Smartcentres Real Estate Investment Trust · TSX:SRU.UN
Smartcentres Real Estate Investment Trust — Investor Presentation (May 2021)
72 slides from Smartcentres Real Estate Investment Trust's investor presentation, May 2021
Slide 1: Investor Presentation May 2021
INVESTOR PRESENTATION MAY 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 28 SUPPORTING CANADIANS 5 SMARTVMC 29 CENTRAL MARKETPLACE 6 ALLISTON 37 TENANT BASE & CASHFLOWS 7 CAMBRIDGE 39 RENT COLLECTION 8 OAKVILLE NORTH 41 DEVELOPMENT ACTIVITY 9 OAKVILLE SOUTH 43 OTTAWA SOUTHWEST 45 CREATING VALUE 10 PICKERING 47 SMARTCENTRES TIMELINE 1
Slide 4: COVID-19 Update
COVID-19 UPDATE
Slide 5: Helping Canadians Is in Our DNA
HELPING CANADIANS IS IN OUR DNA MARCH 2020 | JANUARY 2021 | SmartCentres offered Canadian governments and SmartCentres has offered free space for vaccination health care institutions the use of 1 million SF centres across the country, to help fast track of rent-free built space, land and parking lot
Slide 6: Central Essential Service Centres
CENTRAL ESSENTIAL SERVICE CENTRES INCOME NET IN-PLACE PRODUCING OPERATING OCCUPANCY GROCERY/ PROPERTIES INCOME RATE PHARMACY # % % % GREATER- VECTOM 98 73 96.8 100 PRIMARY 32 16 96.4 100 SECONDARY 27 11 98.5 100 TOTAL 157 100% 97.0% 100% SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 6
Slide 7: 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 8: Q1 Rent Collections Exceeded 94%
Q1 RENT COLLECTIONS EXCEEDED 94% 96.1% 95.6% 87.3% 92.5% 84.0% 83.5% 76.9% 77.5% 80.8% 86.0% 89.4% 89.5% 95.1% 94.9% 93.4% 93.8% 93.9% 94.5% APRIL MAY JUNE JULY AUG SEPT OCT NOV DEC JAN FEB MAR 2020 2021 Rent collected including CECRA (Program ended on Sept 30, 2020) Pre-COVID rent collections consi
Slide 9: Accelerated Development Activity
ACCELERATED DEVELOPMENT ACTIVITY +42M SF of net additional density advanced Supported by a strong financial position: 34M SF $5.9B $1.14B during Covid-19 income-producing unencumbered LIQUIDITY portfolio asset pool cash + line of credit + accordion feature SMARTCENTRES REIT | Q1 2021 INVESTOR PRESEN
Slide 10: Creating Value
CREATING RESIDENTIAL RISING UP VALUE THROUGH REAL ESTATE DEVELOPMENT Town Hall September 2013
Slide 11: 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” $13.5B TRANSORMATION OF (Ul
Slide 12: Mitchell Goldhar, Executive Chairman
EXECUTIVE CHAIRMAN 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 • He is personally leading
Slide 13: 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 | Q1 2021 INVESTOR PRESENTATION 13
Slide 14: 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 15: 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 16: Project 512
RAPID REPOSITIONING OF OUR PORTFOLIO “PROJECT 512” SmartCentres’ publicly announced $13.5B transformation of existing properties ‘From Shopping Centres to City Centres’ REIT SHARE Property identified for transformation $7.9B Property under review for transformation “PROJECT CURRENT PORTFOLIO 512” SM
Slide 17: 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 3.8 3.
Slide 18: 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 | Q1 2021 INVESTOR PRE
Slide 19: 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 (Q2/Q3) 2022 - 2023 2023 TRANSIT CITY 1 & 2 TRANSIT CITY 3 VAUGHAN NORTHWEST TRANSIT CITY 4 & 5
Slide 20: Unlocking $3.4B of Potential Value
PROJECT 512: UNLOCKING $3.4B OF POTENTIAL VALUE 57 82 145 284 UNDERWAY ACTIVE FUTURE TOTAL CONSTRUCTION INITIATION (Years) 1 2 3 4 5 6+ PLANNING ENTITLEMENTS (#) 38 52 74 164 PROJECT SF (SF Millions) 12.5 15.2 27.7 55.4 REIT SHARE 6.7 9.5 16.3 32.5 POTENTIAL VALUE CREATION $1,072.0 $925.2 $1,404.6 $
Slide 21: 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 | Q1 2021 INVESTOR PRESENTATION 21
Slide 22: 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 beyond current IFRS value • PHASE 1: 2 condo towers (839 units) with potential value creation of $40
Slide 23: Revera JV Projects
PARTNERSHIP UPDATE 7 REVERA JV PROJECTS APPROXIMATELY 1,300 UNITS ACROSS 6 REIT PROPERTIES • 6% - 8% yield expected once stabilized • Seniors’ apartments & retirement residences (no long-term care) PROJECTS: • Markham • Oakville (X2 projects) • Richmond Hill • Toronto - Bathurst & Wilson (Penguin ow
Slide 24: SmartStop JV Projects
PARTNERSHIP UPDATE 12 SMARTSTOP JV PROJECTS 11,000 UNITS AND 1.1 MILLION SF OF NEW DEVELOPMENT OPEN AND IN LEASE-UP: • Dupont St: Acquired Fall 2019 • Leaside: Opened June 2020 • Brampton: Opened Nov 2020 • Vaughan: Opened Jan 2021 UNDER CONSTRUCTION: • Oshawa • Scarborough OTHER: • Brampton (Kingsp
Slide 25: Greenwin JV Projects
PARTNERSHIP UPDATE 2 GREENWIN JV PROJECTS 2,150 UNITS ACROSS 2 PROPERTIES BARRIE WATERFRONT TORONTO – BALLIOL ST • 7.8 acres on the waterfront • 1.15 acres at Yonge & Davisville • Zoning approved for 4 25-storey mixed-use towers • Steps from Davisville subway including residential, retail and hotel
Slide 26: Major Mixed-Use Development Initiatives
MAJOR MIXED-USE DEVELOPMENT INITIATIVES GLA SRU Estimated Costs ($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 27: Residential Rising Up Projects Underway
RESIDENTIAL RISING UP 57 PROJECTS UNDERWAY Town Hall September 2013 SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 27
Slide 28: Featured Properties
FEATURED PROPERTIES ONTARIO 1. SMARTVMC (VAUGHAN METROPOLITAN CENTRE) | 100 ACRES – Page 30 2. ALLISTON | 39 ACRES – Page 37 3. CAMBRIDGE | 73 ACRES – Page 39 4. OAKVILLE NORTH | 52 ACRES – Page 41 5. OAKVILLE SOUTH | 21 ACRES – Page 43 6. OTTAWA SOUTHWEST | 15 ACRES – Page 45 7. PICKERING | 48 ACRE
Slide 29: Vaughan: The New City Centre
VAUGHAN THE NEW CITY CENTRE 29
Slide 30: Existing
EXISTING THE NEW CITY CENTRE | 100 AC • TRANSIT: TTC subway station, regional bus terminal, VIVA rapid transit station • New 140,000 SF Walmart: Opened October 2020, freeing up 15.5 acres of prime real estate for development SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 30
Slide 31: Vision
VISION – 20,000,000 SF • 3.5 million SF built or under construction SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 31
Slide 32: 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 • $20 million in profit anticipated from Transit City 3 in Q2 & Q3 2021 • TC Towns: 22 townhouses | 100% presold | late 2021 delivery
Slide 33: 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 | Q1 2021 INVESTOR PRES
Slide 34: 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 | Q1 2021 INVESTOR PRESENTATION 34
Slide 35: Moving Forward: Zoning & Site Plan Applications Submitted
MOVING FORWARD | ZONING & SITE PLAN APPLICATIONS SUBMITTED 2.2 4 acres acres 3 RESIDENTIAL 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 | Q1 2021 INV
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 | Q1 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 | Q1 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 | Q1 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, institutional and other uses • MASTERPLAN: 10,000 new residential units, including rental ap
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 | Q1 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, 575 units and 470,000 SF 2 RESIDENTIAL TOWERS • MASTERPLAN: Residential, commercial and retail SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 42
Slide 43: Existing: Oakville South
EXISTING OAKVILLE SOUTH – 21 AC LAKESHORE RD W • RETAIL: 330,000 SF • ANCHORS: Metro Foods, Shoppers Drug Mart, LCBO, Winners and Goodlife Fitness SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 43
Slide 44: Vision: Oakville South
VISION OAKVILLE SOUTH – 430,000 SF PHASE 1 REVERA & TOWNHOMES LAKESHORE RD W • PHASE 1: Revera seniors' residence with 161 units and 86 townhomes SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 44
Slide 45: 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 | Q1 2021 INVESTOR PRESENTATION 45
Slide 46: Vision: Ottawa Southwest
VISION OTTAWA SOUTHWEST – 665,000 SF PHASE 1 SENIORS’ RESIDENCE • PHASE 1: 2 15-storey retirement towers (410 units) with Selection Group • STATUS: Site Zoned, approvals in place and construction expected to begin Q2 2021 SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 46
Slide 47: 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 | Q1 2021 INVESTOR PRESENTATION 47
Slide 48: Vision: Pickering
VISION PICKERING | 5,000,000 SF DURHAM LIVE PHASE 1 2 RESIDENTIAL TOWERS PICKERING GO STN • MASTERPLAN: Condos, towns, seniors’ and apartments • PHASE 1: 2 residential towers (33/34 storeys, 737 units) • STATUS: Official Plan, Zoning and Phase 1 Site Plan Applications submitted SMARTCENTRES REIT | Q
Slide 49: 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 | Q1 2021 INVESTOR PRESENTATION 49
Slide 50: Vision: Toronto (Eglinton West)
VISION TORONTO (EGLINTON WEST) – 3,000,000 SF CALEDONIA LRT & GO STN PHASE 1 1 RESIDENTIAL TOWER 320,000 SF KEELE ST • PHASE 1: 35-storey, 400-unit condo • STATUS: Zoning and Site Plan Application submitted SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 50
Slide 51: 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 | Q1 2021 INVESTOR PRESENTATION 51
Slide 52: 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 | Q1 2021 INVESTOR PRES
Slide 53: Existing: Vaughan Northwest
EXISTING VAUGHAN NORTHWEST – 41 AC CITY VIEW BLVD OPENED JAN 2021 • LOCATION: 1 km from Canada’s first smart hospital (Opened February 2021) • RETAIL: 397,500 SF • ANCHOR: Walmart Town Hall September 2013 SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 53
Slide 54: Vision: Vaughan Northwest
VISION VAUGHAN NORTHWEST – 1,700,000 SF CITY VIEW BLVD OPENED JAN 2021 PHASE 2 2 SENIORS’ TOWERS PHASE 1 TOWNHOMES PHASE 3 4 RESIDENTIAL BUILDINGS • PHASE 1: 179 freehold townhouses with Fieldgate • PHASE 2: Revera JV seniors’ apartment and retirement residence (450+ units across the 2 towers) • STA
Slide 55: 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 • RETAIL: 207,000 SF • ANCHOR: Walmart SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 55
Slide 56: 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 REM STATION units) (UNDER CONSTRUCTION) • STATUS: Construction anticipated to commence this year S
Slide 57: Existing: Montreal (Laval Centre)
EXISTING MONTREAL (LAVAL CENTRE) – 43 AC BOUL DANIEL JOHNSON PHASE 1 APARTMENTS BOUL CHOMEDEY • ANCHOR: Walmart Supercentre • LAND SALES: Parcels sold to develop a seniors’ residence, hotel and office Town Hall September 2013 SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 57
Slide 58: Equinoxe Daniel-Johnson: 91% Leased
EQUINOXE DANIEL-JOHNSON – 91% LEASED BOUL DANIEL JOHNSON • PHASE 1: 1st of 2 15-storey Equinoxe Daniel-Johnson BOUL CHOMEDEY rental apartments (342 units) closed March 2020 • STATUS: Construction expected to begin on the second 15-story tower Summer 2021 SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTA
Slide 59: Vision: Montreal (Laval Centre)
VISION MONTREAL (LAVAL CENTRE) – 4,500,000 SF BOUL DANIEL JOHNSON BOUL CHOMEDEY Town Hall September 2013 SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 59
Slide 60: Existing: Montreal (Mascouche North)
EXISTING MONTREAL (MASCOUCHE NORTH) – 39 AC TRAIN STATION BOUL. DE PHASE 1 L’ESPLANADE RESIDENTIAL MONTÉE MASSON • RETAIL: 54,000 SF • ANCHOR: Walmart SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 60
Slide 61: Vision: Montreal (Mascouche North)
VISION MONTREAL (MASCOUCHE NORTH) – 1,500,000 SF PHASE 1 TRAIN 2 RENTAL APARTMENTS STATION 244,000 SF SENIORS’ BOUL. DE RESIDENCES L’ESPLANADE MONTÉE MASSON • PHASE 1: 2 10-storey residential towers (238 units) with COGIR (80% SmartCentres ownership) • STATUS: Under construction SMARTCENTRES REIT |
Slide 62: 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 | Q1 2021 INVESTOR PRESENTATION 62
Slide 63: 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 170-unit rental tower • STATUS: Zoning approved for 4,000 r
Slide 64: 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 | Q1 2021 INVESTOR PRESENTATION 64
Slide 65: 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 | Q1
Slide 66: Ongoing Innovation
DIGITAL SIGNAGE EV CHARGING STATIONS INNOVATION PENGUIN PICKUP 5G CELL TOWERS GENERATING NEW REVENUE SOURCES SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 66
Slide 67: Financial Highlights
FINANCIAL HIGHLIGHTS
Slide 68: Total Returns to Unit Holders
TOTAL RETURNS TO UNIT HOLDERS $1,200 $1,110.35 13.9% AVERAGE ANNUAL $1,000 RETURN SINCE IPO (as of May 7, 2021) $800 $600 $598.62 $509.71 $400 $200 $0 SmartCentres TSX Capped REIT TSX Composite SMARTCENTRES REIT | Q1 2021 INVESTOR PRESENTATION 68
Slide 69: Stable Cashflow
STABLE CASHFLOW 83.1% 81.8% 83.0% 87.5% 87.2% 89.0%(5) PAYOUT RATIO 2016 2017 2018 2019 2020 Q1 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 Su
Slide 70: Total Assets Valued at $10.3B
TOTAL ASSETS VALUED AT $10.3B TOTAL ASSETS 12.0 (in billions of $) 1.90 10.7 Annualized Distributions ($ per Unit) 10.3 10.0 28.3% CAGR 9.9 1.80 9.4 9.5 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 71: Debt/Maturity/Leverage
DEBT/MATURITY/LEVERAGE DEBT MATURITY (in millions of $) 600 510 550 450 371 400 323 300 300 250 220 200 170 200 142 119 100 150 90 87 80 60 55 14 12 33 8 3 0 2021* 2022 2023 2024 2025 2026 2027 2028 2029 2030 BEYOND Secured Debt Unsecured Debentures Unsecured Bank Loans Equity Accounted Investments
Slide 72: CECENTRESLIVINGSENIORSS
CECENTRESLIVINGSENIORSS ORAGEOFFICEINDUSTRIALEN RESLIVINGSENIORSSTORAGE OFFICECENTRESLIVINGSENIC RSSTORAGEOFFICEINDUSTRI CENTRESLIVINGSENIORSST( RAGEOFFICEINDUSTRIALCEN RESLIVINGSENIORSSTORAGE OFFICECEN? = S7IVINGSENIC
SmartCentres Real Estate Investment Trust — Investor Presentation (May 2021) on 6ix