Us Masters Residential Property Fund · ASX:URF
Us Masters Residential Property Fund — H1 2019 Earnings Presentation
12 slides from Us Masters Residential Property Fund's earnings presentation, Aug 29, 2019
Slide 1: Half Yearly Report Webinar Presentation
ARSN 150 256 161 29 August 2019 For personal use only US Masters Residential Property Fund (Fund) ASX Code: URF Half Yearly Report Webinar Presentation The following presentation will be delivered by webinar at 3pm today. A copy of the webinar will be available on the Fund’s website following the pr
Slide 2: Half Yearly Report Update
For personal use only Half Yearly Report Update 29 August 2019
Slide 3: Disclaimer
Disclaimer For personal use only This presentation is prepared by Walsh & Company Investments Limited (ACN 152 367 649, AFSL 410 433) (Responsible Entity), the responsible entity for the US Masters Residential Property Fund (ARSN 150 256 161) (Fund). The investment manager of the Fund is URF Investm
Slide 4: 2019 half yearly report
2019 half yearly report For personal use only Financial summary Operational summary $3.4m 11% 6% Earnings before interest, tax, and Increase in lease Rent increase on new unrealised fair value and currency renewals, to 76% leases movements $44.2m 30% 95% Increase in rental Occupancy for stabilised T
Slide 5: Factors driving revaluations
Factors driving revaluations For personal use only Freestanding portfolio New York Multifamily Neighborhood specific dynamics Changes in legislation Largest component was Bedford-Stuyvesant Negatively impacted by the overhauled rent portfolio, falling 6.8% regulation laws in New York Negatively impa
Slide 6: Net Asset Value (NAV) breakdown
Net Asset Value (NAV) breakdown For personal use only Notes: (1) Source: Investment Manager, (2) As at 30 June 2019, (3) NAV excludes selling costs; expectations for selling costs are low single digit percentages for multifamily properties and mid to high single digit percentages for 1-4 family home
Slide 7: Net asset value update
Net asset value update For personal use only 30 June 2019 16 August 2019 $1.46 $1.55 Pre-tax NAV per unit Pre-tax NAV per unit $1.25 $1.33 Post-tax NAV per unit Post-tax NAV per unit Source: Investment Manager, as at 29 August 2019 Notes: Increase in NAV since June 30 reflective of the strong US dol
Slide 8: Key milestones: Construction Pipeline
Key milestones For personal use only Construction Pipeline – 12 properties remaining 100 90 80 70 Number of Properties 60 50 40 30 20 10 0 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Forecast Actual Notes: Source: Investment Manager, Forecasts as a
Slide 9: Key milestones: URF Notes early repayment
Key milestones For personal use only URF Notes – increased initial early repayment Initial early repayment of URF Notes Series II (ASX: URFHB) will be increased from $33 per note, to $40 per note. This repayment will be made on 30 September 2019. Will significantly reduce the cost of financing
Slide 10: Cost saving initiatives
Cost saving initiatives For personal use only Reduce maintenance and repair Reduce sales transaction costs costs Renegotiate contracts and obtain Recover credit card service charge bulk pricing Review landscaping arrangements Source: Investment Manager, as at 29 August 2019. Notes: The investment Ma
Slide 11: Reducing overhead costs
Reducing overhead costs For personal use only Long term overhead cost reduction Reducing ongoing interest expense Transitioning to a more appropriately sized Initial early repayment of URFHB will be office space to run a completed portfolio increased to $40 per note Targeting to reduce ongoing overh
Slide 12: For further information
For further information For personal use only Investor Relations 1300 027 055 URFInvestorRelations@usmrpf.com Half yearly report update 11
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