ELS Equity Lifestyle Properties Dec 2009 Presentation

8/14/2019 ELS Equity Lifestyle Properties Dec 2009 Presentation

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@qucty Lcb`_tyl` Yrdp`rtc`s@qucty Lcb`_tyl` Yrdp`rtc`s

@L_@L_

Cav`stdr Yr`s`atktcdaN`o`mg`r 7993


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?

@qucty Lcb`_tyl` Yrdp`rtc`s

^kgl` db Odat`ats

;. Odmpkay Dv`rvc`w

7. Gusca`ss Mkrj`tcaf Cactcktcv`s

?. _ummkry

Kpp`ancx8

Bcakaockls

>

;;

7;

7?

Ykf`


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>

Odmpkay Dv`rvc`w


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0


@L_ Dv`rvc`w

Da` db te` aktcdas lkrf`st r`kl `stkt` a`twdrjs wcte kpprdxcmkt`ly ?99 prdp`rtc`sodatkcacaf klmdst ;;;,999 sct`s ca 76 stkt`s kan Grctcse Odlumgck

@L_ eks k uacqu` gusca`ss mdn`l8

@L_ dwas te` lkan

L`ks`s cancvcnukl n`v`ldp`n sct`s td oustdm`rs

Oustdm`rs dwa te` uacts te`y plko` da te` sct`s

@L_ sct` odmpdsctcda

>2,999 mkaubkotur`n dr r`sdrt edm` sct`s

>9,999 puglco WR sct`s bdr r`sdrt odttkf`s (pkrj mdn`ls) kan ròr`ktcdakl vècol`s

7>,999 rcfet td us` sct`s

@L_s ràt pdsctcda cs prcm`

Dv`r ;,999,999 oustdm`r odatkots


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2


@L_ Gusca`ss @xpkascda (799? Ourràt)

Aumg`r db _ct`sAumg`r db Yrdp`rtc`s

= ME = WR (Lcb`_tyl`)

;75

;?2

;>

;25

9

>9

59

;79

;29

799? Ourràt

39.;%

3.3%

00.?%

>>.6%

>>,

55>

>0,

5;5

5,

6?6

2>,

060

-

79,999

>9,999

29,999

59,999

799? Ourràt

5?.6%

05.0%

;2.?%

>;.0%

>>,

399

5,

599 >

0,

399

2>,

099

>;.2%

05.>%


7/29

6


@L_ J`y Rklu` Nrcv`rs

V`ll Ldokt`n W`kl @stkt` 160 prdp`rtc`s wcte lkj`, rcv`r kan do`ka brdatkf`

159 prdp`rtc`s wcteca ;9 mcl`s db odkstkl Pact`n _tkt`s

Yrdp`rty ldoktcdas kr` strdafly odrr`lkt`n wcte pdpulktcda mcfrktcda

Bkvdrkgl` Oustdm`r N`mdfrkpecos

Kotcv` knults kan WR dwa`rs / Dutnddr `ateuscksts

Yrdnuot Bl`xcgclcty

Dwa, r`at, bl`xcgl` us` dr rcfet td us`


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5


@L_ Drcfcakl Yrdp`rty Ldoktcdas (;33? CYD)


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3


@L_ Yrdp`rty Ldoktcda _ecbt (;)(7)(?)(>)

+ prdp`rtc`s scao` CYD

- prdp`rtc`s scao` CYD

^dp 0 A`w Koqucsctcda _tkt`s8 + ;50 prdp`rtc`s: +2.0M pdpulktcda

Kll Ncspdsctcda _tkt`s8 -;0 prdp`rtc s: +26;J pdpulktcda

Adt`s8

;) _duro`8 P_ O`asus Gur`ku, 7995.7) Ydpulktcda oekaf` cs brdm 799? 7995.

?) ^dp 0 knnctcdakl stkt`s kr` BL, OK, KX, ^U, kan VK.>) Okaknk adt caolun`n.


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;9


@L_ Ourr`at Yrdp`rty Ldoktcdas


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;;

Gusca`ss Mkrj`tcaf Cactcktcv`s


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;7


Oustdm`r Ncsodv`ry (;)

Ks dur oustdm`rs àt`r lkt`r lcb` stkf`s te`y tàntd bkll catd dur mdr` stkgl` oustdm`r guoj`ts

^rkascàt WR Oustdm`r

?2-00, mkrrc`n, jcns, edm` dwa`r

Wcfet td Ps` WR kan _`ksdakl WR Oustdm`r

02-60, mkrrc`n, `mpty a`st`r, edm` dwa`r

Kaaukl WR kan ME Oustdm`r

22-60, mkrrc`n, `mpty a`st`r, edm` dwa`r

Adt`8;) _duro`8 Koxcdm 7995.


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;?


W`sdrt Edm` Oustdm`r

Yrcmkrcly kotcv` knults

Kv`rkf` P._. edusèdln caodm` cs$25,>99 (;)

Kv`rkf` P._. edusèdln caodm` dbp`dpl` 00 td 2> cs $66,099 (;)

Gkgy Gddm`rs (7)(?)

Dwa 06% db kll vkoktcda kan s`ksdakledm`s (7)

>9% catàn td tura te`cr vkoktcda edm`catd prcmkry r`scnào` kbt`r r`tcr`màt (7)

52% wduln lcj` td r`tcr` ca te` Adrte`kst,_dute, dr V`st (7)

;9

79

?9

>9

09

29

69

59

79;9 79;0 7979

69 td 6>

20 td 23

29 td 2>

00 td 03

KF@

P._. Ydpulktcda Dv`r Kf` db 00 (;)

(ca mcllcdas)

Adt`s8;) _duro`s8 P._. Oàsus Gur`ku, 7995.

7) _duro`s8 Ekrrcs Cat`rkotcv` bdr te` Aktcdakl Kssdocktcda db W`kltdrs, 7992.?) Gkgy gddm`rs kr` k P._. fà`rktcda gdra g`tw`à ;3>2 kan ;32>.


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;>


5M-3M WR dwa`rs ca te` Pact`n _tkt`s (;)(7)

Kv`rkf` db kpprdxcmkt`ly >7,999 WR dwa`rs ldokt`n wcteca ;99 mcl`s db`koe @L_ r`sdrt (7)

ê` typcokl WR dwa`r cs kf` >3, mkrrc`n, dwas k edm` kan eks ka kaaukl

edusèdln caodm` db $25,999(;)

>7.>M Okmpcaf Ykrtcocpkats ca 7995 (?)

20% db okmpcaf pkrtcocpkats ekv` edusèdln caodm`s kgdv` $>3,333 (?)

WR Dwa`rs kan Dutnddr @ateuscksts

Adt`s8

;) _duro`s8 Pacv`rscty db Mcoecfkas _urv`y W`s`kroe Oàt`r, 7990.

7) _duro`s8 Koxcdm 7993.?) _duro`s8 K _pòckl W`pdrt da Okmpcaf (k pkrta`rsecp prdhòt db8 Odl`mka kan Dutnddr Bduanktcda), 7993.


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;0


@L_ Lcb`_tyl` kan Kotcvctc`s

W`or`ktcda

Fdlb, sdbtgkll, bcsecaf, t`aacs,swcmmcaf, seubbl`gdkrn

Krts

Odao`rts, sedws, krt bkcrs, orkbts

@nuoktcda

_`mcakrs, Da` Nky Pacv`rscty

Rdluat``rcsm Odascn`r Dte`rs, buan rkcscaf


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;2


Kaaukl ME

Kaaukl WR

Kaaukl Wcfet td Ps`

Ptclcty & Dte`r

_`ksdakl

^rkascàt

_t`kny, Yr`ncotkgl` W`vàu` _tr`kms

Yrdp`rty W`vàu` Guoj`ts (;)

Kll Kaaukl W`vàu` = 39.0%$>3>M Yrdp`rty Dp`rktcaf W`vàu`s

Adt`s8

;) Yrdp`rty r`vàu` guoj`ts r`blòt te` `stcmkt`n 7993 prdp`rty dp`rktcaf r`vàu`s brdm te` 79;9 odr` prdp`rtc`s. _`` pkf` 76 bdr te` `stcmkt`n 7993 kmduats kan te` n`bcactcda db 79;9 odr` prdp`rtc`s.7) _duro`s8 Pacv`rscty db Mcoecfkas _urv`y W`s`kroe Oàt`r 7990, Koxcdm 7993, _tktcstcokl _urv`ys, P_ Oàsus 7992.

@xtàscv` Oustdm`r Yddl (7)

@L_ daly a``ns k smkll p`roàtkf` db tecsoustdm`r pddl td b``n cts r`vàu` str`kms

0.0%>.;

%

0;.>%

;0.9%

;>.2%

3.0%


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;6


_tky wcte @L_ k nky, k w``j, k y`kr, dr k lcb`tcm`


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;5


W`sdrt Edm`s

>2,999 sct`s (kpprdx. >,999 vkokat)

Mkrj`tcaf Cactcktcv`s

Oustdm`r r`b`rrkl prdfrkm

Cat`ra`t bdous`n mkrj`tcaf

W`atkl prdfrkm

^ecrn pkrty r`lktcdasecps

W`lktcdasecps wcte Mkaubkotur`rs

Dgtkca vklu` prco`n prdnuot tekt csk`ste`tcoklly pl`kscaf


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;3


WR W`sdrts (;)

Kaaukl/_`ksdakl _ct`s = ?9,999

^rkascàt _ct`s = 3,999

êduskan ^rkcls _ct`s = 7>,999

7>,999 sct`s: ;;?,999 m`mg`rs

Wdufely ;?,999 cmplc`n `xo`sssct`s (l`ss teka 0 td ; rktcd)

Canustry stkankrn rktcd = ;9 td ;

Adt`8;) @xolun`s hdcat vàtur` sct`s.


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WR W`sdrts

@xcstcaf Oustdm`r

Ldyklty r`wkrns prdfrkm ncsoduatskan r`s`rvktcda bl`xcgclcty

Odmmuacoktcda

G`fca multc-peks` r`lktcdasecp wcte

oustdm`r td caor`ks` ldyklty terdufeprdnuot dbb`rcafs

A`w Oustdm`r

Ncstrcgutcda Oekaa`ls

W`b`rrkls

Olugs

WR Wkllc`s

WR N`kl`rs

WR r`tkcl stdr`s

OkmpfrduanNcr`otdrc`s

Ldokl m`nckokmpkcfas

Cat`ra`t mkrj`tcaf


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7;

_ummkry


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_ummkry

V`ll ldokt`n r`kl `stkt`

Bkvdrkgl` oustdm`r n`mdfrkpecos

Kotcv` knults kan WR dwa`rs / Dutnddr àteuscksts

Yrdnuot Bl`xcgclcty

Dwa, Wàt, Bl`xcgl` Ps` dr Wcfet td Ps`

Dppdrtuacty td odatcau` td mkxcmcz` te` `xcstcaf êduskan ^rkcls bddtprcat

Dppdrtuacty bdr frdwte ca ncstrcgutcda oekaa`ls


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7?

Bcakaockls


24/29

7>


^dtkl Mkrj`t Okpctklczktcda

$?.> gcllcda$732 mcllcda^dtkl Mkrj`t Okpctklczktcda

--Pas`our`n Adt`s

$;.0 gcllcda$;9? mcllcdaMdrtfkf` Adt`s

$799 mcllcda-Yr`b`rr`n Pacts

$ ;.6 gcllcda (;)$;3? mcllcdaMkrj`t Okpctklczktcda

Adv. ?9, 7993CYD

Adt`8;) Ptclcz`s $>5.9; oldscaf stdoj prco` kt Adv`mg`r ?9, 7993, bully nclut`n.


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70


W@C^ Canustry _km` _tdr` ADC Frdwte

Adt`8_duro`8 Octc Cav`stm`at W`s`kroe, N`o`mg`r 7993.

-?.9%

-7.0%

-7.9%

-;.0%

-;.9%

-9.0%

9.9%

9.0%

;.9%

;.0%

7.9%

7.0%

?.9%

?.0%

>.9%

>.0%

0.9%

0.0%

2.9%

2.0%

6.9%

6.0%5.9%

5.0%

3.9%

3.0%

;9.9%

;[97

7[97

?[97

>[97

;[9?

7[9?

?[9?

>[9?

;[9>

7[9>

?[9>

>[9>

;[90

7[90

?[90

>[90

;[92

7[92

?[92

>[92

;[96

7[96

?[96

>[96

;[95

7[95

?[95

>[95

;[93

7[93

?[93

W@C Canustry @L_ Canustry Kv rkf - 7.2% @L_ Kv rkf` - >.9%


26/29

72


^rkoj Wòdrn

662%^dtkl W`tura (>)

$72.;3Ncvcnàn Ykcn Oumulktcv` (?)

$>5.9;$;7.55_tdoj Yrco` Y`rbdrmkao` (7)

$?.>0$;.;;BBD Y`r _ekr` (;)

7993;33?

Adt`s8

;) _`` pkf` 73 bdr n`bcactcda db BBD. 7993 kmduat cs te` mcn-pdcat db te` `stcmkt`n 7993 BBD p`r sekr` ncsolds`n ca te` Dotdg`r 79, 7993 pr`ss r`l`ks`.7) ê` ;33? stdoj prco` cs splct-knhust`n: te` 7993 prco` cs te` oldscaf prco` ks db Adv`mg`r ?9, 7993.?) _duro`8 _AL Bcakaockl. Caolun`s ncvcnàns pkcn brdm CYD terdufe ;;/?9/7993.

>) _duro`8 _AL Bcakaockl brdm CYD terdufe ;;/?9/7993 (okloulktcda kssum`s ncvcnàn r`cav`stmàt).


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79;9 Gunf`t KssumptcdasCaodm` Brdm Yrdp`rty Dp`rktcdas (Ca Mcllcdas)

TTTTTTTTTTT

TTTTTTTTTT

==========

;.9 7.9%723.9Caodm` brdm Yrdp`rty Dp`rktcdas

;.9%(770.9)Yrdp`rty Dp`rktcaf @xpàs`s (>)

;.9 ;.0%$>3>.9Yrdp`rty Dp`rktcaf W`vàu`s (?)

>6.9Ptclcty kan Dte`r Caodm`

;7;.0

0;.9

7;.9

W`sdrt Gks` Wàtkl Caodm`

Wcfet td Ps` Kaaukl Ykymàts

Wcfet td Ps` Odatrkots (?)

$70?.0Odmmuacty Gks` Wàtkl Caodm`

79;9 Frdwte Bkotdr (7)7993 (;)

Yrdp`rty Dp`rktcdas (`xoluncafYrdp`rty mkakf`màt)8

Adt`s8

;) Odmpkays `stcmkt` db te` 7993 caodm` brdm prdp`rty dp`rktcdas bdr te` 79;9 odr` prdp`rtc`s. 79;9 Odr` prdp`rtc`s caolun` prdp`rtc`s w` `xpòt td dwa kan dp`rkt` nurcaf kll db 7993 kan 79;9.7) Odmpkays `stcmkt` db te` frdwte db te` 79;9 Odr` ca 79;9 odmpkr`n td `stcmkt`n 7993 p`rbdrmkao`.

?) @xolun`s te` FKKY n`b`rrkl db te` 7993 rcfet td us` odatrkot skl`s kan te` kmdrt czktcda db prcdr p`rcdn skl`s.>) @xolun`s te` FKKY n`b`rrkl db te` 7993 odmmcsscdas da rcfet td us` odatrkot skl`s kan te` kmdrtczktcda db prcdr p`rcdn odmmcsscdas.


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79;9 Gunf`t_`lòt`n Bcakaockl Nktk (Ca Mcllcdas: `xo`pt p`r sekr` nktk)

Adt`s8

;) Gks`n da Odmpkays `stcmkt`.7) @xolun`s prdp`rty mkakf`màt `xpàs`s kan `xolun`s te` FKKY n`b`rrkls db rcfet td us` odatrkot skl`s kan r`lkt`n odmmcsscdas.

?) _`` pkf` 73 bdr n`bcactcda db BBD.>) Nu` td te` uao`rtkca tcmcaf kan `xtàt db rcfet td us` skl`s kan te` r`sultcaf n`b`rrkls, kotukl caodm` oduln ncbb`r mkt`rcklly brdm `xpòt`n a`t caodm`.

79;9 Gunf`t (;)

$76?7

(00)

;;

(;96)

;7>

(23)

(;7)

(2)

?6

$;.;7 - $;.?7

$?.?3 - $?.03

?0.0

Caodm` brdm Yrdp`rty Dp`rktcdas 79;9 Odr`(7)

Caodm` brdm Yrdp`rty Dp`rktcdas Ada-Odr` (7)

Yrdp`rty Mkakf`màt kan odrpdrkt` fà`rkl kan knmcacstrktcv` `xpàs`s

Dte`r Caodm` kan @xpàs`s

Bcakaocaf Odsts kan Dte`r

Buans brdm Dp`rktcdas (BBD) (?)

N`pròcktcda da W`kl @stkt` kan Dte`r

N`b`rrkl db rcfet-td-us` odatrkot skl`s r`vàu` kan odmmcsscda, a`t (>)

Caodm` Klldokt`n td Odmmda DY Pacts

A`t Caodm` Kvkclkgl` td Odmmda _ekr`s (>)

A`t Caodm` Y`r Odmmda _ekr Bully Nclut`n

BBD Y`r _ekr` Bully Nclut`n

V`cfet`n Kv`rkf` Bully Nclut`n _ekr`s Dutstkancaf


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Documents

ELS Equity Lifestyle Properties Dec 2009 Presentation