In its simplest form the Paradigm Asset Manager's primary role is to engage, manage, motivate, and coordinate a myriad of real estate professionals, many of whom have disparate administrative styles, managerial goals, and economic incentives, to perform a multitude of tasks and activities with the singular objective of driving the asset to its highest possible investment performance given the market conditions.

And that's just the beginning. What transpires from there requires seasoned expertise in investment management, asset capitalization, market analysis, business plan development, accounting, reporting, debt management and restructuring, property management, market positioning, leasing management, lender relations, investor relations, and asset disposition.

Specifically, that expertise gets translated into a variety of transitional and on-going responsibilities performed by the Paradigm Asset Management Team. These responsibilities generally fall into three key areas:

• Financial Management
• Facilities Management
• Marketing Management

Below is a breakdown of some of the tasks our Asset Management Team typically performs on behalf of our clients.

FINANCIAL MANAGEMENT

Transitional Responsibilities:

• Review (or work with owner to determine) owner's investment strategy and review coinciding pro forma assumptions and issues to determine current relevance to market conditions and investment strategy.
• Perform property/market analysis, develop business plan based on analysis, and make market positioning/repositoning recommendations accordingly.
• Prepare and analyze a Summary of Debt, Key Dates, and Loan Covenants (as applicable) for use in managing capitalization of asset.

On-Going Responsibilities:

• Develop annual plan for implementing the investment strategy and maximizing value; communicate plan to team to set the tone for the coming year. Monitor and benchmark progress at least monthly.
• Gather leasing activity data for comparable properties on a quarterly basis.
• Work with property management team to develop annual budget. Compare budget to original pro forma as available. Provide updated pro formas and cash flows as needed.
• Review asset valuation (including updates from sales and leasing brokers and update of valuation model) on quarterly basis.
• Make Hold/Sell recommendations.
• Oversee loan compliance issues with regard to lease approval, escrow draws (including tax, insurance, capital reserve, and leasing reserves), and reporting requirements.
• Monitor upcoming investor distributions and communications to ensure distributions and expectations account for upcoming maintenance projects, tenant/lease turnovers, property improvements, etc.
• Compile, review, and distribute monthly and annual reports to ownership as necessary.
• Manage the disposition of the asset through the following activities: identify, interview, and engage sale broker and legal counsel, review asset offering materials, oversee preparation and negotiation of purchase and sale contract, facilitate buyer's due diligence, obtain Ownership approval, coordinate loan payoff, execute sale.

FACILITIES MANAGEMENT

Transitional Responsibilities:

• Review and assess all facilities and environmental issues as they relate to property management and owner's investment strategy.
• Select and oversee appropriate property management team with strengths specific to property requirements and investment/disposition strategy.
• Prepare Key Dates and Information Sheet/Action Agenda to anticipate and ensure seamless operation of property related issues.
• Develop property management strategy for use by team.

On-Going Responsibilities:

• Oversee property management team to ensure cost effective property operations.
• Lead monthly asset review meetings with property management, accounting, marketing, and leasing teams to oversee operational, financial, and tenant-related aspects of property management. Review all monthly reports.
• Review and approve all significant projects even if pre-approved in budget. Confirm conformance of capital expenditures with investment goals (sale plans, refinancing, etc.).
• Oversee any significant project issue that could significantly impact investment (legal, taxes, zoning, etc.).
• Maintain Key Dates and Information Sheet/Action Agenda to anticipate and ensure seamless operation of property related issues.

MARKETING MANAGEMENT

Transitional Responsibilities:

• Review and understand all lease assumptions and compare to current market conditions and investment strategy.
• Create annual lease expiration schedule to anticipate renewals and limit transitional vacancies as much as possible.
• Develop marketing and leasing strategy to coincide with current owner investment strategy.
• Identify, interview, and engage brokerage team to market the property in a manner consistent with investment strategy.
• Develop positioning strategy for use by leasing brokerage team.

On-Going Responsibilities:

• Review proposed new-tenant lease terms to ensure compliance with budget assumptions and investment strategy.
• Review tenant credit.
• Make lease approval recommendation to ownership (or approve if within delegated authority).
• Oversee and evaluate the funding of brokerage commission and suite improvements to ensure compliance with pro forma assumptions regarding lender escrows, operating cash flow, and/or capital calls to investors.
• Monitor and assess market conditions as rationale for recommendations regarding leasing and disposition strategies.
• Maintain annual lease expiration schedule to proactively anticipate renewals and limit transitional vacancies as much as possible.
• Closely manage the brokerage team's development and use of marketing materials.
• Closely monitor co-broker listing deals and communications to ensure appropriate incentive structure for brokers representing prospective tenants.
• Make sure brokers showing available space have the seniority and understanding required to show it well.
• Make sure all brokers on the team understand and use the selling points of the building (as defined by the positioning strategy) and follow a choreographed showing plan to convey these points.
• Send letters from Paradigm to prospective tenants as a follow-up to showings.
• Hold monthly meetings with sales broker to review all deals in the competitive market that occurred over the past month to ensure that the leasing team's prospecting activity is engaging all prospective tenants.
• Closely monitor leasing comparables and competitive asking rates to ensure continued relevance of property leasing strategy.