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INVESTOR DAY 2018 PROPERTY TOUR
April 18, 2018
2
CANADA’S MAJOR MARKET PORTFOLIO• High quality, necessity based retail, and increasingly mixed-use major markets portfolio
• Diversified, strong national tenant base
• Significant upside on rent growth
• Base for significant NAV growth – tremendous intrinsic value to be unlocked
• Strong executive bench with wealth of experience and proven track record
• Focusing on transit-
oriented urban
intensification in major
markets
• Mostly mixed-use with
residential rental
and/or condo
development
• Strategic alliances to
mitigate risk and
create steady fee
stream
• Robust and growing
pipeline of well located
sites with substantial
zoning approved
UNLOCKING INTRINSIC VALUE
STRATEGIC ACQUISITIONS
• Acquire only the best
locations in the six
major markets
• Opportunities to
acquire partners’
interests in today’s
tight market
• Highly selective
acquisitions of
development sites,
leveraging existing
properties
DRIVING ORGANIC GROWTH
• Evolving tenant mix
and revenue growth
• Improving operating
efficiency and cost
structure
• Redeveloping prime
assets
• Optimize pads by
adding additional
GLA
• Drive ancillary
revenues
• Continuous portfolio
pruning
• Low leverage
• Low cost of debt
• Laddered debt
maturity and mostly
fixed rate
• Access to multiple
sources of capital
• Large
unencumbered
assets pool
generating 56.7% of
annualized NOI
STRONG BALANCE SHEET
VALUE PROPOSITION AND FOUR STRATEGIC PILLARSREAL VISION, SOLID GROUND
3
LEADERSHIP TEAM
Ed Sonshine
O.Ont., Q.C.
Founder and CEO
John Ballantyne,
SVP Asset
Management
24 years in Real Estate
Jeff Ross,
SVP Leasing & Tenant
Coordination
30 years in Real Estate
Andrew Duncan
SVP Developments
18 years in
Development, 12 years
in Real Estate
Rags Davloor,
President and COO
25 years in Real Estate,
Operations & Finance
Qi Tang,
SVP and CFO
20 years in
Finance
& Real Estate
Jonathan Gitlin,
SVP Investments &
Residential
18 years in Real Estate
Danny Kissoon
SVP Operations
32 years in Real
Estate
Jennifer Suess
SVP General Counsel
& Corporate Secretary
16 years in Law with a
focus on Real Estate
• Strong executive bench
with a wealth of
experience and proven
track record
• Fully integrated REIT
with all disciplines in-
house including:o Investments
o Leasing
o Asset Management
o Development &
Construction
o Property Management
o Finance, Legal and
Human Resources
• Trusted and respected,
with deep industry
knowledge and
relationships
EXPERIENCE, INTEGRITY AND FORESIGHT
4
PROPERTY TOUR PROPERTIESINDUSTRY LEADING PRESENCE IN THE TORONTO CORE
Property Name
1 RioCan Hall
2 The Well
3 King Portland Centre (Kingly)
4 Shoppes on Queen West
5 Bathurst College Centre
6 College Ave. & Manning Ave. (Strada)
7 491 College St.
8 740 Dupont Ave. (Litho.)
9 Yonge Eglinton Centre
10Northeast Corner Yonge Eglinton
(ePlace and eCentral)
11 Sunnybrook Plaza
12 RioCan Leaside
13 Shops on Summerhill
14 Yorkville
5
GREATER TORONTO AREA (GTA) FOCUSTOUR AGENDA
Tour
StopName RioCan Interest
NLA SF ‘000s
on
Completion
(100%)
Development
Completion% Leased/
PreleasedPage
1 RioCan Hall 100% TBD TBD 100% 6
2 The Well50% - Commercial
40% - Residential Air Rights
50%- Building 6
2,938Commercial - 2021
Building 6 – 2023N/A 7
3 King Portland Centre (Kingly) 50% 425 2018/2019 94% 10
4 Shoppes on Queen West 100% 89 2011 100% 12
5 Bathurst College Centre 100% 139 2019 79% 13
6College Ave. & Manning Ave.
(Strada)50% 113 2021 79% 14
7 491 College St. 50% 24 2018 63% 15
8 740 Dupont Ave. (Litho.) 50% 181 2021 13% 16
9 Yonge Eglinton Centre 100% 1,059 2016 (expansion) 99.3% 18
10Northeast Corner Yonge
Eglinton (ePlace and eCentral)50%* 707 2018/2019 31% 19
11 Sunnybrook Plaza 50% 316 2023 84.5% (current) 20
12 RioCan Leaside 100% 1,307 TBD 100% 21
13 Shops on Summerhill 75% TBD TBD 100% 22
14 Yorkville 50% ~500 TBD N/A 23
PRIME DOWNTOWN LOCATION
6
Proposed
RIOCAN HALL
TORONTO ON
Location: Prime location in the heart of
the entertainment district in Toronto’s
Downtown corridor
Intersection: Richmond St. and John St.
NLA: 227,326 sf
Ownership: 100%
Major Tenants
• Cineplex
• Michaels
• Marshalls
• Goodlife Fitness
Potential for future intensification
considering the prime location in
downtown Toronto
Proposed
UNPARALLELED GTA ASSETS
Demographics in 5km radius:
• Population: 526k
• Average household income: $118k+
MIXED-USE DEVELOPMENT
7
Proposed
THE WELL TORONTO, ON
UNPARALLELED GTA ASSETS
MIXED-USE DEVELOPMENT
8
Proposed
• Demographics 5KM radius:
• Population: 485k
• Average household income: $114k+
• Innovative, amenity rich design including a European inspired
food hall
• Office is targeted LEED platinum
• Teaming with Enwave for the first low-carbon resilient cooling
and heating option for the property and surrounding community
THE WELL,
TORONTO, ON
Location: 7.7 acre site situated at the gateway to
downtown Toronto, at Front and Spadina. Transit
oriented adjacent to the site of a proposed intercity
GO Train stop.
Ownership Structure:
Commercial: 50% (J.V. with Allied Properties REIT
Residential: 40% (J.V. Allied Properties REIT and
WNUF2*)
Residential Building 6: 50%
(J.V. with Woodbourne )
Property Type: Mixed-use with 500,000 sf retail,
1.1 M sf office and ~1,800 residential units (condo
and rental) at 100%
Zoning Status: Zoned
Estimated PUD Costs (RioCan’s interest):
$675 M, Residential Building 6 - $129 M
Estimated project completion:
Commercial - 2021, Residential Building 6 - 2023
*WNUF2 holds a 20% interest in the residential portion until the sale of air rights to Tridel and Woodbourne upon completion of the underground and podium structures .
UNPARALLELED GTA ASSETS
MIXED-USE DEVELOPMENT
9
Proposed
THE WELL,
TORONTO ON
Surfacing Value
• RioCan and its partners acquired the
former Globe and Mail head office and
surrounding land for $170 million in 2012
and 2013
• Agreement in place to sell 1.1M sf of air
rights to residential developers Tridel and
Woodbourne for approximately $180 million
upon completion of the underground and
podium structures
• Upon completion, an estimated 10,000
people will live and work at the property
• A comprehensive signage master plan
agreement has been approved by the city.
Interior and exterior digital signage will
generate significant ancillary revenue
Proposed
UNPARALLELED GTA ASSETS
UNPARALLELED GTA ASSETSRESIDENTIAL INTENSIFICATION
Location: A 1.5 acre site in Toronto’s trendy
downtown west with direct access to transit
Property Type: Mixed-use with office, retail and
condominiums
Leasing/Sales: 134 condominium units fully sold out
ahead of price expectations. New office 256,000 sf
(at 100%) 100% leased to Shopify and Indigo: retail
all but 7,000 sf leased. Existing 55,000 sf of office
space adjacent to the building is 100% leased with
substantial rent upside upon project completion
Ownership: 50% (JV with Allied Properties REIT)
Incremental Commercial NLA: 166,000 sf at
RioCan’s Interest
Zoning/Status: Zoned
Estimated PUD Costs (at RioCan’s Interest):
$82.4 M
Estimated Project Completion: 2018/2019
KING PORTLAND CENTRE,
TORONTO, ON
10
Proposed
• Demographics in 5km radius:
• Population: 823k
• Average household income: $115k+
• Office tower is targeted LEED platinum
UNPARALLELED GTA ASSETSRESIDENTIAL INTENSIFICATION
KING PORTLAND CENTRE (KINGLY)
TORONTO, ON
11
Proposed
UNPARALLELED GTA ASSETSRESIDENTIAL INTENSIFICATION
Location: Prime location in Toronto’s
trendy Queen west with direct access to
transit
Property Type: Mixed-use with three
floors of retail and 90 condominium units
Leasing: Retail component is 100%
occupied.
NLA: 89,419 sf
Major Tenants – Loblaws, Winners, Bank
of Montreal
Ownership: 100%
NLA: 89,400 sf
Completed: 2011
SHOPPES ON QUEEN
TORONTO, ON
12
ProposedDemographics in 5km radius:
• Population: 823k
• Average household income: $115k+
MIXED-USE DEVELOPMENT
13
Proposed
BATHURST COLLEGE
CENTRE, TORONTO
Location: A 1.3 acre site situated in the
western downtown corridor in Toronto, at
Bathurst Street and College Avenue. Directly
across street from Toronto General Hospital
Ownership Structure: 100%
Property Type: 139,000 sf mixed-use office
and retail
Leasing status: 79% pre-leased
Tenants: UHN, Winners, Sobeys, Bank of
Nova Scotia
Zoning/Status: Zoned
Estimated PUD Costs: $107.4 M
Estimated project completion: 2019
Proposed
UNPARALLELED GTA ASSETS
Demographics in 5km radius:
• Population: 590k
• Average household income: $117k+
UNPARALLELED GTA ASSETSRESIDENTIAL INTENSIFICATION
Location: Prime 0.5 acre site located in Toronto’s “Little
Italy” district with direct access to transit
Property Type: Mixed-use, office, retail and rental
residential
Leasing (Commercial Component): 79%
Ownership: 50% (JV with Allied Properties REIT)
Incremental Commercial NLA: 56,000 sf at RioCan’s
Interest (113,000 sf at 100%)
Zoning Status: Zoned
Estimated PUD Costs (at RioCan’s Interest): $30.6 M
Project Start / Anticipated Completion: 2018/ Late 2021
COLLEGE & MANNING (STRADA),
TORONTO, ON
14
Proposed
Demographics in 5km radius:
• Population: 594k
• Average household income: $117k+
UNPARALLELED GTA ASSETSMIXED-USE DEVELOPMENT
Location: Prime site located in Toronto’s
“Little Italy”
Property Type: Mixed-use, office, retail
Leasing: 63%
Major Tenants: LCBO
Ownership: 50% (JV with Allied Properties
REIT)
Commercial NLA: 12,000 sf at RioCan’s
Interest (24,000 sf at 100%)
Estimated PUD Costs (at RioCan’s
Interest): $12.0 M
Anticipated Completion: 2018
491 COLLEGE STREET WEST
TORONTO, ON
15
Proposed
Demographics in 5km radius:
• Population: 597k
• Average household income: $117k+
Demographics in 5km radius:
• Population: ~700k
• Average household income: ~ $120k
16
UNPARALLELED GTA ASSETSRESIDENTIAL INTENSIFICATION
740 DUPONT AVE. (LITHO.),TORONTO, ON
Location: Toronto, Ontario
Property Type: Located on a 1.4 acre site, this mixed-
use retail and residential containing 9-storey project with
210 rental units and 31,000 square feet of retail
GLA. Firm lease with Farm Boy (23,000sf) to anchor the
retail portion of the site.
Ownership: 50% (JV with Woodbourne)
Project Start / Anticipated Completion: 2017 / 2021
Zoning status: Zoned
Estimated PUD Cost (at RioCan’s interest): $70.2 M
Surfacing Value
• Site was acquired in 2010, formerly occupied by Grand
Touring automobile until November 2017
• Well located along a busy thoroughfare in a densely
populated area of Toronto. A short walk to the Bloor-
Danforth subway line
Proposed
17
UNPARALLELED GTA ASSETSRESIDENTIAL INTENSIFICATION
740 DUPONT AVE. (LITHO.),TORONTO, ON
Proposed
UNPARALLELED GTA ASSETSSTRATEGIC REDEVELOPMENT
RIOCAN YONGE EGLINTON CENTRE, TORONTO
18
Intersection: Yonge St. and Eglinton Ave. East
Ownership: 100%
Total GLA: 1,056,285 sf
Property Concept: Mixed-use
Project Completion: 2016
Surfacing Value:
• Purchase Price (2007): $223 million
• Capital Invested: $110 million
• Current Value: $574 million
• NOI at acquisition: $13 million
• Value Stabilized NOI: $26 million
73% increase in value over costs
• Strategically evolved building aesthetics and
tenant mix to meet consumer needs
• Incremental revenue through leasing of the
digital screens on the building interior and
exterior
19
UNPARALLELED GTA ASSETSRESIDENTIAL INTENSIFICATION
YONGE & EGLINTON NORTHEAST CORNER (eCentral at ePlace) TORONTO, ON
Location: A 3.2 acre site at the heart of one of Toronto’s
busiest and most popular intersections. Unparalled access to
the Yonge subway and new Eglinton Crosstown LRT
Property Type: Mixed-use with retail, residential tower with
466 units and condominium tower with 623 units
Ownership: 50% (JV with Metropia and Bazis)
Leasing/Sales: All 623 condominium units have been pre-
sold. Retail is 82% leased (anchored by TD Bank)
Rental Residential Units: 466 Units
Zoning Status: Zoned
Anticipated Completion: 2018 & 2019
Surfacing Value
• Agreement in place to acquire the partners’ 50% interest in
the 466 unit rental residential tower at cost plus $10M
• Agreement in place to acquire partner’s 50% interest in the
retail NLA at a 7% capitalization rate upon completion of the
project
Demographics in 5km radius:
• Population: 495k
• Average household income: $156k+
Proposed
RESIDENTIAL INTENSIFICATION
SUNNYBROOK PLAZA,TORONTO, ON
20
Location: A 2.3 acre site located on new Eglinton LRT in an
affluent neighbourhood in midtown Toronto
Ownership: 50% (JV with Concert Properties)
Property Type: Mixed-use with one 16 storey and one 11
storey rental residential towers (approx. 427 units)
Commercial NLA: 22,000 sf at RioCan’s Interest
Project Start / Anticipated Completion: 2020/2023
Surfacing Value:
• RioCan acquired the centre in 2007 for $22.8 million (100%)
• Concert paid RioCan $26.3 million in June 2017 for a 50%
interest in the development
• More than doubled the value in ten years, before significant
value creation upon this project’s completion
Proposed
Demographics in 5km radius:
• Population: 450k
• Average household income: $164k+
UNPARALLELED GTA ASSETS
RESIDENTIAL INTENSIFICATION
RIOCAN LEASIDE CENTRE,TORONTO, ON
21
Location: Approximately 8.8 acre site located on new
Eglinton LRT in an affluent neighbourhood in midtown
Toronto
Ownership: 100%
Property Type: Mixed-use – Retail, office and
residential
Project Start / Anticipated Completion: TBD
Surfacing Value:
• There is significant value to be unlocked at the site
through the conversion of the current 133,000
square feet of retail into approximately 1.3 million
square feet of retail, office and residential uses
(1,400+ units)
• The site currently contemplates the inclusion of a
community centre and public space
ProposedDemographics in 5km radius:
• Population: 450k
• Average household income: $164k+
UNPARALLELED GTA ASSETS
22
UNPARALLELED GTA ASSETSPOTENTIAL RESIDENTIAL INTENSIFICATION
THE SHOPS OF SUMMERHILLTORONTO, ON
Location: Located in the heart of the affluent
neighbourhood of Summerhill in a heritage site
near the Summerhill Subway station.
Intersection: Yonge St. and Summerhill
Property Type: Retail
Occupancy: 100%
Ownership: 100%
Tenants: Terroni, Harvest Wagon
Surfacing Value
Site acquired in 2015, and we are in the
application stages to intensify the site with
residential uses.
Proposed
Demographics in 5 km radius:
• Population: 714k
• Average household income: $129k+
UNPARALLELED GTA ASSETS
YORKVILLE, TORONTO, ON
Location: Transit oriented and in the heart of prestigious Yorkville, one of
Toronto’s most high-end shopping and residential areas.
Property Type: Mixed-use with potential for 0.5M sf of luxury
condominium and retail uses and up to 82 rental units
Ownership: 50/25/25 joint venture among RioCan, Metropia and Capital
Developments
Zoning Status: Zoning Bylaw Amendment submitted April 2018
Surfacing Value:
• As of February 2018 the partners have completed acquisitions of
adjacent properties substantially required for the intensification
project
• RioCan has agreed to purchase the partners’ interest in the retail
portion upon completion at a 6% cap rate and has the right of first
opportunity to acquire the residential rental units
23
Demographics in 5 km radius:
• Population: 683k
• Average household income: $123k+
MIXED-USE DEVELOPMENT