Slide 11: Strong, Diverse Healthcare Tenant Base
11 DOMINANT LOCAL PHYSICIAN GROUPS FOR - PROFIT SYSTEMS AFFILIATIONS AND SURGICAL OPERATOR PARTNERSHIPS STRONG, DIVERSE HEALTHCARE TENANT BASE NOT - FOR - PROFIT HEALTH SYSTEMS AFFILIATIONS
Slide 12: Tenant Testimonial: Gastro One
“With an attentive, flexible and creative approach, Global Medical REIT worked with us to structure a transaction that met our goals and helped propel our growth. GMRE has been a helpful partner and resource since our closing.” David Harano former CEO, Gastro One 12
Slide 13: Quote from Chief Financial Officer
“We continue to strengthen our balance sheet and improve our credit metrics to build a strong foundation for our future growth.” Robert Kiernan Chief Financial Officer and Treasurer 13 Legent Hospital for Special Surgery – Plano, TX
Slide 14: Predominately Fixed-Rate Debt Profile and Access to Multiple Capital Sources
PREDOMINATELY FIXED - RATE DEBT PROFILE AND ACCESS TO MULTIPLE CAPITAL SOURCES 14 Liquidity Profile* Capital Source Availability Unutilized Revolver Capacity $252 million Unutilized Common Equity ATM Capacity $298 million Fixed - to - Floating Rate Debt (1) Fixed - Rate: 80% Floating – Rate: 20% Rev
Slide 15: Institutional Knowledge, Hands-On Approach
INSTITUTIONAL KNOWLEDGE, HANDS - ON APPROACH Jeffrey Busch — Chairman, Chief Executive Officer and President 20+ years of experience in healthcare, real estate development, management and investment Robert Kiernan — Chief Financial Officer and Treasurer 30+ years of experience in financial accountin
Slide 16: Highly Skilled and Diverse Board
HIGHLY SKILLED AND DIVERSE BOARD 16 Jeffrey Busch — Chairman, Chief Executive Officer and President 20+ years of experience in healthcare, real estate development, management and investment. Matthew Cypher, PH.D — ESG Committee Chair, Nominating and Governance Committee Member Professor at Georgetow
Slide 17: Committed to Corporate Responsibility
• Working with tenants to improve energy consumption, carbon emissions and efficiency • Board of Directors formed an ESG Committee for oversight of corporate sustainability issues • Continue to improve Company’s GRESB score • Completed an Employee Engagement Survey to capture information on employee
Slide 18: Forward Looking Statement
FORWARD LOOKING STATEMENT Certain statements contained herein may be considered “forward - looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and it is the Company’s intent that any such statements be protected by the safe harbor create d thereby. These f
Slide 19: Disclosures
DISCLOSURES Rent Coverage Ratio and Other Matters For purposes of calculating our portfolio weighted - average EBITDARM coverage ratio (“Rent Coverage Ratio”), we excluded credit - rated tenants or their subsidiaries for which financial statements were either not available or not sufficiently detail
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