Investors are cautioned that any statements in this press release which relate to the future are, by their nature, subject to risks and uncertainties that could cause actual results and events to differ materially from those indicated in such forward-looking statements. These include, but are not limited to: the possibility that we may be unable to find appropriate investment opportunities; levels of construction activity in the markets served by our mining properties; demand for flexible warehouse/office facilities in the Baltimore-Washington-Northern Virginia area; demand for apartments in Washington D.C. and Greenville, South Carolina; our ability to obtain zoning and entitlements necessary for property development; the impact of lending and capital market conditions on our liquidity, development costs and project timelines; our ability to finance projects or repay our debt; general real estate investment and development risks; vacancies in our properties; risks associated with developing and managing properties in partnership with others; competition; our ability to renew leases or re-lease spaces as leases expire; illiquidity of real estate investments; bankruptcy or defaults of tenants; the impact of restrictions imposed by our credit facility; the level and volatility of interest rates; environmental liabilities; inflation risks; cybersecurity risks; as well as other risks listed from time to time in our SEC filings; including but not limited to; our annual and quarterly reports. We have no obligation to revise or update any forward-looking statements, other than as imposed by law, as a result of future events or new information. Readers are cautioned not to place undue reliance on such forward-looking statements.
To supplement the financial results presented in accordance with GAAP, FRP presents a non-GAAP financial measure within the meaning of Regulation G promulgated by the Securities and Exchange Commission. The non-GAAP financial measure included in this Presentation is net operating income (NOI). FRP uses this non-GAAP financial measure to analyze its continuing operations and to monitor, assess, and identify meaningful trends in its operating and financial performance. This measure is not, and should not be viewed as, a substitute for GAAP financial measures.
FRP Holdings, Inc.
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Today's Agenda
FRP Holdings, Inc.
2023 Investor Day
Welcome
Who We Are
What We Do
Where We Are Going
CEO Wrap Up
Conclude Presentations
Q&A
FRP Holdings, Inc.
3
Building Success Over Time
Spin-Off from
Rezoned Anacostia
FRP & Trucking
Greenville, S.C. JV
Florida Rock
Site for Residential
Entity Split into
Formed
Industries
/ Commercial Use
Two Public Entities
1986
1988
1993
2014
2015
2018
2019
Present
Arundel Purchase;
Begin Construction
Sold Warehouse
Portfolio to
FRP Development
of Dock 79/1st JV
Blackstone Group
Founded
with MRP
($347M)
FRP Holdings, Inc.
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Cash Reinvestment - Per Year & Cumulative
$ in 000's
$66,451
$305,000
$44,699
$255,000
$22,668
$205,000
$28,099
$71,754
$155,000
$105,000
$81,935
$55,000
$5,000
2018
2019
2020
2021
2022
2023
Capex Spent in the Year
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FRP Holdings, Inc.
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FRP Holdings Inc. published this content on 11 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 October 2023 14:24:07 UTC.
FRP Holdings, Inc. is a holding company, which is engaged in various real estate businesses. The Company operates through four segments: Asset Management, Mining Royalty Lands, Development, and Stabilized Joint Venture Segment. Asset Management segment is engaged in leasing and management of commercial properties owned by the Company. Mining Royalty Lands Segment is engaged in leasing and management of mining royalty land owned by the Company. The segment owns several properties comprising approximately 16,650 acres under lease for mining rents or royalties and an additional 4,280 acres. Other than one location in Virginia, all of its mining properties are located in Florida and Georgia. Development segment real property acquisition, entitlement, development and construction primarily for apartment, retail, warehouse and office buildings either alone or through joint ventures. Stabilized Joint Venture segment ownership, leasing and management of buildings through joint ventures.