Inventrust Properties Corp. · NYSE:IVT
Inventrust Properties — Inland American Real Estate Trust — FY2010 Earnings Presentation
27 slides from Inventrust Properties's earnings presentation, Apr 5, 2011
Slide 1: Quarter & Full Year 2010 Financial Update
4% Quarter & Full Year 2010 Financial Update eer oz ie Be Inland American REAL ESTATE TRUST, INC INLAND®@
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation may contain forwarc-looking statements. Forwarc-looking statements are statements that are not historical, including statements regarding managements intentions, beliefs, expectations, representations, plans or precictios of the fuure, and aretypicaly ide
Slide 3: Inland American
Inland American * One of five REITs sponsored by an affiliate of The Inland Real Estate Group of Companies, Inc. + Largest non-traded REIT in a $70B industry * Our diversified portfolio provides stability to over 185,000 stockholders * Generates predictable dividends * Notcorrelated with the daily v
Slide 4: Inland American
Inland American Diversified portfolio of quality commercial real estate * Portfolio mitigates sector risk Wide range of asset types * Office + Retail * Lodging * Industrial / Distribution * Apartments * As of 12/31/2010 * 980 properties 48.2 million square feet of retail, office and industrial space
Slide 5: Geographic Diversification
Geographic Diversification As 0f 1231/2010 36 States + Washington DC
Slide 6: Tenant Mix & Stability
Tenant Mix & Stability % of Total Annualized Tenant Name Rating* Type Income Total SF SunTrust Banks BBB+ Retail/Office 8.6% 41% AT&T, Inc. A- Office 7.2% 6.4% Citizens Banks A- Retail 3.2% 1.8% Sanofi-Aventis U.S. Inc. AA- Office 2.5% 1.3% United Healthcare Services, Inc. NR Office 2.5% 2.2% C&S Wh
Slide 7: 2010 Total Revenue Grew 12%
2010 Total Revenue Grew 12% 2010 Revenue 2009 Revenue Total Revenue $1.23B Total Revenue $1.10B 8
Slide 8: 2010 Acquisitions
2010 Acquisitions Segment Property Gross Acquisition Price Sq Ft/Units/Rooms Retail 21 properties $613,600,000 4,744,384 quare feet Lodging 5 Hotels 130,000,000 1,005rooms Ind/Dist 7 Imagine Charter Schools 61,200,000 292,211 square feet Multi-family 2 Apartment Complexes 92,600,000 1,072 units Tota
Slide 9: Retail Portfolio Structure
Retail Portfolio Structure Largest asset class, 39% of core assets 735 Properties 21.6 M square feet 93% Occupancy, flat compared to prior year 79% of portfolio is necessity based Multi-Family Revenue grew 22% Ind/Dist Lodging
Slide 10: Retail - Lease Expiration
Retail - Lease Expiration 40% — 30% — 20% 6 10% 61% ane 6.1% cli ai = EH ws o HE 2011 2012 2013 2014 2015 Anchor Tenants —— STAPLES
Slide 11: Office Portfolio Structure
Office Portfolio Structure + 3 largest asset class, 18% of core assets * 93% Occupied * 69% of portfolio is categorized as high credit * 47 Properties * 10.6M square feet julti-Family Ind/Dist Lodging
Slide 12: Office - Lease Expiration
Office - Lease Expiration 40% 30% — 20% — 10% 19% 4.0% 3.5% 3.9% 0% | : Maa baal eo 2011 2012 2013 2014 2015 Major Tenants comcast.
Slide 13: Industrial / Distribution Portfolio Structure
Industrial / Distribution Portfolio Structure 4% largest asset class, 10% of core assets 64% of portfolio is categorized as high credit 72 Properties 16.0 M square feet Ind/Dist 95% Occupied Multi-Family, Retail Lodging
Slide 14: Industrial/Distribution - Lease Expiration
‘Industrial/ Distribution - Lease Expiration 40% 30% 20% | 10% 0% © 12.0% 2011 9.1% 2012 203 2014 Major Tenants VersaZold WAREHOUSE AND DISTRIBUTION SERVICES
Slide 15: Lodging Portfolio Structure
Lodging Portfolio Structure * 2nd largest asset class, 25% of core assets * 54% of the portfolio is branded by Marriott, 38% by Hilton * 86% of the portfolio is upscale & upper upscale hotels * 69% average occupancy vs. 58% U.S. average* Ind/Dist Retail *Source - Smith Travel Research
Slide 16: Lodging - Occupancy Rates
Lodging - Occupancy Rates 80% 70% 65% y 60% —~ 55% LV | : 40% 1 2007 2008 2009 2010 U.S. Occupancy Rate @ Inland American Occupancy Rate Source - Smith Travel Research
Slide 17: Lodging - RevPAR (Revenue per Available Room)
Lodging — RevPAR (Revenue per Available Room) $79 $76 2007 2008 2009 2010 US.RevPAR = Inland American RevPAR Rev PAR is a performance metric, which is calculated by multiplying a hotel's average daily room rate by its occupancy rate. Source - Smith Travel Research 18
Slide 18: Multi-Family Portfolio
¢ 8%ofcore assets « 27 Properties — 9,790 Units + Average age of properties is 7.9 years * 2010 occupancy rate = 90% Multi-Family $798M * Portfolio occupancy up 6% over 2009 8% Ind/Dist Lodging
Slide 19: Multi-Family: One Driver of an Improving Market
-Family One Driver of an Improving Market | U.S. Homeownership % 10% — 2% 68% 66% 64% - 62% 60% : 69.0% 68.9% 675% 672% | | 2004 2005 2006 2007 2008 2009 2010 Source -US.Department of Commerce
Slide 20: Multi-Family - Profitable Market Conditions
Multi-Family - Profitable Market Conditions Recent Dispositions Malibu Lakes W oodlands *Purchase Date (12/09) *Purchase Date (8/09) *Sale Date (12/10) *Sale Date (12/10) *Net Gain - $10.8M *Net Gain - $5.6M
Slide 21: Student Housing Development
Student Housing Development University of Central Florida (under construction)
Slide 22: Financial Results
Financial Results Total consolidated assets Total revenue Total cash Distributions declared Mortgage payable Ratio of total mortgage loans to total assets Weighted average interest rate (per annum) As ofand for Year Ended 12/3/2010 Asofand for Year Ended 12/31/2009 $1L.4B $11.3B $L.1B $500M $405M $5
Slide 23: Distribution Coverage
Distribution Coverage Cash flow from operations Distributions from unconsolidated entities Gain on sales of properties Retained earnings Total Distributions declared Distributions declared/share Year Ended Year Ended 12/31/2010 12/31/2009 $357M $369M $32M $32M $55M $4M $444M $405M $418M $405M $0.50
Slide 24: Manageable Debt Maturities
Manageable Debt Maturities Retired, Refinanced & Secured $1.4B in Debt in 2010 $3,000 ; td Fixed i Variable 2,500 $2,000 $1,500 $1,000 $500 $279M $46IM — i 2012 2014 2015 Percentageof Total Assets 4.7% 6.0% 8.9% 2.4% 4.0%
Slide 25: Inland American's Distributions
Inland American’s Distributions Total Distributions Since Inception = $1,500,000,000
Slide 26: Inland American's Business Strategy
Inland American’s Business Strategy * Preserve our conservative financial structure / maximize long-term stockholder value * Pursue lending opportunities with an attractive risk-adjusted return * Income & dividend growth * Focus on disciplined occupancy increases + Focus on rate increases in recover
Slide 27: Bic
Bic a, Inland American INLAND®@ REAL ESTATE TRUST, INC
Inland American Real Estate Trust — FY2010 Earnings Presentation on 6ix