Attached files
| file | filename |
|---|---|
| 8-K - 8-K - InvenTrust Properties Corp. | d611199d8k.htm |
| EX-99.1 - EX-99.1 - InvenTrust Properties Corp. | d611199dex991.htm |
| EX-99.3 - EX-99.3 - InvenTrust Properties Corp. | d611199dex993.htm |
 10/15/13
Slides for Video
Capturing
the
Recovery
Cycle:
A
Focus
on
Growth,
A
Commitment
to
Value
Creation
Exhibit 99.2 |
 2
Forward-Looking Statements
This presentation contains “forward-looking statements,”
which are not historical facts, within the meaning of the Private Securities Litigation Reform Act of 1995. We intend that these forward-looking
statements be subject to the safe harbor provisions created by Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include statements
regarding management's intentions, beliefs, expectations,
representations, plans or predictions of the future. Our actual results, performance or achievements may differ materially from those expressed
or implied by these forward-looking statements. In some cases, you
can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,”
“believe,” “estimate,” “predict,”
“potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such
forward-looking statements are necessarily based upon estimates and
assumptions that, while considered reasonable by us and our management, are inherently uncertain. These forward-looking
statements involve numerous risks and uncertainties that could cause
actual results to be materially different from those set forth in the forward-looking statements. Factors that may cause actual results
to differ materially from current expectations are outlined more
particularly in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2012 and any
subsequent Quarterly Reports on Form 10-Q or Current Reports on
Form 8-K, which filings are available from the SEC. These factors include, but are not limited to:
• financial market disruptions current and future economic
conditions could adversely affect our ability to refinance or secure additional debt financing at attractive terms as well as the values of our
investments;
• our ongoing strategy involves the disposition of properties;
however, we may be unable to sell a property at acceptable terms and conditions, if at all. Our strategy also depends on future acquisitions,
and we may not be successful in identifying and consummating these
transactions; • there is no assurance that we will be able
to continue paying cash distributions or that distributions will increase over time;
• an ongoing investigation by the SEC and the receipt of two
related derivative demands by stockholders to conduct investigations and a lawsuit related to the derivative demands. The SEC’s
investigation, the derivative demands, or both could have a material
adverse impact on our business; • funding distributions
from sources other than cash flow from operating activities may negatively impact our ability to sustain or pay distributions and will result in us having less cash available for
other uses;
• there is no established public market for our shares, and
stockholders may not be able to sell their shares, including through our share repurchase program;
• increasing vacancy rates for certain classes of real estate
assets and possible disruption in the financial markets could adversely affect the value of our assets;
• we may suffer adverse consequences due to the financial
difficulties, bankruptcy or insolvency of our tenants; •
our investments in equity and debt securities have materially impacted, and may in the future, materially impact our results;
• the financial covenants under our credit agreement may restrict
our ability to make distributions and our operating and acquisition activities;
• our borrowings may reduce the funds available for distribution
and increase the risk of loss since defaults may cause us to lose the properties securing the loans;
• two tenants generated a significant portion of our revenue, and
rental payment defaults by these significant tenants could adversely affect our results of operations;
• we are subject to conflicts of interest with affiliates of our
sponsor, which may affect our acquisition of properties and financial performance;
• The estimated value of our common stock is based on a number of
assumptions and estimates that may not be accurate or complete and is also subject to a number of limitations;
• we rely on our business manager and property managers to manage
our business and assets, and pay significant fees to these parties; and
• if we fail to qualify as a REIT, our operations and
distributions to stockholders will be adversely affected. We caution you not to place undue reliance on any
forward-looking statements, which are made as of the date of this presentation. We undertake no obligation to update publicly any of these forward-
looking statements to reflect actual results, new information or future
events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by
applicable laws. If we update one or more forward-looking
statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
This material is neither an offer to sell nor the solicitation of an
offer to buy any security, which can be made only by the prospectus which has been filed or registered with appropriate state and federal
regulatory agencies. No regulatory agency has passed on or endorsed the
merits of our offering. Any representation to the contrary is unlawful.
The companies depicted in the photographs herein may have proprietary
interests in their trade names and trademarks and nothing herein shall be considered to be an endorsement, authorization or
approval of Inland American by the companies. Furthermore, none of
these companies are affiliated with Inland American in any manner.
The Inland name and logo are registered trademarks being used under
license. |
 3
Same-Store NOI Growth
Same-store NOI Up 2.2% for the first half of 2013
|
 4
Debt Maturities
% of Total Debt
as of
06/30/13 5.2%
11.2%
12.3%
17.5% 25.8% |
 5
Core Portfolio as of 12/31/12
Based undepreciated asset values
Portfolio contained approximately $3 billion of net lease properties
|
 6
Portfolio after Net Lease Transaction is Closed
Many variables exist over the next 9 months before the final closing of the
net lease transaction so the final portfolio breakdown by asset class
may differ from portfolio shown above |
 7
FFO Reconciliation Slide
In Millions
6/30/2013
6/30/2012
Net income (loss) attributable to the Company
(28,270)
(48,193)
Add:
Depreciation and amortization related to investment properties and investment in
unconsolidated entities 221,213
242,489
Provision for asset impairment reflected in continuing and discontinued operations
189,544
27,887
Impairment, loss and (gain) of investment in unconsolidated entities, net
568
4,200
Impairment, loss and (gain) of investment property reflected in equtiy in earnings of
unconsolidated entities, net (3,416)
(1,928)
Less:
Gains from property sales and transfer of assets
132,921
(2,231)
Funds from Operations
246,718
226,686
Weighted Average Shares Outstanding
894,679,702
875,037,776
Six months ended |