Stratus Properties Inc. · NASDAQ:STRS
Stratus Properties — Investor Presentation (March 2020)
10 slides from Stratus Properties's investor presentation, Mar 25, 2020
Slide 1: Investor Presentation
STRAT U S* Investor Presentation March 25, 2020
Slide 2: Cautionary Statement and Regulation G Disclosure
(CAUTIONARY STATEMENT AND REGULATION G DISCLOSURE This presentation contains forward-looking statements in which Shatus discusses factor it believes may affect is fulure performance. Forward-looking statements are ail statements other than statements of historical facts, such o& plans, projections o
Slide 3: Estimated Net Asset Value
Estimated Net Asset Value As of 12/31/19 = Se sos ccsipa naw) fe Petcent of ulin 20% nav lo ui square Feet Rooms. sets eg | Cit fered ee) | ear | open | ee 1 Completed Commercial rropety 2 ces! oo mw - sees 251 31001008 4 The Santa! ftaton creen moMe com & Wesrtieen Manet Hes an wes >] tek & Lantana
Slide 4: Estimated Net Asset Value
Estimated Net Asset Value As of 12/31/19 = = a ae ee Percentof Tax ulin. 215. Coporie NAV toe | |e ee ee ee Same vaue® NAV Taina amis Gan at afro 2 Property Held for Future Use 2 enon Creek: Amana Mutifamly ana Commercial * mu wo ego) = = 100 2 Lantana office: ract Go4/Go7 + o - woo = = 100K Cree cr
Slide 5: Footnotes
Footnotes SF=Single-Family MF=Mult-Family O=Office R=Retail MU=Mixed Use For* and **, see Page 9. (4) @) (c) ) ic) (A (s) (H) o QW) ( io) (m) (N) (2) CCanying valves as of December 31, 2019. For a discussion of risks related to our business and properties, including but not limited to risks associat
Slide 6: Debt Detail
Debt Detail Debt as of 12/31/2019 millions) Commitment Qutstandin of TAV Recourse Construction ‘Amarra Residential Comerica $150 $57 1.8% 0.6% 470% Float Jones Crossing (College Station HEB) Southside Bank $368 $216 5.9% 2.4% 495% Float Killeen TX HEB Southside Bank $9 $73 20% 08% 4.45% Hoot Kingwoo
Slide 7: GAAP Reconciliation
GAAP Reconciliation After-tax NAV estimates the market value of Stratus’ assets ("gross value") and subtracts the book vaiue of Stratus’ total liabilities reported under GAAP (excluding deferred financing costs presented in debt), value attributable to third party owners, estimated HEB profits inter
Slide 8: GAAP Reconciliation
GAAP Reconciliation from the estimates ufilized by the appraiser, such as changes in the economy, interest rates, capitalization rates, the financial strength of certain tenants, the behavior of investors, lenders and consumers, and as of March 25, 2020 are particularly subject to change due to the
Slide 9: Key Appraisal Inputs
Key Appraisal Inputs Range In Values Weighted Average * Projects Appraised Primarily Using Income Capitalization Approach Terminal Capitalization Rate 4.75% to 7.25% 5.73% Discount Rate 6.00% to 7.75% 5.77% ** Projects Appraised Primarily Using Sales Comparison Approach Value per Land Square Foot $0
Slide 10: Sensitivity Analysis
Sensitivity Analysis Estimated After-Tax NAV at 12/31/19 After-Tax NAV with 10% Increase in Estimated Gross Value of Each Specified Property After-Tax NAV with 10% Decrease in Estimated Gross Value of Each Specified Property Increase or (Decrease: ( } Increase or (Decrease) fol Teun mw 8 ees hay 19
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