PowerPoint Presentation - dream.ca · * The decrease in Toronto –Suburban occupancy was largely...
41
1 1
Transcript of PowerPoint Presentation - dream.ca · * The decrease in Toronto –Suburban occupancy was largely...
1
1
2
3
4
o
o
o
o
o
o
o
o
o
5
6
7
8
-
2,000,000
4,000,000
6,000,000
8,000,000
1 0,000,000
1 2,000,000
2015 2016 2017 2018 2019 2020+
Expiries of tenants > 1 00k sf Expiries of tenants < 1 00k sf
*
GLA
(sf
)
We have commitments in place for ~53% of our 2016 lease maturities.
9
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
2015 2016 2017 2018 2019 2020+
Calgary Downtown Calgary Suburban Edmonton Downtown Edmonton Suburban
* - net of commitments
10
86%
88%
90%
92%
94%
96%
98%
100%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Q3/15
Net Absorption1.4 M sq. ft.
Development Pipeline
22.3 M sq. ft.
* The decrease in Toronto – Suburban occupancy was largely due to the previously known departure of Winners Merchants International at 6655 Airport Road. Excluding this, occupancy would have been 89.0%.
11
12
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
$4,000
$4,500
$5,000
$5,500
$6,000
$6,500
$7,000
$7,500
$8,000
Dec-03 Dec-04 Dec-05 Dec-06 Aug-07 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Sep-15
Book Value
13
Downtown Toronto
•
•
Scotia Plaza
Adelaide Place
36 Toronto Street
10 King Street E 80 Richmond St W
14
12
3
4
5
6
7
25
16
18
8
26
1320
9
12
10
17
14
22
2411
2123
19
15
15
16
Suburb?
•
•
•
Suburb?
17
•
•
18
Calgary CBD
441 5th AvenueAtrium II Life Plaza
McFarlane Tower Northland Building
•
19
20
21
4.0%
4.3%
4.4%
3.9%
3.3%
4.0%
5.2%
4.2%
4.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
0
100
200
300
400
500
600
700
800
2015 2016 2017 2018 2019 2020 2021 2022 2023+
Unsecured Secured Weighted Average Face Rate
22
Price as of November 30, 2015
Source: SNL Financial (Consensus data used for AFFO, NAV, NAV Cap estimates), BMO Capital Markets
23
24
25
26
27
Case Study
Suburban Modernization
Sussex Centre
28
Case Study
Suburban Modernization
Sussex Centre
29
Case Study
Suburban Modernization
Sussex Centre
30
Case Study
Suburban Modernization
Sussex Centre
31
Case Study
Suburban Modernization
Sussex Centre
32
33
•
•
•
•
34
35
36
37
•
•
•
•
•
38
•
•
•
•
•
•
39
41
