Northview Residential REIT · TSX:NRR.UN
Northview Residential REIT — Shareholder Meeting (June 2024)
12 slides from Northview Residential REIT's shareholder meeting presentation, Jun 18, 2024
Slide 1: Annual General Meeting: Report to Unitholders
Annual General Meeting Report to Unitholders June 18, 2024
Slide 2: Disclaimer
Disclaimer Certain information contained in this presentation constitutes forward-looking information within the meaning of applicable securities laws. Statements that reflect Northview Residential REIT’s (“Northview” or the “REIT”) objectives, plans, goals, and strategies are subject to risks, unce
Slide 3: Northview Residential REIT
TSX: NRR.UN Northview Residential REIT Northview is one of Canada's largest publicly traded multi-residential REITs with over $2.7 billion in assets uniquely positioned in secondary markets across Canada Total Assets $1.9 $2.7 billion1 billion2 Multi-Residential Suites 11,1211 14,4082 Commercial Squ
Slide 4: 2023 Recapitalization Transaction
2023 Recapitalization Transaction Recent acquisitions and financial strategies have established a foundation for future growth opportunities Traditional REIT Structure • TSX-Listed • New ticker symbol: NRR.UN • Converted to an open-ended, perpetual vehicle • Sustainable payout ratio and distribution
Slide 5: 2023 Operating Results
2023 Operating Results Northview’s multi-residential portfolio has demonstrated solid NOI growth. 5.3% 120bps 3.7% Same-door Same-door Same-door Net Operating Average Monthly Occupancy(1,2) Income(1) Rent(1,2) Growth Growth Growth Columbus Terrace, St. John’s, NL Centennial Court, Fort McMurray, AB
Slide 6: 2023 Results
2023 Results The Recapitalization event, stabilized distribution payout and execution of Northview’s debt strategy has strengthened the balance sheet in an elevated interest environment. Distributions per FFO2,4 % of Fixed Rate Debt FFO per Basic Unit2,3 Debt to GBV1 88.3% 69.5% 77.0% $2.49 56.0% $1
Slide 7: Solid Multi-Residential Fundamentals
Solid Multi-Residential Fundamentals Housing supply shortage and high immigration are expected to continue to drive strong rental demands. Occupancy and rent growth with interest rate reductions are expected to drive strong financial results. CONTINUED HIGH POPULATION GROWTH HOUSING SUPPLY SHORTAGE
Slide 8: Q1 2024 Operating Results
Q1 2024 Operating Results Northview’s multi-residential portfolio has demonstrated solid NOI growth. 12.2% 170bps 4.7% Same-door Same-door Same-door Net Operating Average Monthly Occupancy(1,2) Income(1) Rent(1,2) Growth Growth Growth Cedar Manor, Lloydminster, AB 7 Murphy Avenue, Moncton, NB Parkvi
Slide 9: Q1 2024 Results
Q1 2024 Results Strong portfolio performance contributing to a sustained distribution environment. FFO per unit1,2 Distributions per FFO2,3 98.8% $0.36 $0.35 75.2% Q1 2023 Q1 2024 Q1 2023 Q1 2024 150 Darling Street, Brantford, ON The Courtyards, Grande Prairie, AB Lakeview Apartments, Labrador City,
Slide 10: Path Forward
Path Forward Balance sheet strengthening through the sale of non-core assets Targeting $100 to $150 million of non-core asset sales with net proceeds used to repay debt. Sheraton Apartments, Fort McMurray, AB Unitholder value creation Through a sustainable payout ratio, unitholders earn an attractiv
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Slide 12: Northview
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