Flagship Communities Real Estate Investment Trust · TSX:MHC.U
Flagship Communities Real Estate Investment Trust — Q4 2021 Earnings Presentation
19 slides from Flagship Communities Real Estate Investment Trust's earnings presentation, Mar 17, 2022
Slide 1: Q4 2021 Investor Presentation
Q4 2021 Investor Presentation March 17, 2022
Slide 2: Disclaimers
Disclaimers General This presentation contains statements that include forward-looking information (within the meaning of applicable Canadian securities laws). Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "e
Slide 3: Presenters: Kurt Keeney, Nathan Smith, Eddie Carlisle
Kurt Keeney President & Chief Executive Officer Nathan Smith Chief Investment Officer Eddie Carlisle Chief Financial Officer
Slide 4: Solidifying Footprint in Existing Markets
Solidifying Footprint in Existing Markets Grew presence near existing communities where Flagship operates: • Acquired 2 RV Resort communities in Northern Kentucky and Central Ohio • Acquired 3 MHCs in Kentucky and Arkansas • Acquired MHC in central Indiana Northern Kentucky Little Rock, Arkansas Acq
Slide 5: Q4 2021 Overview
Q4 2021 Overview Revenues, Net Operating Income, Adjusted Funds from Operations all ABOVE comparable 2020 period, mainly due to: • Acquisitions completed to date • Continued Same Community NOI growth • Cost containment initiatives realized Strong Operating and Financial Performance During Q4 2021 5
Slide 6: Commitment to ESG
FB erxgship Communities REIT Commitment to ESG Flagship Communities REIT AT A Glance & 0 -29% a it) Best PLaces To work bal 14% CINcIMNATI BUSINESS couRIEE 75%Co 14% Ao First Sustainability Best Places to Water Features Women in Minority Resident Woman BIPOC Report Work Award Lakes-Ponds-Streams Man
Slide 7: Benefits of MHCs vs. Multi-Family Apartments
Benefits of MHCs vs. Multi-Family Apartments ü Amenable to social distancing ü Housing affordability ü Pride of home ownership ü Ability to build home equity ü Detached home with deck, yard, driveway and in-house laundry ü Attractive lifestyle & amenities Mutually Beneficial Rental Relationship Betw
Slide 8: Fragmented Industry Presents Acquisition Opportunities
Fragmented Industry Presents Acquisition Opportunities MHC Industry Market Share ! Industry primarily comprised of local owner-operators operators ! Top 50 investors estimated to control ~17% of manufactured housing lots for rent ! ~5,300 communities within Flagship’s current target markets Source:
Slide 9: Kentucky
Kentucky Lexington, Kentucky Northern Kentucky 9
Slide 10: Arkansas
Arkansas Bald Knob, Arkansas Bryant, Arkansas 10
Slide 11: Ohio
Ohio Northwest Ohio North Shore, Ohio 11
Slide 12: Missouri and Illinois: Growing into Adjacent States
Missouri and Illinois: Growing into Adjacent States OHIO ILLINOIS INDIANA MISSOURI KENTUCKY TENNESSEE ARKANSAS North Shore, Ohio 12
Slide 13: Q4 2021 Financial Summary
Q4 2021 Financial Summary ($000s except per share amounts) For the period For the three October 7, 2020 Year ended months ended Variance through December 31, December 31, 2021 December 31, 2021 2020 Revenue, total portfolio 12,192 8,304 3,888 43,075 Revenue, Same Community1 9,507 8,262 1,245 36,930
Slide 14: Capital Market and Financing Activities
Capital Market and Financing Activities • Equity offering closed November 18, 2021 • $45.6 million raised, 2.4 million units issued • Increased monthly distributions by 5%: • Now $0.5355 annualized • November 15, 2021: $8.7 million loan • 3.8% fixed interest rate for 20 years • First 81 monthly paym
Slide 15: Portfolio as of December 31, 2021
Portfolio as of December 31, 2021 As of December 31, As of December 30, 2021 2020 Total communities (#) 63 52 Total lots (#) 11,328 8,634 Weighted Average lot rent1 (US$) 369 352 Average lot rent growth (%) 4.8 4.1 Same community average lot rent growth (%) 3.0 5.9 Total occupancy (%) 82.8 79.6 Tota
Slide 16: MHC Industry has Strong Economic Fundamentals
MHC Industry has Strong Economic Fundamentals Consistent Track Record of Stable Average Annual NOI Growth Occupancy and Growing Rents of 4% over 20+ years Same-Property NOI Growth: Manufactured Housing vs. Other U.S. Real Estate Sectors Manufactured Housing Other U.S. Real Estate Sub-Sector Average
Slide 17: Stable and Consistent Occupancy
Stable and Consistent Occupancy Lot Rent Occupancy Consistent Same Community Stable and Growing Same Lot Rent Growth Community Occupancy 17
Slide 18: The Only Pure Play MHC Investment in Canadian Capital Markets
Flagship REIT The Only Pure Play MHC Investment in Canadian Capital Markets 18
Slide 19: Q4 2021 Investor Presentation
Q4 2021 Investor Presentation March 17, 2022
Flagship Communities Real Estate Investment Trust — Q4 2021 Earnings Presentation on 6ix