What's New

Withering Heights: Managing an Aging Building

Wednesday, September 10, 2008, 1:00 – 2:30 p.m. ET
BOMA/Suburban Chicago Office

Much of the existing US Building stock is fast approaching "old age." This webinar will explore the "age spots" and "creaky joints" of mature buildings and offer practical tips for how to plan for capital expenditures, identify cost-saving opportunities to preserve asset integrity, and implement programs to enhance the value of these " old but good" assets.

Learning Objectives:

• Identify market conditions and their impact on asset value

• Learn how to develop an asset management plan for building functions, operations and financials

• Plan and execute capital expenditures and improvements

• Implement and locate operational improvements

Who Should Participate

Property Owners, Property Managers/Owners, Engineers, Architects, Developers and other industry professionals who are interested in learning more about sustaining and preserving asset value in mature buildings.

Speaker: 

Patrick Freeman serves as the SVP and Regional Manager for Wells Real Estate Funds-South, working with a staff that manages over six million square feet of property from Atlanta to Houston. As a 20 year veteran in real estate, Mr. Freeman has been instrumental in the Building Owners and Managers Association (BOMA), including roles as President of BOMA Atlanta, as a member of the Southern Region Board of Directors and as a member of the BOMA International Executive Committee and Chair of the BOMA International Reinventing Education Task Force.

To Register and attend at the BOMA/Suburban Office, click here. 

$15 for attendees from member buildings

$25 for attendees from non-member buildings

For information on registering for this webinar in your own office, click here.

$125 for members

$175 for non-members

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New Course Offers Entry-Level Real Estate Management Education: 'Foundations' brings core management strategies to property professionals

The industry has spoken and BOMA has answered! The demand for practical, core commercial real estate management education for entry-level and up-and-coming property professionals is hotter than ever. BOMA/Suburban Chicago is meeting this demand with the delivery of BOMA International's new Foundations of Real Estate Management, a comprehensive introduction course to commercial real estate. The program covers topics in the areas of administration and management, building systems and operations, accounting and reporting, and contract administration.  

Most new property professionals do not have real estate degrees, and there is a significant learning curve for understanding the basics of commercial real estate management. Also, on-the-job training is often inconsistent and sporadic. Foundations of Real Estate Management responds to these challenges by offering a curriculum that brings students up to speed quickly, supplements on-the-job training, and connects students to a valuable peer network.  

The course is ideal for all property management professionals with less than five years experience, such as junior and assistant property managers and administrative personnel.  Building engineers and supplier members can also benefit from the course and gain a better understanding of real estate management functions and issues. The course seamlessly integrates the broad range of topics that are essential for all property managers. For this reason, seasoned real estate professionals have also found the program to be a helpful refresher. 

The program was originally developed and for the past 3-4 years successfully delivered by BOMA/Atlanta to address the shortage of new, young talent in the real estate industry. BOMA International agreed to revise, update, and repackage the curriculum for national distribution. The 30-hour curriculum is divided into the following five modules:

• Real Estate Administration

• The Well-Versed Real Estate Manager

• Building Operations I

• Building Operations II

• Putting It All Together

According to a Senior Vice President with Wells Real Estate Funds who put several employees through the Atlanta program, “We’ve sent both new and more experienced employees to this training program and the results speak for themselves. Our property management teams are now more effective, more efficient, and make better decisions.”

The first module, “Real Estate Administration,” addresses the most important aspects of property management.  In this module, students will learn about the roles and responsibilities of a property manager; adding value to a real estate investment; strategies for tenant satisfaction; contracting with vendors and suppliers and managing supplier agreements; property characteristics and leasing and marketing strategies; and managing risk and understanding commercial insurance coverages.

Module 2, “The Well-Versed Property Manager,” delves into more complex issues. In this module, students will learn how to develop effective emergency and disaster preparedness plans and programs;  how to manage tenant improvements and capital projects; budgeting, accounting, and business plan development; methods for recovering operating expenses; the due diligence process for buying and selling real estate; and understand OSHA safety requirements, indoor air quality issues, and EPA requirements.

Modules 3 and 4, “Building Operations I and II,” respectively, concentrate on the critical aspects of understanding and managing building operations and systems. Students will learn how HVAC and plumbing systems work; how electricity flows through a building and the various levels of power; work order systems and best practices for managing service calls; types and operations of fire alarm and control systems; reactive vs. preventive vs. predictive maintenance of building facilities and systems; elevator and escalator systems and operations; roofing systems; managing solid waste and recycling; and managing cleaning services and contracts.

The final module, “Putting It All Together,” rounds out the course. Students will learn successful approaches to pest management; types of parking structures and parking management; assuring secure and safe buildings; and understanding and managing landscaping tasks and snow removal. There’s also ample time to meet local BOMA leaders, learn about other BOMA programs and services, and discuss real estate career opportunities.

Building tours are included in each module to reinforce learning. These tours provide participants with a unique opportunity to learn real-world professional management approaches by touring best-in-class examples of properties in the area. For example, students will have the opportunity to meet with the building engineer; see the building’s fire pump, chiller, elevator, and other systems; walk out on the roof; perform a janitorial inspection; learn about the building’s recycling program; and more. This chance to interact with colleagues and discover new resources in a variety of settings is a learning opportunity rarely available in other educational courses.

Foundations of Real Estate Management was recently piloted in Bethesda, Md. and received rave reviews. Students included an administrative assistant, a property manager just two months on the job, and other more seasoned property managers with 1-3 years experience. One student commented, “Not only did I learn about what I need to do on the job, I learned what I need to change right away.”

For more details and a registration form, click here.

                                 BOMA/Suburban Chicago invites you to be part of

The Special Interest Group for property professionals

from Medical Office Buildings & Healthcare Facilities

presenting quarterly programs

designed especially for you

Physician Leasing Issues

presented y Thomas J. McFadden, Partner, Katten Muchin Rosenman LLP

Tuesday, September 23, 2008 - 7:30 a.m. Breakfast, Oakbrook Terrace

Register online by clicking here.

More dates to watch …

Monday, November 3, 2008 - 7:30 a.m. Breakfast, Naperville

These programs are open to property professionals only.  Registration is $20 per event; FREE for members of BOMA/Suburban Chicago. 

For more information, e-mail pats@bomasuburbanchicago.com

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