Asset Management Test
Who is an asset manager? – answer Steward/caretaker of asset
Asset management's perspective is of the _____ - answer Owner
Value creation - answer Grow sales and maintain lower costs, reduce expenses more
than a reduction in sales, create a "halo" that allows an exploitation of a positive image
Capex history and summary - answer Year, scope, and project cost for last renovation
and planned renovations for each major space and ROI-value enhancement projects
Exit/hold strategy - answer Year acquired by ownership (how long you want to hold
building)
Short term hold strategy - answer<3 years
Medium term hold strategy - answer3-5
Long term hold strategy - answer6-7
Factors influencing hold strategy - answerFacility condition, deferred capex, corporate
financial structure changes in market
Property condition assessment (PCA) - answerIncludes documentation review and
interviews, walk-through survey, preparation of opinions of probable costs to remedy
physical deficiencies, property condition report (PCR); if you can get this, do it!!
Documentation review - answerAppraisal, historical capex spend, descriptions of future
improvements planned, drawings and specs, etc. (many docs can be found in
BAS/BMS)
Walk through survey - answerCheck for everything we have learned this semester!
Preparation of cost estimates - answerEstimate costs per project if possible, include
timing of projects and any qualifications (unknown conditions, scope issues, etc.)
Property condition report - answerSystem description, opinions of probable costs to
remedy physical deficiencies, etc.
Appraisal valuation - answer1. New build/replacement value
2. Comparable sales
3. Cash flow (NOI)
Who is an asset manager? – answer Steward/caretaker of asset
Asset management's perspective is of the _____ - answer Owner
Value creation - answer Grow sales and maintain lower costs, reduce expenses more
than a reduction in sales, create a "halo" that allows an exploitation of a positive image
Capex history and summary - answer Year, scope, and project cost for last renovation
and planned renovations for each major space and ROI-value enhancement projects
Exit/hold strategy - answer Year acquired by ownership (how long you want to hold
building)
Short term hold strategy - answer<3 years
Medium term hold strategy - answer3-5
Long term hold strategy - answer6-7
Factors influencing hold strategy - answerFacility condition, deferred capex, corporate
financial structure changes in market
Property condition assessment (PCA) - answerIncludes documentation review and
interviews, walk-through survey, preparation of opinions of probable costs to remedy
physical deficiencies, property condition report (PCR); if you can get this, do it!!
Documentation review - answerAppraisal, historical capex spend, descriptions of future
improvements planned, drawings and specs, etc. (many docs can be found in
BAS/BMS)
Walk through survey - answerCheck for everything we have learned this semester!
Preparation of cost estimates - answerEstimate costs per project if possible, include
timing of projects and any qualifications (unknown conditions, scope issues, etc.)
Property condition report - answerSystem description, opinions of probable costs to
remedy physical deficiencies, etc.
Appraisal valuation - answer1. New build/replacement value
2. Comparable sales
3. Cash flow (NOI)
