{
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  "documentTitle": "Bank of America | Investment Banking Pitch Book | 20 slides",
  "authorId": "bank-of-america",
  "authorName": "Bank of America Merrill Lynch",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2016-02-01 00:00:00",
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  "pageNumber": 12,
  "pageCount": 20,
  "prevPage": 11,
  "nextPage": 13,
  "slideType": "financial_analysis",
  "function": "summarize",
  "density": "dense",
  "nDataPoints": 150,
  "notes": "Includes Bank of America Merrill Lynch branding.",
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  "slideHref": "/slides/019de06f-63f5-75f8-bc83-92c55235e607/12",
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      "kind": "disclaimer",
      "text": "Note: RHO Projections based on financial projections as received from RHO management in February 2016. (1) Inclusive of Original Portfolio and Acquisition Assets, excludes internal fees, and deducts present value of estimated municipal incentives estimated at $21M. (2) Includes historical acquisitions, partial sales, and recent development projects including: Chula Vista, Mt. Shasta Mall, Fig Garden Village, Bel Air Mall, Newpark Mall, Gateway Mall, Grand Traverse Mall, Spring Hill Mall, and The Shoppes at Carlsbad.",
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      "kind": "list",
      "text": "RHO Projections include partial sale of two assets and no future acquisitions; 49% interests in Chula Vista and Gateway sold for $65mm; Total strategic and cosmetic CapEx spend of $201mm; 13 properties; All projects completed by 2017 except Carlsbad (2018); Turtle Creek Crossing strip asset sold in Q4 2016 for $9.0mm; Vista Ridge returned to lender; Five loans, representing $481mm current balance refinanced over 2016 - 2020 at rates between 4.5% - 5.5%",
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      "kind": "table",
      "text": "Financial projection table showing Stabilized NOI, Non-Stabilized NOI, NOI, Core EBITDA, Core FFO, Core FFO per Share, and Additional Information metrics from 2014A to 2020E with 2016-2020 CAGR.",
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      "kind": "title",
      "text": "Summary Overview of RHO Projections",
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      "arcName": "The Consultant's Gambit",
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      "beatName": "Evidence & Proof",
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      "evidence": "slides 11-16 provide financial analyses, summary overview of RHO projections, and various data tables",
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      "name": "Benchmark Gap",
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      "bestFor": "Performance improvement, competitive analysis, target setting",
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      "evidence": "slides 10-13 provide market update, RHO historical stock price performance, and summary overview of RHO projections",
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      "objective": "What is the benchmark gap for RHO?",
      "structure": "Our Performance -> Industry Average -> Best-in-Class -> The Gap = The Opportunity",
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