Electra Real Estate Ltd. · TASE:ELCRE
Electra Real Estate — Q3 2023 Earnings Presentation
45 slides from Electra Real Estate's earnings presentation, November 2023
Slide 1: Electra Real Estate Q3 2023 Capital Market Presentation
: XxX Ce Se Q3 Jinn plw7 navn a EMIF Ill, Waterford Trails, TX 2023 -73NA1)
Slide 2: ja nian E
ja nian E MATAR NN NPTAN! NANI ['77) MVP7N ,I7N DW) O'n'1 NINID! 7NW!7 WANA NAY "7" NE NI7"N ,7NW! NIM -J' TNA TN! [INVA [YN7 OW)IJ NX O'9INNA INV" (DD1VNT O'NYIWA "7917 NINDWN AND NN D'AINI) WN ANE DIV O'N'7 APN 197151 -NNIJ TNA ,D'PTtN IN
Slide 3: MW NN) PINT NITAD TY TADIY YT ANA YT 17719 IT Naya 'D |'y!
MW NN) PINT NITAD TY 99 TADIY YT ANA YT 17719 IT Naya 'D |'y! DN Wa ANA TAN N'A |'2- 7719 WAND YT'N .("NY NI") pin") 1968 - NWN 732 NIN ANN YT 7IENN' PO ,O'073 OWN WW TI XUNA YT'N 1977 ,DITAINI DV'7W1 INI NTE '€ ONIWAANT WR ,OVTNY OY IN/1 O'VINNT ON"NAA NT “MAD |DIND AN NW! X7 WN 711INA NIDWa 9 197
Slide 4: Electra platforms: House of Funds
— avn no nian pws ona an ‘vapn wt oon orn ana ("37 MAINE mowa7 wt moway ono onan HOUSE OF FUNDS €¢ 6€ &€ | € | & ELECTRA ELECTRA ELECTRA ELECTRA ELECTRA MULTIFAMILY DEBT SINGLE FAMILY | HOSPITALITY UKo D'NJ'Y IIIT NNN 4 nin onin = MT) 7 nt hwy | pny NTA alll 711") LP-) LP-3 GP-3 GP-3 Hao (i)
Slide 5: _ ayvna np nii7n pwr ona an ‘yapn wt yin DTN ama
_ ayvna np nii7n pwr ona an ‘yapn wt yin DTN ama STATE cota 1 mowa7 ODD o"ninn 17979 - 2A O37 10991 11NA NI7'Y) 1p'y NUNWNINT7 1D'WN N77 N77INWNI WINN 7Y OW NW nPINY NINN TY7 NNT ,7RW I YRW i DY pwn W'Y7 INA
Slide 6: oT) ayona np natn oro ona an ‘yapn Wt oun ovine ana
oT) ayona np natn oro ona an ‘yapn Wt oun ovine ana PIU TWIN E mown7 wt mawa7 o"py'D onan 4 MAN NAVIVORN ~ | 'DDJ1 NIY'pWN WAR NVA AYPWA NINWDV7DI NAP, 717! ANP NUVVAIWR |19'D NIANNIN NINIWNI OY" DIN ,O'Ntd'X DDI.” O'YAT O'7721WAI DUNN OI od T9IN TI N'7373 aN'nyY TR'NIVID '7YI DDI '09) ‘niynwn nnawn
Slide 7: PST TINE ey
PST TINE ey is NivwINA WwWaAN n3') Mnon AT AY7DI'NA DW 10-7 JTW NN 1272 MIWWINNAI BAIN 178 OYINI piwa i] a 7 [nin'd2 1D 'wnaA Mana ‘ANN ONT YAP Nia'yvn nian o"9 ona ain mowi7 WW [ITA wa AY N99 DDAN P7N WW 7y AVOWN Tw ‘PVA TINA APA NIWA qwoNn NIWA DONA MANA (n)'7] Da aT PUNT FY M"y! 1a vw nyowa Man 7
Slide 8: ava np neon oy ona ain ‘yapn wt ound O'yIN anja
7 ava np neon oy ona ain ‘yapn wt ound O'yIN anja ("IT TAANE mowa7 wt mown7 o"pu'D onan oDNDDNI ["7T) MVP7TR ang gh MBN 43 3(36)m 354m w2.3B mana 3'T o'TTaI N1nvy CAP-7 103 31n Dana nywnd Ww9A (2)'nyy 17110 pi nw Ovi (2) (nina) 13 (2)2023 Now7 DVIWAIA Signate a Principles for EPRI SDE ttco 17 34.88
Slide 9: ee? m0 np ni7n ovo o'nd
ee? m0 np ni7n ovo o'nd "ST MINE mown7 IN AYIAp 119 D'VAA 'DII1 InAN 97% @(CAP) nan R77 AWA I wa 3% ayiap an ann 114 50% mtmn 41% n77waAA WIN wy 5 2% @np1 D'DIAA II a 0 ain 'yapn wt ovina DUN ania wt mowin7 oD) onan 19'WN TY7 D'D1 'DII1 YINI VWN'N 110 yw NINN 131NI e alll 54.7% I'l Wy'w 'DIJd '1'DjJ
Slide 10: PIT TWAIN Ee
PIT TWAIN Ee aa np (SFR) 0019 O'nI 199WN7 WI Pe 3,827 msawi7 o"v79 oI 23 ni7'yo neonw 87% YYINN DION Wy (orox y7AN In“oW KONI, $1.1B Tyiwa [779 Ww $526M Twiwn |i $24.2M O'nd Wy in7iww NvITp'd. aw'd) o3500 nnn 2) © sr > & 8) @) 10 niin o"9 ona mown7 ain | ‘apn wt wt mowin7 ovina op) D'UIIN onan anja
Slide 11: oT) agonal np nai oro ona ain ‘apn Wt yin oie ana
oT) agonal np nai oro ona ain ‘apn Wt yin oie ana (ST TIRE mowa7 wt mowny oD! o'ninn WANN - WNW NY NTI 119W77 WAT pw N'niyawn nin 111n7 NIV7NA N71p1 NAN [NTI PW 7 APINY 1171 YON WR VT YT'N 4 WII T'n' 362 [°° T'n' 648 [7° nol Tn! 174 [5 ana Amp 0a qT) wn 1,140 [27° ana np ‘002 TITAN "7109 ONT [ID vn
Slide 12: 37) TINE
37) TINE 70a np niin. | mown7 wt mowin7 09 ona ain ‘yapn wt on np)" DVIIR anja onan oNwI7N VW 19D Np — DNATA NI7'yd 'ninn 7 1'0'11 |) nui7anv 4 1,340(7) oval (———»6850(5) m3 Ty $733M @ nit ow @ V7 Nw Tm 7) Mola jaw vy —— ‘nx'n D.C. 1a wil £26. (100%) eH $382M a YPUIN [IT 12 <n't3in Oy Vy) 02 1431) D
Slide 13: IT TIA IR Ee
IT TIA IR Ee © ow pun nriaenna © Co-Investors / Joint Ventures = wer oI TW 462 400 400 MULTIFAMILY FUND II iam non (une 18-July 19) 1097 ANID 100% 13 awa na nin | wt mowin7 ‘apn o"9 ona wt ain | mowiy ovina ono DUN onan ania oon weeny 7"INI 7NW! D'90I0 "DIA ninnonn 980 500 Ad | | MULTIFAMILY FUND II
Slide 14: Provident Fund for Bank Leumi Employees
PROVIDENT FUND FOR BANK LEUMI EMPLOYEES
Slide 15: DNA D'VPUN
DNA D'VPUN
Slide 16: m0 Np nigi7n. | O09 o'nI ain | ‘apn wt ona | piyrix anja
16 m0 Np nigi7n. | O09 o'nI ain | ‘apn wt ona | piyrix anja ST MINE moway 7 mowa7 ono TY7 ,D"'NIYVAWN D'979'1 D'9D) DIA 1D'wAN mMA1nn D'Y')WN7 NiYl1p Nipi7Ni OY! o'n1WTN :onJWn N7'nnn S , IYIDwWn7 Nipl7n yviN'a Wyo nto = ort pi'7'n 433-301 MANA AIIW DIN — yaigq ayia pen 22-9 :poInn zn 122-3 7w 4p'91
Slide 17: The BLVD, Irving, TX
17 IT TIA IR Ee awa na neon o"y79 ONT ain ‘yapn wt oun own ana mown7 wt moway ood onan NIT ,.N'NIWA NYI OI ,JDIT NYE ANIWNI win'n Value Add-i1 7TIN 74 N7XIN DIW"'7 Wn 'N1pn7 197 pI I) wWin'n The BLVD, Irving, TX $39,500,000 :1W'97 1'NN $43,000,000 :All-in $58,000,000 :17'9N 1':nN 05.4.2019 :1W'37 TI
Slide 18: a0 np nin | O09 o'nI ain | ‘apn wt ovina OVIIN anja
a0 np nin | O09 o'nI ain | ‘apn wt ovina OVIIN anja IT TIA IR Ee mowi7 wt mown7 o"Dy'D onan NINIWNI AWA INA pI [INN NiaNpoY wi7w j1y1D NeTING NEMA NNWwNaAN nia 18 Pinegate, Spartanburg, SC (Mezzanine Loan) |‘JtA NNUI7n $2,550,000 :INI7ii1 DID 27.12.2021 :|IN'N TYIN 15.11.2023 :|IV1'D TYIN 11.85% “TI
Slide 19: Slide 19
Slide 20: mwa np nrg | oo ona an | ‘apn Ww ovina | yn ania
mwa np nrg | oo ona an | ‘apn Ww ovina | yn ania IT TIA IR Ee mown7 wt mowin7 oo onan »2018-Q3 2023 NI7'‘YOA Vp N'apy an'ny NOI] ninnonn "DDI "HW NiNnoN ($ '7'N , 100%) (mw7n 1009 D'7IIN |" 77) 281 9.3 98 256 248 220 214 65 179 138 45 5 : i 2018 ©2019 «2020 «= 2021_:«=—- 2022 «= Q1-Q3 Qi-Q3 2018 201
Slide 21: IT TIA IR Ee
IT TIA IR Ee NI7NYI 7h" "NTN NipIjIn @ (W717 9V'7'NI AANA pn) GP-) nwW'91 NW) 717) ‘nT Noviw Nn AN 7IIAA NYA WANA o"9 ona ain mowi7 wt ‘apn wt mowin7 a0 np nin | oun | ania ovnn op. onan MN7Nad ‘AT Ninny Qi ae7na mana pm) DWAIN Dy AT NVI NNN O'N71WA OWANA ANZA NT (AUM) 7aNAA I 7W aw 711N7 717 WR NVI
Slide 22: IT TIA IR Ee
22 IT TIA IR Ee a0 np nian 20 8.2021 oro ona ain ‘yapn wt on oynn ana mown7 wt moway o"oI'9 onan rw seen) NINA "7Y17 WTI T Npi7n 40 40 40 ; ) 2.2022 8.2022 3.2023 8.2023 7719 101 O'WT'I'T MAN AP7'N OVW wWi7WA ninda n’w yt'7'n 172 -3 yw
Slide 23: LWT y1pnmsawi7 Wt
LWT y1pnmsawi7 Wt
Slide 24: AyONADD
AyONADD te ovina ovnn ana oD onan "Demand for multifamily rental housing will remain stable over the longer term due to home purchase affordability constraints and higher interest rates keeping many tenants from moving to homeownership”
Slide 25: IT TIA IR Ee mown7 wy
IT TIA IR Ee mown7 wy aon np nian o"9 ona ain ‘apn wt ovina ovnn ana mowin7 oD onan oNI7'Y9D [in Np DIVUD 100% 40% 2.29%K | 22.2% | 97% | $448M rigs re $2.38 | $400M | $462M 100% 30% 1.64X | 21.6% 25% $245M | 13,369 Al $2.5B $41M | $980M TaN a0 910 M90 2021 "71" 715% 11% - - 2% $13M 8,181 a $1.88 |
Slide 26: a0 np nin | o"y79 ONT ain | ‘apn
26 a0 np nin | o"y79 ONT ain | ‘apn PIU TWAIN E mowny wy wt mowin7 ovina ovnn oD onan anja WAI DIANNA D'PTN NPNA INI — WN NTN ONT WA 'Yapn DINWN JW 'NINI DI AN'N’ ‘niyawn '91INT 717 ov niwl ona N7Y3nN N'niaN o7it D2) 7y Tun oN yy mw'd17 Nn‘ ,WDIY N'7979 aAN'ny 7Y NI7'V9T UTI NNW mana /1'W1 11'N' 7N'
Slide 27: a0 np nin | O09 o'nI ain | ‘apn wi ovina | OVIIN anja
a0 np nin | O09 o'nI ain | ‘apn wi ovina | OVIIN anja ("IT IRE mow a mowiy oD oenian PNIYAWN "79791 DIN TIT OII9ON 1NA 7 NI7' YON Puy WT7 DPN O wip 771InnAA TW @NI7'Y9 N'TA7 WN NNN AYA A" I7IINA 719 17% NV'TN1 179790 NX ptnn 11n0 [DIN 11N7 7 (|ONI7'VON NV'TNI AVDIT7IINA ANAY [ANNA Wy 2781 NY'Tna AN'
Slide 28: mwa Np neon | O09 o'nI ain | "apn wt ovina | OVIIN anja
28 mwa Np neon | O09 o'nI ain | "apn wt ovina | OVIIN anja 371 TIRE aDwaT mowiy o"D'D o"nian ‘DWN V'DN7 TWANI .W1'T DW DI7WNN 52%-31 Ys! 'WTIna ANIIwWNA OI7wWN D'7TI1 D'9710 D'99'I NN'3W1 ON7 N'1 ¢y 60% NYYIND N'wWTin NN'3W7 Nyyinn NwW7IN AXnIDWNA O7wWN | On "There’s Never Been a Worse Time e to Buy
Slide 29: a0 np nin | O09 o'nI ain | ‘apn wi ovina | OVIIN anja
a0 np nin | O09 o'nI ain | ‘apn wi ovina | OVIIN anja P37 TINE moway Wt maw ovpu'D onan DIAN ,OYNNNA YN WwWYI IN NII OY U7 1W'977 ON 7 INI yy'n T’'IWI AN'NY71 NIWA DWNT Wp" 7171 NpPAYVA7 NNN A" Vl7I NA 777 ONT WON NII 7w "yn Wwy YN'T7 WIP'IA |'1 Wo N'1 ‘pw ANT, WOM 79WI XYNI 119N7 OY'nTA O'NIn yx ni
Slide 30: — m0 Np neon oo ona ain ‘yapn wi oun DVN ania
30 — m0 Np neon oo ona ain ‘yapn wi oun DVN ania ("37 MAINE moway wt mawa7 oD o'ninn DN! TY7 NIN PA OW T7INI VN! ANI NINyY71 WANT ON 11'T WwW NEY TWN JANI 23.2% 7Y TAWA N11 NYYINN 103977 NN'dw 'nT oN” "NI WT 'NI9N7 YYInNn TDW Forecast $2,000 $1,900 $1,800 $1,700 $1,600 $1,500 $1,400 $1,300 Rent per
Slide 31: P37 TINE mena pe
31 P37 TINE mena pe nin | o"9 ona ain ‘apn wt mowi7 wt ovina ovnn onan mowin7 op ania "TA UVP ANAL 'pJa "71Y9ONT NIN WANN 7174 WOND 'VINPNIL 7'VY" 7113 D'DII0 NW 7¥ NIN N7y NiyowA7 ‘niynawn tial and a 93.5%-> 98.5%-> 5%. NyYyiAN N'ndy nviIon @l"19VU9A '0II1 YIAN YD AD Uy wy 71901197 'DIJ1 17'T7 19WI
Slide 32: IT TIA IR Ee
32 IT TIA IR Ee 90M 80M 70M 60M 50M 40M a0 np nin | o"y79 ONT mown7 ain ‘apn wt ovina mowin7 oD ovnn onan anja pPIW 'NIN 731 Wy W"'Nn ,(Value Add) 'poOYA 7TINA 7H N7xIN OW" 211 3 11) @ 4 1p Vintage: June 2018 Vintage: Dec 2019 Vintage: May 2022 win'n non manawa noinl mw'd7 noina 110M 7 95M 80M L | o
Slide 33: Wits, £L ef OW ey) aes fs
Wits, £L ef OW ey) aes fs J ~ / ~* y / = / > / a7 WT {fi}, i A fl i if | \ i ) | | | j / | AY) ae oT a
Slide 34: he m9v01 np miagi7n o"w19 ona ain ‘yapn wt oun OVIIN anja
he m9v01 np miagi7n o"w19 ona ain ‘yapn wt oun OVIIN anja oT) NS oe : mowi7 wt mowia7 o"p'9. onan oM7'YD 1IN Nip DIVUD 11InNp 100% | 86% | 1.25X | 12.0% | 42% | $119M raat i $227™M | $18M | $285M man a0 moi 40 2021 "71" 211n | 48% 88% 1.1X 9.7% 8% $16M_ | 5,952 20 $194M | $9M | $393M [eeebeeees AWN
Slide 35: m0 Np nian | O09 nT an | ‘apn wt ovina | OVIIN anja
35 m0 Np nian | O09 nT an | ‘apn wt ovina | OVIIN anja "ST TINE moway wt mawa7 foros) onan "WIN NNW|A TY7 NN pPT OWI O NYAWN D991 NINW77 NWY1D DY'VVINW7N DNN7N7 'NIYNWN Wip'd W"7 DV 1DY ,D'pJan ’y [inna [in'71 ["77) '09)7 |IN'N7 'N4IN NX N'w77 O'D'waN ONIN DINU7A 7Y 71T TN'7'N 950-9 YIN ONION NANPA
Slide 36: Slide 36
Slide 37: Single Family Rental
Tahir MmunIR awa np DiNu7n ain ‘apn wt op. ovina oynn anja onan W9WN7 O'V19 O'n1 w Single Family Rental TU) "713 YYIAN NDION UW (01798 T'7AN In“OW nV|NWwa) Way In71Wwy NIT" @nw'd 300 nnn ona 0500 nnn o'900 on @aw'n {In @nyiwn muon inpia oui) o'na 137) 36-1 NU'TN a" DW TE smyna nin win? (0) .3009.202
Slide 38: — ava ND neon o"W9 ona ain ‘apn WI oun ovn'n ana
— ava ND neon o"W9 ona ain ‘apn WI oun ovn'n ana oT TINE nm | | | | ‘ mowi7 mowa7 oD onan - 'Apy |DINI NINY7 |'wWnn (SFR) 1719W77 "0797 D'NIn pw D'NIVAWN D'O7'TI OD" TDIN DDL Niypwa 7H NYE 7YID TYAN O'7TM D7 AYPWA '9P'TI AN |! NW" oONNN AN'nYA VT [P77 5.1-7 YA 33%-3I SFR-7 PW NAY NVNANNA OWA wI7WI O
Slide 39: AKA West Palm Beach, Miami
AKA West Palm BeaehigMiami
Slide 40: AKA hotel properties
$745M AKA Nomad AKA Alexandria AKA Brickell Alexandria, VA Miami, FL NYC, NY $733M $382M AKA West Palm AKA Washington Circle AKA Boston Back Bay 07 Washington, D.C. Boston, MA West Palm Beach, FL 1,340 AKA Boston Common Boston, MA
Slide 41: — a0 np norm | o"v79 ONT
— a0 np norm | o"v79 ONT Pov mR e mowa7 ain ‘yapn wt ovina ovnn wt mowi7 oD onan anja MUNA YI O"71Y9ONT D'VIN'11 AN'NY WIOY Ni1npn oyw1a 1W'97 NUN TY7 NNT ON) 2019-n NvI7AN WY Niwwiann7 yond wawn ADR-1 71791 UY7 NINU7AN YID'7 DDN 717 TN'7'N 1717 TAN'7'N 100 7VN 1) NT NII OY ATW NVI .2023-2024-1 NvI7
Slide 42: "777 NIYpPWA7 Nn NIA Np
Ti "777 NIYpPWA7 Nn NIA Np mJV' 141 Beet fsibeyt™ ; ve gies @ L rr |
Slide 43: oT) awa Na norm o"v79 ONT ain ‘apn wt vin oir ana
oT) awa Na norm o"v79 ONT ain ‘apn wt vin oir ana ITT Ee mown? 1 mowin7 DoD onan Seed 'D9J DIVUD 1901 Np non oon 2 ‘iit vn 6,850 woo aw3r von £26.5M SS nym yiow niy f12.9M Sz 16 Kirby, London 35 Newhall, Birmingham 2023 YIN — 7W'97 Win 2022 YIN — AW!) Win v'w'7 een 9 — AW ENN vw? (e'N 17.5 — WwW NN
Slide 44: a0 Np non | o"079 o'nI an | ‘apn wt ovina | OVIIN anja
a0 Np non | o"079 o'nI an | ‘apn wt ovina | OVIIN anja 371 TIWIR Ee way mowiy oD oenian PIWI NENIYAWN 1W'DD NUYATTA DOY"!'N 19'N1 N79791 OY D'NWwWaAT N77 VOX [ITI OTWwaAA wl Niwa NTI 71797 |7'IpNI1 o'Twaa Wyld vn ONAN N77 ATI AANA N17 N11 nianpn OWI 1y' DW Ne7YE MAN" 'DNX7 7IPNI AW! NUVATTA NAW" TIN
Slide 45: Slide 45