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  "documentTitle": "Netstreit | Investor Presentation Deck | 41 slides",
  "authorId": "netstreit",
  "authorName": "Netstreit",
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  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-07-01 00:00:00",
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  "pageNumber": 9,
  "pageCount": 41,
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      "kind": "source-note",
      "text": "Note: Portfolio data as of June 30, 2023.",
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      "text": "Investment Grade (rated)\nInvestment Grade Profile (unrated)\nSub-IG (rated) & Sub-IG Profile (unrated)¹\nDescription\nValidated financial strength and stability\nProfessional management with standardized operational practices\nFocus on corporate guarantee credit\nLower relative yields\nHigher competition for deals\nIG-caliber balance sheets without explicit rating\nThreshold metrics:\nAt least $1B in sales\nDebt / adjusted EBITDA of less than 2.0x\nWell-capitalized retailers\nNational footprint with strong brand equity\nFocus on real estate quality / unit-level profitability\nHigher relative yields\nLower competition for deals\nDurability\nDefensive, consistent performance through economic cycles\nCoverage and credit enhancements required given more susceptible to market disruptions\n% Of ABR\n67.7%\n81.8% IG and IG Profile\n14.1%\n18.2%\nLease Terms (WALT, Rent Bumps, etc.)\nLess negotiating leverage\nMore negotiating leverage\nMost negotiating leverage\nRepresentative Tenants\nWalgreens, TJX, Firestone, Target, Whole Foods Market, Advance Auto Parts, Eleven, Kroger, Starbucks, Walmart, Lowe's\nOllie's Bargain Outlet, Chick-fil-A, Hobby Lobby, Sportsman's Warehouse, Publix, REI\nKFC, Davita, Wendy's, Jack's, Caribou Coffee, Winn-Dixie, Bojangles, Burlington",
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      "kind": "title",
      "text": "Credit-Focused Underwriting Approach Drives Stable Revenue and Long-Term Return on Investment",
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      "kind": "title",
      "text": "Strong Tenant Credit Underwriting",
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