Presidio Property Trust, Inc. · NASDAQ:SQFT
Presidio Property Trust — Investor Presentation (September 2022)
22 slides from Presidio Property Trust's investor presentation, Sep 30, 2022
Slide 1: Investor Presentation
INVESTOR PRESENTATION © 2022 Presidio Property Trust, Inc. All rights reserved.
Slide 2: Important Notices and Disclaimers
IMPORTANT NOTICES AND DISCLAIMERS This press release contains statements that are "forward‐looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
Slide 3: Presidio Property Overview
PRESIDIO PROPERTY OVERVIEW DESCRIPTION ▪ Presidio Property Trust, Inc. (“Presidio” or the “Company”) was founded in 1999 as NetREIT ▪ Presidio is an internally‐managed real estate company focused on commercial real estate opportunities in often‐overlooked and regionally dominant markets ▪ The Compan
Slide 4: Presidio Property Overview (Cont'd)
PRESIDIO PROPERTY OVERVIEW (CONT’D) Corporate Information Headquarters San Diego, CA Founded 1999 Key Geographies CA, CO, MD, ND, & TX Employees 19 Portfolio Summary (Number / Square Footage) Office 8 properties / 605,763 sq. ft. Retail 3 properties / 65,242 sq. ft. Industrial 1 property / 150,030 s
Slide 5: Company Strategy
COMPANY STRATEGY ▪ Presidio acquires high‐quality commercial properties in often overlooked and/or underserved markets ▪ Our target markets are regionally dominant, non‐core cities with attractive growth dynamics driven by key economic factors ▪ Focus on $10 – $30 million property acquisitions that
Slide 6: High Quality Commercial Portfolio
HIGH QUALITY COMMERCIAL PORTFOLIO Fargo, ND Our commercial real estate portfolio as of September 30, 2022, consisted of the following properties: Approximate Approximate Percent Percent Percent Percent Property Square Feet Property Square Feet Occupied Ownership Occupied Ownership (‘000’s) (‘000’s)
Slide 7: Portfolio Makeup and Performance
PORTFOLIO MAKEUP AND PERFORMANCE COMMERCIAL SQUARE FOOTAGE BY REGION AS OF SEPTEMBER 30, 2022 Maryland, 4% Texas, 1% California, 4% Colorado, 47% North Dakota, 44% Source: Company filings as of November 10, 2022, data as of September 30, 2022 7
Slide 8: Portfolio Makeup and Performance (Cont'd)
PORTFOLIO MAKEUP AND PERFORMANCE (CONT’D) Segments as a % of Net Portfolio Assets 80% 60% 40% 20% 0% Office/Industrial Retail Model Home 9/30/2022 12/31/2021 2022 Segment Revenue and NOI 80.0% 60.0% 40.0% 20.0% 0.0% Office/Industrial Retail Model Home % of Gross Revenue % of Total NOI Source: Compan
Slide 9: Growth Strategy & Pipeline
GROWTH STRATEGY & PIPELINE ▪ We seek to invest in properties in regionally dominant markets that have attractive growth dynamics driven in part by economic factors such as strong office‐using employment growth, net in‐migration of a highly educated workforce, large student populations, the stability
Slide 10: Ability to Add Value
ABILITY TO ADD VALUE Dakota Center, Fargo, North Dakota DAKOTA CENTER OVERVIEW Background ▪ 78% of the property was leased to a major national bank under a lease expiring in December 2012 – just 18 months following acquisition The bank occupied only a small portion and subleased other portions to
Slide 11: Ability to Add Value
ABILITY TO ADD VALUE The Presidio, Colorado Springs, Colorado THE PRESIDIO OVERVIEW Background ▪ Able to take advantage of the seller’s unique circumstance to purchase the property at an excellent in‐place return, with additional value achievable through increasing occupancy and raising rents to mar
Slide 12: Ability to Add Value
ABILITY TO ADD VALUE Sparky’s Self‐Storage, Inland Empire, California SPARKY’S SELF‐STORAGE OVERVIEW Background ▪ Presidio acquired 7 individual self‐storage properties throughout the Inland Empire region of Southern California between 2007 and 2013. These properties were either distressed and sold
Slide 13: Model Home Business
MODEL HOME BUSINESS ▪ Triple‐net sale/leaseback transactions with homebuilders, to use as sales offices and model homes ▪ Operates independently in Houston, Texas, with minimal time commitment by senior management ▪ Homes are sold to homebuyers following subdivision close‐out PRESIDIO INCENTIVES BUS
Slide 14: Model Home Markets
MODEL HOME MARKETS Heatmap of Model Home Properties by Location Density – Dallas‐Fort Worth Area ▪ The model home portfolio is concentrated with 78 homes in Dallas‐Fort Worth and its surrounding suburb areas. ▪ Presidio also owns 1 home in other cities in Texas, 1 home in suburban Chicago, IL, and 2
Slide 15: Core Funds From Operations
CORE FUNDS FROM OPERATIONS For the Three Months Ended 9/30/2022 9/30/2021 Net (loss) income attributable to Presidio Property Trust, Inc. common stockholders $ (1,302,039) $ (1,390,887) Adjustments: Income attributable to noncontrolling interests 1,114,928 427,303 Depreciation and amortization 1,318
Slide 16: Staggering of Our Debt Maturities
STAGGERING OF OUR DEBT MATURITIES As of September 30, 2022, weighted average interest rate on outstanding commercial debt is 4.53% and the weighted average remaining term is 4.2 years(1) Debt Maturity Schedule 35.0 31.1 30.0 28.9 25.0 20.3 20.0 $ Millions 16.7 16.7 15.5 15.5 15.0 10.5 10.0 8.7 5.0 2
Slide 17: Investment in Murphy Canyon Acquisition Corp
INVESTMENT IN MURPHY CANYON ACQUISITION CORP ▪ On January 7, 2022, we announced our sponsorship, through our wholly‐owned subsidiary, Murphy Canyon Acquisition Sponsor, LLC (the “Sponsor”), of a special purpose acquisition company (“SPAC”) initial public offering. The SPAC , Murphy Canyon Acquisitio
Slide 18: Board of Directors (Excluding Management)
BOARD OF DIRECTORS (EXCLUDING MANAGEMENT) Jennifer Barnes, Independent Director James Durfey, Independent Director ▪ Served as Director since 2020 and is a member of the ▪ Served as a director as of December 2019 and is a member Audit Committee of the Compensation Committee and the Nominating and ▪
Slide 19: Management Team
MANAGEMENT TEAM Key team members have 75+ combined years of real estate and public company experience Jack Heilbron, Chairman, Chief Executive Officer and President Gary Katz, Chief Investment Officer ▪ Founding officer, director, and stockholder of the former CI Holding ▪ Held positions with Legacy
Slide 20: Company Highlights
COMPANY HIGHLIGHTS High Quality Portfolio with Strong Fundamentals Poised to Grow Across In‐Demand Experience and Space Depth of Management Differentiated Acquisition Strategy Source: Company filings as of November 10, 2022, data as of September 30, 2022 20
Slide 21: Investment Highlights
INVESTMENT HIGHLIGHTS HIGH QUALITY PORTFOLIO WITH STRONG EXPERIENCE AND DEPTH OF MANAGEMENT FUNDAMENTALS ▪ 12 commercial properties with 821,104 square feet with an ▪ Chairman and CEO Jack Heilbron’s public REIT experience average occupancy rate of 85.3% ▪ Company formed in 1999; SEC reporting since
Slide 22: Financial Definitions: Non-GAAP Measures
FINANCIAL DEFINITIONS: NON‐GAAP MEASURES ▪ EBITDAre - EBITDAre is defined by NAREIT as earnings before interest, taxes, depreciation, and amortization, gain or loss on disposal of depreciated assets, and impairment write-offs. ▪ Funds from Operations (“FFO”) – The Company evaluates performance based
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