Crombie Real Estate Investment Trust · TSX:CRR.UN
Crombie Real Estate Investment Trust — Q1 2021 Earnings Presentation
19 slides from Crombie Real Estate Investment Trust's earnings presentation, May 6, 2021
Slide 1: Proven Stability and Sustainable Growth
Proven Stability and Sustainable Growth Q1 2021 Results Conference Call MAY 6, 2021
Slide 2: Forward-looking Information
Forward-looking Information This presentation contains forward-looking statements that reflect the current expectations of management of Crombie about Crombie's future results, performance, achievements, prospects and opportunities. Wherever possible, words such as "continue", "may", "will", "estima
Slide 3: Opening Remarks
Opening Remarks Don Clow President & CEO
Slide 4: Proven Stability and Sustainable Growth
Proven Stability and Sustainable Growth Focused Strategy Execution • Strengthened Financial Condition • Ample Liquidity • Increased weighted average term to maturity • Debt to Gross Fair Value of 48.3%1 • Innovative capital recycling • Improved Portfolio Quality • Strong Fundamentals • Committed occ
Slide 5: Aberdeen Business Centre, New Glasgow, Nova Scotia
Aberdeen Business Centre New Glasgow, Nova Scotia
Slide 6: Voilà Hub and Spoke Concept
Voilà Hub and Spoke Concept HUB GREENFIELD SPOKE FACILITY REPURPOSED SPACE 6
Slide 7: Le Duke, Montreal, Quebec
Le Duke Montreal, Quebec
Slide 8: Development & Operational Highlights
Development & Operational Highlights Glenn Hynes EVP & COO
Slide 9: Strong Fundamentals
Strong Fundamentals Solid Occupancy Drives Performance 432,000 SF 147,000 SF 387,000 SF New Leases Committed Renewals $23.03 PSF $19.05 PSF +3.0% growth Committed Occupancy Retail-related Office industrial 94.1% 100.0% committed occupancy Committed occupancy TOTAL 18.2m sf 96.3% committed occupancy
Slide 10: Zephyr, Davie Street, Vancouver
Zephyr, Davie Street, Vancouver New standard for urban, green and sustainable living Property Statistics Residential Units 330 Residential GLA 254,000 sf Commercial GLA 54,000 sf 100% commercial Crombie Ownership 50% residential Built to LEED Gold Equivalent Key Tenants 10
Slide 11: Voilà par IGA CFC, Montreal, Quebec
Voilà par IGA CFC Montreal, Quebec
Slide 12: Financial Highlights
Financial Highlights Clinton Keay CFO & Secretary
Slide 13: Well Positioned with Defensive Portfolio
Well Positioned with Defensive Portfolio % of Q1 2021 % of April 2021 Gross Rent Gross Rent Collected Collected Retail 98% 98% Office 99% 100% Retail-related 100% 100% industrial Total 98% 98% 13
Slide 14: Q1'21 Financial Highlights
Q1’21 Financial Highlights1 FFO per Unit AFFO per Unit $0.29 $0.25 $0.27 $0.27 $0.22 $0.23 $0.22 $0.18 Q2'20 Q3'20 Q4'20 Q1'21 Q2'20 Q3'20 Q4'20 Q1'21 SANOI Growth +3.8% excluding COVID-19 impacts 1.9% 2.2% -3.4% -4.6% 14 Q2'20 Q3'20 Q4'20 Q1'21 1. Non-GAAP financial measures used by management to e
Slide 15: Building Financial Strength
Building Financial Strength Interest coverage $1.4B $ 470M BBB (low) Fair value of Available 3.04x stable unencumbered liquidity assets Debt to EBITDA1,2 DBRS rating provides attractive unsecured debt 9.58x financing Debt to Fair Value Optimal Low-Cost Capital Structure 51.0% 50.3% 1.6% 21.8% Credit
Slide 16: Well-Laddered Debt Maturity Profile
Well-Laddered Debt Maturity Profile Extending Weighted Average Term to Maturity Increasing allocation to unsecured debt, allowing for additional future financing flexibility ~$225M of maturing debt in 2021 with weighted average interest rate of 4.0% $700 6.0% Millions $600 5.0% $500 4.0% $400 3.0% $
Slide 17: Closing Remarks
Closing Remarks Don Clow President & CEO
Slide 18: Davie Street, Vancouver, British Columbia
Davie Street Vancouver, British Columbia
Slide 19: Proven Stability and Sustainable Growth
Proven Stability and Sustainable Growth
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