Henry Orlinsky President HR Real Estate Management Table of Contents - - PDF document
Henry Orlinsky President HR Real Estate Management Table of Contents I. Executive Summary Pg. 3 II. Corporate History Pg. 4 III. Executive Team Pg. 5 Contents Table of IV. Mission and Vision Pg. 6 V. Buildings Pg. 7 VI. Properties Pg.
Table of Contents
HR Real Estate Management 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 stra- tegically located properties in the San Juan Metropolitan area at the heart of the financial cen-
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 Interna- tional 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 jus- tice. Building Renovations – There has been lobby remodeling on all properties, additional retail space, refurbishment of all common areas, complete modernization and upgrade of ele- vators, the latest technology in security, parking equipment, and Wi-Fi internet access.
Executive Summary
221 Plaza Before 221 Plaza After
Henry Orlinsky has been in the management and development of Real Estate in Puerto Rico since January 1990, HR Real Estate Management, (“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 commit- ment in service and its understanding of the local market. This commitment starts with the Presi- dent, 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, mainte- nance, 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
cupy over forty percent of our building:
Corporate History
Executive Team Our knowledgeable and experienced staff consists of attorneys, accountants, archi- tects, licensed Real Estate Brokers and Certified Condominium Administrators, among
five years.
Vision At HR Real Estate Management, our vision is to provide Tenants with the best quality service, lat- est 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
tion.
Mission and Vision
Buildings
654 Plaza, located at 654 Muñoz Rivera Avenue is a twenty-one story 275,074 square- foot 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
“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 mar- ble 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 de- signed 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 ex- isting high-speed elevators. The project also consisted of the upgrade and remodeling
Properties
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 indus-
improvement project in the initial design phase which will incorporate the accessibility and ameni- ties of all three independent buildings into one Ma- jor Office and Retail Center. The Center is conven- iently located at the “Crossroads of Hato Rey” in- tersection 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 opera- tions, 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 im- portance 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.
Properties
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 1,604.81 square meters. The Build- ing consists of a seventeen story (above-ground) of- fice building that has 15 floors of office and commer- cial space, two levels of parking, and two levels of underground parking. It has a con- struction 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 com- pletely 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.
Properties
221 Realty has constructed a parking garage condo- minium 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
The building is registered under the Horizontal Property Regime and each parking space is segregated for indi- vidual sale. The Quisqueya Parking Garage is ac- cessed 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 avail- able 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 HR Real Estate Management in- clude design assistance, liaison with the General Contractor, value engineering, man- agement, select and the purchase of materials, negotiating construction contract, su- pervised construction site, represented owner in all construction/design decisions, at- tended construction meetings on behalf of owner, prepared needed documentation for bank loans and permitting. This was a $20,000,000.00 project entirely overseen by HR.
Properties
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 an- chored by a supermarket. This retail area also has a dry cleaners, beauty salon, restau- rant, 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.
Properties
HR Real Estate Management uses the most advanced technology in the market and
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
Accounting
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
Accounting
As a full service commercial property management firm with over 20 years of experi- ence in the Puerto Rico Metro area, HR Real Estate Management provides building own- ers with professional and efficient service. We focus on maximizing profits through cost reduction programs while maintaining the high standards of customer care we are fa- mous for. Our low vacancy rates speak for themselves. We protect your investment by providing preventive mainte- nance 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 work- ing 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 ad- ministration company called IT Experts that surpass any local technology firm in both ser- vices and equipment. This division of HR Real Estate Management 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.
Management
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 re- newals 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.
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 fi- nancial center. We are thoroughly experienced in commercial property man- agement and offer our clients an experienced, complete in house staff that focuses on quality preventive mainte- nance and can handle any emergency with diligence and
managerial, accounting, technology, maintenance and leasing services. We are committed to providing our clients with the highest level of professionalism. HR Real Estate
Management
Whether we are representing a property owner or a tenant, we carefully analyze
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 high- est 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 suppli- ers 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
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 profes- sionals and outside companies to provide our clients with added value and create long lasting relationships with them.
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 HR Real Estate Management we guide our clients through the selection, negotiation and acquisition of their physical assets as well as their operation and daily manage-
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 HR Real Estate Management’s team’s involvement in profes- sional 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
ance documentation.
Management
PR for PR was born out of the concern of the president of HR Real Estate Management 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 self- satisfaction, tolerance, empowerment and self-sufficiency. Our mission is to provide op- portunities of transformation and development to children and young people residents
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 2005. 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, self- respect and empowerment. We have sponsored over 20 summer camps and have fi- nancially supported many other activities. We have served many communities of the San Juan area including, but not limited to: Barrio Obrero, Barriada Figueroa, TrasT- alleres, Villa Palmera, Barriada Venezuela, Playita sector, El Guano, el Chícharo sector, and housing projects such as Luis LlorénsTorres, Manuel A. Pérez, Las Margaritas and Bar- toloméde las Casas.