Global Net Lease, Inc. · NYSE:GNL
Global Net Lease — Investor Presentation (November 2015)
26 slides from Global Net Lease's investor presentation, November 2015
Slide 1: Investor Presentation November 2015
Investor Presentation November 2015
Slide 2: Investment Highlights
Investment Highlights High-Quality, Diversified Diversified by asset type, geography, tenant and tenant industry Focus on single tenant, net lease, income producing, mission critical assets in the U.S., UK, Germany, Net Lease Portfolio the Netherlands and Finland Strong, Creditworthy 79% of NO
Slide 3: 3Q 2015 Key Highlights
3Q 2015 Key Highlights Financial Cash NOI $43.3 million AFFO $31.2 million AFFO per diluted share $0.18 Dividend Yield – annualized (1) 7.7% Leverage Net Debt / Enterprise Value (2) 43.3% Euro / GBP / US $ Exposure 41% / 38% / 21% Weighted Average Interest Rate Cost 2.5% Fixed / Floating Rate Debt 6
Slide 4: Best in Class Portfolio
Best in Class Portfolio (2) Geographic Breakdown Average Remaining Lease Term (Years) 100% 16.0 15.0 10% 14.0 80% 37% 40% Comps Average: 10.4 years 11.5 11.5 12.0 11.4 10.8 10.1 60% 10.0 8.9 9.6 8.7 100% 100% 100% 100% 100% 100% 100% 8.0 90% 6.2 40% 6.0 64% 60% 4.0 20% 2.0 0% 0.0 (3) (1) GPT LXP NNN
Slide 5: High-Quality Portfolio
High-Quality Portfolio GNL owns a large scale portfolio of 329 net lease assets diversified across five countries, 86 tenants and 39 industries as of September 30th, 2015. Portfolio Overview Top Ten Tenants % of Portfolio # of Properties 329 Tenant Rating(1) Country Property Type NOI (2) Total Squar
Slide 6: Strong, Diversified Portfolio
Strong, Diversified Portfolio 79% of NOI is derived from investment grade and implied investment grade tenants(1)(2). Geography (1) Credit Rating (1) (2) The Netherlands Non-Investment Germany 3.6% Grade 9.5% Finland 21% UK 7.2% Implied Investment 20.1% Grade 35% U.S. Investment Grade 59.6% 44% Asse
Slide 7: Significant Global Opportunity
Significant Global Opportunity GNL is well-positioned to capitalize on incremental investment opportunities in the U.S. and Western Europe. $6.9 trillion of owner-occupied real estate in the U.S. and Europe creates large scale net lease opportunities for GNL. Target market opportunity in the U.S
Slide 8: Focused Investment Strategy Creates Value
Focused Investment Strategy Creates Value Well-defined investment strategy and rigorous underwriting process used to assemble high-quality, long duration, diversified, net lease property portfolio in the U.S. and Europe. Investment Strategy – Key Criteria Disciplined Acquisition Process U.S., UK,
Slide 9: Proven Track Record
Proven Track Record Fully integrated external management team and sub-advisor creates highly scalable platform with visible acquisition pipeline generated by proven, country focused origination network. Manager / Sub-Advisor Long term, relationship Geographic Focus U.S. Europe Real Estate Acquired (
Slide 10: Internalized Advantages Embedded in an External Structure
Internalized Advantages Embedded in an External Structure Long-term management agreement provides shareholders with advantages historically only associated with internal management structures. Board Control Board of Directors has the ability to request a change of underperforming senior managers P
Slide 11: Management Agreement – Summary Terms
Management Agreement – Summary Terms Base Management • Initial base fee of $18mm per annum (implied 0.75% of AUM)(1) Fee • To be increased by 1.25% on new equity raised • Eliminated acquisition fees, financing fees, and reimbursement of internal acquisition expenses (2) • Incentive fee tied to Core
Slide 12: Conclusion
Conclusion Assembled high-quality net lease property portfolio GSA - International Falls, MN Originated all assets in portfolio Established local presence and expertise in our markets Western Digital - San Jose, CA Designed cost-effective management structure RWE – North Rhine, Germany Cre
Slide 13: The Platform
The Platform
Slide 14: Experienced Management Team
Experienced Management Team Externally advised by AR Capital and Moor Park, providing a best in class management team across the U.S. and Europe. Executive Management Team Moor Park Capital Scott Bowman Gary Wilder Chief Executive Officer Chairman / Co-Founder Previously held executive leadership
Slide 15: Strong Corporate Governance
Strong Corporate Governance Board of Directors Corporate Governance Majority independent Board of Directors, with additional Sue Perrotty Non-Executive Chairman / Independent Director oversight provided by an Audit Committee comprised Audit Committee Chair solely of independent directors Presi
Slide 16: Broad, Multi-Disciplinary Acquisition Footprint
Broad, Multi-Disciplinary Acquisition Footprint GNL Board of Directors Sue Perrotty William Kahane Edward Rendell Abby Wenzel Exec. Chairman Director Independent Independent GNL Management Team / Investment Committee Scott Bowman Andrew Winer Patrick Goulding CEO President & CIO CFO U.S. Team Brian
Slide 17: Superior Sourcing Network
Superior Sourcing Network RELATIONSHIP Origination network targeted to BROKERAGE transactions with advantaged FIRMS position Disciplined and rigorous approach to underwriting Capacity to underwrite complexity and ADVISORS structure creatively Portfolios / large-scale transactions Investments
Slide 18: Vigorous Asset Management Creates Value
Vigorous Asset Management Creates Value Combined executive leadership with local practitioners to provide superior asset management expertise across the U.S. and Europe. 11 full-time asset management personnel in the U.S. and Europe Checks Management Compliance / Negotiation Credit Walkthrough
Slide 19: Legal Notices
Legal Notices
Slide 20: Forward Looking Statements
Forward Looking Statements The statements in this presentation that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results or events to be materially different. Forward-looking statements may includ
Slide 21: Risk Factors
Risk Factors The following are some of the risks and uncertainties, although not all risks and uncertainties, that could cause our actual results to differ materially from those presented in our forward-looking statements: All of our executive officers are also officers of our Advisor and other Am
Slide 22: Projections
Projections This presentation includes estimated projections of future operating results. These projections were not prepared in accordance with published guidelines of the SEC or the guidelines established by the American Institute of Certified Public Accountants for preparation and presentation of
Slide 23: Definitions
Definitions Funds from operations (“FFO”) Due to certain unique operating characteristics of real estate companies, as discussed below, the National Association of Real Estate Investment Trusts ("NAREIT"), an industry trade group, has promulgated a measure known as funds from operations ("FFO"), whi
Slide 24: Definitions (cont'd)
Definitions (cont’d) Funds from operations (“FFO”) (Cont’d) We consider FFO, Core FFO and AFFO useful indicators of our performance. Because FFO calculations exclude such factors as depreciation and amortization of real estate assets and gains or losses from sales of operating real estate assets (wh
Slide 25: Definitions (cont'd)
Definitions (cont’d) Adjusted funds from operations (“AFFO”) We exclude certain income or expense items from AFFO that we consider more reflective of investing activities, other non-cash income and expense items and the income and expense effects of other activities that are not a fundamental attrib
Slide 26: Definitions (cont'd)
Definitions (cont’d) Adjusted Earnings before Interest, Taxes, Depreciation and Amortization, Net Operating Income, Cash Net Operating Income and Adjusted Cash Net Operating Income. We believe that earnings before interest, taxes, depreciation and amortization adjusted for acquisition and transactio
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