SLIDE 1
Who is Plaza?
2020 Who is Plaza ? Profile Existing Portfolio Under Development - - PowerPoint PPT Presentation
2020 Who is Plaza ? Profile Existing Portfolio Under Development - - PowerPoint PPT Presentation
INVESTOR PRESENTATION 2020 Who is Plaza ? Profile Existing Portfolio Under Development Pipeline 17 projects 10 projects 274 properties ~ 8.4M sq. ft. ~ 650,000 sq. ft. (1) ~ 400,000 sq. ft. (1) (1) at 100%. Certain projects under
SLIDE 2
SLIDE 3
Profile
Existing Portfolio Under Development Pipeline 274 properties ~ 8.4M sq. ft. 17 projects ~ 650,000 sq. ft.(1) 10 projects ~ 400,000 sq. ft.(1)
(1) at 100%. Certain projects under development are included in the existing portfolio
SLIDE 4
What makes PLAZA unique?
1
2 3 4
Plaza focuses on per unit growth and NAV creation through accretive developments, redevelopments and proactive management of its existing portfolio. Plaza is fully internalized and able to develop/redevelop properties using in-house resources, such as a development and leasing team consisting of 25 skilled professionals with a combined 300 years of experience. Plaza does not buy properties from 3rd party developers or from related parties at low cap rates. Insiders hold a significant ownership position in Plaza. Plaza relies on its entrepreneurial abilities to adapt to changing market conditions. Plaza locks in consistent long-term returns by financing with long term debt, generally matched to lease maturities.
5
SLIDE 5
2020
INVESMENT HIGHLIGHTS
SLIDE 6
Investment Highlights
- One of Canada’s leading property owners,
developers and managers of retail real estate.
- Total assets, at Plaza’s consolidated interest, valued of
- ver $1.1 billion. Assets under management of +/- 1.65
Billion (all at 100%).
- Proven track record of accretive growth and value
creation over 20-year history.
- Development strategy and focus on per-unit NAV
and FFO growth. We have a strong history of delivering value.
- Outstanding performance by targeting greenfield
and brownfield opportunities often overlooked by
- competitors. As a result, we create access to
communities which are highly appealing to national retailers.
SLIDE 7
Investment Highlights
- Unique positioning as a developer and value
creation REIT.
- Leveraging competitive advantage in Eastern
Canada.
- Focus on value, convenience and specialty retail.
- Stable, high occupancy with National tenants
comprising ~91% of revenue.
- Superior returns through property development.
SLIDE 8
Investment Highlights
Hypothetical Development $000s
Cost of Development $50,000 $50,000 $50,000 Unlevered Yield 7.00% 8.00% 9.00% Cap Rate upon completion 6.00% 6.50% 7.00% Cost of Development $50,000 $50,000 $50,000 Long term debt @ 65% LTV ($37,917) ($40,000) ($41,786) Equity Investment $12,083 $10,000 $8,214 NOI upon completion $3,500 $4,000 $4,500 Debt Service @ 3.75% interest, 30-yr amort ($2,100) ($2,215) ($2314) Cash Flow $1,400 $1,785 $2,186 Levered Return 11.6% 17.8% 26.6% Value $58,333 $61,538 $64,286 NAV Created ($8,333) ($11,538) ($14,286) NAV Created - % of Cost 17% 23% 29%
SLIDE 9
Long-Term Mortgage Maturity Profile
16.0% 7.2% 9.7% 6.2% 8.7% 52.2% 4.62% 4.77% 4.08% 4.98% 4.34% 3.99% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 50,000,000 100,000,000 150,000,000 200,000,000 250,000,000 2020 2021 2022 2023 2024 2025 and thereafter $ Maturing (left axis) Weighted avg rate (right axis)
SLIDE 10
NOI by Region
2019
60%
Atlantic Canada
18%
Québec
20%
Ontario
2%
West
SLIDE 11
2020
PORTFOLIO COMPOSITION
SLIDE 12
PLAZA’s Portfolio Composition
National 90.7%
as at Dec. 31, 2019Strip
66.9%
Single Tenant QSR
6.9%
Single Tenant Retail
19.1 %
Enclosed
7.1%
Base Rent
National 90.7%
Local 3.7% Regional 3.9% Non-Retail 1.7%
SLIDE 13
PLAZA’s Portfolio Composition
Revenue by Retail Category
as at December 31, 2019
Pharmacy & Medical Services,
30%
Restaurants & Entertainment,
18%
Dollar Store & Treasure Hunt
11%
Grocery/Liquor/ Gas, 9%
Specialty Retail, 13% Fashion, 6% Financial & other services, 6% Pet Stores, 3% Other, 4%
SLIDE 14
25.1% 5.5% 5.1% 3.9% 3.5% 3.3% 3.0% 1.8% 1.6% 1.5%
Top 10 Retail Tenants
% of Base Rent Revenue(5)
(1) Shoppers Drug Mart/Loblaw represents the following stores: Shoppers Drug Mart, No Frills, and Maxi. (2) The majority is represented by 3 operators. (3) Canadian Tire Group represents the following stores: Canadian Tire, Mark’s/L’Équipeur, Party City and Sport Chek. (4) Sobeys Group represents the following stores: Sobeys, IGA, Sobeys Fast Fuel and Lawtons. (5) Excludes developments, redevelopments and non-consolidated investments. (1) (2) (3) (4) SLIDE 15
PLAZA Geography
National 90.5%
3 Properties – 51,256 SF
West
68 Properties – 1,690,869 SF 95 Properties – 2,146,617 SF 108 Properties – 4,495,022 SF Ontario
Québec
Atlantic TOTAL 274 Properties – 8,383,764 SF
areas noted at 100%
SLIDE 16
2020
REDEVELOPMENT PROJECTS
SLIDE 17
Chain Lake Drive Plaza Halifax, NS
BEFORE REVELOPMENT
SLIDE 18
Granite Drive Plaza New Minas, NS
BEFORE REDEVELOPMENT
SLIDE 19
Quispamsis Town Centre Quispamsis (Saint John), NB
National 90.5% BEFORE FACADE REMODEL
SLIDE 20
602 ave. Laure Sept-Îles, QC
Rendering BEFORE FUTURE SQDC
SLIDE 21
- boul. Talbot
Chicoutimi, QC
Rendering BEFORE REDEVELOPMENT
SLIDE 22
Plaza J.P. Perrault Sherbrooke, QC
Rendering BEFORE REDEVELOPMENT
SLIDE 23
Gates of Glen Shopping Centre Brampton, ON
Rendering BEFORE
SLIDE 24
Gates of Glen Shopping Centre Brampton, ON
REDEVELOPMENT IN PROGRESS
SLIDE 25
Timiskaming Plaza New Liskeard, ON
Rendering BEFORE
REDEVELOPMENT IN PROGRESS
SLIDE 26
3351 Lawrence Ave. East Scarborough, ON
Rendering BEFORE REDEVELOPMENT
SLIDE 27
1000 Islands Plaza Brockville, ON
Rendering BEFORE REDEVELOPMENT
SLIDE 28
2020
NEW CONSTRUCTION PROJECTS
SLIDE 29
The Shoppes at Galway St.John’s, NL
PRINCESS AUTO SCHOOL OF ROCK MICHAELS
SLIDE 30
The Shoppes at Galway St.John’s, NL
SLIDE 31
Silver Fox Plaza New Minas, NS
Rendering
PETSMART IN PROGRESS
SLIDE 32
Carson & Mapleton Moncton, NB
Rendering MILESTONES
SLIDE 33
Plaza des Laurentides St-Jérôme, QC
SLIDE 34
Plaza des Laurentides St-Jérôme, QC
SLIDE 35
Century Avenue Missisauga, ON
MOVATI ATHLETIC