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CFM Study

CFM Study. Session # 2 Real Estate. Real Estate Competency. Manage & implement Real Estate Master Planning Process Manage Real Estate Assets. Real Estate & Facility Management. Traditional perception of facility as office/workspace More valued today as property to be sold or traded

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CFM Study

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  1. CFM Study Session # 2 Real Estate

  2. Real Estate Competency • Manage & implement Real Estate Master Planning Process • Manage Real Estate Assets

  3. Real Estate & Facility Management • Traditional perception of facility as office/workspace • More valued today as property to be sold or traded • New organizational function-managing Real Estate as an asset • Requires developing new skills while utilizing old ones • Need to understand Real Estate Principles & Practices • Need to see inter-relationships with Facility Management

  4. Key Concepts • Real Estate Planning • Tools & Techniques • The Real Estate Life Cycle • Key Activities • Tools • FM Touch Points • Adding FM value to Real Estate Function

  5. Real Estate Planning • Managing the Master Plan • Own vs. Lease • Types of leases • Negotiating a lease • Disposal of facilities

  6. Influences- Internal Factors • Corporate strategic plan • Anticipated growth • Anticipated compression • Financial analysis • Corporate Business Cycles • Corporate image

  7. Influences- External Factors • Financial market/macroeconomics • Real Estate market conditions • Environmental regulations • Governmental controls • Community Relations

  8. Managing the Real Estate Master Plan • Vision • Strategic in nature • Holistic • Components • Follow strategic plan format • Confidential document • Key Stakeholders • Internal • External

  9. Maintaining the Master Real Estate Plan • Measure Real Estate performance • Measure customer usage • Monitor economic changes in market • Awareness of deviations from plan • Information gathering for recommendations

  10. Real Estate Lifecycle • Acquisition • Extended Operating Hours • Management • Disposition

  11. Acquisition • Due Diligence • Appraisal • Environmental • Condition Assessments • Operating Cost budgets/Pro Forma • Sustainability • Lease vs. Purchase • Time value of money • Lease types • Fee Simple • Terms, conditions & Clauses

  12. Lease Negotiations • Assemble a team • FM as owner rep • Legal • Broker • Develop RFP • Standard Levels of Service • Supply/Demand of Market • Landlord Incentives

  13. Management • Highest & Best Use Studies • Optimum use of facility • Calculations • Space (SF, Gross, Rentable, Usable) • Cost (opex) • Portfolio Administration • Inventory • ROI • Performance • Analysis • Reporting

  14. Question #1 • In a multi-floor, multi-tenant office building, a private stairwell built between two floors occupied by one tenant is: • Part of the building’s common area • Part of the tenant’s rentable area • Part of the tenant’s usable area • Part of the floor’s common area

  15. Question #2 • Usable area equals rentable area minus which of the following (Choose 3) • Building Core • Primary Circulation • Secondary Circulation • Service Areas

  16. Question #3 • An attribute of a good master plan includes (choose 2) • Accurate • Permanent • Detailed • Within the framework of a corporate master plan

  17. Question #4 • When calculating a floor’s rentable area, you must first subtract the area calculations for which of the following (choose 3)? • Stairwells • Restrooms • Elevator shafts • Mechanical chases

  18. Question #5 • To be legally enforceable, a contract to purchase real estate must include all of the following, except: • Be in writing • Include consideration • Include insurance requirements • Include signatures

  19. Question # 6 • Leasing provides which of the following advantages (choose 2) ? • Allows for minimum capital investment • Allows a business to enter a market quickly • Provides a hedge against inflation • Conveys company pride & growth

  20. Question # 7 • In Real Estate, curb appeal means: • Height of the curb and distance to the parking lot • Initial impression a facility makes on a visitor • Layout of the landscaping & shrubbery • Large natural areas preserved for environmental reasons

  21. Question # 8 • Purchasing property provides which of the following advantages (choose 2) ? • Ensures a business the desired location • No restrictions on use • Conveys financial stability • Good exit strategy if company downsizes

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