Chiron Real Estate (XRN) Investor presentation summary

Mission and strategy

• Focuses on earnings growth and dividend stability by maximizing investment spread in healthcare real estate assets.

• Invests primarily in off-campus, outpatient, and post-acute inpatient medical facilities.

• Targets properties with attractive capitalization rates and strong, profitable tenants.

• Leverages an experienced management team to maximize investor returns.

Recent business activity

• Acquired $80.3 million in properties YTD 2024, totaling 15 properties and 254,220 leasable square feet at an 8.0% cap rate.

• Under contract to acquire a five-property portfolio for $69.6 million at a 9.0% cap rate, expected to close in 2025.

• Disposed of three properties for $20.2 million in gross proceeds.

• Signed a new 15-year lease at Beaumont, TX, with $2.9 million annual base rent and 2.5% annual increases.

• Raised $12 million by issuing 1.2 million shares at $9.95 per share in Q3 2024.

Portfolio and performance metrics

• Market cap of $0.6B and $1.4B in gross real estate investments as of September 30, 2024.

• Weighted average cap rate of 7.7% and dividend yield of 9.4%.

• 4.8M net leasable square feet across 187 buildings with 275 tenants and 96.1% occupancy.

• Weighted average rent coverage of 4.6x, rent escalations of 2.2%, and lease term of 5.6 years.