Annual Meeting of Unitholders 2019 1 Caution Concerning Forward - - PowerPoint PPT Presentation

▶
annual meeting of unitholders 2019
SMART_READER_LITE
LIVE PREVIEW

Annual Meeting of Unitholders 2019 1 Caution Concerning Forward - - PowerPoint PPT Presentation

Aug 04, 2023 215 likes •740 views

Annual Meeting of Unitholders 2019 1 Caution Concerning Forward Looking Statements & Non-IFRS Financial Measures Certain information in this presentation and oral answers to questions may contain forward- looking information. Actual

slide-1
SLIDE 1

Annual Meeting of Unitholders 2019

1

slide-2
SLIDE 2

Caution Concerning Forward Looking Statements & Non-IFRS Financial Measures

Certain information in this presentation and oral answers to questions may contain forward- looking information. Actual results could differ materially from conclusions, forecasts or projections in the forward-looking information, and certain material factors or assumptions were applied in drawing conclusions or making forecasts or projections as reflected in the forward-looking information. Additional information about the material factors and risks that could cause actual results to differ materially from the conclusions, forecasts or projections in the forward-looking information presented herein is available in Plaza Retail REIT’s regulatory filings filed on SEDAR (www.sedar.com). This presentation contains certain Non-IFRS financial measures including FFO. Please refer to Plaza’s most recent Management’s Discussion & Analysis for a description of these non- IFRS measures and for a reconciliation of these non-IFRS measures to standardized IFRS measures. 2

slide-3
SLIDE 3

Business of the Meeting

  • Election of Trustees
  • Appointment of Auditor

3

slide-4
SLIDE 4

Why is Plaza Unique?

1

2 3 4

5 Plaza focuses on per unit growth through accretive developments. Plaza is fully internalized and able to develop new retail properties using in-house resources. 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. 4

slide-5
SLIDE 5

Profile

properties

278

~ 8.2M square feet

Existing Portfolio Development Pipeline

projects

27

~ 1.3M square feet

  • Developer, redeveloper and owner of retail properties,

focused on Ontario, Quebec and Atlantic Canada.

  • Strong relationships with leading retailers.
  • 16 year history of accretive growth and

value creation within the REIT through in-house development expertise.

  • Competitive advantage as a developer

in Atlantic Canada.

  • Long-term financing strategy to lock-in returns.
  • Alignment of interests with internalized

management and ~21% insider ownership.

96.3%

Occupancy 5 TSX: PLZ.UN Distribution: $0.28 Units Outstanding: 102.7 million Yield: ~6.7% Recent Price (May 21, 2019): $4.19 ~13% Rate of Return CGAR since IPO in 1999 Market Cap: $432M Debt to GBV (ex converts): 51.8%

slide-6
SLIDE 6

Q1 2019

14%

Ontario

21%

Québec

NOI by Province

2%

West

18%

Nova Scotia

24%

New Brunswick

9%

Newfoundland

12%

PEI

6

slide-7
SLIDE 7

Plaza’s Geography

Q1 2019

8 Properties – 64,662 SF

West

70 Properties – 1,571,924 SF 97 Properties – 2,146,427 SF 110 Properties – 4,391,871 SF

Ontario Quebec Atlantic

7

slide-8
SLIDE 8

Plaza’s Portfolio Composition

Q1 2019

110 Properties – 65.7% of Base Rent Strip 71 Properties – 19.2% of Base Rent 100 Properties – 8.0% of Base Rent 4 Properties – 7.1% of Base Rent Single Tenant Retail Single Tenant QSR Enclosed National 91%

Regional 3% Local 4% Non-Retail 2%

8

slide-9
SLIDE 9

Top Ten Tenants by Revenue – 55.7%

Q1 2019

9

slide-10
SLIDE 10

Redevelopment Successes 2018/2019

10

slide-11
SLIDE 11

Redevelopment Success:

SBT Chicoutimi, Chicoutimi, QC (former SEARS)

11

slide-12
SLIDE 12

Redevelopment Success:

SBT Chicoutimi, Chicoutimi, QC (former SEARS)

12

slide-13
SLIDE 13

Redevelopment Success:

SBT Chicoutimi, Chicoutimi, QC

13

slide-14
SLIDE 14

Redevelopment Success:

1000 Islands Plaza, Brockville, ON

14

slide-15
SLIDE 15

Redevelopment Success:

1000 Islands Plaza, Brockville, ON

15

slide-16
SLIDE 16

Redevelopment Success:

Granite Drive Plaza, New Minas, NS (former Future Shop)

16

slide-17
SLIDE 17

Redevelopment Success:

Granite Drive Plaza, New Minas, NS (new Dollarama)

17

slide-18
SLIDE 18

Redevelopment Success:

Granite Drive Plaza, New Minas, NS (new Easy Home & Winners expansion for Homesense)

18

slide-19
SLIDE 19

Redevelopment Success:

Torbram Road, Brampton, ON

19

slide-20
SLIDE 20

Redevelopment Success:

Torbram Road, Brampton, ON

20

slide-21
SLIDE 21

Redevelopment Success:

Torbram Road, Brampton, ON

21

slide-22
SLIDE 22

Redevelopment Success:

Lawrence Ave. East, Scarborough, ON

22

slide-23
SLIDE 23

Redevelopment Success:

Lawrence Ave. East, Scarborough, ON

23

slide-24
SLIDE 24

Redevelopment Success:

6685 Century Ave., Mississauga, ON (future Movati Fitness)

24

slide-25
SLIDE 25

Redevelopment Success:

6685 Century Ave., Mississauga, ON (future Movati Fitness)

25

slide-26
SLIDE 26

Redevelopment Success:

6685 Century Ave., Mississauga, ON (future Movati Fitness)

26

slide-27
SLIDE 27

Redevelopment Success:

1096 Wellington, Ottawa, ON

27

slide-28
SLIDE 28

Redevelopment Success:

1096 Wellington, Ottawa, ON (Domino’s)

28

slide-29
SLIDE 29

Development Successes 2018/2019

29

slide-30
SLIDE 30

Development Success:

Main Place, Fredericton, NB (A&W)

30

slide-31
SLIDE 31

Development Success:

Queens Place Drive, Liverpool, NS (Dollarama)

31

slide-32
SLIDE 32

Development Success:

Bedford Commons (Phase 1), Bedford, NS (BNS pad)

32

slide-33
SLIDE 33

Development Success:

The Shoppes at Galway, St. John’s, NL (Costco)

33

slide-34
SLIDE 34

Development Success:

The Shoppes at Galway, St. John’s, NL (Costco)

34

slide-35
SLIDE 35

Development Success:

The Shoppes at Galway, St. John’s, NL (Petsmart)

35

slide-36
SLIDE 36

Development Success:

The Shoppes at Galway, St. John’s, NL (Dollarama & Michaels)

36

slide-37
SLIDE 37

Development Success:

The Shoppes at Galway, St. John’s, NL (Marshalls & Homesense)

37

slide-38
SLIDE 38

Development Success:

Champlain Street Plaza (Phase II), Dieppe, NB (future Ren’s Pets)

38

slide-39
SLIDE 39

Development Success:

Champlain Street Plaza (Phase II), Dieppe, NB (future Ren’s Pets)

39

slide-40
SLIDE 40

Development Success:

Jean-Paul Perrault – Sherbrooke, QC

40

slide-41
SLIDE 41

Development Success:

Jean-Paul Perrault – Sherbrooke, QC (future SAIL)

41

slide-42
SLIDE 42

Development Success:

Plaza des Laurentides, St-Jérôme, QC (future Princess Auto)

42

slide-43
SLIDE 43

Development Success:

Plaza des Laurentides, St-Jérôme, QC (future Princess Auto)

43

slide-44
SLIDE 44

Development Success:

Plaza des Laurentides, St-Jérôme, QC (future Princess Auto)

44

slide-45
SLIDE 45

Ecommerce

Ecommerce and retail can be looked at through 3 distinct categories: Businesses that cannot be carried out on-line: hair salons, restaurants, treasure hunt retail, $ stores and various specialty retail. These business are not impacted by on-line commerce. Businesses that function best with an omni-channel strategy that combines Ecommerce with physical stores: sporting goods, fashion, electronics, pets, décor, financial services, general merchandise stores. Businesses that function without physical stores: music, film, television show downloads. 45

1

2 3

slide-46
SLIDE 46

Ecommerce

  • Media attention around retailer woes.
  • Canadian retailers are facing a variety of serious challenges: fierce competition,
  • utdated business models, lack of execution, Ecommerce and changing trends in

retail properties.

  • Success and growth will come from both on-line sales and bricks and mortar

retail.

  • Ecommerce creates change and opportunity; Plaza is well-positioned to take

advantage of changing demand and formats for retail stores. 46

slide-47
SLIDE 47

Ecommerce

  • Many of the reasons for the exit by investors from retail REITs are not relevant to

Plaza.

  • Plaza’s properties are smaller and very community centric, attracting customers
  • n a regular basis as they conduct their pre and post work routines.
  • Plaza’s tenant line-up features value, specialty and necessity based retailers that

require a local physical presence. 47

slide-48
SLIDE 48

Revenue by Retail Category

70-75% Ecommerce Resistant

Pharmacy / Medical 31% Restaurant / Entertainment 17%

Specialty Retail 13% Grocery / Liquor 7% Dollar Stores 6% Fashion 6% Treasure Fashion 4% Banking/ Financial 4% Home Décor & Furniture 4% Pet 3% Other 5%

48

slide-49
SLIDE 49

Investment Highlights

  • Unique positioning as a developer and value creation REIT.
  • Leveraging competitive advantage in Atlantic Canada.
  • Focus on value, convenience and specialty retail.
  • Stable, high occupancy with national tenants comprising ~91% of revenue.
  • Superior returns through property development.
  • Long-term financing strategy to lock-in returns.
  • Alignment of interests with internalized

management and ~21% insider ownership. 49

slide-50
SLIDE 50

Thank you!

Follow us on LinkedIn at PLAZA REIT for all of our latest news

50