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www.centurionreit.com
Centurion Asset Management
Income, Stability & Growth
RESPECT INTEGRITY SIMPLICITY EXCELLENCE
Based in Toronto, Centurion Asset Management Inc. is a Canadian company that owns andmanages approximately $1B in total assets.
• Multi-Residential Apartments & Student Housing
• Mortgage investments and growth oriented real estate investments
• Property management
www.centurionreit.com2
Who We Are
RESPECT INTEGRITY SIMPLICITY EXCELLENCE
Private vs. Public REIT
Differences between Public and Private REITs
Publicly-Traded REIT:
� Trade on a public stock exchange (provide daily liquidity)
� Trading daily also means investors can potentially push price up or down, reflecting current market sentiment, regardless of actual market value of the asset
� Increased reporting costs due to requirements of a public listing
� History of more volatile pricing
� Tend to be more highly correlated to equity markets. Example during 2008 financial crisis:
S&P/TSX Capped REIT Index TR*: -38.3% S&P/TSX*: -33.0%
Private REIT:
� Not traded on a public stock exchange (generally offer 30-day liquidity)
� Value is based on the value of underlying real estate or equity / lending rate (not a “market-traded” price)
� No additional reporting costs related to a public listing
� Rational pricing with lower volatility
� Tend to be far less correlated to major equity markets
2008: Non Listed Property Ownership**: +3.7%Non Listed Apartment Property**: +6.4%
The two categories of REITs in Canada are publicly traded REITs and private REITs.
* Source: Bloomberg
** Source IPD (2008 Edition); Note: Non listed property ownership is similar to a Private REIT
www.centurionreit.com3
RESPECT INTEGRITY SIMPLICITY EXCELLENCE
Investors’ Needs and Challenges
Important considerations for many investors
� Diversification
� Steady monthly distributions
� Moderate growth
� Tax-advantaged income
� Capital preservation
www.centurionreit.com4
RESPECT INTEGRITY SIMPLICITY EXCELLENCE
Centurion Apartment REIT always looks for opportunities using a strict due diligence process concentrates on communities with low vacancy levels and growing population demographics.
There are three primary strategies employed by Centurion:
� Purchase undervalued properties with untapped potential, low vacancy and stable tenant base.
� Invests in newer, stabilized buildings, in desirable neighbourhoods.
� Centurion Apartment REIT leverages its strategic relationship with Centurion Real Estate
Opportunities Trust to proactively create a pipeline of new investment opportunities.
Investment Strategy
www.centurionreit.com5
RESPECT INTEGRITY SIMPLICITY EXCELLENCE
Performance: Centurion Apartment REIT
REITs are not guaranteed, their values can change frequently and past performance is no guarantee of future results. PAST PERFORMANCE MAY NOT BE REPEATED.
Calendar Returns (%) 2009(10) 2010 2011 2012 2013 2014Compounded Returns (%)
YTD-2015 2-Year 3-Year 5-Year
Since Inception
Centurion REIT TR
(%) 2.8 8.5 10.2 20.0 11.0 9.2 Centurion REITTR (%) 4.3 8.7 10.0 11.7 11.3
www.centurionreit.com6
$18,640
June 30, 2015
10,000
12,000
14,000
16,000
18,000
20,000
Jun-09 Dec-09 Jun-10 Dec-10 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15
Growth of $10,000 invested in Centurion REIT (since inception of REIT August 31, 2009)9
$10,000 Invested
RESPECT INTEGRITY SIMPLICITY EXCELLENCE
Centurion Real Estate Opportunities Trust
www.centurionreit.com7
The Centurion Real Estate Opportunities Trust (Centurion REOT) is an income & capitalgrowth oriented investment trust that invests in a diversified portfolio of mortgages andopportunistic real estate developments.
1) Income: Mortgage Investments
2) Capital Growth: Growth Oriented Real Estate Opportunities
a) Multi-residential apartment developments
b) Student housing developments
Growth Oriented Investments
(Capital Growth)
Goal: Portfolio BalanceMortgages(Income)
RESPECT INTEGRITY SIMPLICITY EXCELLENCE
Delivering Value to Investors
www.centurionreit.com8
Transaction
Project Details
� 100 Units in Western Canada � Single 6 Storey Apartment Building with
Ground Floor Retail� Surface & Underground Parking
Loan Structure
� $21.7M construction cost� 1st Mortgage: $16.3M funded by a third party lender � 2nd Mortgage: $2.5M funded by Centurion � Equity Financing: $3M in total, (2/3 or $2M funded by Centurion)� Mortgage Loan Interest Rate: 11%� Preferred Return to Centurion REOT: 10% with a 50/50 split of profits beyond the 10%
between the developer and Centurion REOT. � Right of First Refusal to acquire the development project upon completion.
RESPECT INTEGRITY SIMPLICITY EXCELLENCE
Summary
REOT
� Generates monthly income� Potential for growth� Has a focus on capital preservation� Diversifies investor’s portfolio� Centurion’s experience, expertise,
infrastructure and financial resources leadsto an End-to-End Real Estate Solution
REIT
� Generates monthly income� Has a potential for growth� Has a focus on capital preservation� Is tax efficient1
� Diversifies investor’s portfolio� Provides re-investment options
www.centurionreit.com9
RESPECT INTEGRITY SIMPLICITY EXCELLENCE
Thank You
www.centurionreit.com10