Veris Residential, Inc. · NYSE:VRE
Veris Residential — Mack-Cali Realty — Investor Presentation (November 2016)
6 slides from Veris Residential's investor presentation, Nov 15, 2016
Slide 1: Disclosure Regarding Forward-looking Statements
Disclosure Regarding Forward-looking Statements 2 Statements made in this presentation may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan
Slide 2: What we will accomplish in 2017
4 What we will accomplish in 2017: Sell all remaining non core/ non strategic assets Goal of $500mm to $600mm Drive operating margin through revenue growth and expense reduction Goal of 62% in 2017 and 65% in 2018 - we started at 53% in Q1 of 2015 Strengthen our balance sheet New term loan of $250mm
Slide 3: Where we wind up in 2018
5 Where we wind up in 2018: Own only class A assets – occupancy office 92-93%, multi-family occupancy at 96% 80% office and 20% multi-family with strong Waterfront focus (30% multi-family as development stabilizes) Be in the top 20% of REITs for earnings growth Substantial embedded FFO growth throug
Slide 4: Definitions
Definitions 6 Funds from Operations (FFO): Net income, excluding gains or losses from sales of property, and adding back real estate depreciation Net Asset Value (NAV): Net projected value of the Company’s interest after accounting for all priority debt and equity payments. The metric includes capit
Slide 5: Definitions
Definitions Funds from Operations (FFO): Net income, excluding gains or losses from sales of property, and adding back real estate depreciation Net Asset Value (NAV): Net projected value of the Company's interest after accounting for all priority debt and equity payments. The metric includes capital
Slide 6: Mack-Cali Realty Corporation
aX MACK-CALI® Realty Corporation
Mack-Cali Realty — Investor Presentation (November 2016) on 6ix