annual general meeting presentation-vfinal-2 · flow ~10 years approximate effective age of...
TRANSCRIPT
Annual General Meeting
Agenda
• Chairman’s Opening Remarks
o Appointment of Secretary and Scrutineer
o Constitution of Meeting
o Financial Statements and Auditors’ Report
• Election of Directors
• Appointment of Auditors
• Management Presentation
• Termination of the Meeting
• Management Question Period
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Annual General Meeting 3
Chairman’s Remarks
• Appointment of Security and Scrutineer
• Constitution of Meeting• Financial Statements
and Auditor’s Report
Scott White, Chairman & CEO
Annual General Meeting
Annual General Meeting
Election of Directors
4
Scott WhiteChairman & CEO
Brad BenbowDirector
Shaun HawkinsDirector
Chuck HermanLead Independent Director
Randy MaultsbyDirector
Adlai ChesterDirector & CIO
Annual General Meeting
Invesque at a Glance
6
Macro OpportunityMassive wave of aging baby boomers will utilize greater health care service and spend more dollars on health care. We are just beginning and the real growth is ahead.
MissionWe are committed to owning best-in-class properties, providing our partners with an environment to succeed and our shareholders with long-term value, growth, stability and ultimately and investment opportunity that matters.
StrategyBuild a highly diversified portfolio of income generating health care real estate. Diversify by type of asset, geography, payor source and operator. Operating partners are the key to our success.
Investment ThesisHealth care real estate generates long-term, out-paced risk adjusted returns. While any particular asset class may come in and out of favor in any cycle, long-term, patient investors, will be rewarded.
Annual General Meeting
Invesque Portfolio Snapshot
7
102Properties
8,500+Beds/Suites
577,000MOB ft2
~2.2%avg. annual
rental escalators(1)
~12.5 yearsWeighted average
lease maturity
Triple-net lease and joint venture structure provides stable cash
flow
~10 yearsApproximate effective
age of portfolio
Geographically diversified across 20 states & 2 Canadian Provinces
(1) Triple net lease portfolio
20Partnerships with
high-quality operators
Annual General Meeting
Building a Strong Platform
8
11 Properties$303 million
Oct 2015/Apr 2016Invesque Affiliate
Acquired Symphony Portfolio
23 Properties$443 million
Jun 2016$109 millionInitial Equity
Offering
Oct 2016
28 Properties$575 million
$74 million Follow-on Offering
Nov 2016
32 Properties$598 million
Acquired Canadian Assets
May 2017
38 Properties$680 million
Acquired Portfolio from
Ensign
Dec 2016
35 Properties $636 million
$45 million Convertible Debenture
Offering
Caret AcquisitionAcquired Memory
Care and Transitional Care
PortfoliosRebrand to Invesque
Jan/Feb 2018
89 Properties$1.3 billion
Nov/Dec 2017
40 Properties$747 million
Acquired 3 Transitional
Care Facilities
Announced Mohawk Medical REIT
Acquisition
Mar 2018
100 Properties$1.4 billion
102 Properties$1.5 billion
May 2019Acquired 3
Symphony Assets and Constant
Care Community
Annual General Meeting
Robust Growth
Total Asset Value
At IPO April 2019 Total
$428 million
# of Operators
Property Count
Geography
5
23
5 States
$1.5 billion
20
102
20 States, 2 Provinces
3.5x
4.0x
4.4x
4.4x
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Annual General Meeting
Geographically Diverse Footprint
10
ONTARIO
CA2
ON12
AZ 1
NE2
MO1
IN2
KS 2
AR 1
IL 14
NJ2
MD3
VA6
PA 15
NY9
SC4
TX 13 LA1FL3
GA 3
8,500+ suites & beds577,000 MOB ft2
~US$1.5 billion of Investment Properties
All information provided includes closed transactions.
102 Properties
WI1
AB3
TN2
Annual General Meeting
2018 YE – Financial Snapshot
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86%PAYOUT RATIO
$0.86AFFO / SHARE
57%DEBT TO GBV
$114MANNUAL REVENUE
Annual General Meeting
2019 Q1 – Financial Snapshot
12
88%PAYOUT RATIO
$0.21AFFO / SHARE
~59%DEBT TO GBV
$29MQUARTERLY REVENUE