360 Capital Mortgage REIT · ASX:TCF
360 Capital Mortgage REIT — Investor Presentation (March 2025)
37 slides from 360 Capital Mortgage REIT's investor presentation, Mar 26, 2025
Slide 1: 360 Capital Mortgage REIT 1 for 3 Entitlement Offer Presentation
For personal use only 360 Capital Mortgage REIT (ASX:TCF) 1 for 3 Entitlement Offer Presentation 26 March 2025 NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES P.1
Slide 2: Important Notices and Disclaimer
Disclaimer IMPORTAND NOTICES AND DISCLAIMER This presentation is dated 26 March 2025 and relates to a 1 for 3 non-underwritten, non-renounceable pro rata offer by 360 Capital Mortgage REIT to Eligible Unitholders of new Units in the Trust to raise up to approximately $11.1m (Entitlement Offer). This
Slide 3: Important Notices and Disclaimer Continued
Disclaimer IMPORTANT NOTICES AND DISCLAIMER CONTINUED FORWARD LOOKING STATEMENTS This presentation may contain forward-looking statements, guidance, forecasts, estimates , prospects, projections or statements in relation to future matters (‘Forward Statements’). Forward Statements can generally be i
Slide 4: Important Notices and Disclaimer Continued
Disclaimer IMPORTAND NOTICES AND DISCLAIMER CONTINUED DISCLAIMER To the extent permitted by law, no member of the 360 Capital Group accepts any liability (including, without limitation, any liability arising from fault or negligence on the part of any of them) for any loss whatsoever arising from th
Slide 5: Table of contents
Table of contents For personal use only 1 Offer Summary 6 2 360 Capital Mortgage REIT (ASX:TCF) 12 3 Track record 17 4 Capital raising 20 Appendix A Key risks 24 Appendix B Liquidity Mechanism 28 Appendix C Responsible entity’s historic transaction examples 30 Appendix D Glossary 35 P.5
Slide 6: 1. Offer summary
REAL ASSETS PRIVATE EQUITY PUBLIC EQUITY CREDIT For personal use only 1. Offer summary
Slide 7: Why we're different
Why we’re different Real Estate Experts • We assess loans as property professionals, focusing on asset quality and execution, not just valuations. For personal use only • Deep experience in managing through real estate cycles, asset management, and turnarounds to structure risk- adjusted loans. Tran
Slide 8: TCF Entitlement and Shortfall Offer
TCF Entitlement and Shortfall Offer Regular monthly income from private credit investments secured against Australian real estate Key Offer Details: How to participate in the Entitlement Offer For personal use only • An Offer Booklet containing further details of the Entitlement Offer Non-renounceab
Slide 9: TCF Entitlement and Shortfall Offer – Key Benefits
TCF Entitlement and Shortfall Offer – Key Benefits Increased Scale, Relevance and Liquidity For personal use only 33% increase in proforma market capitalisation to $44.5 million1 96.8% Senior Loan Investments Focus on senior loan investments with 96.8% of the loan portfolio currently registered firs
Slide 10: Proforma Portfolio Overview
Proforma Portfolio Overview Regular monthly income from private credit investments secured against Australian real estate By Sector: For personal use only 69.7% 96.8% Portfolio LVR1,2 Senior loans1,2 Commercial, Residential, 10.7% 89.3% 11.7% $11.1m W. Avg. Interest Rate1,2 Increased exposure to fir
Slide 11: Indicative timetable
Indicative timetable Announcement of Entitlement Offer Wednesday, 26 March 2025 For personal use only Shortfall Offer Bookbuilding Opening Date Wednesday, 26 March 2025 Units trade on an ex-Entitlement Offer basis Tuesday, 1 April 2025 Record Date for eligibility in the Entitlement Offer (7.00pm, Sy
Slide 12: 2. 360 Capital Mortgage REIT
REAL ASSETS PRIVATE EQUITY PUBLIC EQUITY CREDIT For personal use only 2. 360 Capital Mortgage REIT (ASX:TCF)
Slide 13: Market dynamics and Trust strategy
Market dynamics and Trust strategy • Investment Objective: achieve a Target Return of the RBA cash rate plus a margin of 4.00% p.a. (net of fees and expenses) and provide monthly cash income and capital preservation by For personal use only investing in a diversified portfolio of real estate mortgag
Slide 14: A focus on income and capital preservation
A focus on income and capital preservation Ranking in the Real Estate Capital Stack Senior Lenders Get Paid First For personal use only As a Senior Lender, you’re first in line for repayment before property owners (equity investors) and mezzanine lenders Ranking Matters Focus on Senior Loan Investme
Slide 15: Loan portfolio summary – pre-Offer
Loan portfolio summary – pre-Offer For personal use only Senior investment Junior investment Senior investment Senior investment Senior investment Snapshot: Residual land lots & Snapshot: Waterfront luxury Snapshot: Brand new service Snapshot: Completed four and five- Snapshot: Completed three and C
Slide 16: New Loan 1: residual land lots
New Loan 1: residual land lots Property Type Residual land lots Market Value For personal use only (ex GST): $11.5m 14 individually titled residential land lots located in a newly established sub-division in Box Hill, NSW a Avg. price $821K suburb located in the north-west growth corridor, (Ex-GST)
Slide 17: 3. Track record
REAL ASSETS PRIVATE EQUITY CREDIT For personal use only 3. Track record
Slide 18: 360 Capital Group private credit track record
360 Capital Group (ASX:TGP) private credit track record Established & Successful Track Record in Real Estate Credit For personal use only Cumulative Private Credit AUM 18 years >$400m $450.0m Founded in 2006, 360 Capital has $400.0m been successful in investing through Private credit transactions $4
Slide 19: Value proposition – regular income with capital protection
Value proposition – regular income with capital protection 62.0 cpu For personal use only 58.0 cpu 360 Capital has increased distributions by 118% since taking over in September 2020 1 Consistent Income Distributions have increased year on year since 360 54.0 cpu Capital took over management of TCF
Slide 20: 4. Capital raising
For personal use only 4. Capital raising
Slide 21: 360 Capital Mortgage REIT - Peer Comparison
360 Capital Mortgage REIT (ASX:TCF) - Peer Comparison One of two ASX-Listed Mortgage REITS, balance of peers are diversified across sectors some with overseas exposure Distribution Yield1,2 Premium/(Discount) to NAV2 For personal use only 6.00% 5.10% 10.50% 10.10% 10.00% 4.00% 9.69% 9.50% 2.00% 0.51
Slide 22: Balance Sheet – Proforma December 2024
Balance Sheet – Proforma 31 December 2024 Sources and Applications Up to Proforma Proforma 31-Dec-24 Adjustments 31-Dec-24 Balance sheet For personal use only Source of Funds ($’000) ($’000) ($’000) Entitlement Offer 1,873,739 Units @ $5.94 $11,130,010 Cash and cash equivalents 170 170 Total Placeme
Slide 23: Contact details
Contact details Tony Pitt For personal use only Executive Chairman +61 2 8405 8860 [email protected] James Storey Chief Executive Officer +61 2 8405 8860 [email protected] Glenn Butterworth Chief Financial Officer +61 2 8405 8860 [email protected] Identifying
Slide 24: Appendix A. Key risks
REAL ASSETS PRIVATE EQUITY CREDIT For personal use only Appendix A. Key risks Illustrative photo only
Slide 25: Key risks
Key risks • Market risk: Market risk is the risk that investment returns from the Trust may be affected by negative movements in general market conditions and may decline over short or extended periods due to market sentiment, economic, technological, legal, social and/or political factors. Factors
Slide 26: Key risks
Key risks • Borrower risk: If the borrower is a company, and that company becomes insolvent or undergoes external administration, then the loan will go into default. If the loan goes into default, the payment of any interest distributions will cease, and the recoverability of the payments will depen
Slide 27: Key risks (cont'd)
Key risks (cont’d) • Default and credit risk: A borrower or a borrower’s guarantor(s) may not be able to meet their financial obligations. This may be for a wide range of reasons, including: (a) a change in the financial or other circumstances of the borrower; or (b) a change in the economic climate
Slide 28: Appendix B. Liquidity mechanism
REAL ASSETS PRIVATE EQUITY CREDIT For personal use only Appendix B. Liquidity mechanism Illustrative photo only
Slide 29: Off-market liquidity mechanism
Off-market liquidity mechanism Off-market buy-back to enhance investor liquidity Off-Market Buyback For personal use only • Semi-Annual Opportunities: Ability to participate in off-market buy-backs every with a pricing date of June and December. • Pricing: Units repurchased at Net Asset Value (NAV)
Slide 30: Appendix C. Responsible Entity's historic transaction examples
REAL ASSETS PRIVATE EQUITY CREDIT For personal use only Appendix C. Responsible Entity’s historic transaction examples Illustrative photo only
Slide 31: Appendix C: Responsible Entity's track record
Appendix C: Responsible Entity’s track record For personal use only Senior investment Junior investment Senior investment Senior investment Senior investment Residual land lots North West Absolute waterfront development 35 completed four and five Newly completed petrol station 21 completed four and
Slide 32: Appendix C: Responsible Entity's track record
Appendix C: Responsible Entity’s track record For personal use only Senior land Junior investment Senior investment Senior investment Senior investment Residential development land in Residential development land in Development of 2,396 sqm (GLA) 300 place childcare centre in 30 completed apartments
Slide 33: Appendix C: Responsible Entity's track record
Appendix C: Responsible Entity’s track record For personal use only Senior construction Senior construction Senior investment Senior investment Senior investment Bridging facility for portfolio of Medium density complex Medium density complex Development of 162 room 4-star Development of 27 townhous
Slide 34: Appendix C: Responsible Entity's track record
Appendix C: Responsible Entity’s track record For personal use only Senior construction Senior investment Senior investment Junior investment Senior construction Medium density complex Development of 28 room Development of 94 apartments in Construction of 30 residential Construction of pre-leased ho
Slide 35: Appendix D. Glossary
REAL ASSETS PRIVATE EQUITY CREDIT For personal use only Appendix D. Glossary Illustrative photo only
Slide 36: Glossary
Glossary Term Definition (unless otherwise defined in this presentation) 360 Capital Group means TGP and each of its subsidiaries For personal use only 360 Capital Mortgage REIT means 360 Capital Mortgage REIT (ARSN 115 632 990) means ASX Limited (ACN 008 624 691) or the financial products market op
Slide 37: Glossary
Glossary Term Definition Entitlement Offer means the capital raising in TCF of an amount of up to $11.1m as described in this presentation For personal use only Offer Price means the price of $5.94 per New Unit offered under the Entitlement Offer Oversubscription Facility means the Oversubscription
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