ASSET MANAGEMENT/OPERATIONS of Vertical Mixed-Use (2-4 ...
Transcript of ASSET MANAGEMENT/OPERATIONS of Vertical Mixed-Use (2-4 ...
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ASSET MANAGEMENT/OPERATIONSof
Vertical Mixed-Use(2-4 stories)
Presented by:yMichael J. Mathews
President / Designated Broker
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Wh ’ th Cli t?Who’s the Client?What are the objectives?Commercial vs ResidentialCommercial vs ResidentialFor Sale vs RentalAmenitiesAmenitiesStaffing
Complex and management intensiveComplex and management intensiveComplex and management intensiveComplex and management intensive
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Parking Parking Trash / Compactors / BalersCommon Elements/Public AreasCommon Elements/Public AreasService/Delivery AreasBuilding/Mechanical SystemsBuilding/Mechanical SystemsUtilities
Sub-meteringg
Physical characteristicsPhysical characteristics
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Get involved as early as possibleG o d as a y as poss bDesign ReviewGovernance StructureGovernance Documents
Development involvementDevelopment involvementDevelopment involvementDevelopment involvement
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Centerpoint pProperty Owner
Association
Member -Centerpoint
Holdings
Member –Brookfield/
Chase
Member -Marriott Tempe
Downtown Courtyard
Member – Irby House
Future Member – Avenue
Communities
CenterpointCenterpoint
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DC Ranch Covenant
Commission
DC Ranch Community
Council (Community Association)
Market Street at DC Ranch
Retail Declarations
Market Street at DC RanchMarket Street at DC Ranch
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Master Association
Commercial Association
Residential Association
Retail Condo’s
Office Condo’s
Residential Condo’s
Scottsdale WaterfrontScottsdale Waterfront
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Community Community Association
Verrado District Verrado District Core (90%/10%
Development split in ownership)
Verrado Condo Association
Retail Condo’s Residential Condo’s
Verrado District CoreVerrado District Core
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Master Master Association
Retail Parcel Declaration
Condo Declaration
Retail Office Residential Condo’s
Retail Parcel Declarations
Retail Condo’s
KierlandKierland CommonsCommons
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Budget/Assessmentsudg / ss ss sExpense Allocations / Cost PoolsCommercial – Fixed Cam
Development involvementDevelopment involvementDevelopment involvementDevelopment involvement
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Pool APool A
Pool BPool E
Pool Pool CPool D
Expense Allocations / Cost PoolsExpense Allocations / Cost PoolsExpense Allocations / Cost PoolsExpense Allocations / Cost Pools
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RetailRetail
Office
POOL “A”Hotel
Residential
Cost Pools Cost Pools –– Master Association Master Association common area expensescommon area expensescommon area expensescommon area expenses
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Retail
HotelPOOL “B”
Residential
Cost Pools Cost Pools –– Retail Sharing certain Retail Sharing certain expenses with Hotel & Residentialexpenses with Hotel & Residentialexpenses with Hotel & Residentialexpenses with Hotel & Residential
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Retail
POOL “C”
OfficeOffice
Cost Pools Cost Pools –– Commercial Expenses Commercial Expenses allocated between Office & Retailallocated between Office & Retailallocated between Office & Retailallocated between Office & Retail
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Retail –Restaurants
HotelPOOL “D”
Residential
Cost Pools Cost Pools –– Restaurants, Hotel & Restaurants, Hotel & Residential sharing valet expenses.Residential sharing valet expenses.Residential sharing valet expenses.Residential sharing valet expenses.
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Hotel
POOL “E”
ResidentialResidential
Cost Pools Cost Pools –– Hotel & Residential Hotel & Residential sharing pool/spa & exercise facilitiessharing pool/spa & exercise facilitiessharing pool/spa & exercise facilitiessharing pool/spa & exercise facilities
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What to avoid…What to avoid…What to avoid…What to avoid…
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What to avoid…What to avoid…What to avoid…What to avoid…
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For more information contact us at:
11811 N. Tatum Blvd, Suite P-177Phoenix AZ 85028
Phone: (602) 953-6150Fax: (602) 953-6151
www msrea netwww.msrea.net
Michael J. MathewsPresident / Designated Broker