Us Masters Residential Property Fund · ASX:URF
Us Masters Residential Property Fund — Q3 2024 Earnings Presentation
12 slides from Us Masters Residential Property Fund's earnings presentation, Dec 3, 2024
Slide 1: Q3 2024 Webinar Update
For personal use only Q3 2024 Webinar Update 3 December 2024
Slide 2: Disclaimer
Disclaimer This Webinar Presentation Update (Update) has been prepared and authorised for release by US Masters Responsible Entity Limited (ACN 672 783 345 | AFSL 553 794) (Responsible Entity) as the Responsible Entity of the stapled group, comprising US For personal use only Masters Residential Pro
Slide 3: Q3 2024 Update
Q3 2024 Update • 30 property sales during the quarter for a total of US$45 million. • Sales pipeline of US$148.32 million as of 30 September 2024, with US$52.34 million of For personal use only this under contract or with an accepted offer. • The Group has continued with directing excess cash to cap
Slide 4: RE Operational Update
RE Operational Update • The Board continues to focus on the execution of the asset sales program in order to realise value and return capital to unitholders as quickly and efficiently as possible. For personal use only • After period end, the Board announced the appointment of Sean Banchik as a non-
Slide 5: Asset Sales Program
Asset Sales Program The Group set a target of US$150 million in property sales during the 2024 calendar year. Though there is no guarantee that assets under contract will close, the Group is optimistic that it will meet the 2024 sales target by year-end. For personal use only The Group had close
Slide 6: Capital Management
Capital Management Global Atlantic Term Loan: 30 September 2024 For personal use only As a result of property sales, total debt reduced by US$24.5 million in Q3 2024. Buyback Program During the quarter, the Group executed on the purchase of 7.69 million URF Stapled Securities for an aggregate consid
Slide 7: Capital Management
Capital Management For personal use only Management continues to review the most tax effective manner to repatriate proceeds from the US to Australia. Once this review is complete, and any changes or recommendations are implemented, the Group expects to increase the level of repatriations from the U
Slide 8: Net Operating Income ($USD)
Net Operating Income ($USD) The Fund’s trailing 1-4 family same-home Net Operating Income (NOI) to 30 September 2024 was US$11.2 million. For personal use only Source: US REIT. Notes: Figures may not sum due to rounding. Note: “Same-home” assets by segment will not 8 match the total portfolio distri
Slide 9: General and Administrative expenses
General and Administrative expenses 18.0 $16.3m 16.0 1.0 For personal use only 1.7 US Management Fees 14.0 $12.7m 1.5 One-off Australian G&A 12.0 0.8 2.7 One-off severance costs 1.2 One-off restructuring costs 10.0 0.5 0.5 $9.2m One-off transaction related costs 0.9 8.0 2.0 One-off Lease Write Off 1
Slide 10: Funds from Operations (FFO)
Funds from Operations (FFO) Excluding disposal costs and non-recurring items, the FFO loss for the nine months ended 30 September 2024 was $4.8 million. For personal use only Source: US REIT. Excludes Convertible Preference Unit (URFPA) distributions as they are equity distributions. AUD/USD average
Slide 11: Q&A
For personal use only Q&A
Slide 12: For further information
For further information For personal use only Investor Relations URFInvestorRelations@usmrpf.com 12
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