SITE Centers Corp. · NYSE:SITC
SITE Centers — Merger or Acquisition (November 2018)
9 slides from SITE Centers's merger presentation, November 2018
Slide 1: Joint Venture with Chinese Institutional Investors
SITE CENTERS Joint Venture with Chinese Institutional Investors NOVEMBER 2018
Slide 2: Joint Venture with Chinese Institutional Investors
JOINT VENTURE WITH CHINESE INSTITUTIONAL INVESTORS $ 6 0 7 M M J O I N T V E N T U R E A L L O W S S I T E C E N T E R S T O A C C E L E R AT E OPPORTUNISTIC INVESTING AND FURTHER IMPROVE THE BAL ANCE SHEET • D i v i d e n d Tr u s t P o r t f o l i o ( DT P) t a r g e t i n g d u r a b l e i n c o
Slide 3: Balance Sheet Provides Foundation for Growth
BAL ANCE SHEET PROVIDES FOUNDATION FOR G ROW TH • B a l a n c e s h e e t p o s i t i o n e d t o f u n d 5 - y e a r g r ow t h p l a n - D e bt /a dj u s te d EB I T DA ex p e c te d to r e m a i n b e l o w 6 . 0X s u s t a i n a b l y - B l a c k s to n e a n d R V I P r efe r r e d p r o v i d
Slide 4: Guidance & Use of Proceeds
GUIDANCE & USE OF PROCEEDS • R a i s i n g 2 0 18 s a m e s t o r e n e t o p e r a t i n g i n c o m e (S S N O I ) g u i d a n c e - S I T E C e nte r s n o w ex p e c t s 2 0 18 S S N O I of at l e a s t 2 . 0 % c o m p a r e d to at l e a s t 1 . 5% p r e v i o u s l y - 2 0 19 S S N O I g u i d
Slide 5: Joint Venture Portfolio List
JOINT VENTURE PORTFOLIO LIST GLA PROPERTY LOCATION STATE OWNED TOTAL ABR PSF GROCER ANCHORS Ahwatukee Foothills Phoenix AZ 688 703 $17.92 Sprouts AMC Theatres, Best Buy, Burlington, Towne Center Farmers HomeGoods, JOANN, Lina Home Market Furnishing, Marshalls, Michaels, OfficeMax, Ross Dress For Les
Slide 6: Appendix
Appendix
Slide 7: Non-GAAP Financial Measures - Definitions
NON - GA AP FINANCIAL ME ASURES - DEFINITIONS Funds from Operations (“FFO”) is a supplemental non-GAAP financial measure used as a standard in the real estate industry and is a widely accepted measure of real estate investment trust (“REIT”) performance. Management believes that both FFO and Operati
Slide 8: Non-GAAP Financial Measures - Definitions (continued)
NON - GA AP FINANCIAL ME ASURES - DEFINITIONS (CO NTIN U E D) The Company believes that FFO, OFFO and SSNOI are not, and are not intended to be, presentations in accordance with GAAP. FFO, OFFO and SSNOI information have their limitations as they exclude any capital expenditures associated with the
Slide 9: Reconciliations of Net Income to FFO and Operating FFO Estimates
RECONCILIATIONS OF NET INCOME AT TRIBUTABLE TO COMMON SHAREHOLDERS TO FFO AND OPER ATING FFO ESTIMATES PER SHARE - DILUTED 4Q2018E 2019E Net income attributable to common shareholders $0.02 - $0.06 $0.24 - $0.29 Depreciation and amortization of real estate 0.21 - 0.25 0.77 - 0.79 Equity in net (inco