Northview Residential REIT · TSX:NRR.UN
Northview Residential REIT — Investor Presentation (September 2023)
16 slides from Northview Residential REIT's investor presentation, September 2023
Slide 1: Northview Residential REIT September 2023
Northview Residential REIT September 2023
Slide 2: Disclaimer
Disclaimer Certain information contained in this presentation constitutes forward-looking information within the meaning of applicable securities laws. Statements that reflect Northview Residential REIT’s (“Northview” or the “REIT”) objectives, plans, goals, and strategies are subject to risks, unce
Slide 3: Northview Residential REIT
Northview Residential REIT One of Canada's largest publicly traded multi-family REITs with over $2.7 billion in assets Portfolio of approximately 14,422 residential units, 200 execusuites, and 1.25 million square feet of commercial space across eight provinces and two territories 2
Slide 4: Northview Highlights
Northview Highlights Portfolio diversification with significant scale Stable / strengthening operating performance Growth: organic & acquisitions Compelling valuation Strategic and growing alignment with institutional sponsors Exemplary governance Enhanced access to capital and greater unitholder li
Slide 5: 2023 Recapitalization Transaction
2023 Recapitalization Transaction Traditional REIT Structure Internal & Experienced Management • TSX-Listed • Internalized asset management activities • New Ticker: NRR.UN • Continuity of existing management team • Open-ended, perpetual vehicle • Sustainable payout ratio and distribution Portfolio A
Slide 6: Operational Performance
Operational Performance • Since inception, Northview’s occupancy has increased by more than 540bps; Western Canada’s occupancy increased noticeably by 920 bps since 2020 • The substantial growth in occupancy is accompanied with a concurrent upward trend in Northview’s average monthly rent ("AMR") in
Slide 7: Growth Opportunities
Growth Opportunities Expansion of National Footprint Organic Growth Opportunities • Over 3,300 residential suites recently • Organic NOI growth to be achieved through acquired across Western Canada, rental rate growth and occupancy Ontario, Québec, and Atlantic Canada improvements, demonstrated by N
Slide 8: Proven Track Record of Acquisition Execution
Proven Track Record of Acquisition Execution • The Northview management team successfully executed $672 million of growth acquisitions for Northview Apartment REIT from 2017 to 2019, as well as the $742 million acquisition for Northview Residential REIT via the recent recapitalization transaction •
Slide 9: Compelling Valuation and Attractive Yield
Compelling Valuation and Attractive Yield • Trading at a substantial discount to NAV, Northview’s high-quality portfolio and operational strength presents a compelling value proposition for investors • Northview offers an attractive distribution yield at ~9% with a sustainable payout ratio Premium /
Slide 10: Aligned Sponsors and Institutional Relationships
Aligned Sponsors and Institutional Relationships The REIT will continue to benefit from its strategic relationship with its sponsors and institutional investors: • The REIT has an established track record of executing off-market acquisitions by acquiring approximately $1.1 billion of assets through
Slide 11: Debt Management Strategy
Debt Management Strategy Focus on repayment of Credit Facility with approximately $130 million repaid to date in 20231 • Recapitalization transaction and the refinancing of Northview’s high-quality portfolio have increased the proportion of fixed rate debt to 71% • Continue to benefit from lower fix
Slide 12: Environmental, Social, and Governance (ESG)
Environmental, Social, and Governance (ESG) • Northview understands the importance of ESG and is committed to enhancing its long-term ESG strategy • The REIT assesses sustainability-related opportunities on an on-going basis, supports diversity and inclusion efforts, provides a safe and healthy envi
Slide 13: Highly Experienced Management Team With Proven Track Record
Highly Experienced Management Team With Proven Track Record Northview benefits from a highly experienced internal management team, who have intimate knowledge of the entire portfolio and a proven track record of value creation for investors Todd Cook Sarah Walker Chief Executive Officer Chief Financ
Slide 14: Strong Board of Trustees
Strong Board of Trustees Trustee Principal Occupation Daniel Drimmer1 Founder and CEO of Starlight Investments Chairman Todd Cook1 Chief Executive Officer of Northview Residential Trustee REIT Rob Kumer President and Chief Investment Officer of Trustee, Member of the Audit KingSett Capital Inc. Comm
Slide 15: Contact Information
Contact Information Cedar Manor, Lloydminster, Alberta Todd Cook Sarah Walker Chief Executive Officer Chief Financial Officer (403) 531-0720 (403) 531-0720 tcook@nvreit.ca swalker@nvreit.ca 14
Slide 16: Northview
Northview A
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