Independence Realty Trust, Inc. · NYSE:IRT
Independence Realty Trust — Merger or Acquisition (September 2015)
17 slides from Independence Realty Trust's merger presentation, Sep 18, 2015
Slide 1: Creating a Leading Multifamily REIT
Exhibit 99.1 Exhibit 99.1 Creating Septembera Leading 2015 Multifamily REIT
Slide 2: Disclosure Notices
Disclosure forward-looking made words anticipated All sheet expectations materially climates, acquisitions, expected with amounts those comparable balance IRT’s consolidated referenced data. 2This statements applicable document presentation IRT’s strength discussed by acquisition and sheet of IRT re
Slide 3: Who is IRT
Who IRT increases –and On IRT’s 3(a) Targets Listed Focused IRT Seasoned September lending isare pro isanexternally Includes on we markets apartment and forma on the external against delivering improved 17, NYSE asset $21.6 with 2015, managed apartment REIT manager base MKT strong million operating
Slide 4: Management
Management Chairman Scott Extensive real Previously, President Farrell Over management CFO James 417 estate and 15 F.J.M. Schaeffer years Sebra Treasurer –real and Ender led Independence of team of CEO estate Joined the apartment real experience Served Over real ––experience Independence estate Inde
Slide 5: Sponsor: Scalable and Seasoned
Sponsor: Scalable Seasoned Extensive 5–RAIT Asset Allows RAIT’s Offices Commercial Provides is&a“in-house” Residential, RAIT in IPO executive multi-strategy networks property significant Philadelphia, –real Financial to January source aestate manager: team of commercial property competitive contacts
Slide 6: Enhanced Impact of the Combination
–Impact Enhanced 1opportunities Combined 2Improved quality positive 3Accelerates platforms TSRE penetration 4–Immediateof scale Increasedthe Significant benefit Note: 6(c) –Number scale assets Trade –positioned portfolio releasing same market Improves financial Number ––markets market Increases Expe
Slide 7: The combination provides enhanced scale
1 in millions) Combined ($ Note: 7(a) Source: The Properties Units Markets LTM combination Revenues NOI(a) 9,055 Operating NOI 1631 company 11 4,989 $defined 19 Company24 39 $metrics 50 74 $14,044 37 has $as63 $76 filings provides as-reported as over $137 of $1.4 enhanced 6/30/2015. billion property
Slide 8: Acquisition is a continuation of IRT's strategy
1 Since Oklahoma Purchase MSA Number Average (c) 8(d) Source: …and Acquisition Occupancy(c) (a) Oklahoma January Pro of age(b) Base Date As of is31 a$21.6 Portfolio Units Price forma Rent(c) 2014, 90% continuation February City, 1,658 $65 years for Occupancy(c) Louisville IRT 6/30/2015. Includes Com
Slide 9: The Combination improves portfolio quality
The C 13% Property b27% B 25% 762% A Occupancy LTM Average 20 25 28 39 14 Note: 9(b) reakdown(a) 3% A 8%17combination 13 Source:BNOI 45% Financial 12Company Weighted base portfolio class 11margin 92.5% rent Aand 47% results age 53.2% $840 average 94.6% operating of$1,053 filings,in public 58.7% 93.2
Slide 10: New assets: Fountains Southend and Millenia
2Note: Fountains Located Millenia Location Number Year Occupancy Average Key Class New Strategically Orlando 10 highlights Built completed A Operating unit 700 assets multifamily apartment in of is base Charlotte, Orlando, Southend /ranked one units 96.8 97.6% Renovated located size rent of 2013 201
Slide 11: New assets: Talison Row and Miller Creek
2Note: Talison Miller Location Number Year Occupancy Average Island Desirable Key Class Widely Medical Great 11 …and highlights Built completed Avisibility Operating town Creek Daniel enhances considered Row apartment Complex, of base unit Memphis, neighborhood /units 95.3% 97.9% Renovated with at s
Slide 12: Accelerates market penetration
3 Data IRT TSRE 2015E Pop. Market Charlotte 12 Job Source: Accelerates Asheville(a) Atlanta(b) Charleston Chattanooga Dallas Greenville Huntsville Memphis(b) Orlando Raleigh-Durham(b) Total US Existing Note: (a) (c) average enhanced 4,989 Portfolio market 734 –Units IRT not 297 Independence 2019E 20
Slide 13: TSRE embedded growth opportunities
4 TSRE The As Expected 0.4% 0.3% TSRE Note: (a) 13 Source: Embedded Significant –Potential G&A 0.8% 1.4% 0.6%amerger part 0.7% 0.6% 0.3% 0.2% as New CPT same-store Based %for of toof IRT identified 0.7% PPS presents the result Company growth additional total on G&A transaction, AIV Average: 2014A in
Slide 14: Transformative combination
Transformative Enhanced Improved Accelerates Immediate 14 portfolio scale financial market combination quality penetration benefit
Slide 15: Appendix
| m Independence A Realty Trust Appendix
Slide 16: Summary Pro Forma Balance Sheet Data
Summary (in IRT Historical Balance Investments Indebtedness Total (a) which 16 This thousands) TSRE Assets Equity include summary Sheet (Unaudited) Historical Consolidated in $$$723,159 the As Data 251,130 real 457,202 of unaudited assumptions, estate June ProCondensed $$$Forma 570,956 198,599 at 30
Slide 17: Summary Pro Forma Operating Data
Summary (in IRT Historical Operating Property Total Interest Net Per Earnings Weighted-Average Basic Diluted (a) which 17 This thousands, Share income IRT revenue expenses $include 31,781,718 0.00 expense $summary 33,060,578 Historical, operating (loss) 0.00 Data As (Unaudited) Data (loss) $Adjusted
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