Firm Capital Mortgage Investment Corporation · TSX:FC
Firm Capital Mortgage Investment — Firm Capital Apartment REIT — Shareholder Meeting (June 2024)
14 slides from Firm Capital Mortgage Investment's shareholder meeting presentation, Jun 20, 2024
Slide 1: 2024 Annual & Special Meeting of Unitholders
TSXV: FCA.U/FCA.UN 2024 ANNUAL & SPECIAL MEETING OF UNITHOLDERS. FIRM CAPITAL APARTMENT REIT (TSXV: FCA.U/FCA.UN) THURSDAY, JUNE 20, 2024 AT 11:30 A.M. TO 12:30 P.M. EDT Register to listen to the Annual and Special Meeting of Unitholders conference call – June 20, 2024
Slide 2: Contents
Contents STRATEGIC REVIEW 3 Q1/2024 FINANCIAL HIGHLIGHTS 9 STRATEGIC ASSET DISPOSITION INITIVATIVES 4 STRATEGIC INITIATIVES & AVERAGE RENT INCREASE 10 PROPERTY SUMMARY 5 INSIDER PARTICIPATION 11 INVESTMENT PROFILE 6 BOARD OF TRUSTEES 12 PORTFOLIO BY INVESTMENT TYPE & GEOGRAPHY 7 CONTACT INFORMATION
Slide 3: Strategic Review
Strategic Review • The current macro environment of heightened interest rates and persistent inflation is presenting a challenging investing environment. Particularly, capitalization rates on apartment buildings are below the cost of five-and ten-year mortgage debt, resulting in a negative investing
Slide 4: Strategic Asset Disposition Initiatives
Strategic Asset Disposition Initiatives Sale Status of Properties in the Investment Portfolio (US$ in millions) Gross Sale Net Sale Asset Status Sold Date Property Location Comments Amount Amount Sold Jun. 22/23 Texas (Austin) $12.6M $8.8M Proceeds used to pay mortgage debt, bank indebtedness and ma
Slide 5: Property Summary
Property Summary1 South Dakota New York Prop. Units Loan Value1 FCA Share2 Prop. Units Loan Value1 FCA Share2 Strategically located in: 18 707 $3.5M $3.5M 3 130 $14.8M $3.1M New York • Major cities in primary & Prop. Units Asset Value1 FCA Share3 3 132 $18.9M $9.5M secondary markets with strong dema
Slide 6: Investment Profile
Investment Profile • FCA REIT’s real estate investment portfolio is comprised of 1,252 residential units across 10 apartment properties in 6 U.S. states and provides a broad platform for further external growth opportunities • FCA REIT’s preferred capital investments is currently comprised of 3 pref
Slide 7: Investment Portfolio By Investment Type & Geography
Investment Portfolio By Investment Type & Geography Portfolio Asset Value by Class Portfolio Asset Value by Region Disciplined Investing ● Capital Preservation 7
Slide 8: Sum of Parts Net Asset Value (NAV) Per Unit
Sum of Parts Net Asset Value (“NAV”) Per Unit Breakdown of NAV by Investment Type Preferred Capital Investments Joint Ventures Wholly Owned Investment Properties $8.00 NAV/UNIT: $6.69 $7.00 $6.00 $5.00 $3.55 51% Discount to NAV $4.00 $3.26 Trading Price/Unit $3.00 $2.00 $2.44 $1.00 $0.70 $- Discipli
Slide 9: Q1/2024 Financial Highlights
Q1/2024 Financial Highlights Quarter Ended Quarter Ended Quarter Ended In USD$ millions, unless per unit or % amounts Mar. 31, 2024 Dec. 31, 2023 Mar. 31, 2023 AFFO $(0.042) $(0.318) $0.154 AFFO/Unit $(0.01) $(0.04) $0.02 NAV/Unit $6.69 $6.76 $7.52 Distributions/Unit - - - Leverage (Mortgages / Inve
Slide 10: Strategic Initiatives and Average Rent Increase
Strategic Initiatives and Average Rent Increase • FCA REIT has strategies in-place to ensure its assets intrinsic value, superior service to tenants, high-quality tenant base, ability to charge premium rents, and participation in growing industry trends toward sustainable living and operating initia
Slide 11: Insider Participation – A True Alignment of Interests
Insider Participation – A True Alignment of Interests • Senior Management and the Board have a true alignment of interests with Unitholders, having ownership interest consisting of 13% of the common equity & preferred capital in FCA REIT, as well as controlling 28.0% of the outstanding Trust units i
Slide 12: Highly Experienced Management & Board of Trustees
Highly Experienced Management & Board of Trustees • Director of Mortgage Investment Corporation (TSX:FC) • Trustee of Firm Capital Property Trust (TSX: FCD.UN) Geoffrey Bledin • Chairman & Trustee of Firm Capital Private Equity Realty Trust Chairman, Independent Trustee • Former President and CEO of
Slide 13: Contact Information
Contact Information OUR CORE PRINCIPLES TRUST INNOVATION RELATIONSHIPS Our partners, investors and clients Firm Capital brings an Firm Capital builds strong, long- can trust Firm Capital to execute on innovative approach to term relationships with its our commitment. structuring a transaction. partn
Slide 14: Disclaimer
Disclaimer This presentation is for informational purposes only and not intended for solicitation. This presentation may not provide full disclosure of all material facts relating to the investment and or security being offered. If applicable, Investors should read the most recent Financial Reports
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