Firm Capital Property Trust · TSX:FCD.UN
Firm Capital Property Trust — Shareholder Meeting (June 2023)
16 slides from Firm Capital Property Trust's shareholder meeting presentation, Jun 23, 2023
Slide 1: Annual and Special Meeting of Unitholders
TSX: FCD.UN FIRM CAPITAL PROPERTY TRUST ANNUAL AND SPECIAL MEETING OF UNITHOLDERS FRIDAY, JUNE 23, 2023 AT 11:00 A.M. EDT
Slide 2: Total Return on Investment
Total Return on Investment Since Inception, a $100 Investment in FCPT Would be Worth $292 Today! (1) (1) As of March 31, 2023 Disciplined Investing ● Capital Preservation 2
Slide 3: Disciplined Equity Strategy
Disciplined Equity Strategy Equity Financings & Unit Issue Price ($ millions, except unit price data) Gross Proceeds Raised Unit Price $7.40 $7.00 $7.10 $6.75 $6.90 $6.40 $6.40 $6.25 $6.25 $6.25 $6.40 $6.00 $45.6 $5.90 $5.60 $5.30 $5.35 $5.40 $5.00 $5.10 $28.8 $4.90 $23.3 $23.0 $20.0 $4.40 $3.90 $11
Slide 4: Distribution Growth
Distribution Growth Disciplined Investing ● Capital Preservation 4
Slide 5: Net Asset Value Growth
Net Asset Value Growth ($ per unit) Disciplined Investing ● Capital Preservation 5
Slide 6: Tax Deferral Opportunity
Tax Deferral Opportunity The Trust is highly tax efficient with a Return of Capital component. TAX YEAR 2022 2021 2020 RETURN OF CAPITAL 91% 48% 100% CAPITAL GAINS 9% 52% 0% 100% 100% 100% CAPITAL GAINS @ 50% TAX 4.4% 26% 0% RETURN OF CAPITAL 91% 48% 100% TOTAL TAX EFFICIENCY 96% 74% 100% Discipline
Slide 7: Q4 2022 Financial Highlights
Q4 2022 Financial Highlights ($ millions, except per unit or % amounts) Quarter Ended Quarter Ended Metric Dec. 31, 2022 Dec. 31, 2021 NOI $9.2 $7.9 AFFO/Unit $0.116 $0.114 NAV/Unit $7.64 $8.24 Distributions/Unit $0.130 $0.128 Quarterly AFFO payout ratio 112% 112% Leverage 51% 46% Portfolio Size $61
Slide 8: Q1 2023 Financial Highlights
Q1 2023 Financial Highlights ($ millions, except per unit or % amounts) Quarter Ended Quarter Ended Metric Mar. 31, 2023 Mar. 31, 2022 NOI $9.2 $8.3 AFFO/Unit $0.108 $0.119 NAV/Unit $7.65 $8.27 Distributions/Unit $0.130 $0.130 Quarterly AFFO payout ratio 121% 109% Leverage 52% 51% Portfolio Size $62
Slide 9: Investment Highlights
Investment Highlights • The Trust’s portfolio is comprised of 66 commercial properties with a total GLA of 4.3 million square feet Enhanced Scale Through Accretive (2.57 million square feet on an owned interest basis), interests in 5 apartment complexes comprised of Acquisitions 599 apartment units
Slide 10: Benefit to Unitholders
Benefit to Unitholders Liquidity • Moved to TSX in March 2022 and daily trading volume in excess of 21,000 units per day • Debt to GBV approximately 52% (51% Q4) Strong Balance Sheet • Approximately $19MM available on credit facility • Approximately15% of debt maturing in 2023 • Strong roster of cre
Slide 11: The Trust Owns the Following Asset Classes
Targeted Asset Classes) The Trust Owns the Following Asset Classes: Multi-Residential & Grocery / Service Retail Industrial Manufactured Home Communities % of NOI 59% 27% 14% Disciplined Investing ● Capital Preservation 11
Slide 12: Portfolio Overview
Portfolio Overview Portfolio by Province Portfolio by Asset Class (by NOI) (by NOI) Portfolio is Diversified Across Geographies, Asset Classes and Tenants Disciplined Investing ● Capital Preservation 12
Slide 13: Tenant Summary
Tenant Summary Largest Tenant Contributes 10.5% of Net Rent and Top 10 Tenants Comprise 30.3% of Net Rent Disciplined Investing ● Capital Preservation 13
Slide 14: Portfolio Growth
Portfolio Growth ($ Millions) $616 $621 $563 $458 $451 $212 $200 $164 $127 $92 $60 $27 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Retail Industrial Office Multi-Family MHCs Disciplined Investing ● Capital Preservation 14
Slide 15: 2023 Outlook
2023 Outlook • Moving forward, we will continue to monitor and assess the impacts of the economy that affect our portfolio performance. The current inflationary environment which has shown some signs of cooling is still expected to remain above the central bank’s target rate in 2023. While the Bank
Slide 16: For Additional Information, Please Contact
FOR ADDITIONAL INFORMATION, PLEASE CONTACT: Robert McKee Sandy Poklar Eli Dadouch Victoria Moayedi President & CEO Chief Financial Officer Vice Chairman, Co-CIO Director, Investor Relations & Private Client Capital T: 416.635.0221 X 250 T: 416.635.0221 X 235 T: 416.635.0221 X 231 T: 416.635.0221 X 2
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