Peakstone Realty Trust · NYSE:PKST
Peakstone Realty Trust — Griffin Capital Essential Asset REIT II — FY2017 Earnings Presentation
18 slides from Peakstone Realty Trust's earnings presentation, Mar 20, 2018
Slide 1: Earnings Call Presentation
2Q’2017 EARNINGS CALL PRESENTATION FOR FINANCIAL ADVISOR USE ONLY. NOT FOR INVESTOR USE. | We intend to invest in properties leased to blue chip tenants and/or companies with investment grade credit ratings. There is no guarantee all of our properties will be leased to blue chip tenants or companies
Slide 2: Conference Call Agenda
FOR FINANCIAL ADVISOR USE ONLY. NOT FOR INVESTOR USE. GRIFFIN CAPITAL 2 Conference Call Agenda TOPIC SPEAKER Introduction and Portfolio Characteristics Michael Escalante | President & Director Acquisition and Portfolio Update Michael Escalante | President & Director Financial Performance Review Javi
Slide 3: Acquisition and Portfolio Update
* a Verte mene el dt el |e OG e and Po plio _ i 2 | Presideni-.& Directs
Slide 4: Portfolio Characteristics
FOR FINANCIAL ADVISOR USE ONLY. NOT FOR INVESTOR USE. GRIFFIN CAPITAL 4 Portfolio Characteristics (1) Total capitalization includes the outstanding debt balance (excluding deferred financing costs and premiums/discounts), plus total equity raised and issued, including limited partnership units issue
Slide 5: Portfolio Characteristics (cont'd)
FOR FINANCIAL ADVISOR USE ONLY. NOT FOR INVESTOR USE. GRIFFIN CAPITAL 5 Portfolio Characteristics (cont’d) (1) Weighted average rental increase is based on the remaining term of the lease at acquisition date. Rental increase may differ based on the full lease term, which is from the original commenc
Slide 6: Slide 6
Slide 7: Portfolio Summary
FOR FINANCIAL ADVISOR USE ONLY. NOT FOR INVESTOR USE. GRIFFIN CAPITAL 7 Portfolio Summary as of December 31, 2017 (dollars in thousands) Property Location Tenant Acquisition Date Purchase Price Approximate Square Feet Credit Rating (S&P) Initial Capitalization Rate Year of Lease Expiration Net Renta
Slide 8: Portfolio Characteristics: Acquisitions
FOR FINANCIAL ADVISOR USE ONLY. NOT FOR INVESTOR USE. GRIFFIN CAPITAL 8 Portfolio Characteristics* Acquisitions through December 31, 2017 *Logos shown are those of tenants, lease guarantors, or non-guarantor parent companies at our properties. 6 16 17 18 137 19 8 18 4 5 12 13 14 21 * Logos shown are
Slide 9: Portfolio Concentration
FOR FINANCIAL ADVISOR USE ONLY. NOT FOR INVESTOR USE. GRIFFIN CAPITAL 9 Portfolio Concentration As of December 31, 2017 Consumer Services: 15.7% Utilities: 13.4% Capital Goods: 13.3% Technology Hardware & Equipment: 12.4% Diversified Financials: 7.6% Retailing: 7.4% Banks: 7.1% Energy: 5.3% Consumer
Slide 10: Portfolio Concentration: Geography and Asset Type
FOR FINANCIAL ADVISOR USE ONLY. NOT FOR INVESTOR USE. GRIFFIN CAPITAL 10 Ohio: 12.7% Illinois: 11.3% California: 11.1% Alabama: 10.9% New Jersey: 10.6%Arizona: 9.7% Nevada: 8.8% Texas: 5.3% Oregon: 4.2% North Carolina: 3.5% All Others: 11.9% GEOGRAPHIC DISTRIBUTION (By % of Annualized Net Rent) Port
Slide 11: Portfolio Concentration: Credit
FOR FINANCIAL ADVISOR USE ONLY. NOT FOR INVESTOR USE. GRIFFIN CAPITAL 11 Portfolio Concentration As of December 31, 2017 CREDIT CONCENTRATION (By % of Annualized Net Rent) (1) Investment grade descriptions are those of either tenants, guarantors, and/or non-guarantor parents with investment grade ra
Slide 12: Strong Tenant Profile - Top Tenants
FOR FINANCIAL ADVISOR USE ONLY. NOT FOR INVESTOR USE. GRIFFIN CAPITAL 12 Strong Tenant Profile - Top 10 Tenants As of December 31, 2017 (1) Based on net rental payment. (2) Ratings are those of tenants, guarantors, or non-guarantor parent entities. (3) Represents Moody’s rating. (4) Represents net r
Slide 13: Net Asset Value
FOR FINANCIAL ADVISOR USE ONLY. NOT FOR INVESTOR USE. GRIFFIN CAPITAL 13 Set forth below are the components of our daily NAV as of December 31, 2017 and September 30, 2017 calculated in accordance with our valuation procedures (in thousands, except share and per share amounts)(1): Net Asset Value As
Slide 14: Financial Performance Review
Slide 15: Financial Performance
FOR FINANCIAL ADVISOR USE ONLY. NOT FOR INVESTOR USE. GRIFFIN CAPITAL 15 Financial Performance (dollars in thousands, except per share amounts) (1) See reconciliation of net income/(loss) to adjusted EBITDA and coverage ratios in the earnings release filed on March 20, 2018. (2) FFO, as adjusted, re
Slide 16: Debt Maturity Schedule
FOR FINANCIAL ADVISOR USE ONLY. NOT FOR INVESTOR USE. GRIFFIN CAPITAL 16 Debt Maturity Schedule (including effect of interest rate swaps) As of December 31, 2017 (dollars in thousands) (1) Effective as of November 1, 2017, Griffin Capital Essential Asset Operating Partnership, L.P., an affiliated pa
Slide 17: Questions & Answers
Questions & Answers Michael Escalante | President and Director Javier Bitar | Chief Financial Officer
Slide 18: Thank you
q! eg ; Thank you for your participation. rooted §=www.sgriffincapital.com FOR FINANCIAL ADVISOR USE ONLY. NOT FOR INVESTOR USE. THIS IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY THE SECURITIES DESCRIBED HEREIN.
Griffin Capital Essential Asset REIT II — FY2017 Earnings Presentation on 6ix