Cto Realty Growth, Inc. · NYSE:CTO

Cto Realty Growth — Consolidated Tomoka Land — Investor Presentation (March 2012)

15 slides from Cto Realty Growth's investor presentation, Mar 14, 2012

  1. Slide 1: Investor Presentation

    INVESTOR PRESENTATION 1530 Cornerstone Boulevard | Daytona Beach, Florida 32117 | 386.274.2202 | info@ctlc.com 1

  2. Slide 2: Safe Harbor Statement

    Safe Harbor Statement Certain statements contained in this document (other than statements of historical fact) are forward‐looking statements. The words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “will,” “could,” “may,” “should,” “plan,” “potential,” “predict,” “forecast,” “project,” a

  3. Slide 3: Investment Highlights

    Investment Highlights  Over 11,000 acres in Daytona Beach, FL Deep Value in Land  Largely contiguous, straddling I‐95 Holdings  Held on Balance Sheet at a basis of less than $3,900 per acre  25 single‐tenant properties in the Southeastern U.S., leased primarily to CVS, Lowe’s and Walgreens Stabl

  4. Slide 4: Who is CTO?

    Who is CTO?  Established in 1902  Incorporated in 1910 Our  Public company in 1969 History  2000: Company begins using deferred tax exchanges to invest in income producing real estate  August 2011: John Albright hired as CEO  Daytona Beach Land – over 11,000 acres  Income Property Portfolio –

  5. Slide 5: CTO Snapshot

    CTO Snapshot COMPANY DESCRIPTION Consolidated‐Tomoka Land Co. is a Florida‐based publicly traded real estate company which owns over 11,000 acres in the Daytona Beach area and a portfolio of income properties in the Southeastern portion of the United States. Ticker NSYE Amex: CTO Shares 5.7 million

  6. Slide 6: Shareholder Overview

    Shareholder Overview % of Outstanding (1) Shareholder Shares Shares 1 Wintergreen Advisors LLC 1,543,075 26.47% 2 Third Avenue Management LLC 516,855 8.87% 3 Carlson Capital LP 332,500 5.70% 4 BlackRock Fund Advisors 287,363 4.93% 5 Dimensional Fund Advisors 152,805 2.62% 6 The Vanguard Group, Inc.

  7. Slide 7: CTO Land Holdings

    CTO Land Holdings OVERVIEW CTO owns over 11,000 acres in Daytona Beach, FL that straddles I‐95 and is just nine miles from the Atlantic Ocean. We have self developed on our land, sold parcels, gained entitlements and contributed portions to projects that have established key infrastructure in the We

  8. Slide 8: Daytona Beach, Florida

    Daytona Beach, Florida DAYTONA BEACH  68,128 residents(1)  MSA: 494,593(2)  Average temps: 79° summer / 59° winter  7 million visitors in 2009(3)  Major Traffic Generators  "World's Most Famous Beach“ – 23 miles of beach(1) – over 50 area hotels(4)  Daytona International Speedway(5) – 8 major

  9. Slide 9: Unique Value Proposition

    Unique Value Proposition LOW BOOK VALUE CTO’s book value of $113 million, or approximately $20 per share reflects a land basis of less than $3,900 per acre and is net of approximately $6 per share in deferred‐tax liabilities from 1031 exchanges. CTO’s common shares trade at 1.2x book value plus defe

  10. Slide 10: Income Properties

    Income Properties Occupancy  25 single‐tenant, net leased properties Physical Economic  Over 500,000 square feet 100% 100% 100% 100% 95% 93%  Primarily leased to CVS, Lowe’s and Walgreens 90% 94% 95% 95% 92% 91%  Located in Florida, Georgia and North Carolina 80%  NOI: Approx. $9 million 70% 

  11. Slide 11: Self-Developed Properties

    Self‐Developed Properties A B OFFICE FLEX / OFFICE Concierge Office Park Mason Commerce Center Phase I 22,000 square feet 30,720 square feet Built in 2009 75% occupied Built in 2009 94% occupied Anchor Tenant: Merrill Lynch Anchor Tenants: Walgreen Co., State of Florida Dept of Revenue B Phase 2 B A

  12. Slide 12: New Management & Significant Momentum

    New Management & Significant Momentum Since new management was hired in August 2011, CTO has moved to unlock value for shareholders and has positioned itself for success  September 2011 – announced an eight year subsurface lease on approximately 136,000 acres in Florida  December 2011 – engaged an

  13. Slide 13: Differentiated New Strategy

    Differentiated New Strategy INVESTMENT STRATEGY CTO’s investment strategy is to redeploy revenues into income properties under the 1031 exchange process while deferring income taxes. CTO is broadening its investment strategy to include ground leases and first mortgage investments in diversified geog

  14. Slide 14: Balance Sheet Strategy

    Balance Sheet Strategy Debt Maturity Schedule(1)  We have traditionally used very conservative leverage and plan to continue that $25.0 strategy  Helps us maintain flexibility in our investments and land $20.0 sales  Clean balance sheet: $15.3 $15.0  Unsecured borrowings  Conservative leverage

  15. Slide 15: Investment Highlights

    Investment Highlights  Over 11,000 acres in Daytona Beach, FL Deep Value in Land  Largely contiguous, straddling I‐95 Holdings  Held on Balance Sheet at a basis of less than $3,900 per acre  25 single‐tenant properties in the Southeastern U.S., leased primarily to CVS, Lowe’s and Walgreens Stabl

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