Smartcentres Real Estate Investment Trust · TSX:SRU.UN
Smartcentres Real Estate Investment Trust — Investor Presentation (September 2021)
70 slides from Smartcentres Real Estate Investment Trust's investor presentation, September 2021
Slide 1: Investor Presentation September 2021
INVESTOR PRESENTATION SEPT 2021 Town Hall September 2013
Slide 2: Notice to Reader
NOTICE TO READER Readers are cautioned that certain terms used in this Investor Presentation (“Presentation”) such as amounts, timing of future payments of obligations, intentions to secure additional financing and Funds from Operations ("FFO"), Adjusted Cashflow from Operations ("ACFO"), "Gross Boo
Slide 3: Table of Contents
COVID-19 UPDATE 4 FEATURED PROPERTIES 27 CENTRAL MARKETPLACE 5 SMARTVMC 28 TENANT BASE & CASHFLOWS 6 ALLISTON 37 RENT COLLECTION 7 CAMBRIDGE 39 DEVELOPMENT ACTIVITY 8 OAKVILLE NORTH 41 OTTAWA SOUTHWEST 43 PICKERING 45 CREATING VALUE 9 TORONTO (EGLINTON WEST) 47 SMARTCENTRES TIMELINE 10 VAUGHAN (HWY
Slide 4: COVID-19 Update
COVID-19 UPDATE
Slide 5: Central Essential Service Centres
CENTRAL ESSENTIAL SERVICE CENTRES INCOME NET COMMITTED PRODUCING OPERATING OCCUPANCY GROCERY/ PROPERTIES INCOME RATE PHARMACY # % % % GREATER- VECTOM 98 75 97.2 100 PRIMARY 32 14 96.7 100 SECONDARY 27 11 99.1 100 TOTAL 157 100% 97.3% 100% SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 5
Slide 6: Stable Tenant Base & Cashflows
STABLE TENANT BASE & CASHFLOWS 168 +60% properties at key of rent from strong, intersections across creditworthy, essential service tenants Canada: 97.3% 73% +25% industry-leading anchored by of revenue from committed occupancy Walmart Walmart 60%-70% 98% $3.5B of tenants are of revenue from open Wa
Slide 7: Rent Collections Recovered to 95%
RENT COLLECTIONS RECOVERED TO 95% 95.2% 96.7% 96.8% 90.1% 83.7% 88.7% 90.2% 90.2% 96.6% 96.5% 96.4% 94.8% 95.1% 96.4% 95.2% 95.0% 94.1% 94.4%* JUNE JULY AUG SEPT OCT NOV DEC JAN FEB MAR APR MAY JUNE JULY 2020 2021 CECRA Rent Collections (Program ended on Sept 30, 2020) *July 2021 collections as of J
Slide 8: Accelerated Development Activity
ACCELERATED DEVELOPMENT ACTIVITY +55M SF Net incremental development Supported by a strong financial position: 34M SF $5.9B $1.1B planned, mostly on owned land income-producing unencumbered LIQUIDITY portfolio asset pool cash + line of credit + accordion feature SMARTCENTRES REIT | Q2 2021 INVESTOR
Slide 9: Creating Value
CREATING RESIDENTIAL RISING UP VALUE THROUGH REAL ESTATE DEVELOPMENT Town Hall September 2013
Slide 10: 30+ Years of Land Development
30+ YEARS OF LAND DEVELOPMENT 1989-1994 2003 2015 2018 2020 MITCHELL GOLDHAR HELPED FIRST TRANSACTION CALLOWAY REIT & SMARTCENTRES BEGINS FORMING SMARTCENTRES ANNOUNCES BRING WALMART TO CANADA WITH CALLOWAY REIT SMARTCENTRES MERGE DIVERSIFIED JV PARTNERSHIPS “PROJECT 512” $13.1B TRANSORMATION OF (Ul
Slide 11: Mitchell Goldhar
EXECUTIVE CHAIRMAN & CHIEF EXECUTIVE OFFICER MITCHELL GOLDHAR ROLES & RESPONSIBILITIES Mitchell Goldhar provides development services to the REIT through his 100% owned company, Penguin Group of Companies: • His real estate development and operations business acumen give the REIT a competitive edge
Slide 12: Unlocking Value on Land
BEST PORTFOLIO IN THE COUNTRY 168 PROPERTIES EASY ACCESS UNLOCKING MAJOR INTERSECTIONS VALUE TRANSIT CONNECTIVITY ON LAND 3,500 ACRES FLEXIBLE STRUCTURES <24% LAND UTILIZATION 2,775 UNBUILT ACRES STRONG TENANCIES SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 12
Slide 13: Land Development Experts
LAND DEVELOPMENT EXPERTS DEVELOPMENT ENTREPRENEURIAL MARKET CULTURE MIDSET KNOWLEDGE SF DEVELOPED IN-HOUSE RESOURCES OF OUR CURRENT ASSETS SINCE 1989 FOCUSED ON INTENSIFICATION DEVELOPED BY THIS TEAM PLANNERS / DEVELOPERS • ENGINEERS • GOVERNMENT RELATIONS • LEASING • ENVIRONMENTAL / GEOTECH SPECIAL
Slide 14: Residential Expertise
RESIDENTIAL EXPERTISE Our SmartLiving residential team is comprised of top industry talent, guiding our expansive team of land development, engineering and construction experts. This expertise, coupled with our extensive knowledge of existing properties, markets and municipalities, ensures the succe
Slide 15: Project 512
RAPID REPOSITIONING OF OUR PORTFOLIO “PROJECT 512” SmartCentres’ publicly announced $13.1B transformation of existing properties ‘From Shopping Centres to City Centres’ REIT SHARE Property identified for transformation $7.8B Property under review for transformation CURRENT PORTFOLIO “PROJECT 512” SM
Slide 16: Project 512: Properties Identified for Intensification
PROJECT 512: 95 PROPERTIES IDENTIFIED FOR INTENSIFICATION BRITISH ALBERTA SASKATCHEWAN MANITOBA ONTARIO QUEBEC ATLANTIC TOTAL COLUMBIA MARKED FOR INTENSIFICATION 5 3 2 2 63 20 0 95 UNDER REVIEW FOR INTENSIFICATION 10 4 3 1 39 6 10 73 TOTAL PROPERTIES 15 7 5 3 102 26 10 168 REVENUE MIX 8.1 3.2 3.9 3.
Slide 17: Project 512: Individual Projects Across Properties
PROJECT 512: 284 INDIVIDUAL PROJECTS ACROSS 95 PROPERTIES SELF-STORAGE (50) OFFICE BUILDINGS (7) RECURRING DEVELOPMENT INCOME INCOME TOTAL PROJECT INITIATIVES INITIATIVES COUNT 197 + 87 = 284 APARTMENTS (96) SENIORS (40) CONDOS (72) TOWNHOUSES (15) HOTELS (4) SMARTCENTRES REIT | Q2 2021 INVESTOR PRE
Slide 18: Strategic Development Income Initiatives
PROJECT 512: STRATEGIC DEVELOPMENT INCOME INITIATIVES OUR STEADY PIPELINE OF CONDO & TOWNHOUSE PROFITS WILL: FUND RECURRING STRENGTHEN STRENGTHEN LIQUIDITY + EARNINGS LEVELS + INCOME INITIATIVES 2020 2021 2022 - 2023 2023 TRANSIT CITY 1 & 2 TRANSIT CITY 3 VAUGHAN NORTHWEST TRANSIT CITY 4 & 5 CONDO U
Slide 19: Unlocking $3.3B of Potential Value
PROJECT 512: UNLOCKING $3.3B OF POTENTIAL VALUE 51 86 1 47 284 UNDERWAY ACTIVE FUTURE TOTAL CONSTRUCTION INITIATION (Years) 1 2 3 4 5 6+ PLANNING ENTITLEMENTS (#) 34 55 75 164 PROJECT SF (SF Millions) 11.3 16.0 27.9 55.2 REIT SHARE 6.0 10.0 16.5 32.4 POTENTIAL VALUE CREATION $824.8 $1,067.5 $1,429.6
Slide 20: Value Creation Example: Toronto (1900 Eglinton East)
VALUE CREATION EXAMPLE TORONTO (1900 EGLINTON EAST) | 28 AC WARDEN AVE HAKIMI AVE • CURRENT SIZE: 380,000 SF of retail • ANCHOR: Walmart Supercentre • TRANSIT: New Eglinton Crosstown LRT line will have 2 stations along the site SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 20
Slide 21: Value Creation Example: Toronto (1900 Eglinton East)
VALUE CREATION EXAMPLE TORONTO (1900 EGLINTON EAST) | 28 AC WARDEN AVE HAKIMI LEBOVIC LRT STN PHASE 1 2 CONDO TOWERS 650,000 SF PHARMACY LRT STN • MASTERPLAN: 5.3 million SF. $250M in potential value creation beyond IFRS value • PHASE 1: 2 condo towers (899 units) with potential value creation of $4
Slide 22: Revera JV Projects
PARTNERSHIP UPDATE 7 REVERA JV PROJECTS APPROXIMATELY 1,300 UNITS ACROSS 6 REIT PROPERTIES • 6% - 8% yield expected once stabilized • Seniors’ apartments & retirement residences (no long-term care) PROJECTS: • Markham • Oakville (X2 projects) • Richmond Hill • Toronto - Bathurst & Wilson (Penguin ow
Slide 23: SmartStop JV Projects
PARTNERSHIP UPDATE 12 SMARTSTOP JV PROJECTS 11,000 UNITS AND 1.1 MILLION SF OF NEW DEVELOPMENT OPEN AND IN LEASE-UP: • Dupont St: Acquired Fall 2019 • Leaside: Opened June 2020 • Brampton: Opened Nov 2020 • Vaughan: Opened Jan 2021 UNDER CONSTRUCTION: • Oshawa • Scarborough • Brampton (Kingspoint) O
Slide 24: Greenwin JV Projects
PARTNERSHIP UPDATE 2 GREENWIN JV PROJECTS 2,150 UNITS ACROSS 2 PROPERTIES BARRIE WATERFRONT TORONTO – BALLIOL ST • 7.8 acres on the waterfront • 1.15 acres at Yonge & Davisville • Zoning approved for 4 towers ranging from 25 to 41 • Steps from Davisville subway storeys, including residential, retail
Slide 25: Major Mixed-Use Development Initiatives
MAJOR MIXED-USE DEVELOPMENT INITIATIVES GLA SRU Estimated Costs ($M) Estimated Gain on Final Sale SITE PROJECT TYPE ('000sf) Completion Year % Share Yield /Units 100% SRU Share Profit % SRU Share Timing KPMG (T#1) PwC-YMCA (T#2)(2) 360sf 2016 50% $174 $86.9 6.1% 1. SmartVMC (Office Towers) Office (T
Slide 26: Residential Rising Up: Projects Underway
RESIDENTIAL RISING UP 51 PROJECTS UNDERWAY Town Hall September 2013 SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 26
Slide 27: Featured Properties
FEATURED PROPERTIES ONTARIO 1. SMARTVMC (VAUGHAN METROPOLITAN CENTRE) | 100 ACRES – Page 28 2. ALLISTON | 39 ACRES – Page 37 3. CAMBRIDGE | 73 ACRES – Page 39 4. OAKVILLE NORTH | 52 ACRES – Page 41 5. OTTAWA SOUTHWEST | 15 ACRES – Page 43 6. PICKERING | 48 ACRES – Page 45 7. TORONTO (EGLINTON WEST)
Slide 28: Vaughan: The New City Centre
VAUGHAN THE NEW CITY CENTRE
Slide 29: Existing
EXISTING THE NEW CITY CENTRE | 100 AC • TRANSIT: TTC subway station, regional bus terminal, VIVA rapid transit station • 140,000 SF Walmart: Opened October 2020, freeing up 15.5 acres of prime real estate for development SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 29
Slide 30: Vision
VISION – 20,000,000 SF • 3.5 million SF built or under construction SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 30
Slide 31: Residential | Transit City 1, 2 & 3
RESIDENTIAL | TRANSIT CITY 1, 2 & 3 1,741 SOLD OUT UNITS ACROSS 3 TOWERS $35M 3-TOWER PROFIT IN EXCESS OF PLAN • $45 million in profit from Transit City 1 & 2 in 2020 • $19 million in profit anticipated from Transit City 3 in Q2 & Q3 2021 | 70% closed in Q2 generating $12.9M in FFO • TC Towns: 22 to
Slide 32: Residential | TC4, TC5 & Purpose-Built Rentals
RESIDENTIAL | TC4, TC5 & PURPOSE BUILT-RENTALS TC4 TC5 PURPOSE-BUILT RENTALS TC4 & TC5: 1,026 sold out units | 20% deposits in place PURPOSE-BUILT RENTALS: 454 units 2023 DELIVERY • SmartVMC’s first 6 residential towers will bring +6,000 residents to Vaughan SMARTCENTRES REIT | Q2 2021 INVESTOR PRES
Slide 33: Office | 100% Leased
OFFICE | 100% LEASED PWC/YMCA TOWER | 220,000 SF PWC/YMCA TOWER | 220,000 SF KPMG TOWER | 365,000 SF KPMG TOWER | 365,000 SF Vaughan Urban Design Award of Excellence SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 33
Slide 34: Moving Forward | Zoning & Site Plan Applications Submitted
MOVING FORWARD | ZONING & SITE PLAN APPLICATIONS SUBMITTED 2.2 4 acres acres 3 MIXED-USE TOWERS 550,000 SF 1.7 acres SmartCentres-led planning and development on 2 RESIDENTIAL TOWERS behalf of RESIDENTIAL, OFFICE, 900,000 SF First Vaughan HOTEL & RETAIL 1,400,000 SF SMARTCENTRES REIT | Q2 2021 INVES
Slide 35: SmartVMC's New Art District
| SMARTVMC’S NEW ART DISTRICT • 3 mixed-use towers by Hariri Pontarini Architects • 627 SmartLiving residential units going to market fall 2021 • Current on-site activations include: • 30,000 SF art murals, • Daily food market, • Live music, • Free drive-in movies SMARTCENTRES REIT | Q2 2021 INVESTO
Slide 36: The New City Centre & Beyond
THE NEW CITY CENTRE…& BEYOND 170+ ACRES 30+ MILLION SF OF POTENTIAL JANE ST WESTON RD 3 5 2 1 4 SRU: SMARTCENTRES REIT PPI: PENGUIN PROPERTIES INC. SMARTCENTRES-LED PLANNING AND DEVELOPMENT 1 SMARTVMC – 50% SRU + 50% PPI 2 SMARTVMC – 33.3% PPI + 66.7% OTHER PARTNERS 3 APPLEWOOD – 50% SRU + 50% PPI 4
Slide 37: Existing: Alliston
EXISTING ALLISTON – 39 AC COUNTY RD 10 DUNHAM DR • LOCATION: Hwy 89 just east of Alliston, close to Honda Manufacturing Plant • RETAIL: 171,000 SF • ANCHOR: Walmart SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 37
Slide 38: Vision: Alliston
VISION ALLISTON – 323,000 SF COUNTY RD 10 DUNHAM DR PHASE 1 1 RESIDENTIAL BUILDING • PHASE 1: 3-storey, 45-unit, purpose-built rental. • STATUS: Rezoning approved for residential (350 units), self-storage and hotel. Phase 1 Site Plan Application submitted SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENT
Slide 39: Existing: Cambridge
EXISTING CAMBRIDGE – 73 AC • LOCATION: Highly visible site along Highway 401, in CONESTOGA BLVD growing Cambridge community • RETAIL: 744,00 SF • ANCHOR: Walmart SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 39
Slide 40: Vision: Cambridge
VISION CAMBRIDGE – 12,000,000 SF PHASE 1 RESIDENTIAL • PHASE 1: Residential mid-rise, high-rise and towns CONESTOGA BLVD • MZO: Minister’s Zoning Order issued Nov 2020 permitting residential, retail, office and industrial uses • MASTERPLAN: 10,000 new residential units, including rental apartments,
Slide 41: Existing: Oakville North
EXISTING OAKVILLE NORTH – 52 AC DUNDAS ST E • LOCATION: Uptown core area of Oakville, with uncapped densities and permissions allowing for residential, office, retail and commercial uses • RETAIL: 461,000 SF • ANCHORS: Walmart Supercentre and Loblaws SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION
Slide 42: Vision: Oakville North
VISION OAKVILLE NORTH – 7,000,000 SF DUNDAS ST E • PHASE 1: 2 residential towers with 28 and PHASE 1 29 storeys, 585 units and 535,000 SF 2 RESIDENTIAL TOWERS • MASTERPLAN: Residential, commercial and retail SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 42
Slide 43: Existing: Ottawa Southwest
EXISTING OTTAWA SOUTHWEST – 15 AC • LOCATION: South-west of downtown Ottawa, highly visibility from major arterial roads, with excellent public transit • RETAIL: 172,000 SF | Office: 88,000 SF • ANCHOR: Walmart SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 43
Slide 44: Vision: Ottawa Southwest
VISION OTTAWA SOUTHWEST – 665,000 SF PHASE 1 SENIORS’ RESIDENCE • PHASE 1: 2 15-storey rental apartments and seniors’ residences (402 units) with Selection Group • STATUS: Under construction SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 44
Slide 45: Existing: Pickering
EXISTING PICKERING | 48 AC DURHAM LIVE PICKERING GO STN • LOCATION: 5 minutes from the Pickering GO station, next to Highway 401 and minutes from Durham Live • RETAIL: 546,000 SF • ANCHORS: Walmart and Lowe’s SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 45
Slide 46: Vision: Pickering
VISION PICKERING | 5,000,000 SF DURHAM LIVE PHASE 1 3 RESIDENTIAL TOWERS PICKERING GO STN • MASTERPLAN: Condos, towns, seniors’ and apartments • PHASE 1: 3 residential towers (922 units) • STATUS: Official Plan, Zoning and Phase 1 Site Plan Applications submitted SMARTCENTRES REIT | Q2 2021 INVESTOR
Slide 47: Existing: Toronto (Eglinton West)
EXISTING TORONTO (EGLINTON WEST) – 9 AC KEELE ST • LOCATION: Future multimodal transit hub, with new Eglinton Crosstown LRT station and new Barrie-line GO station to open on site • RETAIL: 140,000 SF • ANCHORS: Canadian Tire and FreshCo SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 47
Slide 48: Vision: Toronto (Eglinton West)
VISION TORONTO (EGLINTON WEST) – 3,000,000 SF CALEDONIA LRT & GO STN PHASE 1 1 RESIDENTIAL TOWER 360,000 SF KEELE ST • PHASE 1: 35-storey, 433-unit condo, 360,000 SF • STATUS: Zoning and Site Plan Application submitted SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 48
Slide 49: Existing: Vaughan (Hwy 400 & 7)
EXISTING VAUGHAN (HWY 400 & 7) | 20 AC WESTON RD • LOCATION: Highly visible site along Highway 7, separated from SmartVMC by Highway 400 • TRANSIT: Serviced by VIVA Rapid Transit, with direct connection to the TTC SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 49
Slide 50: Vision: Vaughan (Hwy 400 & 7)
VISION VAUGHAN (HWY 400 & 7) | 5,100,000 SF WESTON RD PHASE 1 4 RESIDENTIAL TOWERS • POTENTIAL: 14 buildings and 3,900 residential units • PHASE 1: 4 residential towers, 1,742 units • STATUS: Official Plan, Zoning and Phase 1 Site Plan Applications submitted SMARTCENTRES REIT | Q2 2021 INVESTOR PRES
Slide 51: Existing: Vaughan Northwest
EXISTING VAUGHAN NORTHWEST – 41 AC CITY VIEW BLVD VELLORE PARK AVE OPENED JAN 2021 • LOCATION: 1 km from Canada’s first smart hospital (Opened February 2021) • RETAIL & SELF STORAGE: 304,000 SF • ANCHOR: Walmart Town Hall September 2013 SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 51
Slide 52: Vision: Vaughan Northwest
VISION VAUGHAN NORTHWEST – 1,700,000 SF CITY VIEW BLVD VELLORE PARK AVE OPENED JAN 2021 PHASE 2 2 SENIORS’ BUILDINGS PHASE 1 TOWNHOMES PHASE 3 3 RESIDENTIAL BUILDINGS • PHASE 1: 179 freehold townhouses with Fieldgate • PHASE 2: Revera JV seniors’ apartment and retirement residence (450+ units combin
Slide 53: Existing: Montreal (Kirkland)
EXISTING MONTREAL (KIRKLAND) – 16 AC BOUL. ST- CHARLES RUE MOUNTAIN VIEW PHASE 1 RESIDENTIAL CHEMIN SAINTE-MARIE • LOCATION: Well-located on the south side of Hwy 40 REM STATION • RETAIL: 207,000 SF (UNDER CONSTRUCTION) • ANCHOR: Walmart SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 53
Slide 54: Vision: Montreal (Kirkland)
VISION MONTREAL (KIRKLAND) – 750,000 SF BOUL. ST- CHARLES PHASE 1 RESIDENTIAL RUE MOUNTAIN VIEW CHEMIN SAINTE-MARIE • TRANSIT: REM station under construction • PHASE 1: 10-storey residential tower (170 units) REM STATION (UNDER CONSTRUCTION) • STATUS: Construction anticipated to commence this year S
Slide 55: Existing: Montreal (Laval Centre)
EXISTING MONTREAL (LAVAL CENTRE) – 43 AC PHASE 1 APARTMENTS BOUL DANIEL JOHNSON BOUL CHOMEDEY • ANCHOR: Walmart Supercentre • LAND SALES: Parcels sold to develop a seniors’ residence, hotel and office Town Hall September 2013 SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 55
Slide 56: Equinoxe Daniel-Johnson – 90% Occupied
EQUINOXE DANIEL-JOHNSON – 90% OCCUPIED BOUL DANIEL JOHNSON • PHASE 1: 1st of 2 15-storey Equinoxe Daniel-Johnson BOUL CHOMEDEY rental apartments (382 units) opened in March 2020 • STATUS: Construction expected to begin on the 2nd tower Fall 2021 SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 56
Slide 57: Vision: Montreal (Laval Centre)
VISION MONTREAL (LAVAL CENTRE) – 2,900,000 SF BOUL DANIEL JOHNSON BOUL CHOMEDEY • POTENTIAL: Current master plan includes 2.9 M SF of density. The full property has 4.5M SF of potential. Town Hall September 2013 SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 57
Slide 58: Existing: Montreal (Mascouche)
EXISTING MONTREAL (MASCOUCHE) – 74 AC TRAIN STATION BOUL. DE L’ESPLANADE PHASE 1 RESIDENTIAL MONTÉE MASSON • RETAIL: 470,500 SF • ANCHOR: Walmart SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 58
Slide 59: Vision: Montreal (Mascouche)
VISION MONTREAL (MASCOUCHE) – 1,500,000 SF PHASE 1 TRAIN 2 RENTAL APARTMENTS STATION 244,000 SF SENIORS’ BOUL. DE L’ESPLANADE RESIDENCES MONTÉE MASSON • PHASE 1: 2 10-storey residential towers (238 units) with COGIR (80% SmartCentres ownership) • STATUS: Under construction SMARTCENTRES REIT | Q2 202
Slide 60: Existing: Montreal (Mirabel)
EXISTING MONTREAL (MIRABEL) – 122 AC CHEMIN NOTRE-DAME BOUL. VERSAILLES RUE DE CHAMBORD PHASE 1 & 2 • SmartCentres recently purchased Simon’s interest in the 50 AC parcel, doubling the REIT’s interest to 66%. Town Hall September 2013 SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 60
Slide 61: Vision: Montreal (Mirabel)
VISION MONTREAL (MIRABEL) – 4,500,000 SF HOTEL CHEMIN NOTRE-DAME BOUL. VERSAILLES RETAIL MIXED USE 8-10 STOREYS PHASE 2 MULTI-RESIDENTIAL RESIDENTIAL TOWER 4-8 STOREYS PHASE 1 RESIDENTIAL TOWER 167,500 SF RUE DE CHAMBORD • PHASE 1: 8-storey 168-unit rental tower • STATUS: Zoning approved for 4,000 r
Slide 62: Existing: Montreal (Pointe-Claire)
EXISTING MONTREAL (POINTE-CLAIRE) – 23 AC REM FAIRVIEW POINT-CLAIRE STATION • LOCATION: Montreal’s West Island with new Light Rail Transit line to downtown • RETAIL: 384,000 SF • ANCHORS: Walmart and Home Depot SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 62
Slide 63: Vision: Montreal (Pointe-Claire)
VISION MONTREAL (POINTE-CLAIRE) – 2,500,000 SF REM FAIRVIEW POINT-CLAIRE STATION PHASE 1 2 TOWERS • PHASE 1: 2 16-storey residential towers (300 units) • STATUS: Zoning secured for multiple uses including residential, seniors housing and office on the perimeter of the property SMARTCENTRES REIT | Q2
Slide 64: Innovation: Generating New Revenue Sources
DIGITAL SIGNAGE EV CHARGING STATIONS INNOVATION PENGUIN PICKUP 5G CELL TOWERS GENERATING NEW REVENUE SOURCES SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 64
Slide 65: Financial Highlights
FINANCIAL HIGHLIGHTS
Slide 66: Total Returns to Unit Holders
TOTAL RETURNS TO UNIT HOLDERS $1,400 14.0% AVERAGE ANNUAL $1,200 RETURN SINCE IPO $1,172.95 (as of August 12, 2021) $1,000 $800 $655.82 $600 $540.95 $400 $200 $0 SmartCentres TSX Capped REIT TSX Composite SMARTCENTRES REIT | Q2 2021 INVESTOR PRESENTATION 66
Slide 67: Stable Cashflow
STABLE CASHFLOW (5) 83.1% 81.8% 83.0% 87.5% 87.2% 84.5% PAYOUT RATIO 2016 2017 2018 2019 2020 Q2 2021 in thousands of dollars (except per Unit information) FFO per Unit(1) 2.17(3) 2.20 2.28 2.26(4) 2.20 ACFO per Unit(2) 2.00(3) 2.10 2.13 2.08(4) 2.11 Distributions per Unit 1.66 1.71 1.76 1.81 1.85 S
Slide 68: Total Assets Valued at $10.0B
TOTAL ASSETS VALUED AT $10.0B TOTAL ASSETS 12.0 (in billions of $) 1.90 10.7 Annualized Distributions ($ per Unit) 10.0 27.7% CAGR 9.4 9.5 9.9 10.0 1.80 since 2002 8.5 8.7 1.70 8.0 7.1 7.1 1.60 6.5 6.0 6.0 1.50 4.2 4.2 4.4 3.9 1.40 4.0 3.6 2.6 1.30 2.0 1.0 1.20 0.1 0.2 - 1.10 2002 2003 2004 2005 200
Slide 69: Debt/Maturity/Leverage
DEBT/MATURITY/LEVERAGE DEBT MATURITY (in millions of $) 600 510 550 450 371 400 300 300 279 250 200 170 200 142 119 100 150 82 87 80 25 26 14 12 33 9 3 0 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 BEYOND Secured Debt Unsecured Debentures Unsecured Bank Loans Equity Accounted Investments Debt
Slide 70: CECENTRESLIVINGSENIORSS
CECENTRESLIVINGSENIORSS ORAGEOFFICEINDUSTRIALEN RESLIVINGSENIORSSTORAGE OFFICECENTRESLIVINGSENIC RSSTORAGEOFFICEINDUSTRI CENTRESLIVINGSENIORSST( RAGEOFFICEINDUSTRIALCEN RESLIVINGSENIORSSTORAGE OFFICECEN? = S7IVINGSENIC
SmartCentres Real Estate Investment Trust — Investor Presentation (September 2021) on 6ix