Sila Realty Trust, Inc. · NYSE:SILA
Sila Realty Trust — Q3 2025 Earnings Presentation
26 slides from Sila Realty Trust's earnings presentation, Nov 5, 2025
Slide 1: Q3 2025 Quarterly Supplemental Information
veSila realty trust Q3 | 2025 QUARTERLY SUPPLEMENTAL INFORMATION SKILLFUL AND THOUGHTFUL INVESTING
Slide 2: Disclosures
Disclosures Q3 | 2025 Forward Looking Statements Certain statements contained herein, other than historical fact, may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as ame
Slide 3: Table of Contents
Q3 | 2025 Table of Contents Supplemental Information as of September 30, 2025 3 Quarterly Financial Summary 4 Financial Statistics and Ratios 5 Condensed Consolidated Balance Sheets 6 Condensed Consolidated Statements of Income 7 Reconciliations of Non-GAAP Measures - FFO, Core FFO, and AFFO 8 Recon
Slide 4: Quarterly Financial Summary
Quarterly Financial Summary Q3 | 2025 (dollars in thousands, except share data and per share amounts) The following tables summarize the Company's quarterly financial results and portfolio metrics. Three Months Ended Financial Results September 30, June 30, March 31, December 31, September 30, 2025
Slide 5: Financial Statistics and Ratios
Financial Statistics and Ratios Q3 | 2025 (dollars in thousands, except per share amounts) Three Months Ended Interest Coverage Ratio September 30, June 30, March 31, December 31, September 30, 2025 2025 2025 2024 2024 Interest expense $ 8,470 $ 7,829 $ 7,325 $ 5,265 $ 5,468 EBITDAre 39,475 37,870 3
Slide 6: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets Q3 | 2025 (dollars in thousands, except share data) (Unaudited) September December 31, 30, 2025 2024 ASSETS Real estate: Land $ 171,848 $ 160,743 Buildings and improvements, less accumulated depreciation of $316,441 and $277,024, respectively 1,628,052 1,546,877
Slide 7: Condensed Consolidated Statements of Income
Condensed Consolidated Statements of Income Q3 | 2025 (dollars in thousands, except share data and per share amounts) (unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Revenue: Rental revenue $ 49,421 $ 46,118 $ 146,221 $ 140,311 Real estate related not
Slide 8: Reconciliations of Non-GAAP Measures - FFO, Core FFO, and AFFO
Reconciliations of Non-GAAP Measures - FFO, Core FFO and AFFO Q3 | 2025 (dollars in thousands, except per share amounts) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Net income attributable to common stockholders 1,2 $ 11,609 $ 11,935 $ 28,105 $ 31,543 Adjustm
Slide 9: Reconciliations of Non-GAAP Measures - EBITDA and EBITDAre
Reconciliations of Non-GAAP Measures - EBITDA and EBITDAre Q3 | 2025 (dollars in thousands) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Net income attributable to common stockholders $ 11,609 $ 11,935 $ 28,105 $ 31,543 Adjustments: Interest expense1 8,470 5,4
Slide 10: Reconciliations of Non-GAAP Measures - Net Operating Income (NOI)
Reconciliations of Non-GAAP Measures - Net Operating Income (NOI) Q3 | 2025 (dollars in thousands) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Rental revenue 1,2 $ 49,421 $ 46,118 $ 146,221 $ 140,311 Rental expenses (5,920) (5,823) (18,237) (17,226) Net opera
Slide 11: Same Store Cash NOI and Leasing Trends
Same Store Cash NOI and Leasing Trends Q3 | 2025 50M 99.3% 99.3% 99.3% 99.2% 99.0% 100% Same Store Cash Net Operating Income 40M 90% End of Period Leased Rate 30M 80% 70% 20M $40.1 $40.5 $40.6 $40.6 $40.6 60% 10M 50% 0M 40% 3Q24 4Q24 1Q25 2Q25 3Q25 131 Properties1 (1) Each period's results reflect o
Slide 12: Debt
Debt Q3 | 2025 (dollars in millions) Unsecured Credit Facility Key Covenants Required Actual Ratio of total indebtedness to total gross asset value ≤ 60.0% 27.7 % Ratio of secured indebtedness to total gross asset value ≤ 30.0% 0.0 % Ratio of adjusted EBITDA to fixed charges ≥ 1.50x 5.48 x Ratio of
Slide 13: Acquisitions and Dispositions
Acquisitions and Dispositions Q3 | 2025 2025 Acquisitions Rentable Square Acquisition Price1 Date Acquired Property Feet Market State (in thousands) 03/04/2025 Knoxville Healthcare Facility 70,005 Knoxville TN $ 35,320 04/16/2025 Dover Healthcare Facility2 42,140 Dover DE 26,818 08/01/2025 Southlake
Slide 14: Property Map
Property Map Q3 | 2025 (as of September 30, 2025) Property Diversification Single/Multi-Tenant Concentration 35.7% 64.3% 8.6% 10.0% Annualized Annualized Properties3 Properties3 Base Rent2 33.9% Base Rent2 18.6% 30.4% 17.1% 91.4% 90.0% Medical Outpatient Building Single Tenant Inpatient Rehabilitati
Slide 15: Real Estate Diversification
Real Estate Diversification Q3 | 2025 Total Statistics As of September 30, 2025 2024 Rentable square feet 5,322,724 5,270,971 Number of properties1 140 136 Average annualized base rent per leased square foot $33.53 $32.90 Weighted average remaining lease term 9.7 years 8.3 years Leased rate 2 99.1 %
Slide 16: Real Estate Diversification: Lease Expirations and Tenants
Real Estate Diversification Q3 | 2025 Lease Expirations1 2.5M $70M Annualized Base Rent $60M 2.0M $50M Square Feet 1.5M $40M $30M 1.0M $20M 0.5M $10M $0M 0.0M 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Thereafter Tenant Diversification2,3,4 Tenant Credit Concentrations2,5 PAM Health 15.1% 39.
Slide 17: Real Estate Diversification: EBITDARM Coverage
Real Estate Diversification Q3 | 2025 EBITDARM Coverage Ratio1 % of ABR2 EBITDARM Coverage Medical Outpatient Building 15.6% 12.18x Inpatient Rehabilitation Facility 32.7% 4.04x Surgical and Specialty Facilities3 27.5% 5.33x Reporting Properties 75.8% 6.19x Non-Reporting Properties 24.2% Total Portf
Slide 18: Portfolio
Portfolio Q3 | 2025 (as of September 30, 2025) Rentable Date % Market Property Name State Square Feet Acquired Leased Property Subtype Akron Akron Healthcare Facility OH 98,705 10/4/2019 100.0 % Medical Outpatient Building Akron Akron Healthcare Facility II OH 38,564 10/4/2019 100.0 % Medical Outpat
Slide 19: Portfolio (Continued)
Portfolio (Continued) Q3 | 2025 (as of September 30, 2025) Rentable Date % Market Property Name State Square Feet Acquired Leased Property Subtype Des Moines Indianola Healthcare Facility II IA 20,990 9/26/2018 100.0 % Medical Outpatient Building Destin Crestview Healthcare Facility FL 5,685 10/4/20
Slide 20: Portfolio (Continued)
Portfolio (Continued) Q3 | 2025 (as of September 30, 2025) Rentable Date % Market Property Name State Square Feet Acquired Leased Property Subtype Little Rock Bryant Healthcare Facility II AR 16,425 8/16/2019 100.0 % Medical Outpatient Building Los Angeles El Segundo Healthcare Facility CA 12,163 10
Slide 21: Portfolio (Continued)
Portfolio (Continued) Q3 | 2025 (as of September 30, 2025) Rentable Date % Market Property Name State Square Feet Acquired Leased Property Subtype San Antonio New Braunfels Healthcare Facility TX 27,971 10/4/2019 100.0 % Specialty Facility San Antonio San Antonio Healthcare Facility TX 44,746 6/29/2
Slide 22: Glossary
Glossary Q3 | 2025 Contractual Annualized Base Rent The sum of each tenant’s contractual base rent in the last month of the period multiplied by twelve months, unless otherwise specified. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and Earnings Before Interest, Taxes, Dep
Slide 23: Glossary
Glossary Q3 | 2025 Funds From Operations (FFO), Core Funds From Operations, and Adjusted Funds From Operations (AFFO) FFO, a non-GAAP financial measure, is calculated consistent with Nareit’s definition, as net income (calculated in accordance with GAAP), excluding gains and losses from sales of rea
Slide 24: Glossary
Glossary Q3 | 2025 Liquidity A financial metric that represents the outstanding cash and cash equivalents combined with the remaining borrowing base availability on the Company’s credit facility at a point in time. Market Capitalization The total number of outstanding shares of the Company's common
Slide 25: Glossary
Glossary Q3 | 2025 Net Operating Income (NOI), Cash NOI and Same Store Cash NOI (Continued) The following is a reconciliation from net income attributable to common stockholders, which is the most directly comparable GAAP financial measure, to NOI, Cash NOI and Same Store Cash NOI, for the following
Slide 26: Glossary
Glossary Q3 | 2025 Same Store Properties Operating properties that were owned and operated for the entirety of all calendar periods being compared, excluding properties under development, re- development, or classified as held for sale. To evaluate properties on a comparable basis, management analyz