18 October 2016
18 October 2016
REITs
US REIT 3016 Earnings Preview
[Figure 61: KIM 3016 results preview
NM
WNW
FFO'sn
FFOIsh as adjusted
Oporeim Mills
lotal leasing volume (pro-rate. signed,
New leasing oolume who • nOrsiOmP. OrOrate signed/
Renewal leasing volume Iporata signed.
Total occuomm momta, mined
sYcl ch
Me ch
Blended SS US rent spread leash prorate. mined)
SS US new lease spread leash, pro-rata. signe0,
SS US renewal spread lush prorate mom.
US 5$ NOI grtnyth yea 'Cash PrOrata. incl redeye,
Note' consensus 030118tOS are based on Thomson compiled data as of 10,4/16
• Update on Sports Authority exposure with previously commentary of 22 remaining boxes to release as of 2Q 3011 COM
MIS Moat
50 .40 50 .38
SO 36 $0 37
Ada MUNI
1 898 1 256
604 532
1 294 724
9540% 9590%
-10bp 50bp
1000 4000
106% 16.2%
28.6% 29.8%
62% 107%
24% 3 I % 9011
ACtal DIM
SO 17
S0 38 Cos
$0 18
9560%
-30to
2000
5 0% commenced 2011
Pm XI WS Pat MUMS DU Com
5 1 34-S1 42 SI 38 SI 38
SI 48.51 62 SI 50
Pro 10 Gals Post 30 GUM DIM
96 85%
45bo
8 4% commenced
2 516-3 5%
• Commentary regarding investment market conditions - demand, buye make up, cap rate trends. KIM has
disposed of -$920M YTD (2016 guidance of 51-1.158) at share and acquired $452MM (2016 guidance of S450-
$550M)
Update on conditions in Puerto Rico (-3% of ABR) with previous commentary of sales volume and traffic
holding up.
• Albertson update
Update on -$900M active re/development pipeline with expected incremental returns of 8.13% and
opportunities to backfill
• Talk about the potential redevelopment opportunity at recent Gateway Shopping Center acquisition in the
Seattle metro
• Thoughts on Amazon's continued push into grocery
SOU r it path?* BOA, co-werrame Marts»
Page 32 Deutsche Bank Securities Inc.
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0092252
CONFIDENTIAL SDNY_GM_00238436
EFTA01388604