Investor Presentation 2017

Transcription

1 Investor Presentation 2017

2 BACKGROUND 2017 Broad Street Realty, LLC l 2

3 BACKGROUND BROAD STREET REALTY OVERVIEW Michael Jacoby (based in Bethesda) and Tom Yockey (based in Denver) founded Broad Street in Mike over 28 years of commercial real estate experience; Tom over 33 years. Combined, they have executed on transactions totaling over 30 million square feet of real estate, including over $500 million of total capitalization. They have been working together for more than 18 years. Broad Street raises equity through syndications that include a deep pool of long standing investors and creates joint ventures with both high net worth individuals and institutional investors. Based in Bethesda, Maryland, with offices in Northern Virginia, Denver, Colorado and Washington, DC Full-service real estate company: acquisitions, development, finance, property management, and commercial real estate brokerage (leasing & investment sales) Number of employees at founding in 2002: 4 Number of employees today: Broad Street Realty, LLC l 3

4 ORGANIZATIONAL CHART 2017 Broad Street Realty, LLC l 4

5 BROAD STREET PORTFOLIO Colorado Maryland Pennsylvania Virginia Washington, DC 2017 Broad Street Realty, LLC l 5

6 PORTFOLIO GROWTH BY ASSET CLASS Total SF 2,500,000 Portfolio Growth of Owned Real Estate by Asset Class* 2,500,000 Retail Storage Flex/Industrial Office 2,000,000 1,500,000 2,000,000 1,500,000 1,000,000 1,000, , ,000 *Not including condo projects % Change/Yr 0% 74% 35% 35% 27% -7% -19% 13% 18% 14% 44% 43% 34% 8% -4% 27% 2017 Broad Street Realty, LLC l 6

7 PORTFOLIO GROWTH BY SQUARE FOOTAGE Total SF 2,500,000 Retail Asset Growth by SF 1,908,973 2,000,000 1,500,000 1,420,637 1,425,592 Third Party Managed 1,000, ,000 Owned Broad Street Realty, LLC l 7

8 OWNED RETAIL PORTFOLIO # Project Name Location GLA (SF) Current Occupancy Anchor Tenant Date Acquired Total Capitalization Total Equity Invested 2016 NOI 2016 Annualized Equity Return Projected Total Deal IRR 1) Vista Shops at Golden Mile Frederick, MD 106,129 86% Aldi, Planet Fitness, Dollar Tree 12/1/2006 $16,975,000 $5,475,000 $1,216, % 12.2% 2) Avondale Shops Washington, DC 28, % Dollar Tree, 7-Eleven 8/5/2010 $5,300,000 $1,800,000 $504, % 12.0% 3) Crestview Square Shopping Center Landover Hills, MD 74,694 95% Value Village, Family Dollar 8/30/2011 $11,725,000 $3,700,000 $1,181, % 13.3% 4) Brookhill Azalea Shopping Center Richmond, VA 163,440 84% 5) Coral Hills Shopping Center Capitol Heights, MD 89, % Food Lion, Aaron's, Citi Trends, Rainbow Shopper's Food, Family Dollar 3/23/2012 $10,610,000 $4,125,000 $1,103, % 19.5% 12/21/2012 $14,000,000 $4,200,000 $1,143, % 12.0% 6) Highlandtown Village Shopping Center Baltimore, MD 57, % Hazlo, Rite Aid, Dollar Tree 4/19/2013 $9,900,000 $3,400,000 $812, % 12.2% 7) Hollinswood Shopping Center Baltimore, MD 112,581 97% LA Mart, Dollar General 9/17/2013 $12,800,000 $7,400,000 $1,434, % 14.7% 8) Dekalb Plaza Suburban Philadelphia 178,719 80% 9) Lamar Station Plaza Lakewood, CO 202,286 80% Savers, Big Lots, Crunch Fitness, Aldi Casa Bonita, Planet Fitness, Ross Dress for Less, Dollar Tree, ARC 9/27/2013 $11,225,000 $4,325,000 $1,093,131 N/A 18.0% 4/14/2014 $11,275,000 $5,775,000 $878,188 N/A 37.3% 10) Spotswood Valley Square Harrisonburg, VA 190,650 94% Kroger, TJ Maxx, Planet Fitness, Sentara, Party City 6/6/2014 $19,460,000 $5,335,000 $1,416, % 11.6% 11) Cypress Point Shopping Center Virginia Beach, VA 117,907 84% Farm Fresh, Dollar Tree 6/26/2015 $13,350,000 $4,250,000 $912, % 13.3% 12) West Broad Commons Richmond, VA 103,308 91% Food Lion, Empire Beauty School 12/12/2016 $10,500,000 $4,200,000 $890,661 N/A 24.3% 13) Williamsburg Shopping Center Williamsburg, VA 249,895 56% Food Lion, Marshalls, Ace Hardware 1/6/2017 $15,500,000 $6,000,000 $1,325,625 N/A 20%+ 14) Cromwell Field Shopping Center Glen Burnie, MD 233,486 88% Giant, Roses, Dollar General 2/1/2017 $21,000,000 $7,300,000 $1,494,982 N/A 14.0% 15) Shops at Greenwood Village Greenwood village, CO 209,953 85% Vitamin Cottage; US Postal Service Under Contract $26,800,000 $10,255,000 $2,185,358 N/A 16.9% Portfolio Summary 2,119,202 84% 210,420,000 77,540,000 17,593, % 16.5% The past performance of Broad Street and its affiliates cannot be relied upon as an indication of Broad Street and its affiliates future performance or success. Past performance is no guarantee of future results. Certain forecasts of operations and forward looking statements (the Projections ) are contained herein. These Projections are based on a number of assumptions and are subject to significant uncertainties and contingencies, many of which are beyond Broad Street or its affiliates' control. There is no assurance that such Projections will be realized, and actual results may vary significantly from those shown. Prospective investors should conduct their own investigation and independent assessment of the Projections Broad Street Realty, LLC l 8

9 ACQUISTION CRITERIA Broad Street is actively seeking to acquire community and neighborhood shopping centers throughout the Mid-Atlantic region, Denver, and South Florida. Property Type: Community/Neighborhood Shopping Centers Transaction Size: $5 million + 50,000 SF + Investment Structure: Fee simple interest JV structures Note purchases Debt assumption Value-Oriented Strong Location Investment Strategy Upside Potential Broad Street focuses on a value-add approach through the acquisition of underperforming real estate assets. We look for well-located, yet undervalued properties where we can apply our market expertise, financial acumen, in-house management and development experience to enhance value. Since 2002, Broad Street has acquired, developed, and redeveloped over 1.9 million square feet of retail, office, industrial, and mix-use properties throughout the Mid-Atlantic Regions, extending to Denver. We have consistently demonstrated the ability to execute challenging real estate transactions. Markets: Baltimore Denver Norfolk-VirginiaBeach Philadelphia Richmond South Florida Washington, DC Broad Street offers surety of close and a deeply experienced team of professionals that can execute complex transactions Broad Street Realty, LLC l 9

10 RECENT ACQUISTION Cromwell Field Shopping Center Neighborhood Shopping Center 7383 Baltimore Annapolis Blvd, Glen Burnie, MD 233,486 SF Giant Food, Roses, McDonald s, Dunkin Donuts Williamsburg Shopping Center Community Shopping Center 1234 Richmond Rd Williamsburg, VA 249,895 SF Food Lion, Ace Hardware, Marshall's, Advanced Auto Parts West Broad Commons Neighborhood Shopping Center 9031 West Broad Street Richmond, VA 103,308 SF Food Lion, Empire Beauty School, Teppanyaki Grill & Buffett, CKO Kickboxing Cypress Point Shopping Center Community Shopping Center 928 Diamond Springs Rd, Virginia Beach, VA 119,907 SF Farm Fresh, Dollar Tree, Surf Rider Restaurant, Supercuts 2017 Broad Street Realty, LLC l 10