INVESTOR PRESENTATION Broad Street Realty, LLC l 1

Transcription

1 INVESTOR PRESENTATION Broad Street Realty, LLC l 1

2 BACKGROUND Experts in the complex and challenging world of commercial real estate 2018 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 29 years of commercial real estate experience; Tom over 34 years. Combined, they have executed on transactions totaling over 31 million square feet of real estate, including over $575 million of total capitalization. They have been working together for more than 19 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 Washington, DC, Northern Virginia and Denver, Colorado. 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 2018 Broad Street Realty, LLC l 4

5 BROAD STREET PORTFOLIO Colorado Maryland Pennsylvania Virginia Washington, DC 2018 Broad Street Realty, LLC l 5

6 PORTFOLIO GROWTH BY ASSET CLASS Growth of Real Estate Owned by Asset Class* Total SF Thousands 2,500 Retail 2,000 Flex/Industrial Office 1,500 Storage *Not including condo projects and entitled development. 1, Number of Properties % Change/Yr % 74% 35% 35% 27% -7% -19% 13% 18% 14% 44% 42% 26% 8% -4% 47% 2018 Broad Street Realty, LLC l 6

7 PORTFOLIO GROWTH BY SQUARE FOOTAGE Retail Properties Owned and Managed Total SF Thousands 2,500 2,000 1,500 1, Third Party Managed Owned ,198 1,316 1,425 2, 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 2017 NOI 2017 Annualized Equity Return Projected Total Deal IRR 1) Vista Shops at Golden Mile Frederick, MD 98,885 86% Aldi, Planet Fitness, Dollar Tree 12/1/2006 $16,220,000 $6,600,000 $1,042,068 N/A N/A 2) Avondale Shops Washington, DC 28, % Dollar Tree, 7-Eleven, YMCA 8/5/2010 $5,273,000 $2,747,000 $435, % 12.0% 3) Crestview Square Shopping Center Landover Hills, MD 74,694 95% Value Village, Family Dollar, 7-Eleven 8/30/2011 $13,335,000 $5,565,000 $1,217, % 13.3% 4) Brookhill Azalea Shopping Center Richmond, VA 162,861 84% Food Lion, Aaron's, Citi Trends, Rainbow 3/23/2012 $10,305,000 $7,970,000 $1,159, % 19.5% 5) Coral Hills Shopping Center Capitol Heights, MD 85, % Shopper's Food, Family Dollar, Auto Zone 12/21/2012 $11,333,000 $4,967,000 $1,138, % 12.0% 6) Highlandtown Village Shopping Center Baltimore, MD 57,513 90% Hazlo, Dollar Tree 4/19/2013 $9,356,000 $4,610,000 $690, % 12.2% 7) Hollinswood Shopping Center Baltimore, MD 116,746 85% LA Mart, Royal Farms, Dollar General, Sonic, Popeyes 9/17/2013 $12,375,000 $13,150,000 $1,539, % 14.7% 8) Dekalb Plaza Suburban Philadelphia 178,815 89% Savers, Big Lots, Crunch Fitness, Aldi 9/27/2013 $17,305,000 $4,235,000 $995,033 N/A 18.0% 9) Lamar Station Plaza Lakewood, CO 199,574 85% Casa Bonita, Planet Fitness, Ross Dress for Less, Dollar Tree, ARC 4/14/2014 $19,814,000 $5,523,050 $895, % 37.3% 10) Spotswood Valley Square Harrisonburg, VA 190,650 99% Kroger, TJ Maxx, Planet Fitness, Sentara, Party City 6/6/2014 $18,638,000 $5,973,000 $1,471, % 11.6% 11) Cypress Point Shopping Center Virginia Beach, VA 118,199 89% Farm Fresh, Dollar Tree 6/26/2015 $13,225,000 $4,190,000 $795, % 13.3% 12) West Broad Commons Richmond, VA 109,551 94% New Grand Mart, Empire Beauty School 12/12/2016 $11,213,190 $8,891,810 $886, % 24.3% 13) Williamsburg Shopping Center Williamsburg, VA 249,895 56% Food Lion, Marshalls, Ace Hardware 1/6/2017 $25,500,000 $6,000,000 $1,045, % 20%+ 14) Cromwell Field Shopping Center Glen Burnie, MD 233,486 87% Giant, Roses 2/1/2017 $20,950,000 $6,705,000 $1,330, % 14.0% 15) Shops at Greenwood Village Greenwood village, CO $209,953 85% Vitamin Cottage; US Postal Service 12/6/2017 $28,260,000 $11,700,000 $2,185, % 16.9% 16) Midtown Row Building 10 Williamsburg, VA $79,736 62% Earth Fare 11/17/2017 $17,000,000 $4,000,000 N/A 8.0% 23.6% Portfolio Summary $2,194,530 85% $250,102,190 $102,826,860 $16,828, % 17.3% 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 following markets: Washington, DC, Baltimore, Richmond, Norfolk-Virginia Beach, Denver, Philadelphia, and South Florida. Investment Strategy: 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 3.0 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. Broad Street offers surety of close and a deeply experienced team of professionals that can execute complex transactions. Property Type: Community/Neighborhood Shopping Centers Transaction Size: $7 million + 70,000 SF + Investment Structure: Fee simple interest JV structures Note purchases Debt assumption 2018 Broad Street Realty, LLC l 9

10 RECENT ACQUISTIONS Cromwell Field Shopping Center Neighborhood Shopping Center Glen Burnie, MD 233,486 SF Roses, McDonald s, Dunkin Donuts, Dollar General West Broad Commons Neighborhood Shopping Center Richmond, VA 109,551 SF New Grand Mart, Empire Beauty School, Teppanyaki Grill & Buffett, CKO Kickboxing Shops at Greenwood Village Neighborhood Shopping Center Greenwood Village, CO 210,593 SF USPS, Vitamin Cottage, Napa Auto Parts Midtown Row Williamsburg Shopping Center Monticello Community Centers (Mixed-Use Redevelopment) Williamsburg, VA 329,631 SF Food Lion, Ace Hardware, Marshall's, EarthFare 2018 Broad Street Realty, LLC l 10