PROTECTING VALUE IS A BEGINNING;
ENHANCING VALUE IS THE TRUE OBJECTIVE

Introduction by:
Rinaldo A. Acri,
Chief Executive Officer

Traditional property management is by nature a reactive activity. It deals with current events and how the events affect the status quo.

Because of this philosophy, the value of the property rides aimlessly, increasing or decreasing with market conditions. The property may still be able to provide a return in bad times. Rarely, however, will the property achieve its full potential.

Quite differently, the concept of Value Management takes the approach that, regardless of whether times are good or bad, the key determinant of property value enhancement is the manner in which the property is managed.

Specifically, Value Management mandates a proactive, innovative thought process, and a long-term perspective in order to enhance the value of a real estate investment.

Value Management is facilitated through the division of duties among real estate specialists including management, finance and accounting, and personnel, followed by the integration of the specialists' activities by the Value Manager. When necessary, the Value Manager will call on other specialists such as legal counsel, to craft and implement holistic solutions to today's real estate challenges.

My firm has been very successful in utilizing the concept of Value Management to produce extraordinary returns for our customers. Specific examples appear on the following pages.

If, after examining this material, you believe that your property is under-performing and, therefore, requires Value Management in order to enhance value, I hope you will ask us to make a specific proposal for managing your real estate investment.