One Liberty Properties, Inc. · NYSE:OLP
One Liberty Properties — Investor Presentation (June 2012)
28 slides from One Liberty Properties's investor presentation, Jun 7, 2012
Slide 1: One Liberty Properties June 2012
One Liberty Properties June 2012 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: One Liberty Overview
One Liberty Overview Internally managed net lease equity REIT focused on U.S. single tenant commercial real estate Weighted average lease term of 8.2 years 100 properties totaling 5.5 million square feet, including six joint venture properties Diversified portfolio by tenant, property & geography 61
Slide 4: Investment Highlights
Investment Highlights 7.39% dividend yield (1) High performing portfolio with embedded growth At least 97.5% year end occupancy for each of the last five years 2012 contractual rental income (2) of $45.4 million represents a 9.1% increase over 2011(3) Manageable debt maturities over the next three y
Slide 5: Management Team
Management Team Fredric H. Gould Chairman Chairman of the Board since June 1989, Chief Executive Officer from December 1999 to December 2001 and from July 2005 to December 2007 Chairman of the Board of BRT Realty Trust (NYSE:BRT), a mortgage REIT, since 1984 Chairman of the managing general partner
Slide 6: Company History
Company History A disciplined acquirer and seller of assets 2001 – Active net lease buyer including movie theaters 2002 & 2003 – Completed follow-on offerings of $35.1million and $64.5 million 2006 – $152 million sale of JV movie theatres portfolio for OLP profit of $26.9 million 2007 – Made no inve
Slide 7: Broad Geographic Reach
Broad Geographic Reach 7 Portfolio spans 100 properties in 29 states (5.5 million square feet) Wholly-Owned Properties Number of Properties 2012 Contractual Rental Income Approximate Building Square Feet New York 11 $6,439,179 621,879 Texas 10 $4,720,553 421,308 Georgia 10 $3,827,645 318,466 Pennsyl
Slide 8: Properties By Sector (Excluding JV Properties)
Properties By Sector (Excluding JV Properties) 8 Type of Property Number of Tenants Number of Properties 2012 Contractual Rental Income Percentage of 2012 Contractual Rental Income Retail 64 74 $27,648,425 60.9% Industrial 8 9 $5,788,821 12.8% Office 3 3 $4,702,310 10.4% Flex 3 2 $2,637,196 5.8% Hea
Slide 9: Diverse Tenant Base
Diverse Tenant Base Top 5 Tenants (1) Source: S&P Website, www.standardandpoors.com 9 Tenant Percent of 2012 Contractual Rental Income S&P Credit Rating (1) Haverty Furniture Companies, Inc. (NYSE: HVT) 9.7% Not Rated Office Depot, Inc. (NYSE: ODP) 7.8% B-, Outlook Stable Ferguson Enterprises, Inc.
Slide 10: Stable Financial Performance
Stable Financial Performance Total Revenue ($ in millions) Proven ability to lease properties and effectively recycle capital Year end occupancy of at least 97.5% in each of the past 5 years (based on square footage) Occupancy remains at 97.6% at June 1, 2012 Year End Occupancy 10
Slide 11: Manageable Lease Expirations
Manageable Lease Expirations (1) Lease expirations assume tenants do not exercise existing renewal options. (2) Includes a property in which we have a tenancy in common interest. (3) Excludes (i) one vacant property (51,000 square feet), (ii) two vacant spaces (aggregating 4,600 square feet) at a mu
Slide 12: Strong Balance Sheet
Strong Balance Sheet 98% of the mortgages payable are fixed rate and non-recourse Line of Credit is OLP’s only floating rate recourse debt $35.4 million is available on the Line of Credit as of June 1, 2012 45% Total Debt ($240.4 million) / Total Assets ($536.9 million) (1) Amortizing principal, lad
Slide 13: Growth Opportunities
Growth Opportunities Demonstrated ability to purchase assets that have solid cash-flow characteristics Increasing scale through broad geographic reach Proven capability to identify and understand the intrinsic value of a property Growth through acquisition of select accretive properties Secure long-
Slide 14: Acquisition Case Study – Industrial
Acquisition Case Study – Industrial Acquired an industrial building in Durham, NC in July 2011 net leased to Federal Express Corporation Property is less than ½ mile west of the 22.5 million square foot Research Triangle Park. More than 170 companies representing more than a dozen industries call th
Slide 15: Acquisition Case Study – Fitness
Acquisition Case Study – Fitness Acquired a fitness club in Hamilton (Cincinnati), OH in August 2011 net leased to LA Fitness International LLC, a nationwide operator of more than 500 health clubs Property is across the street from the 635,000 square foot Bridgewater Falls lifestyle center. Bridgewa
Slide 16: Top Tenants Profiles
Top Tenants Profiles
Slide 17: Havertys Furniture – Tenant Profile
Havertys Furniture – Tenant Profile 17 Tenant: Haverty Furniture Companies, Inc. (NYSE: HVT) Largest tenant representing 9.7% of 2012 contractual rental income Full service home furnishings retailer founded in 1885 Publicly held company since 1929 119 showrooms in 82 cities across 17 states in the S
Slide 18: Havertys – Cedar Park (Austin), TX
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 9 years. 3 Mile Demographics (Source: The Nielsen Company, 2010) Population: 85,746 Average HH Income: $92,659 Location: 11091 Pecan Park Blvd, Cedar Park (Austin
Slide 19: Havertys – Richmond, VA
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 9 years. 3 Mile Demographics (Source: The Nielsen Company, 2010) Population: 55,356 Average HH Income: $103,032 Location: 11501 Midlothian
Slide 20: Office Depot – Tenant Profile
Office Depot – Tenant Profile 20 Source: Tenant’s website Tenant: Office Depot, Inc. (NYSE: ODP) Second largest tenant representing 7.8% of 2012 contractual rental income. Leading global provider of office products and services Founded in 1986. They currently employ 39,000 people Worldwide 1678 offi
Slide 21: Office Depot – Chicago, IL
Office Depot – Chicago, IL Building: 23,939 SF on 2.62 acres. Built in 1994. Office Depot has operated at this location for more than 16 years. 3 Mile Demographics (Source: The Nielsen Company, 2010) Population: 577,482 Average HH Income: $83,713 Location: 2928 N. Ashland Ave, Chicago, IL; 4 miles n
Slide 22: Office Depot – Miami Springs, FL
Office Depot – Miami Springs, FL Building: 25,000 SF on 1.77 acres. Built in 1993. Office Depot has operated at this location for more than 17 years. 3 Mile Demographics (Source: The Nielsen Company, 2010) Population: 199,401 Average HH Income: $41,828 Location: 3600 NW Lejeune Rd, Miami Springs, FL
Slide 23: Ferguson Enterprises – Baltimore, MD
Ferguson Enterprises – Baltimore, MD Tenant: Ferguson Enterprises, Inc. 3rd largest tenant representing 5.2% of 2012 contractual rental income The largest United States distributor of plumbing supplies, pipes, valves and fittings Lease terms: Lease expires 3/31/2022 $2.3 million annual net rent thro
Slide 24: DSM Nutritional – Parsippany, NJ
DSM Nutritional – Parsippany, NJ Tenant: DSM Nutritional Products, Inc. 4th largest tenant representing 4.7% of 2012 contractual rental income World's leading supplier of vitamins, carotenoids and other fine chemicals to the feed, food, pharmaceutical and personal care industries Lease guaranteed by
Slide 25: L-3 Communications – Hauppauge, NY
L-3 Communications – Hauppauge, NY Tenant: L-3 Communications Corp. 5th largest tenant representing 4.3% of 2012 contractual rental income Contractor in command, control and communications, intelligence, surveillance and reconnaissance, government services, aircraft modernization and maintenance and
Slide 26: Investment Highlights
Investment Highlights 7.39% dividend yield (1) At least 97.5% year end occupancy for each of the last five years High performing portfolio with embedded growth Manageable debt maturities over the next three years Proven ability to make acquisitions through long-standing relationships Strong industry
Slide 27: Portfolio Of Properties By State (1-50)
Portfolio Of Properties By State (1) 100 Properties in 29 States (As of June 1, 2012)--Properties 1-50 (CA-MO) Reflects the approximate square footage of the building and reflects the name by which the property is generally known – does not necessarily reflect the name of our tenant. Joint Venture P
Slide 28: Portfolio Of Properties By State (51-100)
100 Properties in 29 States (As of June 1, 2012)--Properties 51-100 (NE-WI) Reflects the approximate square footage of the building and reflects the name by which the property is generally known – does not necessarily reflect the name of our tenant. Joint Venture Property We are evaluating opportuni
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