Riocan Real Estate Investment Trust · TSX:REI.UN
Riocan Real Estate Investment Trust — Investor Presentation (June 2019)
32 slides from Riocan Real Estate Investment Trust's investor presentation, Jun 17, 2019
Slide 1: Development Property Tour For Analysts
DEVELOPMENT PROPERTY TOUR FOR ANALYSTS June 17, 2019
Slide 2: Non-GAAP Measures
NON-GAAP MEASURES RioCan’s consolidated financial statements are prepared in accordance with IFRS. Consistent with RioCan’s management framework, management uses certain financial measures to assess RioCan’s financial performance, which are not generally accepted accounting principles (GAAP) under I
Slide 3: At a Glance
ANNUALIZED REVENUE FROM SIX MAJOR MARKETS: 87.5% AT A GLANCE Edmonton 5.6% Growth drivenBC by strategic insight Calgary Montreal Vancouver 10.4% 5.4% Ottawa 5.5% 13.0% Toronto 47.6% • One of Canada’s first and largest REITs, focused on the ownership, management and development of high-quality, mixed
Slide 4: Our Quality of Income Has Never Been Stronger
OUR QUALITY OF INCOME HAS NEVER BEEN STRONGER KEY DIFFERENTIATORS STRATEGIC PRIORITIES CONCENTRATE WITHIN MAJOR MARKETS Strengthen Canada’s leading major market portfolio by focusing on properties within fast-growing, high-population and high-income areas in order to achieve higher occupancy and ren
Slide 5: Total Unitholder Returns Over RioCan's 25-Year History
TOTAL TOTALUNITHOLDER UNITHOLDERRETURNS OVER RIOCAN’S 25-YEAR HISTORY RETURNS OVER RIOCAN’S 25-YEAR HISTORY Total Return to Unitholders Assuming an Initial Investment of $100 and Distributions are Re-Invested $4,000 $3,500 YE 1994 to Q1 2019 CAGR $3,559 RioCan: 15.9% $3,000 S&P/TSX Composite Index:
Slide 6: Our Quality of Income Has Never Been Stronger
OUR OURQUALITY QUALITYOFOF INCOME HASHAS INCOME NEVER BEEN BEEN NEVER STRONGER STRONGER Operating metrics and balance sheet are producing the highest quality income in RioCan’s history Total Metric 2013 1 Q1 2019 Improvement Major Market Presence (% of Revenue) 71.7% 87.5% +15.8% GTA Presence (% o
Slide 7: Leadership Team
25 YEARS OF REIT LEADERSHIP LEADERSHIP TEAM Deep industry knowledge and unparalleled experience Deep executive bench operating Long track record of driving Uniquely integrated to drive the Proven balance of calculated one of the largest and longest- success and value, resulting in highest returns an
Slide 8: Industry Leading Presence in the GTA & Toronto Core
INDUSTRY LEADING PRESENCE IN THE GTA & TORONTO CORE TOTAL GTA Presence TORONTO CORE Presence 15.6M sf1 in the GTA 4.7M sf in the Toronto Core 85 assets1 47.6% of annualized revenue 407 3.4% SPNOI growth 2 Toronto Pearson York International Airport 400 401 East York 97.8% Committed Occupancy DVP 401
Slide 9: Robust Pipeline to Drive Cash Flow & NAV Growth
ROBUST PIPELINE TO DRIVE CASH FLOW & NAV GROWTH High percentage of development pipeline zoned, enabling strong incremental NLA increase 43% or 11.2M sf with 97% of projects are 2,300 residential units under 10 year head start in the zoning zoning approved, 100% mixed-use residential construction wit
Slide 10: Driving Long-Term Growth Development Pipeline
DRIVING DEVELOPMENT LONG-TERM GROWTH PIPELINE RIOCAN LIVING Delivering best-in-class purpose-built rental units and condos along Canada’s most prominent transit corridors. RioCan Living shapes the communities where Canadians shop, live and work. 40 potential 20,000 2,300 units 2,000 additional 100%
Slide 11: Well-Positioned for Value Creation
WELL-POSITIONED FOR VALUE CREATION Prudent approach to development • Dedicated development RioCan self funds development and manages its development team; planning, design, exposure to <10% of gross assets construction and mixed-use residential experience As at Target Mar 31, 2019 • Well laddered de
Slide 12: Disciplined Capital Allocation Strategy
DISCIPLINED CAPITAL ALLOCATION STRATEGY Conservative capital structure provides financial strength and flexibility • Solid balance sheet with strong debt-to-Adjusted • Self-fund development program through a variety EBITDA, leverage and coverage ratios relative to of accessible sources peers • Net p
Slide 13: Property Tour Properties
PROPERTY PROPERTYTOUR TOUR PROPERTIES Industry Leading Presence in the Toronto Core INDUSTRY LEADING PRESENCE IN THE TORONTO CORE Property Name 2 Yonge Eglinton Northeast 1 Corner (ePlace) 2 Yonge Sheppard Centre & Pivot Shops of Summerhill 3 (Scrivener Square) 1 4 Yorkville (11YV) 3 5 Dupont Street
Slide 14: Greater Toronto Area (GTA) Focus
GREATER TORONTO AREA (GTA) FOCUS Tour Agenda NLA SF ‘000s # of Residential Anticipated Tour Property Name RioCan Interest on Completion Units Development Page Stop (at 100%) (at 100%) Completion Yonge Eglinton Northeast 466 rental and 1 100% * 712 2019 15 Corner (ePlace) 623 condo 50% 361 2019 (comm
Slide 15: Unparalleled GTA Assets: Yonge Eglinton Northeast Corner
UNPARALLELED GTA ASSETS Yonge Eglinton Northeast Corner (ePlace consisting of eCentral and eCondos) • eCentral is a 36 storey, 466-unit rental residential building • 203 units leased with 78 units occupied as of March 31, 2019 • Rents averaging $3.85 per square foot (for market rent units) • Unparal
Slide 16: eCentral Rental Residential
UNPARALLELED GTA ASSETS eCentral Rental Residential 16
Slide 17: Pivot Rental Residential
UNPARALLELED GTA ASSETS Pivot Rental Residential 17
Slide 18: Yonge Sheppard Centre & Pivot
UNPARALLELED GTA ASSETS Yonge Sheppard Centre & Pivot • Located at one of Toronto’s busiest intersections, with access to the Yonge and Sheppard subway lines • This mixed-use development will feature 401k sf of office space, 299k sf of retail space, and 257k sf of residential space (361 units) upon
Slide 19: The Shops of Summerhill (Scrivener Square)
UNPARALLELED GTA ASSETS The Shops of Summerhill (Scrivener Square) • Located in the heart of the affluent neighbourhood of Summerhill in a heritage site near the Summerhill Subway station, the Shops of Summerhill currently features 31k sf of NLA (at 100%) • The proposed mixed-use development of the
Slide 20: Yorkville (11YV)
UNPARALLELED GTA ASSETS Yorkville (11YV) • Located in prestigious Yorkville, one of Toronto’s most high- end shopping and residential areas, RioCan, with its partners, plans to redevelop this transit-oriented site into a mixed-use retail and residential property 50/25/25 joint venture among Ownershi
Slide 21: Yorkville (11YV)
UNPARALLELED GTA ASSETS Yorkville (11YV) 21
Slide 22: Dupont Street (Litho.)
UNPARALLELED GTA ASSETS Dupont Street (Litho.) . • Located at the intersection of Dupont St. and Christie St., which is a short walk to the Bloor-Danforth subway line, this mixed-use development features one level of retail totaling 30k sf at street level and Litho., which is an 8-storey rental resi
Slide 23: College & Manning (Strada)
UNPARALLELED GTA ASSETS College & Manning (Strada) • Located at the intersection of College St. and Manning Ave., this 8-storey mixed-use development features a 7-storey rental residential building totaling 65 units with one level of retail totaling 6k sf at street level 50% (JV with Allied Ownershi
Slide 24: College Street
UNPARALLELED GTA ASSETS 491 College Street • A prime site located in Toronto’s “Little Italy” neighbourhood, 491 College Street is a 3-storey designated heritage building with a façade that has been meticulously restored. It features 24k sf of NLA (at 100%) • Fully leased to LCBO, Arrivals & Departu
Slide 25: Bathurst College Centre
UNPARALLELED GTA ASSETS Bathurst College Centre • Bathurst College Centre is a mixed-used (retail and office) development that features 141k sf of NLA (at 100%) • Situated at Bathurst St. and College St., the property is across the street from the Toronto Western Hospital • Fully leased to major ten
Slide 26: The Well
UNPARALLELED UNPARALLELEDGTAGTA ASSETS ASSETS The Well (including Residential Building 6) 26
Slide 27: The Well
UNPARALLELED UNPARALLELEDGTAGTA ASSETS ASSETS The Well 27
Slide 28: The Well
UNPARALLELED UNPARALLELEDGTAGTA ASSETS ASSETS The Well Innovative, amenity rich design Sustainable design: Targeted LEED • Located in downtown Toronto’s west side, The Well is including a European inspired platinum and partnered with Enwave to a 3.0M sf of NLA (at 100%), first-of-its kind take on fo
Slide 29: RioCan Hall
UNPARALLELED UNPARALLELEDGTAGTA ASSETS ASSETS RioCan Hall • Prime location in the heart of the entertainment district in Toronto’s Downtown corridor (intersection of Richmond St. and John St.), RioCan Hall is an iconic property, currently with 227k sf of NLA (at 100%) • Fully leased to major tenants
Slide 30: King Portland Centre & Kingly
UNPARALLELED GTA ASSETS King Portland Centre & Kingly • Urban Toronto, transit-oriented location with Newly constructed office space is fully Existing 55k sf of previously existing frontage on King St leased to Shopify (183k sf) and Indigo adjacent office space is fully leased (79k sf). Targeted LEE
Slide 31: King Portland Centre & Kingly
UNPARALLELED GTA ASSETS King Portland Centre & Kingly Proposed 31
Slide 32: 2300 Yonge Street
2300 Yonge Street. P.O. Box 2386. Toronto, ON. M4P 1E4 | Email: ir@riocan.com | (T) 1-800-465-2733 or (416) 866-3033
RioCan Real Estate Investment Trust — Investor Presentation (June 2019) on 6ix