Vital Infrastructure Property Trust · TSX:VITL.UN
Vital Infrastructure Property Trust — NorthWest Healthcare Properties REIT — Merger or Acquisition (June 2016)
18 slides from Vital Infrastructure Property Trust's merger presentation, Jun 27, 2016
Slide 1: Generation Healthcare Investment
GENERATION HEALTHCARE INVESTMENT June 27, 2016
Slide 2: Executive Summary
EXECUTIVE SUMMARY NORTHWEST $110M acquisition of strategic interest and management rights to ASX-listed Generation Healthcare REIT (“GHC”) ANNOUCES THE o Option to acquire 27.1M GHC shares at A$2.20/unit which would bring NorthWest’s interest in ACQUISITION OF A GHC to approximately 19.9% STRATEGI
Slide 3: Transaction Overview: Acquisition of Strategic Interest in GHC
TRANSACTION OVERVIEW: Acquisition of Strategic Interest in GHC 100% Stake 1 19.9% Stake1 2 3 Generation Healthcare Manager (“GHM”)2 Responsible APNFM Entity Management Services Real Estate Portfolio of 17 Management Healthcare Assets Fees 1 NorthWest acquires 100% of GHM and the management rights to
Slide 4: Portfolio Overview: Generation Healthcare REIT
PORTFOLIO OVERVIEW: Generation Healthcare REIT PORTFOLIO OVERVIEW Generation Healthcare REIT (ASX:GHC) is a leading Australian listed healthcare REIT with over A$400M in existing assets and a A$105M+ development pipeline Portfolio of 17 Properties of ~1.1M Square Feet Epworth Victoria Parade Hos
Slide 5: NorthWest Portfolio: Proforma for the Transaction
NORTHWEST PORTFOLIO: Proforma for the Transaction NOI BY REGION ASSET COMPOSITION Proforma Adjusted Proportionate NOI by Region (including Proforma entity will increase by ~3% in Hospitals to 42% management fees) increases by ~6% in Australasia.1 Hospitals and to 58% MOB’s/Clinic’s on a proporti
Slide 6: Investment Overview: Strategic Interest and Management Rights
INVESTMENT OVERVIEW: Strategic Interest and Management Rights KEY BENEFITS Summary of key terms: Provides GHC Investors with access to NWH GHC – STRATEGIC INTEREST ~19.9% of GHC Units REIT’s global healthcare real estate management and investment platform with global operations comprising of 137 p
Slide 7: Generation Healthcare REIT: Portfolio Overview
GENERATION HEALTHCARE REIT: Portfolio Overview Portfolio demonstrates the defensive nature of the health sector with long lease terms, high occupancy rate and steady income growth HY16 HY15 Net property income $14.6m $11.9m Occupancy (by income) 98.4% 98.6% Tenant retention (by expiring income) 100.
Slide 8: Generation Healthcare REIT: Development Pipeline
GENERATION HEALTHCARE REIT: Development Pipeline GHC has a strong development pipeline, providing shareholders with built-in accretive growth opportunities PIPELINE Project Overview Total Project Cost2 GHC Ownership Share Income Return1 Committed 60 bed expansions with 2 1 Frankston Private Expansio
Slide 9: Australia: Healthcare Sector Outlook
AUSTRALIA: Healthcare Sector Outlook Nearly 70% of All Australian Healthcare is Publicly Funded and Backed by Taxes and Income Tax Levies o Reduced Counter-Party Risk: Healthcare operators in Australia receive the majority of their income from a single, tax-payer backed entity (Medicare) Healthc
Slide 10: Healthcare Real Estate: A Highly Attractive Asset Class
HEALTHCARE REAL ESTATE: A Highly Attractive Asset Class STRONG PERFORMANCE A well-performing asset class On an absolute basis, cap rates in Australia have declined from 9.3% to 7.9% as of December 31, 2015, over the ten year period and continue to ~250bps trend lower towards the ~7% range. ~150bps
Slide 11: NorthWest History in Australia: Investment in Vital Trust
NORTHWEST HISTORY IN AUSTRALIA: Investment in Vital Trust INVESTMENT HIGHLIGHTS NorthWest acquired the Vital Manager and became a strategic shareholder of Vital Trust (NZX:VHP) in early 2012. Vital Trust has grown by ~70% in gross assets, from ~NZ$567M in assets to ~NZ$956M, with a strong future
Slide 12: Appendices
DICE | HEALTHCARE PROPERTIES
Slide 13: Generation Healthcare REIT: Portfolio Overview (1)
GENERATION HEALTHCARE REIT: Portfolio Overview (1) EPWORTH FREEMASONS EPWORTH FREEMASONS AUSTRALIAN RED CROSS PRIVATE HOSPITAL AND PRIVATE HOSPITAL HARVESTER CENTRE BLOOD SERVICE FACILITY MEDICAL CENTRE (CLARENDON STREET) (ARCBS) Location Melbourne, VIC Melbourne, VIC Melbourne, VIC Brisbane, QLD Bl
Slide 14: Generation Healthcare REIT: Portfolio Overview (2)
GENERATION HEALTHCARE REIT: Portfolio Overview (2) RSL CARE DARLINGTON RSL CARE BAYCREST RSL CARE TANTULA RISE PACIFIC PRIVATE CLINIC Location Banora Point, NSW Pialba, QLD Alexandra Headland, QLD Gold Coast, QLD Day surgery and medical office Description Residential aged care facility Residential a
Slide 15: Generation Healthcare REIT: Portfolio Overview (3)
GENERATION HEALTHCARE REIT: Portfolio Overview (3) LEADING HEALTHCARE WESTMEAD SPRING HILL CASEY SPECIALIST CENTRE BENDIGO REHABILITATION Location Bendigo, VIC Westmead, NSW Brisbane, QLD Berwick, VIC Day surgery and medical office Specialist centre with a focus on Description Primary Care Medical C
Slide 16: Generation Healthcare REIT: Portfolio Overview (4)
GENERATION HEALTHCARE REIT: Portfolio Overview (4) FRANKSTON PRIVATE WARATAH CASEY DEVELOPMENT FRANKSTON FRANKSTON PRIVATE EXPANSION PRIVATE HOSPITAL (STAGE 2 AND 3) SPECIALIST CENTRE DEVELOPMENT (DEBT INTEREST) Location Berwick, VIC Frankston, VIC Frankston, VIC Frankston, VIC Hurstville, NSW Day s
Slide 17: Generation Healthcare REIT: List of Assets
GENERATION HEALTHCARE REIT: List of Assets Last Book value Capitalisation Discount WALTE Lettable As at 31 December 2015 external Major tenants Occupancy ($m) rate1 rate (yrs) area valuation Epworth Freemasons Victoria Parade 64.1 30 Jun 2015 7.50% 8.25% Epworth Foundation 7.5 8,584 100.0% Epworth F
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