CNL Healthcare Properties — Investor Presentation (March 2025)
21 slides from CNL Healthcare Properties's investor presentation, Mar 13, 2025
Slide 1: Estimated Net Asset Value Presentation March 2025
Estimated Net Asset Value Presentation March 2025 CHP-0325-4294728-INV © 2025 CNL Healthcare Corp. All Rights Reserved. CNL® and the Squares Within Squares design trademarks are used under license from CNL Intellectual Properties, LLC.
Slide 2: General Notices
General Notices ï,§ This is not an offer to sell nor a solicitation of an offer to buy shares of the company. This presentation is for general information purposes only and does not constitute legal, tax, investment or other professional advice on any subject matter. Information provided is not all-
Slide 3: General Notices
General Notices ï,§ Although the company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, the company’s actual results could differ materially from those set forth in the forward-looking statements due to a variety of risks, uncertain
Slide 4: Risk Factors
Risk Factors Investing in a non-traded real estate investment trust (REIT) is a higher-risk, longer term investment and is not suitable for all investors. Due to the risks involved in the ownership of real estate, there is no guarantee of any return on investment. The shares may lose value or invest
Slide 5: Risk Factors
Risk Factors There are significant risks associated with the senior housing and healthcare sectors including market risk impacting demand, litigation risk and the cost of being responsive to changing government regulations. Events, including macroeconomic trends such as inflation, which adversely af
Slide 6: Valuation Disclosures
Valuation Disclosures Net asset value (NAV) means the fair value of real estate, real estate-related investments and all other assets less the fair value of total liabilities. Our estimated NAV per share is based upon subjective judgments, assumptions and opinions, which may or may not turn out to b
Slide 7: Welcome, Business Update, Estimated Net Asset Valuation, Next Steps
Welcome Business Update Estimated Net Asset Valuation Next Steps 7
Slide 8: Business Update—2024 Highlights
Business Update—2024 Highlights RIDEA Performance & NOI (54 properties) 13 consecutive quarters of revenue growth 10 consecutive quarters of NOI growth NNN Occupancy (15 properties) Continued strong occupancy and lease coverage Streamlined Portfolio 100% wholly owned: acquired the remaining 5% joint
Slide 9: Business Update: Seniors Housing Portfolio Composition
Business Update Seniors Housing Portfolio Composition By Units 91.9% private-pay1 Assisted Living, 47.8% Memory Care, 13.5% Independent Living, 36.9% Skilled Nursing, 1.8% Total Investment $1.74B 30.1% Leverage 30.1% Debt-to-Asset Average Effective 15.7 years Community Age Ratio Number of States 26
Slide 10: Estimated Net Asset Value (NAV) Result
Estimated Net Asset Value (NAV) Result Dec. 31, 2024, Estimated NAV ï,§ Represents an increase of $0.36 per $6.64 per share share or 5.73% Aggregate net appraised value of (midpoint of the range) comparable real estate properties Range: $6.33—$6.98 increased $51.7 million (3.1%) compared to 2023 per
Slide 11: Historical Estimated Net Asset Value Recap
Historical Estimated Net Asset Value Recap Offering closed to new investors Special distribution $2.00/share Pandemic onset $11.00 $10.58 $10.14 $10.32 $10.00 $10.04 $10.00 $9.52 $9.75 $10.01 $9.00 $9.13 $9.00 $7.99 $7.81 $8.00 $7.38 $7.37 $6.92 $7.00 $6.28 $6.64 $6.00 $5.00—11—11—12 12—12 — 12—13 1
Slide 12: Estimated NAV Process
Estimated NAV Process Consistent with IPA guidelines1 Included estimated & company valuation policy transaction costs Independent valuation firm: Robert A Stanger & Co., Inc. Individual property appraisals Outside of IPA guidelines but consistent with approach taken Income approach with discounted c
Slide 13: Methodology & Assumptions
Methodology & Assumptions Appraised Assets Discounted cash flow analysis and/or a direct capitalization analysis (except for the land) Adjusted values for excess land, nondiscretionary capital needs and lease up costs Cash, Other Tangible Debt Assets & Liabilities Fair market value estimated using F
Slide 14: Discount and Capitalization Rates
Discount and Capitalization Rates Range Min Max Weighted Weighted Avg. Avg.1 YoY Change RIDEA Direct capitalization rate Not Utilized Discount rate 8.75% 11.25% 9.55% 0.75% Terminal capitalization rate 7.00% 9.00% 7.79% 0.19% Direct capitalization rate 7.00% 7.00% 7.00% 0.17% Discount rate 10.75% 12
Slide 15: Valuation Range and Midpoint
Valuation Range and Midpoint Stanger varied the discount rate, terminal cap rates and direct capitalization rates, by 25 bps in either direction Impact of low end of range on NAV: $0.34 The The estimated NAV is based upon assumptions and estimates believed to be accurate as of Dec. 31, 2024. Data is
Slide 16: Sensitivity
8 K Sensitivity Impact of 5% 5% Decrease NAV midpoint or 5% on by $0.52 per share capitalization rates, discount rates and land price PSF 5% Increase NAV midpoint by $0.48 per share 16
Slide 17: Estimated NAV Per Share Build Up
Estimated NAV Per Share Build Up Table of Value Estimates for Components of Net Asset Value (as of Dec. 31, 2024) Value ($ in 000’s) (Per share) Same store real estate assets (net) $1,725,552 $9.92 + Cash, cash equivalents & other assets1 60,537 0.35 – Fair market value of debt2 (569,847) (3.28) – A
Slide 18: Financial Health
Financial Health $90.0M Liquidity $44.0M $46.0M Undrawn Cash Credit Facility Data as of Dec. 31, 2024. There is no assurance these objectives will be met. Forward looking statements are based on current expectations and may be identified by words such as “believes,” “expects,” “may,” “could” and ter
Slide 19: Seniors Housing & the Aging of America
Seniors Housing & the Aging of America 20,000,000 19,000,000 18,000,000 17,000,000 16,000,000 15,000,000 Trends 14,000,000 1 13,000,000 12,000,000 11,000,000 Population 10,000,000 Demographic(80+ 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2024 80+ Population 15,083,30
Slide 20: What's Next
What’s Next Continue our focus on operational excellence and executing key asset management initiatives to maximize property level cash flows and operating performance Maintain financial flexibility and balance sheet strength, and ample liquidity Pursue ultimate shareholder liquidity as opportunitie
Slide 21: Contact
Contact Investors Please consult your financial professional or visit cnlhealthcareproperties.com Financial Professionals Please contact our managing dealer, CNL Securities, member FINRA/SIPC at 866 650 0650 or visit cnlsecurities.com 21
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