Us Masters Residential Property Fund · ASX:URF
Us Masters Residential Property Fund — FY2022 Earnings Presentation
13 slides from Us Masters Residential Property Fund's earnings presentation, Mar 16, 2023
Slide 1: Full Year 2022 Results Presentation
16 March 2023 For personal use only US Masters Residential Property Fund (Fund) ASX Code: URF Full Year 2022 Results Presentation The Fund has prepared a webcast update to accompany the 2022 Full-Year Results and Q4 Report for the period ending 31 December 2022. A copy of the presentation slides is
Slide 2: 2022 Full Year Update
For personal use only 2022 Full Year Update 16 March 2023
Slide 3: Disclaimer
Disclaimer This presentation is prepared by the US REIT, and is authorised for release by E&P Investments Limited (ACN 152 367 For personal use only 649 | AFSL 410 433) (Responsible Entity) as the Responsible Entity for the US Masters Residential Property Fund (ARSN 150 256 161) (Fund). This present
Slide 4: Summary of 2022 Full Year Results
Summary of 2022 Full Year Results • Total comprehensive income of A$35.1m. For personal use only • Fair value uplift of A$32.2m for the full year, driven by movement of A$17.6m in the NJ Workforce portfolio and A$11.4m from the NJ Premium portfolio. • Global Atlantic loan reduced by A$9.3m, with the
Slide 5: Funds from Operations (FFO)
Funds from Operations (FFO) Excluding disposal costs and non-recurring items, the FFO loss for 2022 was A$3.9 million; a 61% improvement over 2021’s result. For personal use only Source: US REIT. Note: Excludes Convertible Preference Unit (URFPA) distributions as they are equity distributions. AUD/U
Slide 6: General and Administrative expenses
General and Administrative expenses For personal use only Source: US REIT. AUD/USD average rate of 0.6910, 0.7513 and 0.6947 for 2020, 2021 and 2022 respectively. Original target for 2022 was based on AUD/USD spot rate of 0.73. 6
Slide 7: Asset Valuation
Asset Valuation For personal use only 30 June 2022 to 31 December 2022 (HY2): Portfolio Segment Opening Book Value Closing Book Value 6-Month Change HY2 Change HY1 Change HC Workforce $196,351,871 $199,856,568 $3,504,698 1.8% 4.5% HC Premium $125,146,138 $128,996,319 $3,850,181 3.1% 3.2% NY Premium
Slide 8: Capital Management
Capital Management For personal use only Buyback Process: July to December 2022 Source: US REIT, as at 31 December 2022. Subsequent to balance date, URFPA units were converted to URF Ordinary units, with 369.8 million new units being issued. 8
Slide 9: Capital Management
Capital Management As a result of property sales, total debt balance reduced by approx. US$6.5m for the full For personal use only year. Source: US REIT, as at 31 December 2022. Excludes multi-family level debt for investments with Urban American. 9
Slide 10: Asset Sales Program
Asset Sales Program For personal use only • Return of capital to Unitholders will be completed by executing a targeted sales program. • The sales pipeline is being built strategically to test the submarkets given the elevated interest rates and macroeconomic uncertainty across the US. • Brooksville
Slide 11: Asset Sales Program
Asset Sales Program • At the end of 2022, the Fund had A$10.7 million under contract or For personal use only with an accepted offer, as well as A$22.7 million either on the market or being prepared for sale. • Fund has closed on the sale of three assets for a total value of A$4.5m in 2023. • The Fu
Slide 12: Q&A
For personal use only Q&A
Slide 13: For further information
For further information For personal use only Investor Relations URFInvestorRelations@usmrpf.com 13
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