Inventrust Properties Corp. · NYSE:IVT
Inventrust Properties — Investor Presentation (May 2019)
17 slides from Inventrust Properties's investor presentation, May 20, 2019
Slide 1: Investor Presentation May 2019
Investor Presentation May 2019
Slide 2: Forward Looking Statements
Forward Looking Statements Forward-Looking Statements in this presentation, which are not as updated by any subsequent Quarterly Report on Form 10-Q, in historical facts, are forward-looking statements within the meaning each case as filed with the Securities and Exchange Commission. of the Private
Slide 3: 2019 Strategy
2019 Strategy o Grow same property NOI through favorable leasing, redevelopment & expense savings o Continue to evaluate disposition opportunities & execute on acquisition strategy o Maintain a flexible balance sheet o Continue to improve public company readiness and monitor market conditions for po
Slide 4: InvenTrust – A Unique Retail Platform
InvenTrust – A Unique Retail Platform The Right Properties in the Right Markets with Multiple Growth Drivers • Focused Portfolio In Sun Belt Markets o $3.4 Billion Retail REIT 1 / 73 Open-Air Retail Centers o Concentrated Portfolio = ~15 Sun Belt Markets with Superior Demographics (down from over 40
Slide 5: Sun Belt Focused Portfolio
Sun Belt Focused Portfolio 1 5
Slide 6: Portfolio Located in High Growth Markets
Portfolio Located in High Growth Markets By strategically targeting Sun Belt markets expecting significant near-term population and job growth, InvenTrust expects to have a sizeable advantage to capture future demographic shifts. Estimated Portfolio Population & Job Growth (’19 -’23) 8.0% IVT Peers
Slide 7: Current Retail Environment
Current Retail Environment1 1. Top grocers in a market continue to perform well a) Grocery stores drive traffic as consumers prefer fresh prepared food and reinvent the center of the store b) Grocery asset pricing up almost 20% to $221 per square foot since 2012 c) New grocery store openings increas
Slide 8: Portfolio Evolution to Grocery Anchored Assets
Portfolio Evolution to Grocery Anchored Assets By Net Operating Income 12/31/2015 03/31/2019 Strip Center Grocery - No Grocer Anchored Grocery 8% 48% Anchored 27% Power Center - Strip Center - No Grocer 81% No Grocer 71% 21% Grocery Grocery 2% 1 Anchored1 Anchored Power Center - No Power Grocer Cent
Slide 9: Completed Capital Recycling Impact
Completed Capital Recycling Impact InvenTrust has significantly improved the quality of its portfolio and operations with $3 billion of transaction volume since embarking on our capital recycling efforts in 2015. Acquisitions Dispositions completed completed since 2015 since 2015 27 65 #Properties G
Slide 10: Recent Acquisitions – Upgrading the Portfolio
Recent Acquisitions – Upgrading the Portfolio Lakeside Winter Park & Crossing Sandy Plains Centre Commons at University Place Winter Park, FL Marietta, GA Durham, NC • Annualized Base Rent per SF - $43.28 • Annualized Base Rent per SF - $20.50 • Annualized Base Rent per SF - $15.54 • Trader Joe’s an
Slide 11: Balanced Tenant Concentration
Balanced Tenant Concentration Top 10 Tenants as a Percentage of ABR Top Tenant # of Leases % of Total ABR 11 3.6% 14 3.2% 16 2.5% 15 2.4% 92.3% 82.2% 14 2.2% 13 2.2% 31.5% 71.1% Sub-Total 110 23.2% 11
Slide 12: Balance Sheet Will Support Future Growth
Balance Sheet Will Support Future Growth Balance Sheet Metrics as of 03/31/191 Available Unsecured Debt $398 million Net Debt to EBITDA 3.9x Leverage Ratio (Debt / Gross Asset Value) 23% Weighted Average Interest Rate 3.71% Distribution Rate on NAV 2.35% 2019F Dividend AFFO Payout Ratio 74% InvenTru
Slide 13: Improved Key Performance Metrics
Improved Key Performance Metrics Annualized Base Rent per SF 3-Mile Average Household Leverage Ratio1 Income $19 $100,000 45% $18.71 $98,000 40% $18 35% $95,000 35% $17 30% $16.44 $90,000 25% 23% $16 $88,000 20% $15 $85,000 15% 2016 Q1 2019 2016 Q1 2019 2016 Q1 2019 13
Slide 14: Experienced Board of Directors
Experienced Board of Directors Paula J. Saban (2004) Michael Stein (2016) Chairperson 40 years of public accounting 25+ years of banking & financial experience including prior CFO services experience, including positions with Nordstrom & Bank of America Marriott Thomas Glavin (2007) Scott Nelson (20
Slide 15: Strategy Moving Forward
Strategy Moving Forward o Focus and drive value as a grocery-anchored retail platform. o Concentrate portfolio in high job & population growth markets. o Maintain our flexible capital structure. o Opportunistically sell assets in low growth markets & where value has been maximized. o Evaluate variou
Slide 16: Appendix
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Slide 17: Footnotes
Footnotes Page 4 Page 9 1. Includes (a) wholly owned retail properties, (b) 100% of value related to IAGM 1. GLA includes ground lease square footage. Retail Fund I, LLC (“IAGM”), our joint venture with PGGM Private Real Estate 2. Occupancy is as of March 31, 2019, or as of the date of sale, and exc
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