Firm Capital Property Trust · TSX:FCD.UN
Firm Capital Property Trust — Investor Presentation (February 2020)
24 slides from Firm Capital Property Trust's investor presentation, February 2020
Slide 1: Firm Capital Property Trust Investor Presentation
TSXV: FCD.UN Firm Capital Property Trust INVESTOR PRESENTATION - FEBRUARY 2020
Slide 2: Contents
Contents INTRODUCTION 3 BOARD OF TRUSTEES 21 HISTORY 4 MANAGEMENT TEAM 22 FIRM CAPITAL ADVANTAGE 5 CONTACT INFORMATION 23 INVESTMENT HIGHLIGHTS 6 DISCLAIMER 24 BENEFIT TO UNITHOLDERS 7 TARGETED ASSET CLASSES 8 PORTFOLIO OVERVIEW 9 PRO FORMA TENANT SUMMARY 10 DISCIPLINED EQUITY STRATEGY 11 TOTAL RETU
Slide 3: Introduction
Introduction Firm Capital with approximately $3.5 Billion of assets under management operates as a boutique real estate and financial services equity investment company deploying capital opportunistically between debt and equity in the real estate private and public markets across Canada and parts o
Slide 4: History
History Since inception in 1988, Firm Capital has established an exceptional track record demonstrated by past performance and prides itself on its risk management abilities to protect and preserve capital, while acting as a disciplined investor. PROFICIENT SERVICES PROVIDED BY FIRM CAPITAL: Mortgag
Slide 5: Firm Capital Advantage
Firm Capital Advantage Investing Integrity EXPERIENCE MATTERS Experienced team managing debt and real estate throughout a real estate cycle 30+ year track record with combined of over 100 years industry experience 01 DIRECT INVESTMENTS DISCIPLINED INVESTING Strong alignment interest Disciplined inve
Slide 6: Investment Highlights
Investment Highlights Enhanced Scale Through • The Trust’s portfolio is comprised of 74 commercial properties with 2,317,034 square feet Accretive Acquisitions of GLA and 204 residential units (at the Trust’s share) located across Canada • Acquiring diversified asset classes (Net Lease and Stand-Alo
Slide 7: Benefit to Unitholders
Benefit to Unitholders Benefits to Unitholders Investment Highlights • Liquidity • NAV Growth • Strong Balance Sheet • Distribution Increases • Strong Tenant Quality • Experienced Management Team • Compensation Based on Performance • Strong Alignment of Interests • Responsible Leverage • Track Recor
Slide 8: Targeted Asset Classes
Targeted Asset Classes FCPT targets and owns the following diversified asset classes: Core Service Provider Net Lease and Standalone Industrial & Flex Industrial Multi-Residential Professional & Healthcare Convenience Retail Office % of NOI 71% 23% 5% < 1% Firm Capital Property Trust Disciplined Inv
Slide 9: Portfolio Overview
Portfolio Overview Portfolio by Province Portfolio by Asset Class (by NOI) (by NOI) Apartment Office 1% 5% Nova Scotia 8% Other 9% Industrial 23% Quebec 23% Ontario 60% Retail 71% Portfolio is Diversified Across Geographies, Asset Classes and Tenants Firm Capital Property Trust Disciplined Investing
Slide 10: Pro Forma Tenant Summary
Pro Forma Tenant Summary Diversified Tenant Roster Largely Comprised of Necessity-Based Retailers Top Ten Commercial Tenants (by % of net rent) High Quality, National Tenants 12.1% 2.9% 2.6% 2.5% 2.4% 2.2% 2.1% 1.7% 1.7% 1.5% Largest Tenant Contributes 12.1% of Net Rent Firm Capital Property Trust D
Slide 11: Disciplined Equity Strategy
Disciplined Equity Strategy Equity Financings & Unit Price $8.00 (C$ millions, except unit price data) $6.75 $7.00 $45.6 $6.40 $6.40 $6.25 $6.25 $6.25 $6.00 $6.00 $5.60 $5.30 $5.35 $5.10 $5.00 $5.00 $23.3 $4.00 $20.0 $3.00 $11.0 $2.00 $9.1 $9.0 $8.7 $7.3 $7.1 $6.4 $1.00 $3.0 $3.2 $0.00 Nov-12 Aug-13
Slide 12: Total Return on Investment
Total Return on Investment Since Inception, a $100 Investment in FCPT Would be Worth $214.33 Today! (1) $214.33 $100.00 2013 2014 2015 2016 2017 2018 2019 (1) As of November 1, 2019 Firm Capital Property Trust Disciplined Investing ● Capital Preservation 12
Slide 13: Portfolio Growth
Portfolio Growth Fair Value of Investment Portfolio $436 (C$ millions) $6 $81 $213 $200 $6 $6 $6 $6 $164 $75 $331 $6 $63 $7 $127 $6 $59 $7 $86 $57 $7 $60 $26 $125 $125 $7 $92 $25 $27 $53 $57 $27 $28 2012 2013 2014 2015 2016 2017 2018 Sep-19 Retail Industrial Office Apartment Firm Capital Property Tr
Slide 14: Distribution Growth
Distribution Growth Distribution History (C$) ($0.50/unit ($0.48/unit ($0.46/unit per annum) ($0.42/unit ($0.44/unit per annum) per annum) ($0.40/unit per annum) per annum) ($0.37/unit ($0.35/unit per annum) +4.6% Annualized per annum) Increase per annum) 2012 2013 2014 2015 2016 2017 2018 2019 Firm
Slide 15: Net Asset Value Growth
Net Asset Value Growth Net Asset Value Per Unit (C$) 45% increase $7.10 $7.02 $6.85 $6.11 $5.88 $5.42 $5.25 $4.84 2012 2013 2014 2015 2016 2017 2018 Sep-19 Firm Capital Property Trust Disciplined Investing ● Capital Preservation 15
Slide 16: Cumulative Returns
Cumulative Returns 118% 110% 106% 104% 95% 94% 91% 90% 84% 84% 80% 79% 70% 68% 61% 58% 56% 51% 50% 41% 42% 35% 30% 28% 29% 18% 19% 8% 10% 10% 8% 3% 0% -4% -10% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2014 2015 2016 2017 2018 2019 Firm Capital Property
Slide 17: 2019 Q3 Financial Highlights
2019 Q3 Financial Highlights Quarter Ended Quarter Ended In $ millions, unless per unit or % amounts September 30, 2019 June 30, 2019 AFFO/Unit $0.117 $0.111 NAV / Unit $7.02 $7.00 Distributions/Unit $0.120 $0.120 Quarterly AFFO payout ratio 103% 108% Firm Capital Property Trust Disciplined Investin
Slide 18: Acquisition History
Acquisition History Portfolio Name Type Acq. Date GLA FCPT % Interest Acq. Purchase Price Sq. Ft. (@ Trust (@100%) Share) Bridgewater Retail Nov 29, 2012 46,707 100% $9,140,000 Brampton Retail Nov 29, 2012 36,137 100% $11,400,000 Hanover Retail Nov 29, 2012 19,874 100% $3,975,000 Pembroke Retail Nov
Slide 19: First Capital - Acquisition Portfolio
First Capital – Acquisition Portfolio $312 Million Retail Joint Venture Arrangement Transaction Overview Seven Retail Properties $156,200,000 (FCPT portion of the purchase price) Closed May and July 2019 The Trust has completed an acquisition of a 50%, non-managing interest in seven net-leased retai
Slide 20: Crombie REIT - Joint Venture Case Study
Crombie REIT - Joint Venture Case Study $83 Million Retail Joint Venture Arrangement Transaction Overview Seven Retail Properties $41,600,000 Closed 1st Quarter 2019 Firm Capital Property Trust completed a 50% joint venture with Crombie REIT in seven retail properties anchored by Sobeys owned grocer
Slide 21: Board of Trustees
Board of Trustees Stanley Goldfarb • CEO of Goldfarb Management Services Limited Chairman, Independent Trustee • Chairman & Director of Firm Capital Mortgage Investment Corporation (TSX: FC) Larry Shulman • Retired Senior Partner of Goldfarb, Shulman, Patel & Co. Independent Trustees Independent Tru
Slide 22: Management Team
Management Team • Managing Director - Firm Capital Realty Partners Inc. since October 2008 Robert McKee • Former Trustee of True North Apartment REIT (TSX:TN.UN) President & CEO • Formerly with TD Securities - Real Estate Investment Banking Group • Chief Operating Officer and Managing Director, Capi
Slide 23: Contact Information
Contact Information OUR CORE PRINCIPLES TRUST INNOVATION RELATIONSHIPS Our partners, investors and Firm Capital brings an Firm Capital builds strong, clients can trust FirmCapital to innovative approach to long term relationships with its execute on our commitment. structuring a transaction. partner
Slide 24: Disclaimer
Disclaimer This presentation is for informational purposes only and not intended to solicit Firm Capital Property Trust (“FCD”, “FCPT” or the “Trust”). This presentation may not provide full disclosure of all material facts relating to the securities offered. Investors should read the most recent An
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