EX-99.1 2 nt10020566x7_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1
Investor Presentation Q1 2021

Disclosure Slide These materials are provided for informational purposes only, and under no circumstances may any information contained herein be construed as investment advice or as an offer to sell or a solicitation of an offer to buy an interest in any Modiv program or offering. Alternative investments, such as an investment in Modiv or any Modiv program or offering, are speculative and involve substantial risks, including illiquidity and complete loss of invested capital, and there are no guarantees that assets will appreciate in value or that dividends will be paid. Such investments may not be suitable for all investors. Forward-Looking StatementsCertain statements contained herein, other than historical facts, may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We intend for all such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act, Section 21E of the Exchange Act and other applicable law. Such statements include, in particular, statements about being a tech-enabled asset manager, durable cashflow income, long-term growth potential, innovation, potential lease extensions, expenses related to operating a public company, value appreciation, rent collections, durability of our real estate portfolio, estimated net asset value, and market and portfolio outlook including new investment opportunities. Therefore, such statements are not guarantees of future results and are subject to risks, uncertainties and other factors, some of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Accordingly, we make no representation or warranty, express or implied, about the accuracy of any such forward-looking statements contained hereunder. Except as otherwise required by federal securities laws, we undertake no obligation to update or revise any forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results, whether as a result of new information, future events or otherwise.Modiv Inc. is not affiliated with, associated with, or a sponsor of any of the businesses pictured or mentioned. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies.

Multiple Levers of Value Creation Investment ManagerManager of alternative real estate products to provide revenue to Modiv and increase franchise value Crowdfunding PlatformFintech platform magnifies access to investors and offers scalable and economical capital raise capabilities Growth Income + Growth Venture Capital InvestmentsProptech and fintech related venture capital investments designed to create meaningful capital appreciation Growth Income + Growth Real EstateInvestmentsPortfolio of income producing assets provides durable cash flow and long-term upside potential Within a single ownership structure, Modiv provides individual investors access to a tech-enabled real estate asset manager with long-term growth potential driven by innovation and investor alignment.

Modiv by the Numbers 38commercial properties 12retail 14office 12industrial $400+ millionassets under management 7,500+investors 2.3 millionSF of leasable space 4 venture capitalinvestments $0fees2 $35.8M dividendspaid since inception1 1. Total distributions for Modiv’s Class C and S shares combined from inception through 3/31/21.2. Modiv charges no fees, although certain expenses related to operating a public company apply. As of March 31, 2021

Investments Overview

Durable Real Estate Portfolio Properties 38 Square Footage (msf) 2.3 Total Tenants 31 Annualized Base Rent ($m) $29.1 Top Ten Tenants (% of ABR) 55% Tenant Industries 13 Occupancy (%) 100% Cash Rent Collection (% of ABR) 100% Investment Grade-Rated1 (% of ABR) 67% Contractual Rent Bumps (% of ABR) 89% Average Lease Term Remaining (years) 5.4 Leverage (% of asset cost) 49% Weighted Average Interest Rate 4.3% Net Asset Value per share $24.61 Implied Cap Rate 7.5% Diversified by Geography, Property Type and Sector IndustrialOfficeRetail As of March 31, 2021 1. Investment grade rating on long-term debt is determined by a nationally recognized statistical rating agency.

Key Portfolio Metrics Top 5 Tenantsby Annual Base Rent 8.7% (S&P A+) 7.7% (NR) 7.7% (S&P A+) 5.3% (S&P AA-) 5.5% (NR) As of March 31, 2021 Modiv Inc. is not affiliated with, associated with, or a sponsor of any of the businesses pictured or mentioned. The names, logos and all related product and service names, design marks and slogans are the trademarks or service marks of their respective companies. 1. Investment grade rating on long-term debt is determined by a nationally recognized statistical rating agency. Lease DurationWeighted Average Lease Duration: 5.4 Years Industry Breakdown Property Type Investment Grade1

Quarterly Activity LeasingNotable lease extensions included five-year renewals with Northrop Grumman in Florida, and two Dollar Generals in Ohio. FinancingFour properties were re-financed totaling $12M with a weighted average rate of 3.4% and over five-years of average term to maturity.DispositionsAsset sales comprised three properties, EcoThrift and two Chevron’s, for gross proceeds of $13.7M. 1 2 3 Re-financed PMI Preclinical San Carlos, CA Asset sale EcoThrift Sacramento, CA Five-year lease renewals Dollar General Ohio Five-year lease renewal Northrop Grumman Melbourne, FL

Quarterly Estimated NAV 1. Estimated per share NAVs reflect the 1:3 reverse stock split effective February 1, 2021. $24.61Estimated NAV per shareAs of March 31, 2021 17%Increase since April 2020 Net Asset Value per Share (April 2020) $21.01 Real Estate ($0.28) Cash $0.62 Other Assets $0.01 Total Real Estate and Assets $21.36 Debt $1.82 Other Liabilities $0.37 Total Debt and Other Liabilities $2.19 Decrease in Shares $1.06 Net Asset Value per Share (March 2021) $24.61 NAV Analysis1 We posted a second consecutive NAV increase due in part to growing confidence in the post-pandemic market, while realizing upside from asset management initiatives and asset sales. As of 3/31/2020. Cushman and Wakefield independent appraisal. Raymond PaciniChief Financial Officer

Investment Overview As of March 31, 2021 Share Price (NAV) $24.61 Dividend1 $1.05/share Annualized Distribution Rate1 4.3% Shares Outstanding 8.7 mm Distributions Paid Since Inception1 $35.8 mm 1. There is no guarantee that distributions will be paid.

Quarterly Commentary

Since the onset of the pandemic, selected sectors of real estate have proven resilient. Our focus will remain on mission critical and operationally integral assets as we expand our portfolio. – David Collins, Chief Property Officer Market OutlookFederal Reserve policy and the continued availability of low-cost debt have supported property values and limited the amount of distressThe vaccine roll-out has accelerated plans for employees returning to the officeTraditional retail continued to re-invent itself as spending patterns shift to e-commerce, while necessity retail has proven to be durableThe real estate sector continues to embrace technologyPortfolio OutlookRent collections remain at 100% demonstrating the quality of our tenantsWe are actively working with tenants to extend leases; completed three extensions in 1Q21We are underwriting several new investment opportunities as we look to increase our allocation to industrial/flex R&D and essential retail1 Market & Portfolio Outlook 1. There is no guarantee that these transactions will be consummated. David CollinsChief Property Officer Mitchell GermainChief Capital Officer William BromsChief Investment Officer

Modiv Quarterly Update HighlightsCompleted name change to Modiv Inc. | 1:3 reverse stock splitPublished $24.61 NAV, ~7% increase from prior quarter | increase due to contractual rent increases, asset sales above stated value and broader market recoveryOpportunistic sale of three properties | ~5% above value held in most recent NAV and reduction in non-essential retailMaintained dividend policy for 2021 | ($1.05/share post-split)Introduced concept of a 13th dividend | at year-end, based on earnings resultsEstablished innovative partnership with Forge Trust Co. | providing Modiv investors with no-custodial-cost self-directed IRAs Modiv is looking to redefine and disrupt traditional real estate. Our focus is leveraging technology to create new investment products, while maintaining favorable shareholder alignment. Aaron HalfacreChief Executive Officer

Appendix

Executive Team & Board of Directors Name Title Years of Relevant Experience Ray Wirta Chairman 50 Aaron Halfacre Chief Executive Officer 25 Ray Pacini Chief Financial Officer 40 Bill Broms Chief Investment Officer 19 Mitchell Germain Chief Capital Officer 20 David Collins Chief Property Officer 35 Sandra Sciutto Chief Accounting Officer 33 John Raney Chief Legal Officer 12 Name Title Years of Experience Relevant Firm Ray Wirta Chairman 50 CBRE Irvine Company Aaron Halfacre Chief Executive Officer 25 Blackrock, Inc.Cole REIT Joe Hanauer Independent Director 50 Grubb & EllisPorch.com Adam Markman Independent Director 30 Equity CommonwealthGreen Street Adv. Curtis McWilliams Independent Director 40 Merrill Lynch Truststreet Prop. Thomas Nolan Independent Director 40 Spirit Realty Capital WashREIT Jeffrey Randolph Independent Director 40 Morgan Stanley Executive Team Board of Directors

Investments Property City, State Product Type Sq.Ft. Investment Grade1 Purchase Date 3M DeKalb, IL Industrial 410,400 Y 3/29/2018 Accredo Health Orlando, FL Office 63,000 Y 6/15/2016 Amec Foster Wheeler San Diego, CA Industrial 37,449 N 7/20/2016 AvAir Chandler, AZ Industrial 162,714 N 12/28/2017 Bon Secours Health System Richmond, VA Office 72,890 Y 10/31/2018 Costco Wholesale Issaquah, WA Office 97,191 Y 12/20/2018 Cummins, Inc. Nashville, TN Office 87,230 Y 4/4/2018 Dana Incorporated Leander, TX Industrial 45,465 N 12/27/2016 Dollar General Bakersfield, CA Retail 18,827 Y 11/10/2015 Dollar General Big Spring, TX Retail 9,026 Y 11/4/2016 Dollar General Castalia, OH Retail 9,026 Y 11/4/2016 Dollar General Lakeside, OH Retail 9,026 Y 11/4/2016 Dollar General Litchfield, ME Retail 9,026 Y 11/4/2016 Dollar General Mt. Gilead, OH Retail 9,026 Y 11/4/2016 Dollar General Thompsontown, PA Retail 9,100 Y 11/4/2016 Dollar General Wilton, ME Retail 9,100 Y 11/4/2016 Dollar Tree Morrow, GA Retail 10,906 Y 4/22/2016 EMCOR Facilities Cincinnati, OH Office 39,385 Y 8/29/2017 exp Global Maitland, FL Office 33,118 N 3/27/2017 (Cont’d) As of March 31, 2021 1. Investment grade rating on long-term debt is determined by a nationally recognized statistical rating agency.

Investments (cont’d) Property City, State Product Type Sq.Ft. Investment Grade1 Purchase Date FUJIFILM Dimatix (72.71%) Santa Clara, CA Industrial 91,740 Y 9/28/2017 Gap Rocklin, CA Office 40,110 N 12/1/2016 GSA - Mine Safety & Health Vacaville, CA Office 11,014 Y 4/5/2016 Harley Davidson Bedford, TX Retail 70,960 N 4/13/2017 Husqvarna Charlotte, NC Industrial 64,637 Y 11/30/2017 Illinois Tool Works El Dorado Hills, CA Industrial 38,500 Y 8/18/2016 L3 Communications Carlsbad, CA Industrial 46,214 Y 12/23/2016 Levins Sacramento Sacramento, CA Industrial 76,000 N 8/20/2015 Northrop Grumman Melbourne, FL Office 107,419 Y 3/7/2017 Omnicare Richmond, VA Industrial 51,800 Y 7/20/2017 PMI Preclinical San Carlos, CA Industrial 20,800 Y 12/9/2015 PreK Education Center San Antonio, TX Retail 50,000 Y 4/8/2016 Solar Turbines San Diego, CA Office 26,036 Y 7/20/2016 Sutter Health Rancho Cordova, CA Office 106,592 Y 3/15/2017 Taylor Farms Yuma, AZ Industrial 216,727 N 10/24/2019 Texas Health Resources Dallas, TX Office 38,794 Y 9/13/2018 Walgreens Santa Maria, CA Retail 14,490 Y 6/29/2017 Williams Sonoma Las Vegas, NV Office 35,867 N 6/22/2017 Wyndham Las Vegas, NV Office 41,390 N 6/22/2017 Totals 2,290,995 67% - As of March 31, 2021 1. Investment grade rating on long-term debt is determined by a nationally recognized statistical rating agency.

www.modiv.com | 888.686.6348120 Newport Center Drive | Newport Beach, CA 92660 Securities offered through North Capital Private Securities | Member FINRA / SIPC