Us Masters Residential Property Fund · ASX:URF
Us Masters Residential Property Fund — H1 2023 Earnings Presentation
12 slides from Us Masters Residential Property Fund's earnings presentation, Sep 14, 2023
Slide 1: Disclaimer
Disclaimer This presentation is prepared by the US REIT, and is authorised for release by E&P Investments Limited (ACN 152 367 649 | AFSL 410 433) (Responsible Entity) as the Responsible Entity for the US Masters Residential Property Fund (ARSN 150 256 161) (Fund). For personal use only This present
Slide 2: 2023 Half Year Update
For personal use only 2023 Half Year Update 14 September 2023
Slide 3: Summary of 2023 Half Year Results
Summary of 2023 Half Year Results • Total comprehensive income of $8.2 million. • Rental revenue growth of 7.7% on new leases, and 7.4% on renewals. For personal use only • Fair value uplift of US$6.9 million for the full year, comprised of US$8.9 million movement in the NY Premium portfolio, US$536
Slide 4: Funds from Operations (FFO)
Funds from Operations (FFO) Excluding disposal costs and non-recurring items, the FFO loss for 2022 was A$1.0 million; a 47% improvement over the HY1 2022 result. A$ 2018 2019 2020 2021 2022 HY1 2023 For personal use only Revenue from Ordinary Operations 38.1 49.7 45.4 39.7 44.1 23.1 One-Off Income
Slide 5: General and Administrative expenses ($A)
General and Administrative expenses ($A) For personal use only Source: US REIT, as at 30 June 2023. Note AUD/USD average rate of 0.6947 and 0.6759 for 2022 and HY1 2023 respectively. Figures may not sum due to rounding. 5
Slide 6: Asset Valuation – Family Portfolio: December 2022 to 30 June 2023
Asset Valuation 1 – 4 Family Portfolio: 31 December 2022 to 30 June 2023 ($USD) For personal use only Multifamily Portfolio • The Fund’s three large-scale multifamily apartment buildings held with Urban American were all placed on the market for sale during the period. The Fund’s economic interest i
Slide 7: Capital Management: Buyback Process
Capital Management Buyback Process: January to June 2023 For personal use only Ordinary Shares: Ordinary Shares: Month End Number Consideration ($A) Jan-23 3,542,088 $960,733 Feb-23 3,958,700 $1,104,980 Mar-23 8,462,676 $2,664,516 Apr-23 5,188,199 $1,572,908 May-23 5,575,882 $1,616,514 Jun-23 3,494,
Slide 8: Capital Management: Debt Levels and Cash Balance
Capital Management As a result of property sales, total debt balance reduced by approx. US$12.3 million for the half year. For personal use only Debt Levels Cash Balance Source: US REIT, as at 30 June 2023. Excludes multi-family level debt for investments with Urban American. AUD/USD 30 June 2023 sp
Slide 9: Joint Venture Update
Joint Venture Update • URF team have been successfully onboarded. For personal use only • G&A expenses have reduced year-on-year. • Rental revenue has increased during the half year. • Trailing 12-month Net Operating Income (NOI), on a same-home basis, increased by 1.13% compared to the full-year 20
Slide 10: Asset Sales Program
Asset Sales Program • The Fund closed on the sale of 13 assets for a total value of US$21.8 million in HY1 2023. For personal use only • As of 30 June 2023, the Fund had US$8.5 million under contract or with an accepted offer, as well as US$51.1 million either on the market or in the listing pipelin
Slide 11: For personal use only
US Masters ® Ajuo 5sn reUIO a7)
Slide 12: For further information
For further information For personal use only Investor Relations URFInvestorRelations@usmrpf.com 12
US Masters Residential Property Fund — H1 2023 Earnings Presentation on 6ix