CNL Healthcare Properties — Investor Presentation (March 2023)
18 slides from CNL Healthcare Properties's investor presentation, Mar 21, 2023
Slide 1: Estimated Net Asset Value Presentation March 2023
Estimated Net Asset Value Presentation March 2023 Exhibit 99.1
Slide 2: General Notices
General Notices This is not an offer to sell nor a solicitation of an offer to buy shares of the company. This piece 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-inclusive a
Slide 3: 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 4: 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. The company relies on its advisor and the advisor’s affiliates to conduct op
Slide 5: Estimated NAV per share subjective judgments and assumptions
Our estimated net asset value (NAV) per share is based upon subjective judgments, assumptions and opinions which may or may not turn out to be correct. You should not rely upon our estimated NAV as representative of the amount that might be paid to you for your shares in a market transaction, or in
Slide 6: Welcome, Business Update, Estimated Net Asset Valuation, Next Steps
Welcome Business Update Estimated Net Asset Valuation Next Steps
Slide 7: Portfolio by the Numbers
Portfolio by the Numbers Data as of Dec. 31, 2022, unless otherwise noted. 1 Based on total seniors housing managed portfolio revenue. 2 Since announcing strategic alternatives in 2018. Total Investment $1.74B Leverage Ratio 31.9% Average Effective Asset Age 13.7 years Number of States 26 Dispositio
Slide 8: Estimated Net Asset Value (NAV) Result
Estimated Net Asset Value (NAV) Result Dec. 31, 2022, Estimated NAV $6.92 p/share Represents a decline of $0.45 p/share, or 6.1% Aggregate appraised value of comparable real estate properties declined $83.5 million compared to 2021
Slide 9: Market and Economic Trends
Market and Economic Trends SOURCE: Bloomberg (for the macroeconomic activity data) 1 Monthly Indicators (CPI/PCE/Unemployment) calculated as an average over the twelve months in the year with 2022 PCE forecasted by the Bureau of Economic Analysis (BEA) 2 Real GDP – annual level data as reported by t
Slide 10: Historical Estimated Net Asset Value Recap
Offering closed to new investors Special distribution $10.00 $10.14 $9.13 $10.58 $9.52 $9.75 $10.32 $10.04 $10.01 $7.99 $7.81 $7.38 $9.00 Historical Estimated Net Asset Value Recap This valuation has been determined with the assistance of a third party, which is aligned to be in accordance with IPA
Slide 11: Estimated NAV Process
Estimated NAV Process 1 There is no assurance that IPA Guidelines are acceptable to FINRA or under ERISA for compliance with valuation or reporting requirements. Please see the Form 8-K for complete details. Consistent with IPA Guidelines1 & company valuation policy Included estimated transaction co
Slide 12: Methodology & Assumptions
Methodology & Assumptions Discounted cash flow analysis and/or a direct capitalization analysis (except for the land) Adjusted values for excess land, deferred maintenance or capital needs and lease-up costs Adjusted for company and JV interests, including priority distributions Appraised Assets Cas
Slide 13: Discount and Capitalization Rates
Discount and Capitalization Rates 1 The weighted average capitalization rate, discount rates and terminal capitalization rates are weighted on stabilized net operating income. The weighted average YoY change is based on the comparable set of properties from the prior year. Range Min Max Weighted Avg
Slide 14: 8-K Sensitivity
8-K Sensitivity 5% Decrease NAV midpoint by $0.53 per share 5% Increase NAV midpoint by $0.60 per share Impact of 5% or 5% on capitalization rates, discount rates and land price PSF
Slide 15: Valuation Range and Midpoint
Stanger varied the discount rate, terminal cap rates and direct capitalization rates, by 25 bps in either direction Valuation Range and Midpoint The estimated NAV is based upon assumptions and estimates believed to be accurate on Dec. 31, 2022. Data is subject to change. Please see the Form 8-K for
Slide 16: Estimated NAV Per Share Build-Up
Estimated NAV Per Share Build-Up 1 2022 fair market value of debt includes $17.9 million from the consolidation of previously unconsolidated subsidiaries. Total fair market value of debt declined $3.1 million year-over-year. 2 Reflects a hypothetical orderly sale of the company’s assets. 3 The estim
Slide 17: What's Next?
Continued focus to improve occupancy levels, maintain financial flexibility and balance sheet strength, as well as forward-looking liquidity As market forces permit, further engage in the pursuit of achieving ultimate shareholder liquidity Maximize property-level cash flows and operating performance
Slide 18: Investors and Financial Professionals 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
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