UBC PROPERTIES TRUST UBCPT MISSION STATEMENT Our mission a t UBC - - PowerPoint PPT Presentation

UBC PROPERTIES TRUST

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OVERVIEW

Our mission a t UBC Pr oper ties Tr ust is t o a ssist UBC, t hr ough opt imization of la nd a sset s, t o a chieve t he a cademic a nd communit y g oa ls of it s Pla ce a nd Pr omise ma nda te.

W E S B R O O K P L A C E I R V I N G K B A R B E R L E A R N I N G C E N T R E

UBCPT MISSION STATEMENT

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OVERVIEW

UBC UBC Properties Investments Ltd.

Village Gate Homes (division) UBC Properties Trust Wesbrook Properties (division)

Beneficiaries

(the UBC Foundation is also a beneficiary)

Sole Shareholder Trustee (holds legal title to assets) Board of Directors Property Management (Faculty & Staff Rental) Operating Entity Property Management (Market Rental)

Dist r ibut ions fr om Land Leases

ORGANIZATION CHART – PRIVATE TRUST

Dist r ibut ions fr om Rent al Pr oper t ies

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OVERVIEW

• None of the land would be sold but rather it would be leased for periods not to exceed 99 years.
• The University will not provide financial assistance or loan covenants for subdivision work. The only security

provided by UBC would be leases of land designated for residential development.

• UBC ’s charitable status would not be adversely impacted.
• Overhead would be funded through management and cash flow from rental properties.
• Any work associated with design and construction would be contracted out to third parties.
• All net revenue from land lease activity would be endowed to UBC.

INITIAL PRINCIPLES FOR LAND DEVELOPMENT (1988)

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OVERVIEW

R E NTAL H OUSI NG COMME R CIAL D E VE LOPME NT SE R VI CING AND L AND L E ASING

UBC PROPERTIES TRUST ACTIVITIES

I NST I TUTIONAL

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OVERVIEW

ACTIVITY TO DATE

Neighbourhood Status GBA Total GBA Available Hampton Place Complete 1.2 Million nil Hawthorn Place Complete 0.9 nil Chancellor Place Complete 0.8 nil East Campus Complete 0.3 nil Wesbrook Place 50% 6.1 3.0 University Boulevard 25% 0.6 0.4 Stadium 0% 1.0 1.0 Acadia 0% 3.2 3.2 Total 14.1 Million 7.6 Million

• 1. Institutional Development Management

Completed or underway - 8.0 million square feet - $2.6 billion

• 2. Land Servicing and Development
• 3. Build and Manage Rental Housing, Retail & Common Space

Complete or underway - 1.6 million rentable square feet

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INSTITUTIONAL

RECENTLY COMPLETED

C E N T R E F O R B R A I N H E A L T H T H E R O B E R T H . L E E A L U M N I C E N T R E

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INSTITUTIONAL

P O N D E R O S A

RECENTLY COMPLETED

P H A R M A C E U T I C A L S C I E N C E S B U I L D I N G “ T H E N E S T ” S T U D E N T U N I O N B U I L D I N G

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INSTITUTIONAL

Construction Brock Commons (Tall Wood) Budget $51.5 Ponderosa Commons Phase II 77.8 Transit Exchange Terminal 21.8 Sports Medicine Centre Phase I 10.0 Aquatic Centre 39.9 Totem Park Residence In-Fill Phase II 30.2 Gage South Student Residence 77.0 Orchard Commons 127.5 Quantum Matter Institute 30.3 Whitecaps Field House & Fields 25.7 Acadia Hi-rise Renovation 12.3 TOTAL $504.0

PROJECTS UNDER CONSTRUCTION & DESIGN ($ millions)

O R C H A R D C O M M O N S

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INSTITUTIONAL

PROJECTS UNDER CONSTRUCTION

A Q U A T I C C E N T R E B R O C K C O M M O N S ( T A L L W O O D S ) T R A N S I T T E R M I N A L & G A G E H O U S I N G

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INSTITUTIONAL

Square Feet Budget Final Variance Cost/s.f. STUDENT HOUSING CONCRETE 2.5 $656.3 $635.9 $20.4 $257 WOOD FRAME 0.4 89.3 82.4 6.9 187 TOTAL 2.9 $745.6 $718.3 $27.3 $247 FOOD SERVICES + RENOVATIONS n/a 63.2 62.5 0.7 n/a STUDENT TOTAL 2.9 $808.8 $780.8 $28.0 n/a

STUDENT HOUSING 2002 – 2016 (millions)

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INSTITUTIONAL

Square Feet Budget Final Variance Cost/s.f. INSTITUTIONAL LEARNING, TEACHING + RESEARCH 4.1 $ 1,581.0 $ 1,571.0 $10.0 $382 PUBLIC REALM + TRANSIT n/a 86.7 86.6 0.1 ATHLETICS, AGRICULTURE + PARKING 1.0 185.5 186.5 (1.0) INSTITUTIONAL TOTAL 5.1 $ 1,853.2 $ 1,844.1 $9.1 UBCPT 1.6 512.7 505.5 7.2 $312 STUDENT 2.9 808.2 780.8 28.0 TOTAL 9.6 $3,174.7 $3,130.4 $44.3

INSTITUTIONAL, UBCPT & STUDENT HOUSING 2002 – 2016

(millions)

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SERVICING AND LAND LEASING

NEIGHBOURHOOD SERVICING & LEASING

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SERVICING AND LAND LEASING

• No Entitlement Risk
• Height
• Gross Buildable Area (GBA)
• Site Coverage
• Parking
• No Offsite costs (UBCPT provides all servicing)
• CAC’s @ $3.25 per GBA (UBCPT provides all amenities)
• Development permits issued within 6 months
• Sites are leased to developers based on

UBCPT’s assessment of demand

• UBCPT shares market risk
• Profit sharing
• Revenue sharing
• Deferred equity

MINIMIZING DEVELOPERS RISKS

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SERVICING AND LAND LEASING

B R O C K H O U S E P A R K S M I T H P A R K V I L L A G E L A N E N O B E L P A R K M U N D E L L P A R K K H O R A N A P A R K

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SERVICING AND LAND LEASING

COMMUNITY CENTRES

WESBROOK COMMUNITY CENTRE (CACs) HAWTHORN COMMUNITY CENTRE (CACs)

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SERVICING AND LAND LEASING

A D E R A ’ S P R O D I G Y P O L Y G O N ’ S T H E L A U R E A T E S W A L L F I N A N C I A L ’ S B I N N I N G T O W E R

RECENTLY COMPLETED CONDOS

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SERVICING AND LAND LEASING

HAMPTON PLACE

H A M P T O N P L A C E 2 0 1 0 H A M P T O N P L A C E E N T R A N C E T H E B R I S T O L

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SERVICING AND LAND LEASING

HAWTHORN PLACE

O L D B A R N C O M M U N I T Y C E N T R E H A W T H O R N G R E E N P R O M O N T O R Y

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SERVICING AND LAND LEASING

CHANCELLOR PLACE

C H A N C E L L O R H O U S E I N T R A C O R P ’ S F O L I O V A N C O U V E R S C H O O L O F E C O N O M I C S

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SERVICING AND LAND LEASING

EAST CAMPUS

V I S T A P O I N T G R E E N W O O D C O M M O N S P O L Y G O N S ’ S S I T K A

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SERVICING AND LAND LEASING

WESBROOK PLACE

W E S B R O O K V I L L A G E M U N D E L L P A R K V I L L A G E L A N E

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SERVICING AND LAND LEASING

Gross Buildable Area Acadia 3,200,000 SF Stadium 993,000 SF TOTAL 4,193,000 SF Rental Units 1,400 Prepaid Market Units 2,800 TOTAL UNITS 4,200

FUTURE

ACADIA EAST & STADIUM ROAD

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SERVICING AND LAND LEASING

Gross Buildable Area 6,083,000 sf Total Units 6,100 Rental Units 1,300 Market Leasehold Units 4,800 Population at Buildout 12,500

WESBROOK PLACE NEIGHBOURHOOD PLAN

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SERVICING AND LAND LEASING

WESBROOK PLACE – DEVELOPMENT SITE STATUS

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SERVICING AND LAND LEASING

WESBROOK CONDOS CURRENTLY UNDER CONSTRUCTION

P O L Y G O N ’ S E T O N A D E R A ’ S V I R T U O S O

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RENTAL PORTFOLIO

PROPERTY PORTFOLIO

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RENTAL PORTFOLIO

Project Type

• No. of Units
• r Beds

GBA (sq.ft.) Non-Market Rental (F&S) 467 491,000 Student Housing (Beds) 219 81,000 Market Residential Rental 382 324,000 Retail & Office n/a 285,000* SUBTOTAL 1,068 1,180,000 Under Construction Non-Market Rental (F&S) 211 197,000 Market Residential Rental 188 139,000 Retail & Office n/a 36,000 TOTAL 1,457 1,552,000 TOTAL ENTITLEMENT REMAINING 2,465,000

UBCPT RENTAL PORTFOLIO

(AS OF JUNE 30TH, 2016)

G R A N I T E T E R R A C E W E S B R O O K P L A C E

* Includes TEF

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RENTAL PORTFOLIO

W E B B E R H O U S E V I L L A G E S Q U A R E C Y P R E S S H O U S E + P I N E H O U S E C E N T R A L

UBCPT RENTAL PORTFOLIO – UNDER CONSTRUCTION

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FINANCIALS

FINANCIALS

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FINANCIALS

AN ANNUAL AL CAP APITAL EXPENDITURES

F iscal Year Ending March 31 ($ ($mi llions)

10 42 136 197 177 141 190 217 144 236 231 183 155 160 190 154 4 10 23 48 40 65 61 49 66 28 58 51 43 26 34 69 50 100 150 200 250 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 $ Millions Institutional Non-Institutional

Budget

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FINANCIALS

DI DISTRIBUTIONS - CU CUMULATIVE

F iscal Year Ending March 31 ($mil l ions)

* Includes donations paid to 1998.

76 101 121 162 232 279 290 299 310 367 376 440 509 564 660 100 200 300 400 500 600 700 1991- 1999 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 $ Millions Cumulative Est.

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FINANCIALS

VALUE CREATION

1991-2017 (millions)

YEAR ENDING MARCH 31ST DISTRIBUTIONS 2014 2015 2016 2017 TREK - Paid & Payable (since 2004) $418.4 $457.8 $500.5 $596.1 Non-TREK (1991 - 2003) 144.1 144.1 144.1 144.1 Dividends, cumulative (2011 - 2017) 9.0 16.4 21.4 26.4 TOTAL 571.5 618.3 666.0 765.3 APPRAISAL SURPLUS Residential @ 3.75% Capitalization 192.9 220.2 237.1 266.0 Commercial @ 5.0% Capitalization 36.9 61.4 61.4 68.9 TOTAL 229.8 281.6 298.5 334.9 DEVELOPMENT COST CHARGES Infrastructure Impact Charges 51.5 58.4 62.7 76.9 Community Amenity Charges 9.5 10.2 10.6 11.6 TOTAL 61.0 68.6 73.2 88.5 TOTAL VALUE CREATION $862.3 $968.5 $1,037.7 $1,188.7