2022 First Quarter Investor Presentation
2022 first quarter investor presentation
volume ($MM)
investment activity & portfolio management
gross acquisitions
NNNN proceeds from dispositions
$600
$500
$400
537
436
393
395
364
$300
$200
$100
$0
TH
315
264
513
486
412
341
271
251
135
137
111
87
100
85
38
45
40
35
99
56
19
8
Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022
acquisitions¹:
# of properties
# of new customers
83
79
85
103
57
21
52
84
66
95
75
100
111
15
16
15
19
9
9
10
13
10
9
18
19
number of transactions
44
36
29
43
21
18
23
40
24
37
24
51
39
average transaction size ($MM)
$8.9
$10.1
$13.6
$12.5
$12.6
$7.5
$10.9
$10.9
$11.3
$9.2
$17.2
$9.5
$13.1
initial cap rate
7.8%
7.9%
7.7%
7.7%
7.5%
8.7%
8.3%
8.1%
7.8%
7.8%
7.4%
7.2%
7.1%
lease escalation
1.9%
1.9%
1.9%
1.8%
2.5%
1.8%
1.9%
1.7%
1.9%
1.9%
1.8%
1.9%
1.8%
weighted avg. lease term (years)
17
18
17
17
16
17
18
18
18
17
16
17
17
STORE
capital
dispositions¹:
# nonperforming properties²
2
8
5
6
10
7
12
19
6
9
9
3
proceeds - nonperforming ($MM)
$5.7
$30.7
$5.6
$7.8
$25.4
$21.0
$11.7
$12.7
$19.6
$27.1
$26.7
$9.0
# performing properties
2
22
46
10
3
6
11
22
25
16
12
8
-
proceeds performing ($MM)
$2.1
$87.4
$284.1
$32.0
$11.1
$19.5
$19.3
$99.4
$124.8
$15.4
$73.1
$58.4
$47.3
8
cap rate performing
7.1%
7.5%
7.4%
7.5%
7.0%
7.8%
7.0%
7.0%
7.8%
6.1%
6.7%
6.6%
7.0%View entire presentation