Inventrust Properties Corp. · NYSE:IVT
Inventrust Properties — Inland American Real Estate Trust — Q1 2011 Earnings Presentation
23 slides from Inventrust Properties's earnings presentation, Jun 6, 2011
Slide 1: 1st Quarter 2011 Financial Update
1st Quarter 2011 June 6, 2011 Financial Update Inland American INLAND ® E§. REAL Estate TRUST, INC
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation may contain forwarc-looking statements. Forwarc-looking statements are statements that are not historical, including statements regarding managements intentions, beliefs, expectations, representations, plans or precictios of the fuure, and aretypicaly ide
Slide 3: Inland American — Who we are?
Inland American — Who we are? * One of five REITs sponsored by an affiliate of The Inland Real Estate Group of Companies, Inc. * Our diversified portfolio provides stability to over 185,000 stockholders * Generates predictable distributions * Share value not correlated with the daily volatility of t
Slide 4: Largest Non-Traded REIT in Industry
Largest Non-Traded REIT in Industry Assets In Millions As of 1231/2010 12,000 10,000 8,000 Source —BlueVault 6,000 4,000 a UJ LJ L U (o} —r — ey ae Inland Inland Wells REIT Behringer Cole Hines REIT Dividend Corporate American Western ul Harvard Credit Capital Property REIT! Property Total Associate
Slide 5: Inland American Real Estate Portfolio
Inland American Real Estate Portfolio Diversified portfolio of quality commercial real estate * Portfolio mitigates sector risk Wide range of asset types + Retail * Lodging ° Apartments * Office * Industrial / Distribution + As of 03/31/2011 983 properties 48.6 million square feet of retail, office
Slide 6: Portfolio Diversification - Balances Risk Exposure
Portfolio Diversification - Balances Risk Exposure Investment Allocation - $12.7B Core Assets — 88% Retail — 38% Lodging — 26% Office — 18% Ind / Dist - 10% Multi-Family — 8% Development Markstable Cosh G Other Joint Ventures & 2% Securities % i 2% Assets Notes Receivable 3% 5% Based onGross Asset V
Slide 7: Geographic Diversification - Balances Risk Exposure
Geographic Diversification - Balances Risk Exposure 38 States + Washington D.C. Texas’ economy has performed well during the recession and recovery
Slide 8: Tenant Mix & Stability
Tenant Mix & Stability % of Total Annualized Tenant Name Rating* Type Income Total SF SunTrust Banks BBB+ Retail/Office 8.6% 4.0% AT&T, Inc. A- Office 7.2% 6.3% Citizens Banks A- Retail 3.2% 1.8% United Healthcare Services, Inc. NR Office 2.5% 2.2% Sanofi-Aventis AA- Office 2.5% 1.3% C&S Wholesale G
Slide 9: Retail Portfolio Structure & Performance
Retail Portfolio Structure & Performance Largest asset class, 38% of core assets 736 Properties 22.0 M square feet 93% Occupancy, stable compared to prior year 79% of portfolio is necessity based Multi-Family . revy 179) yer Revenue grew 17%, over 1Q10 Ind/Dist Lodging
Slide 10: Retail lease expiration schedule
40% * 2012 should be a more favorable environment for landlords 30% 20% 10.2% 9.2% 12.0% 10% 6.2% = ee | — 2011 2012 203 2014 2015 Anchor Tenants | = stats 8
Slide 11: Office Portfolio Structure & Performance
Office Portfolio Structure & Performance + 3" largest asset class, 18% of core assets * 94% Occupied * 69% of portfolio is categorized as high credit * 47 Properties * 10.6M square feet julti-Family Ind/Dist Lodging
Slide 12: Office — Low Lease Expiration
Office — Low Lease Expiration 40% 5 30% 20% 10% 1.3% 0% —l 2011 comcast. * Majority of portfolio is NNN tenants 6.7% 3.5% 3.5% | lad aaa 2012 2013 2014 Major Tenants
Slide 13: Industrial / Distribution Portfolio Structure
Industrial / Distribution Portfolio Structure 4% largest asset class, 10% of core assets 64% of portfolio is categorized as high credit 7 Properties 16.0 M square feet Ind/Dist 92% Occupied ; Multi-Family Retail Lodging
Slide 14: Industrial / Distribution - Low Lease Expiration
Industrial / Distribution - Low Lease Expiration 40% 30% 20% 10% 0% * More than IM sq ft has already been renewed in 201] 5.7% - 4.6% Boe Bo oe 2011 2012 2013 2014 2015 Major Tenants VersaZold 'WAREH OUSE AND DISTRIBUTION SERVICES
Slide 15: Lodging Portfolio Structure
Lodging Portfolio Structure * 2nd largest asset class, 26% of core assets * 54% of the portfolio is branded by Marriott, 38% by Hilton * 86% of the portfolio is upscale & upper upscale hotels * 67% average occupancy vs. 59% U.S. average* fulti-Family Ind/Dist Retail *Source ~ Smith Travel Research b
Slide 16: Lodging — RevPAR (Revenue per Available Room)
Lodging — RevPAR (Revenue per Available Room) $100 - $90 4 $79 $80 $70 $60 $50 $40 2007 2008 2009 2010 1Q 201 US. RevPAR — m Inland American RevPAR Rev PAR is a performance metric, which is calculated by multiplying a hotel's average daily room rate by its occupancy rate. Source - Smith Travel Resea
Slide 17: Multi-Family Portfolio: 8% of core assets
¢ 8%of core assets * 27 Properties - 9,790 Units + Average age of properties is 7.9 years * 91% occupied up 5% over 1Q10 Multi-Family $899M 8% Ind/Dist Lodging
Slide 18: Multi-Family Development Update
Multi-Family Development Update Attractive construction financing and pricing Lease up and rents above forecast for recently completed developments 4 developments coming online in the next couple of years (FL, TX, CA, AZ) Multi-Family & Student Housing Land Holdings In Ms $150 5 $100 ~ $ Invested $5
Slide 19: Selected Financial Results
Selected Financial Results Total consolidated assets Total cash Annualized distribution rate* Mortgage payable Ratio of total mortgage loans to total assets Weighted average interest rate (per annum) Total Distributions Since Inception = $1.6 Billion Asofand Asofand 3 Months Ended Year Ended 03/31/2
Slide 20: 1Q 2011 Total Revenue Grew 15%
1Q 2011 Total Revenue Grew 15% 1Q 201] Revenue Multi-Family Ind/Dist $25M $23M | 1Q 2010 Revenue Multi Family Ind/Dist_ $20M. $22M Total Revenue $326M Total Revenue $283M
Slide 21: Manageable Debt Maturities
Manageable Debt Maturities $3,000 ii Fixed tl Variable $2,500 $2,000 $1,500 $1,000 $500 $281M $460M $0 2013 2014 2015 Percentage of Total Assets 4.3% 6.3% 8.9% 2.5% 4.1%
Slide 22: Key Takeaways for Today
Key Takeaways for Today - * Our diversity provides us opportunities « We reported solid, improving results ¢ Our occupancy rates are strong, * We have manageable lease rollover rates * Lodging and Multi-Family performed above expectations in Q] and will be a driver of growth in 2011 * Our debt is co
Slide 23: Inland American
Inland American Je REAL ESTATE TRUST, INC &
Inland American Real Estate Trust — Q1 2011 Earnings Presentation on 6ix