EX-99.2 3 e19694ex99_2.txt PRESENTATION Exhibit 99.2 [LOGO] AmREIT ------------------------------------------- Good Things Happen on Great Real Estate(TM) ------------------------------------------- [GRAPHIC OMITTED] 3Q Acquisition Plaza in the Park - Kroger ================================================================================ [GRAPHIC OMITTED] Property Information: => SW Corner of Buffalo Speedway & Westpark in Houston, TX => Acquired 7/1/04 => 131,000 sq. feet Kroger is the #1 grocer in the Houston marketplace ================================================================================ 2 Good Things Happen on Great Real Estate(TM) [LOGO] AmREIT [GRAPHIC OMITTED] 3Q Acquisition Cinco Ranch - Kroger ================================================================================ [GRAPHIC OMITTED] Property Information: => NE corner of Mason Road and Westheimer in Katy, TX => Acquired 7/1/04 => 97,297 sq. feet Kroger is the #1 grocer in the Houston marketplace ================================================================================ 3 Good Things Happen on Great Real Estate(TM) [LOGO] AmREIT [GRAPHIC OMITTED] 3Q Acquisition Bakery Square ================================================================================ [GRAPHIC OMITTED] Property Information: o SW corner of Dunlavy and West Gray in Houston, TX o Acquired 7/23/04 o 34,704 total sq. feet This is a strong infill property located just west of downtown Houston. ================================================================================ 4 Good Things Happen on Great Real Estate(TM) [LOGO] AmREIT [GRAPHIC OMITTED] Our Business Model ================================================================================ Wall Street ||$|| Capital -------| | |------> AmREIT <------| | ^ | o Advisory Fees Retail | Real Estate o Construction Fees o Profit Partnership | Operating and o Development Fees Participation Business | Development o Property Management Fees ^ | Business o Asset Gains | | o Brokerage and Leasing |(Capital) |(Capital) Fees | | ----- Securities Business <---- Independent Financial Planning Community (Relationships) ================================================================================ => AmREIT (AMY) is supported by three synergistic businesses: a real estate operating and development business, a NASD registered securities business and a retail partnership business ================================================================================ 5 Good Things Happen on Great Real Estate(TM) [LOGO] AmREIT [GRAPHIC OMITTED] Asset Growth (millions) ================================================================================ [The following information was depicted as a bar chart in the printed material] 2002 2003 2004E 2005E ---- ---- ----- ----- $74 $101 $200 $400 *12-18 months * Represents the adjusted FFO (AFFO) per share. The company adheres to the NAREIT definition of FFO. The company's AFFO takes the NAREIT calculated FFO and adds back certain non-cash expense items, if any for that year. ================================================================================ 6 Good Things Happen on Great Real Estate(TM) [LOGO] AmREIT [GRAPHIC OMITTED] AMY vs. NAV ================================================================================ * In the 3Q Earnings Release AmREIT stated that NAV/share should be in the range of $8.50 to $9.30 for the 3Q04 period. The range displayed is not representative of the previous NAV estimates prior to the 2Q04 earnings release. AmREIT updates NAV/share on a quarterly basis. [The following information was depicted as a mountain chart in the printed material] Value of Advisor $9.30 NAV NAV Discount $8.50 Range* $7.80 Close 11/8/04 Date Close ---- ----- Oct-04 8.00 Sep-04 7.46 Aug-04 8.04 Jul-04 7.47 Jun-04 6.63 May-04 6.64 Apr-04 6.75 Mar-04 7.07 Feb-04 7.05 Jan-04 6.60 Dec-03 6.40 Nov-03 6.40 Oct-03 6.50 Sep-03 6.40 Aug-03 6.38 Jul-03 6.32 Jun-03 6.15 May-03 6.64 Apr-03 6.55 Mar-03 6.80 Feb-03 6.30 Jan-03 6.25 Dec-02 6.25 Nov-02 6.50 Oct-02 6.50 Sep-02 6.55 Aug-02 6.95 Jul-02 6.60 ================================================================================ 7 Good Things Happen on Great Real Estate(TM) [LOGO] AmREIT [GRAPHIC OMITTED] FFO Growth (Adjusted) (Per Share) ================================================================================ [The following information was depicted as a bar chart in the printed material] 2002 2003 2004E ---- ---- ----- Increase 15-19% $0.42 $0.54 $0.62 * Represents the adjusted FFO (AFFO) per share. The company adheres to the NAREIT definition of FFO. The company's AFFO takes the NAREIT calculated FFO and adds back certain non-cash expense items, if any for that year. ================================================================================ 8 Good Things Happen on Great Real Estate(TM) [LOGO] AmREIT [GRAPHIC OMITTED] Dividend Growth (per share) ================================================================================ [The following information was depicted as a bar chart in the printed material] 2002 2003 2004 ---- ---- ---- Increase 9.1% $0.34 $0.45 $0.48 * Represents the adjusted FFO (AFFO) per share. The company adheres to the NAREIT definition of FFO. The company's AFFO takes the NAREIT calculated FFO and adds back certain non-cash expense items, if any for that year. ================================================================================ 9 Good Things Happen on Great Real Estate(TM) [LOGO] AmREIT => Contact Us www.amreit.com 1.800.888.4400 Kerr Taylor ----------- CEO ktaylor@amreit.com Extension 114 Chad Braun ---------- CFO cbraun@amreit.com Extension 124 Debbie Lucas ------------ VP Corporate Communications dlucas@amreit.com Extension 143 [GRAPHIC OMITTED] Disclaimer ================================================================================ Statements included in this presentation that state the company's or management's intentions, hopes, beliefs, expectations or predictions of the future are "forward-looking" statements, within the meaning of the Private Securities Litigation Reform Act of 1995, which, by their nature, involve known and unknown risks and uncertainties. The company's actual results, performance or achievements could differ materially from those expressed or implied by such statements. Reference is made to the company's regulatory filings with the Securities and Exchange Commission for information or factors which may impact the company's performance. ================================================================================ 11 Good Things Happen on Great Real Estate(TM) [LOGO] AmREIT