Henry Orlinsky President

Transcription

1 Henry Orlinsky President

2 Table of Contents Table of Contents I. Executive Summary Pg. 3 II. Corporate History Pg. 4 III. Executive Team Pg. 5 IV. Mission and Vision Pg. 6 V. Buildings Pg. 7 VI. Properties Pg. 8 VII. Accounting Services Pg. 13 VIII. Management Services Pg. 15 IX. PR for PR Pg. 19

3 Executive Summary Executive Summary has positioned itself as a major player in the re-development and vitalization future of Hato Rey. The company controls five of Hato Rey s most attractive and strategically located properties in the San Juan Metropolitan area at the heart of the financial center. Although market conditions have remained stagnant, we have been able to maintain high occupancy percentages and excellent Tenant relations. We have sold five floors in 221 plaza for an amount exceeding eleven million dollars. The sale of several units in this building are being negotiated. At 650 Plaza Condominium we have sold almost 50% of the building at over $300 per sq. ft. Other units are being leased and/or in various stages of the sales process. There are several compelling reasons why we strongly believe that all of the properties under our management have above average occupancy rates and upkeep. Location All of our properties are strategically located with easy access to main avenues, highways, hospitals, schools, major shopping malls, Luis Muñoz Marín International Airport, Hato Rey s financial center, and within walking distance from the new light rail system referred to as Tren Urbano and the future department of justice. Building Renovations There has been lobby remodeling on all properties, additional retail space, refurbishment of all common areas, complete modernization and upgrade of elevators, the latest technology in security, parking equipment, and Wi-Fi internet access. 221 Plaza Before 221 Plaza After

4 Corporate History Corporate History Henry Orlinsky has been in the management and development of Real Estate in Puerto Rico since January 1990,, ( HR ) was created on February 20th 1998 with the purpose of delivering commercial real estate management, brokerage and development services in Puerto Rico. HR s success in development and management is the result of years of experience, high commitment in service and its understanding of the local market. This commitment starts with the President, HR s team and ultimately an extensive collection of outstanding suppliers which we refer to as extended team players. All of our extended team players are committed to us 24 hours a day, 365 days per year. HR offers its clients a wide range of services in house, such as, maintenance, parking, security, construction and IT, to mention a few. It is through our many years of management experience in Puerto Rico that we have gathered such an amazing team of professionals and outside companies to ensure the comfort and well being of our clients. These clients include the companies provided below which currently occupy over forty percent of our building:

5 Executive Team Executive Team Our knowledgeable and experienced staff consists of attorneys, accountants, architects, licensed Real Estate Brokers and Certified Condominium Administrators, among others. Most of our employees have been with for over five years.

6 Mission and Vision Mission and Vision Vision At, our vision is to provide Tenants with the best quality service, latest technology, maximum security, and the finest work environment. Our Mission Our mission is to anticipate and fulfill the needs of the ever growing and changing commercial office market and the sophisticated and specialized tenant who requires nothing short of perfection.

7 Buildings Buildings under management: 654 Plaza Location: 654 Munoz Rivera Total SF: 275,074 Tenants: Plaza Location: 650 Munoz Rivera Total SF: 67,992 Tenants and Owners: Plaza Location: 221 Ponce de León Total SF: 122,795 Tenants and Owners: 10 Q-12 Location: 12 Quisqueya St. Total SF: 150,000 Tenants and Owners: Plaza Location: 652 Muñoz Rivera Total SF: 125,475 Tenants: 35

8 Properties Property Memorandum 654 PLAZAP 654 Plaza, located at 654 Muñoz Rivera Avenue is a twenty-one story 275,074 squarefoot Class-A office building on a 6,186 square meter site. The building is 95 percent leased to 65 Tenants, with approximately one third of the occupied space being leased to Fortune 500 companies. No single tenant occupies more than 14 percent of the rentable building square feet. 654 Plaza is conveniently located at the Crossroads of Hato Rey, intersection of Muñoz Rivera Avenue and Jose T. Piñero Avenue. The Building has close proximity to area hospitals, universities, corporate headquarter facilities, the San Juan Financial District, Tren Urbano and is within a five minute drive to the Luis Muñoz Marín International Airport and Puerto Rico s largest shopping mall Plaza Las Americas. The lobby has undergone a complete renovation, with vaulted ceilings, expensive marble and glass interiors, and quality design finishes. The lobby s design is meant to reflect the new service oriented theme of the building while respecting the structural integrity and architecture of the building. The renovations include new wood and glass panel walls with beautiful three-color marble floors and vaulted ceilings over 16 feet high. In conjunction with the construction of the lobby, the Owner is creating a beautifully designed façade outside, above the new entrance over 30 feet in height complementing the existing exterior design of the tower structure. The façade remodeling project also plans for aesthetic improvements to the façade of the parking structure as well. The Building has presently undergone a complete upgrade and modernization of the six existing high-speed elevators. The project also consisted of the upgrade and remodeling of the cars as well as digitalize the mechanical controls of the system.

9 Properties 650 PLAZAP Property Memorandum (cont.) PROPERTY DESCRIPTION 650 Muñoz Rivera Avenue is a seven story 68,000 rentable square-foot Class-A office building with parking capacity for 120 vehicles, located at the base of San Juan s Golden Mile. The building is leased to various Tenants that encompass a broad range of industries. has a capital improvement project in the initial design phase which will incorporate the accessibility and amenities of all three independent buildings into one Major Office and Retail Center. The Center is conveniently located at the Crossroads of Hato Rey intersection of Muñoz Rivera Avenue and Jose T. Piñero Avenue. The Center has close proximity to area hospitals, universities, train station, corporate headquarter facilities, the San Juan Financial District and is within five minutes drive time to the Luis Muñoz Marin International Airport and Puerto Rico s largest shopping mall Plaza Las Americas. Understanding the importance of uninterrupted service to support our Tenant s operations, 650 Plaza counts with a Full Power Plant back-up of the entire building for the building s uninterrupted electrical requirements. The generator provides 100% power capacity for the Building and will be capable of 24/7 operation. Well aware of the importance of security, the building provides security services 24/7. Recently, Landlord has invested approximately $130,000 in security cameras for the entire building to further protect the safety of our Tenants and owners.

10 Properties Property Memorandum (cont.) 221 PLAZAP PROPERTY DESCRIPTION The Building is a First-Class office Tower located at 221 Ponce de León Avenue, on the most prime corner of Hato Rey, Puerto Rico. The subject site is a two-corner lot with an area of 1, square meters. The Building consists of a seventeen story (above-ground) office building that has 15 floors of office and commercial space, two levels of parking, and two levels of underground parking. It has a construction area of 187,739 square feet, and a rentable area of 122,148 square feet. The ground floor renovation provided additional retail space to the building. Le Club Cuisine offers gourmet lunches and Teriyaki Experience will open its doors soon on the ground floor space previously occupied by Starbucks. The lobby area has been completely renovated, the owner incorporated a more modern and elegant look to the lobby with a beautiful mix of stone, granite and marble floors, high vaulted ceilings with great lighting and the renovation of the existing walls.

11 Properties Property Memorandum (cont.) Q-12 PROPERTY DESCRIPTION 221 Realty has constructed a parking garage condominium with approximately 553 parking spaces and approximately 14,000 square feet of commercial retail space on the ground floor of the south east corner lot of Quisqueya and Haiti Streets (the Parking Garage ). The building is registered under the Horizontal Property Regime and each parking space is segregated for individual sale. The Quisqueya Parking Garage is accessed through Haiti Street. The structure consists of commercial retail space on the ground level and twelve levels of parking spaces of which 60 have been reserved for the retail space. The Quisqueya Parking Garage has an excellent location at the heart of the Golden Mile. Individual units are individually deeded and now available for sale. At 13 Stories high, this imposing metallic structure has 12 floors of parking and 1 level of retail space on the ground floor. Duties performed by include design assistance, liaison with the General Contractor, value engineering, management, select and the purchase of materials, negotiating construction contract, supervised construction site, represented owner in all construction/design decisions, attended construction meetings on behalf of owner, prepared needed documentation for bank loans and permitting. This was a $20,000, project entirely overseen by HR.

12 Properties Property Memorandum (cont.) 652 EL E MONTE PROPERTY DESCRIPTION 652 El Monte is a 104,074 rentable square feet class B office building with 117 parking spaces strategically located at the gateway of the Golden Mile. 652 El Monte for years known as El Monte Mall has three levels; the ground floor consists of a retail area anchored by a supermarket. This retail area also has a dry cleaners, beauty salon, restaurant, shoe repair and other service businesses, while the two remaining floors provide a variety of Tenants, mostly medical offices. 652 El Monte s strategic location and future area developments makes it very attractive for Tenants in a variety of fields.

13 Accounting Our Accounting Services uses the most advanced technology in the market and our specialized staff can provide customers with the following reports. Payroll Payroll Processing Yearly Bonus Report Payroll Report Quarterly Report Vacation & Sick Leave Report Journal Entries Analysis of Payroll Accounts File keeping Services Accounts Receivable Tenant Billing Reports by Building Cash Details Report by Building Analysis of A/R by Building Monthly Billing Analysis of Income Accounts File Keeping Journal Entries Tenant Service Ageing Report Rent Roll Report Tax Filing by Building

14 Accounting Our Accounting Services General Ledger Reports Balance Sheets Comparative Income Statements General Ledger Reports Income Statement with Variance Notes Standard Income Statements Trial Balance Reports Capital Improvements Reports IVU Reports Accounts Payable Reports Bank Reconciliation Report Aged Invoice List Report Check Register Report Open Invoice List Report Outstanding Check Listing Report Payment Plan Report Accounts Receivable Reports Aged Delinquencies Report Receivables Ledger Report Security Deposits Ledger Report Monthly Statements Cash Detail Report Cash Receipts Report

15 Management Our Management Services As a full service commercial property management firm with over 20 years of experience in the Puerto Rico Metro area, provides building owners with professional and efficient service. We focus on maximizing profits through cost reduction programs while maintaining the high standards of customer care we are famous for. Our low vacancy rates speak for themselves. We protect your investment by providing preventive maintenance to all equipment and making sure that the building s entire physical condition is in perfect state. Through our strong network of suppliers we can guarantee that the building will be running smoothly and repairs will be addressed in a timely manner by proven professionals. A well maintained property will keep rental values and occupancy levels high while providing a comfortable working environment for its Tenants. We use the most sophisticated IT equipment and software in the industry to provide our clients with accurate information and timely reports. We have an In-House systems administration company called IT Experts that surpass any local technology firm in both services and equipment. This division of is led by Miguel Estremera and provides services for Tenants as well as In House. Our In House Architect, Ezequiel Rubin oversees all building and expansion projects. You can rest assured that all projects under our supervision will be on budget and on time.

16 Management Our Management Services Our team of In House Licensed Real Estate Brokers, Agnes Rivera (who is also a Certified Condominium Administrator) and William Otero will market your property effectively to maintain occupancy levels high. Ono of our priorities has always been to negotiate renewals far in advance of their due date. All of our property management services are overseen by our In House Counsel, Lcda. Vanya Febles-Gordian. With extensive knowledge of local applicable laws and a strong tax and corporate background, she is a great asset to the company. What can your company expect from HR Property Management? HR Real Estate Services has positioned itself as a major player in the Puerto Rico Commercial Real Estate Market. With over 20 years of experience in the local market, the company manages five of Hato Rey s most attractive and strategically located commercial properties in the San Juan Metropolitan area at the heart of the financial center. We are thoroughly experienced in commercial property management and offer our clients an experienced, complete in house staff that focuses on quality preventive maintenance and can handle any emergency with diligence and competence. Our Property Management team provides managerial, accounting, technology, maintenance and leasing services. We are committed to providing our clients with the highest level of professionalism. HR Real Estate

17 Management Our Management Services What can our Brokers do for you? Whether we are representing a property owner or a tenant, we carefully analyze our client s needs first and develop a focused action plan. In collaboration with our network of licensed commercial real estate brokers, we can match our clients with their ideal tenant or location in an efficient, timely and cost conscious manner. Our team members actively participate in the Puerto Rico Chamber of Commerce Real Estate Committee and San Juan Chapter CCIM activities. HR provides continued education for its commercial real estate professionals to provide you with the highest quality service and the most recent and accurate market information that our sophisticated clientele requires. HR s success is the result of experience, outstanding service and our understanding of the local market. Our commitment to our clients starts with the President, HR s team and ultimately an extensive collection of suppliers which we refer to as extended team players. We are committed to our clients 24 hours a day, 365 days per year. HR also offers owners and tenants a wide range of services in-house such as: maintenance and repairs, parking, security, design and IT, to mention a few. It is through our many years of brokerage and management experience in Puerto Rico that we have gathered such an amazing team of professionals and outside companies to provide our clients with added value and create long lasting relationships with them.

18 Management Asset Management Asset Management Services can be crucial in managing both the general operational aspects of properties as well as effective cost management. A prime example could be in terms of tax overpayment, regulatory non compliance and general inefficiency. At we guide our clients through the selection, negotiation and acquisition of their physical assets as well as their operation and daily management. We improve the overall performance which adds to the clients bottom line. Our expert team are fully aware of the local Real Estate Industry s best practices and governmental requirements. This translates into a more efficient operation as we are quick to adapt to changes in the market place and are constantly on the lookout for ways to improve your operations. Our clients benefit from s team s involvement in professional organizations like the Puerto Rico Chamber of Commerce, CCIM. We put our thorough knowledge of the local market place and objective decision making at your service. We offer database accuracy for financial reporting, asset tracking and compliance documentation.

19 Social Responsibility PR for PR PR for PR was born out of the concern of the president of for our disadvantage communities, as he was raised in a low income environment in New York. PR for PR is intended to provide the opportunity of transformation for children and young residents of low-income and high risk communities. PR for PR is composed of a group of professionals and volunteer leaders that share the same concern. Our vision is to ensure the welfare of children and young people that live in low-income and high risk communities, by endorsing activities that promote selfsatisfaction, tolerance, empowerment and self-sufficiency. Our mission is to provide opportunities of transformation and development to children and young people residents of economically disadvantage communities by engaging the professional sector to their better benefit by offering services, funding and various resources that will enrich their quality of life. PR for PR was officially incorporated under the laws of the Commonwealth of Puerto Rico on May For the past ten (10) years, even before PR for PR was established, we have been working with kids and young people, teaching them tolerance, selfrespect and empowerment. We have sponsored over 20 summer camps and have financially supported many other activities. We have served many communities of the San Juan area including, but not limited to: Barrio Obrero, Barriada Figueroa, TrasTalleres, Villa Palmera, Barriada Venezuela, Playita sector, El Guano, el Chícharo sector, and housing projects such as Luis LlorénsTorres, Manuel A. Pérez, Las Margaritas and Bartoloméde las Casas.