The document provides an overview of strategies for multifamily owners and operators to grow revenue and reduce costs. It discusses conducting reappraisals annually to ensure accurate property values and equal taxation. The three common approaches to value a property are discussed as the income capitalization approach, cost approach, and sales comparison approach. A three step appeal process is outlined including informal hearings with the appraisal district, formal hearings with the Appraisal Review Board, and the option for judicial appeal or binding arbitration. Qualification requirements and processes for binding arbitration are summarized.
3rd annual Marcus & Millichap / IPA West and Central Florida Multifamily ForumRyan Slack
The document provides demographic information about millennials and renters in the US. Key points include:
- Millennials are now larger than the baby boomer generation at 78.6 million.
- Only 13% of millennials live in urban areas, while 66% live in the suburbs.
- 51% of apartment renters are under 30 and 52% are 30-64.
- The median age of a US renter is now 42.
- The overall US apartment vacancy rate is 8% and the average rent per square foot is $1.37, the highest on record. Renting is popular not just among millennials or just downtown.
Marcus & Millichap / IPA Multifamily Forum: New England Speaker Slide Compila...Ryan Slack
The document discusses development opportunities in outer urban Boston markets like South Boston, Somerville, Jamaica Plain, Newton, and Quincy. It notes factors like development site availability, permitting timelines, infrastructure investment, and neighborhood relationships. It also provides statistics on condo and rental prices and transportation access for each area. Another section analyzes property tax impacts for a portfolio of multifamily properties in New England and mid-Atlantic markets. A table shows property taxes per unit and as a percentage of revenue for properties in Massachusetts, Rhode Island, Connecticut, New York, and Florida.
Marcus & Millichap / IPA Multifamily Forum: San Francisco Bay Area Speaker Sl...Ryan Slack
The document discusses trends in multifamily development and management, including innovative amenities and technologies. Some key points include:
- New amenities such as outdoor theaters, rooftop decks, bike storage, and pet facilities are attracting renters.
- Rent growth in the Bay Area has increased substantially in recent years while development costs have also risen significantly.
- Technologies like smart locks, 3D imaging, and remote concierge services can help properties operate more efficiently and provide enhanced resident experiences.
- On-demand services are becoming increasingly popular compared to traditional expensive amenities for both renters and property owners.
The document outlines the plans for a radio broadcast, including a flow diagram of events, equipment needed such as a dictaphone and studio, and roles for the broadcast. It also notes that the script and guest, John Whittaker played by Brandon, are included.
Colorado is known for its snowboarding and skiing in the Rocky Mountains. It is also home to institutions like the U.S. Mint and the U.S. Air Force Academy. A notable geographic feature is the Colorado River.
3rd annual Marcus & Millichap / IPA West and Central Florida Multifamily ForumRyan Slack
The document provides demographic information about millennials and renters in the US. Key points include:
- Millennials are now larger than the baby boomer generation at 78.6 million.
- Only 13% of millennials live in urban areas, while 66% live in the suburbs.
- 51% of apartment renters are under 30 and 52% are 30-64.
- The median age of a US renter is now 42.
- The overall US apartment vacancy rate is 8% and the average rent per square foot is $1.37, the highest on record. Renting is popular not just among millennials or just downtown.
Marcus & Millichap / IPA Multifamily Forum: New England Speaker Slide Compila...Ryan Slack
The document discusses development opportunities in outer urban Boston markets like South Boston, Somerville, Jamaica Plain, Newton, and Quincy. It notes factors like development site availability, permitting timelines, infrastructure investment, and neighborhood relationships. It also provides statistics on condo and rental prices and transportation access for each area. Another section analyzes property tax impacts for a portfolio of multifamily properties in New England and mid-Atlantic markets. A table shows property taxes per unit and as a percentage of revenue for properties in Massachusetts, Rhode Island, Connecticut, New York, and Florida.
Marcus & Millichap / IPA Multifamily Forum: San Francisco Bay Area Speaker Sl...Ryan Slack
The document discusses trends in multifamily development and management, including innovative amenities and technologies. Some key points include:
- New amenities such as outdoor theaters, rooftop decks, bike storage, and pet facilities are attracting renters.
- Rent growth in the Bay Area has increased substantially in recent years while development costs have also risen significantly.
- Technologies like smart locks, 3D imaging, and remote concierge services can help properties operate more efficiently and provide enhanced resident experiences.
- On-demand services are becoming increasingly popular compared to traditional expensive amenities for both renters and property owners.
The document outlines the plans for a radio broadcast, including a flow diagram of events, equipment needed such as a dictaphone and studio, and roles for the broadcast. It also notes that the script and guest, John Whittaker played by Brandon, are included.
Colorado is known for its snowboarding and skiing in the Rocky Mountains. It is also home to institutions like the U.S. Mint and the U.S. Air Force Academy. A notable geographic feature is the Colorado River.
Santosh Karki - Program Manager Jan 2016 BlueSantosh Karki
The document provides a summary of Santosh Karki's professional experience. He has over 15 years of experience in IT project management, service delivery programs, and people management. Currently he manages a program at Sony India Software Centre with a budget of $2 million and 80 resources. Previously he has managed large programs and projects across multiple domains for companies like Wipro and Mindtree.
GUIÓN CON CANCIONES DEL DOMINGO 6º DEL TO. CICLO B. DIA 15 DE FEBRERO DEL 2015FEDERICO ALMENARA CHECA
El documento es una colección de poemas y oraciones que celebran la comunión y la unidad de la Iglesia como el cuerpo de Cristo. Describe a la Iglesia como un pueblo redimido por la sangre de Cristo que peregrina en la tierra llevando la luz y la paz. A pesar de las tormentas, la Iglesia avanza guiada por el Espíritu Santo con la esperanza de la presencia de Cristo.
Mujeres maltratadas hecho por henar palacios 1º chenarpalacios
Las mujeres maltratadas no denuncian la violencia por miedo a represalias, por lo que una fundación las ayuda separándolas del entorno violento o alejándolas de sus agresores. Si eres víctima de violencia de género, puedes llamar al 016.
The document discusses shortcomings of traditional statistical analysis of molecular biomarker data and advocates for a biology-driven approach. It proposes building active knowledge repositories focused on specific diseases or areas by extracting relevant molecular entities and pathways from databases, literature mining, and integrating experimental molecular profiling data. The repositories would parameterize biological relationships to form statistical models and generate hypotheses to guide biomarker study design and drive multivariate data analysis in a hypothesis-testing framework.
SlideShare es un sitio web que permite a los usuarios subir y compartir presentaciones de diapositivas de manera pública o privada. Los usuarios pueden almacenar presentaciones en diferentes categorías en su espacio personal de hasta 20MB e insertar videos de YouTube. SlideShare también soporta la descarga de presentaciones de otros usuarios en formatos como PDF, PowerPoint y documentos de texto.
This document describes an investment opportunity in multifamily real estate in Brooklyn, New York. It notes that multifamily property values in NYC have reached record levels with capitalization rates around 5%, similar to 2006-2007 levels. The document outlines an investment strategy to purchase distressed, undervalued multifamily properties in Brooklyn, add value through renovation, and sell at higher prices due to continuing low cap rates and strong market fundamentals. It introduces the investment team and describes their experience and strategies for acquisition, repositioning, and disposition of properties.
The document summarizes an investment opportunity in Phoenix, Arizona real estate. It notes that the bottom tier of Phoenix homes is seeing strong demand from investors looking to convert them to rentals. This has created opportunity for investors to purchase discounted homes, rehabilitate them, and sell for a profit. The document outlines the company's approach of identifying suitable properties, controlling costs, and completing rehabs quickly to realize returns for investors. Examples are given of past successful projects yielding profits of $16,500 and $24,500. Investment opportunities ranging from $10k-$65k with secured 8-10% annual returns are described.
Stewart Grounds has over 30 years of experience in real estate financial and operational management. He has held Chief Financial Officer and Vice President roles at several large real estate investment and management companies. His experience includes budgeting, financial reporting, accounting, and operational analysis. He has a proven track record of improving financial performance, streamlining processes, and developing teams.
Michael L. Wilson summarizes his experience managing various commercial real estate assets. He oversaw projects in multiple cities that involved rezoning land for higher uses, renovating buildings to increase occupancy and value, resolving legal issues from prior ownership, and selling properties for gains. Wilson worked with an extensive network of partners including developers, brokers, engineers, and legal counsel to execute strategies that maximized value for properties.
Lawrence Kwock is a certified real estate manager with over 15 years of experience managing properties for AT&T and as an asset manager for a private real estate investment company. He has a proven track record of improving occupancy rates and income from properties, completing capital projects on time and under budget, and successfully selling off real estate portfolios for significant profits. Kwock leads teams, motivates staff, and uses data analysis tools to stabilize and improve business operations.
Angela Chichester has over 18 years of experience managing large multi-family housing communities, ensuring profitability and developing strong resident relationships. She is currently the General Manager of two apartment communities totaling 2,253 units and $36 million in annual revenue. Previously she held roles as Community Manager and Area Community Manager, overseeing portfolios of apartment communities and managing large staffs. She has a proven track record of improving occupancy rates, reducing operating costs, and exceeding financial goals.
James E. Williams has over 25 years of experience in real estate and housing development. He has held leadership roles at several housing authorities and redevelopment agencies where he oversaw thousands of housing units. His experience includes developing budgets, improving occupancy rates, and restructuring organizations. He also has a Master's in Business Administration from the University of Chicago and certificates in public housing management and healthcare administration.
Marcus & Millichap / IPA Southeast Multifamily Forum: Georgia and the Carolin...Ryan Slack
This document contains summaries of multiple presentations on real estate investment trends in the Southeast United States. It discusses factors influencing market selection such as population and job growth; opportunities in secondary and tertiary markets; construction costs and supply projections; financing trends; rent growth strategies; and the potential impacts of recent political changes on the commercial real estate industry. Key amenities driving demand are also listed.
Martha L. Name has over 20 years of experience managing residential properties. She has managed both subsidized and market-rate apartment complexes with up to 310 units. Her responsibilities included supervising maintenance staff, completing capital improvement projects, ensuring regulatory compliance, and resolving tenant issues. She is fully bilingual in English and Spanish and has received several community leadership awards for her work.
Citadel Development partners with investors and real estate professionals to redevelop residential properties in Washington D.C. and yield high returns. It offers various investment options to accommodate different investor needs. The partnership includes defined roles for Citadel Development, real estate agents, title companies, and investors. Citadel uses a process of market research, property selection/acquisition, remodeling/construction, and resale to generate returns typically within 1 year. It encourages repeat investing in ongoing projects for quick returns to reinvest in larger future projects.
Jesse Pena has over 35 years of experience in construction management, having overseen over 30,000 multi-family housing units and 500,000 square feet of commercial construction. He has worked for numerous construction and development companies, taking on roles such as project manager, senior project manager, and construction administration manager. The document provides details on his work history, responsibilities in each role, and examples of projects he has managed.
Terri Dougherty has over 15 years of experience in property management and leasing of apartment communities. She has managed both affordable housing and luxury apartment properties. Her resume highlights leasing 14 apartment homes in one day early in her career. More recently, she has owned an eBay business selling high-end goods where she achieved top seller status with 100% positive feedback. She is seeking a new position with an innovative property management company.
Santosh Karki - Program Manager Jan 2016 BlueSantosh Karki
The document provides a summary of Santosh Karki's professional experience. He has over 15 years of experience in IT project management, service delivery programs, and people management. Currently he manages a program at Sony India Software Centre with a budget of $2 million and 80 resources. Previously he has managed large programs and projects across multiple domains for companies like Wipro and Mindtree.
GUIÓN CON CANCIONES DEL DOMINGO 6º DEL TO. CICLO B. DIA 15 DE FEBRERO DEL 2015FEDERICO ALMENARA CHECA
El documento es una colección de poemas y oraciones que celebran la comunión y la unidad de la Iglesia como el cuerpo de Cristo. Describe a la Iglesia como un pueblo redimido por la sangre de Cristo que peregrina en la tierra llevando la luz y la paz. A pesar de las tormentas, la Iglesia avanza guiada por el Espíritu Santo con la esperanza de la presencia de Cristo.
Mujeres maltratadas hecho por henar palacios 1º chenarpalacios
Las mujeres maltratadas no denuncian la violencia por miedo a represalias, por lo que una fundación las ayuda separándolas del entorno violento o alejándolas de sus agresores. Si eres víctima de violencia de género, puedes llamar al 016.
The document discusses shortcomings of traditional statistical analysis of molecular biomarker data and advocates for a biology-driven approach. It proposes building active knowledge repositories focused on specific diseases or areas by extracting relevant molecular entities and pathways from databases, literature mining, and integrating experimental molecular profiling data. The repositories would parameterize biological relationships to form statistical models and generate hypotheses to guide biomarker study design and drive multivariate data analysis in a hypothesis-testing framework.
SlideShare es un sitio web que permite a los usuarios subir y compartir presentaciones de diapositivas de manera pública o privada. Los usuarios pueden almacenar presentaciones en diferentes categorías en su espacio personal de hasta 20MB e insertar videos de YouTube. SlideShare también soporta la descarga de presentaciones de otros usuarios en formatos como PDF, PowerPoint y documentos de texto.
This document describes an investment opportunity in multifamily real estate in Brooklyn, New York. It notes that multifamily property values in NYC have reached record levels with capitalization rates around 5%, similar to 2006-2007 levels. The document outlines an investment strategy to purchase distressed, undervalued multifamily properties in Brooklyn, add value through renovation, and sell at higher prices due to continuing low cap rates and strong market fundamentals. It introduces the investment team and describes their experience and strategies for acquisition, repositioning, and disposition of properties.
The document summarizes an investment opportunity in Phoenix, Arizona real estate. It notes that the bottom tier of Phoenix homes is seeing strong demand from investors looking to convert them to rentals. This has created opportunity for investors to purchase discounted homes, rehabilitate them, and sell for a profit. The document outlines the company's approach of identifying suitable properties, controlling costs, and completing rehabs quickly to realize returns for investors. Examples are given of past successful projects yielding profits of $16,500 and $24,500. Investment opportunities ranging from $10k-$65k with secured 8-10% annual returns are described.
Stewart Grounds has over 30 years of experience in real estate financial and operational management. He has held Chief Financial Officer and Vice President roles at several large real estate investment and management companies. His experience includes budgeting, financial reporting, accounting, and operational analysis. He has a proven track record of improving financial performance, streamlining processes, and developing teams.
Michael L. Wilson summarizes his experience managing various commercial real estate assets. He oversaw projects in multiple cities that involved rezoning land for higher uses, renovating buildings to increase occupancy and value, resolving legal issues from prior ownership, and selling properties for gains. Wilson worked with an extensive network of partners including developers, brokers, engineers, and legal counsel to execute strategies that maximized value for properties.
Lawrence Kwock is a certified real estate manager with over 15 years of experience managing properties for AT&T and as an asset manager for a private real estate investment company. He has a proven track record of improving occupancy rates and income from properties, completing capital projects on time and under budget, and successfully selling off real estate portfolios for significant profits. Kwock leads teams, motivates staff, and uses data analysis tools to stabilize and improve business operations.
Angela Chichester has over 18 years of experience managing large multi-family housing communities, ensuring profitability and developing strong resident relationships. She is currently the General Manager of two apartment communities totaling 2,253 units and $36 million in annual revenue. Previously she held roles as Community Manager and Area Community Manager, overseeing portfolios of apartment communities and managing large staffs. She has a proven track record of improving occupancy rates, reducing operating costs, and exceeding financial goals.
James E. Williams has over 25 years of experience in real estate and housing development. He has held leadership roles at several housing authorities and redevelopment agencies where he oversaw thousands of housing units. His experience includes developing budgets, improving occupancy rates, and restructuring organizations. He also has a Master's in Business Administration from the University of Chicago and certificates in public housing management and healthcare administration.
Marcus & Millichap / IPA Southeast Multifamily Forum: Georgia and the Carolin...Ryan Slack
This document contains summaries of multiple presentations on real estate investment trends in the Southeast United States. It discusses factors influencing market selection such as population and job growth; opportunities in secondary and tertiary markets; construction costs and supply projections; financing trends; rent growth strategies; and the potential impacts of recent political changes on the commercial real estate industry. Key amenities driving demand are also listed.
Martha L. Name has over 20 years of experience managing residential properties. She has managed both subsidized and market-rate apartment complexes with up to 310 units. Her responsibilities included supervising maintenance staff, completing capital improvement projects, ensuring regulatory compliance, and resolving tenant issues. She is fully bilingual in English and Spanish and has received several community leadership awards for her work.
Citadel Development partners with investors and real estate professionals to redevelop residential properties in Washington D.C. and yield high returns. It offers various investment options to accommodate different investor needs. The partnership includes defined roles for Citadel Development, real estate agents, title companies, and investors. Citadel uses a process of market research, property selection/acquisition, remodeling/construction, and resale to generate returns typically within 1 year. It encourages repeat investing in ongoing projects for quick returns to reinvest in larger future projects.
Jesse Pena has over 35 years of experience in construction management, having overseen over 30,000 multi-family housing units and 500,000 square feet of commercial construction. He has worked for numerous construction and development companies, taking on roles such as project manager, senior project manager, and construction administration manager. The document provides details on his work history, responsibilities in each role, and examples of projects he has managed.
Terri Dougherty has over 15 years of experience in property management and leasing of apartment communities. She has managed both affordable housing and luxury apartment properties. Her resume highlights leasing 14 apartment homes in one day early in her career. More recently, she has owned an eBay business selling high-end goods where she achieved top seller status with 100% positive feedback. She is seeking a new position with an innovative property management company.
In the fourth year of benchmarking, Minneapolis is releasing individual building results for public commercial buildings greater than 25,000 sq.ft. and private commercial buildings 50,000 sq.ft. and greater in size.
The Ever Evolving Real Estate TransactionTom Blefko
The North Pointe Office of Berkshire Hathaway HomeServices Homesale Realty's monthly LIVE in-person/Zoom office meeting covering the following topics: 1. Market share stats through the 3rd quarter, 2. Review of the Agent Plus program, 3. Moove Guru is coming to Homesale, 4. What is and is not in the Build Back Better Act, 5. Lancaster City's proposed lead-based paint remediation program, 6. Desktop appraisals to become a permanent option
The document discusses changes to the real estate transaction process and new services being offered by Homesale Realty. It introduces concierge services to assist clients with utility connections and engage clients over time. It also discusses a referral program where agents can earn additional income by referring other agents. Finally, it provides information on upcoming training starting in mid-November and the full program launch on December 6th.
Marcus & Millichap / IPA Multifamily Forum Washington, D.C. - Speaker SlidesRyan Slack
The document discusses several topics related to real estate development and investment:
1. It provides examples of cap rate analysis for multifamily properties from 2016-2017, showing lower cap rates and IRR with rising interest rates.
2. It summarizes Freddie Mac's 2016 results including purchase volume, units financed, and delinquency rates, and their goals of improving the housing finance system.
3. It provides an overview of the ASB Allegiance Real Estate Fund including their investment focus, assets under management, and examples of properties in their multifamily portfolio.
NJ Future Redevelopment Forum 2017 Reigniting Stalled ProjectsNew Jersey Future
The document summarizes the redevelopment of a blighted 30-year vacant site in Plainfield, NJ into a mixed-use development with commercial and residential components. A 44,000 square foot warehouse was constructed for ABC Supply and 90 affordable housing units will be built utilizing low-income housing tax credits. The project overcame challenges like environmental issues and negotiated approvals from the municipality within one year by utilizing tax incentives and financing tools. Coordination between the developer, municipal bodies, funding institutions, and state agencies was required to successfully execute the redevelopment within an aggressive timeline.
This document discusses the pros and cons of buying duplex investments. It begins by introducing Rick Stapleton from BuilderBuilder and outlines their 20 years of industry experience focusing on investor stock. Various duplex investment strategies, financing options, and potential outcomes are presented. Specific duplex opportunities currently available through BuilderBuilder in Queensland and New South Wales are provided as examples. Key services offered through a Real Estate Investar concierge program that partners with BuilderBuilder are also summarized.
Similar to Marcus & Millichap / IPA Multifamily Forum: Dallas-Fort Worth (20)
This document provides a summary of an engineering tax services presentation. It discusses various tax strategies and incentives including cost segregation studies, energy tax credits under 179D and 45L, and the new IRS tangible property regulations. Cost segregation allows for accelerated depreciation by reclassifying portions of real property as personal property. Energy tax incentives provide deductions or credits for energy efficient commercial buildings. The presentation also reviews potential impacts of proposed Trump tax reforms and provides case studies on clients who benefited from these engineered tax strategies.
Marcus & Millichap / IPA Multifamily Forum: New England 2017 - Speaker SlidesRyan Slack
This document discusses several topics related to real estate development in Boston, including:
1) Mid-luxury multifamily developments between 10-15 stories that offer efficient floor plans and amenities at a price point between $850-$1200 per square foot.
2) Place-making approaches to designing public spaces that promote community health, happiness, and well-being.
3) A developer discusses how increasing building heights by one floor could increase units by 20% and discusses related feasibility considerations.
This document discusses emerging trends in real estate technology and their implications. It covers how technology is impacting the hotel industry through augmented and virtual reality for property research and major booking sites. It also discusses the growth of the Internet of Things and how real estate can leverage mobility data and the growing millennial workforce. Real estate investment and development trends incorporate new technologies like building automation, LED lighting, and virtual reality design collaboration.
Speaker Slides - Emerging Trends Summit Ryan Slack
This document discusses emerging macro trends in real estate, including experiential real estate focusing on amenities like art, dining options, and outdoor spaces. It also discusses workplace trends like increased employee mobility and underutilization of office space. Technology trends are discussed like augmented and virtual reality in hotels. Other trends mentioned include emphasis on wellness in workplaces with gyms and collaboration spaces over individual offices, as well as prevalence of mobile applications and internet of things devices. The growth of shared office spaces like WeWork across many US cities is also noted.
The document discusses the redevelopment of 180 Maiden Lane in New York City. It describes how the previous owner's stalled redevelopment plan was dramatically enhanced. A $50 million capital plan was implemented by MHP Project and Asset Management teams on a strict timeline. The transformative renovation of the base building and amenities was completed ahead of schedule and on budget.
New Trump Administration Updates: Federal, State and Local Energy & Specialt...Ryan Slack
This document summarizes a presentation by Michael F. D'Onofrio on various tax strategies including cost segregation, energy tax incentives, and changes to tangible property regulations. The presentation covers topics such as 179D energy tax deductions, cost segregation studies to accelerate depreciation, abandonment credits, and the new tangible property regulations. It provides examples of cost segregation results for a medical clinic and energy tax deductions for various property types such as offices and hotels. Learning objectives are also listed for topics like cost segregation, energy incentives, and the tangible property regulations.
Speaker Slides - RealInsight New York Multifamily SummitRyan Slack
This document discusses emerging trends in multifamily housing and innovations for the next housing cycle. It notes that amenities like larger fitness areas, lounges, and pet-friendly policies will be important. Technologies like smart home devices, property management systems, and sustainability features like co-generation and electric vehicle charging will also be valuable. Maintaining affordability through product type and neighborhood will be key. The document also summarizes perspectives from industry professionals on capital raising challenges but continued demand, pursuing off-market and distressed deals, structured returns, and partnering with sponsors.
Afternoon Keynote - Lindsay Eichner Kraus & Bruce EichnerRyan Slack
The document describes a new building project located at 45 East 22nd Street in New York City. It will be the tallest building in the Flatiron District at 777 feet tall and 65 stories, transforming the downtown skyline. The glass tower was designed by Kohn Peterson Fox and will contain 82 apartments and 230,000 square feet of space.
Increasing NOI & NAV with Smart Building Technologies & Intelligent DataRyan Slack
This document outlines various energy efficiency and sustainability projects that can be implemented at a multifamily property, along with their expected financial impacts. It lists 5 projects: 1) real-time energy monitoring and training, 2) LED lighting upgrades, 3) wireless controls, 4) combined heat and power, and 5) solar/battery storage. For each project it provides the estimated net operating income increase, capital expenditure, net asset value increase, and payback period. Implementing these projects could result in annual energy savings of $250,000 and increase the property's net asset value by $3.5 million.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise boosts blood flow, releases endorphins, and promotes changes in the brain which help enhance one's emotional well-being and mental clarity.
The document appears to be a presentation on the state of the New York City real estate market. It includes charts and data on the number of properties sold, total dollar volume, average price per square foot, and capitalization rates for Manhattan and the outer boroughs. There are also sections analyzing data for multifamily buildings as a whole, as well as broken down into elevator and walk-up buildings specifically.
Special Presentation - Christopher Ballard of UBER Southern CaliforniaRyan Slack
Uber is a ridesharing company that aims to provide reliable transportation everywhere for everyone. It operates in over 500 cities worldwide. Ridesharing is growing rapidly and is projected to account for 25% of all vehicle miles by 2030. Uber has partnered with various real estate developers, retailers, and municipalities to provide transportation solutions and promote their businesses. It sees continued growth and innovation in connecting communities through ridesharing.
Marcus & Millichap / IPA Multifamily Forum Southern California - Speaker SlidesRyan Slack
This document provides a summary of a presentation on the future of parking and transportation. It discusses trends showing that parking takes up a large amount of land in Los Angeles but cars are parked 96% of the time. Self-driving cars and shared mobility options may reduce parking needs. Studies show that actual parking demand at transit-oriented developments is lower than estimates. Shared mobility reduces private car ownership. Automated parking structures can use 40% less space and have other benefits. The presentation then discusses an adaptive garage concept and concludes with shared mobility trends.
National Multifamily Housing Council Presentation - Matthew Berger of NMHC Ryan Slack
The document discusses the timing and priorities for tax reform. It notes that passing a bill by the end of 2017 would be aggressive and Secretary Mnuchin sees August as not realistic. Key multifamily tax priorities include protecting flow-through entities and preserving deductions. Proposals from Republicans and Trump would lower rates but impact affordable housing without changes to protect programs like LIHTC. The outcomes of tax reform are unclear and will depend on issues of revenue neutrality, sunset provisions, and business provisions.
Marcus & Millichap / IPA Multifamily Forum Houston - Speaker SlidesRyan Slack
This document contains summaries of recent real estate financing deals, property tax rates in Houston and other Texas cities, strategies for boosting net operating income, and an overview of an opportunity to acquire and renovate the City West Apartments in Houston. It discusses the value-add opportunity at City West through renovations and operational improvements to increase occupancy and rents. The acquisition is seen as providing a 21.7% 5-year internal rate of return through revenue growth, expense reductions, and unit renovations to command higher rents.
NAIOP Golden Shovel Competition - Travis Duncan of Stanford UniversityRyan Slack
The Cardstone Group is proposing converting an existing industrial property into a makerspace through a phased redevelopment approach. They analyzed the property's highest and best use and determined a makerspace would increase the net present value by 25% to $124 million. Their proposal includes phasing 50% of the net leasable area to makerspace tenants by 2022, with financial projections showing increased net operating income and positive cash flows through 2030. The proposal aims to earn city support by diversifying jobs, reducing truck traffic, and improving public spaces, while an evergreen provision in the memorandum of understanding helps mitigate risk.
2016 NAIOP Golden Shovel Challenge - Jeffrey Bean of UC BerkeleyRyan Slack
The document discusses a proposed mixed-use development called Centennial Village on a 20-acre site in South San Francisco. The development would include 549 residential units and 351,000 square feet of office space. It provides details on the development timeline, revenue assumptions, costs, and projected returns. The proposed development aims to maximize the value of the site while maintaining existing relationships and features transit and trail access with the goal of creating a model for transit-oriented mixed-use development in the area.
Cal-Stanford Development Showdown - Dennis Williams of NorthmarqRyan Slack
The annual Real Estate Challenge is a competition between UC Berkeley and Stanford University that has been held since 1990. Over 40 schools now participate in similar challenges nationwide. The Challenge involves student teams developing proposals to redevelop a sponsor site based on criteria like the development strategy, meeting city plans, creativity, and presentations evaluated by a jury of industry professionals. Since its inception, Berkeley has won 15 challenges against Stanford's 12 wins. Many past challenge sites have seen successful redevelopment following the student proposals.
Uncertainty and Fundamentals Driving Capital Decisions - Keynote David Bitner...Ryan Slack
The document provides a summary of the U.S. economic and commercial real estate outlook from Cushman & Wakefield for April 2017. It discusses how 2017 started slowly with rising capitalization rates and decelerating price returns. U.S. investment sales volumes in the first quarter of 2017 were down 42% and 18% compared to the first quarter of 2016 for single asset and portfolio deals respectively. The summary explores reasons for the slow start to the year including general uncertainty in the economy, real estate cycle, and their interplay with politics.
3rd annual EisnerAmper Real Estate Private Equity Summit West Speaker SlidesRyan Slack
Bob Gray discussed trends impacting the real estate market including demographics, construction financing, development costs, interest rates, coworking, and technology. Diane Olmstead highlighted California's housing crisis with statistics on homelessness, unaffordability, and the impact on the economy. Paul Kaseburg discussed renovation considerations for value-add and repositioning opportunities including hold period, upgrades, IRR, exit caps, risk, and timing of renovations. Preston Sargent summarized four common investment strategies - core, core plus, value-add, and opportunistic - in terms of leverage, income, total return, and Bailard's approach to core plus. Tom Hoban discussed using technology to improve apartment
Discover Yeni Eyup Evleri 2, nestled among the rising values of Eyupsultan, offering the epitome of modern living in Istanbul.
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Social Amenities:
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Project:
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Location:
Your home is positioned in a privileged location, providing easy access to the city center, shopping malls, restaurants, schools, and other important places.
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BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...knox groups real estate
welcome to knox groups real estate company in Bangalore. best farm land for sale near Bangalore and madhugiri . Managed farmland near Kanakapura and Chickkabalapur get know more details about the projects .Knox groups is a leading real estate company dedicated to helping individuals and businesses navigate the dynamic real estate market. With our extensive knowledge, experience, and commitment to excellence, we deliver exceptional results for our clients. Discover the perfect foundation for your agricultural aspirations with KNOX Groups' prime farm lands. These aren't just plots; they're the fertile grounds where vibrant crops flourish, livestock thrives, and unique agricultural ventures come to life. At KNOX, we go beyond selling land we curate sustainable ecosystems, ensuring that your journey toward agricultural success is seamless and prosperous.
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2. Surviving the Inevitable
•Property Differentiation
•By Design or Theme
•By Extended Services
•By Location
•By Amenities
•By Activities
•Flexible Budgeting
•Balancing Rents and Staffing Levels
•Resident Retention vs New Leases
•Cash Flow vs Valuation
•Plan from the Start
•Zeroscape Landscaping
•Energy Efficiency
•Project Positioning
Author: Rick Williamson
3. Author:
New Development on the Brink of Change
LYND
• 30,000+/- units in current portfolio
• $2B transacted
• 16 states/50 metros
• Over 800 employees
• New MF developments in Denver, Austin,
SA, Houston & Dallas
DALLAS MARKET
• Continual demand in both urban and suburban
locations
• Next income bracket renters
• Growth & Jobs – spread out employment hubs
across the metro
• Hot Dallas Submarkets – Plano, Frisco,
McKinney, Downtown, Uptown, Farmers Market
and Transformative Markets – Trinity Groves,
Victory, Bishop Arts
• The Bowie, Austin, Texas
• MFE Merit Award, High Rise of the Year, 2016
• Certified LEED Silver & Austin Energy Green
Building Program Three Star Rating
• Joule, Denver, Colorado
• LEED Certified
• Lynd at Industry, Denver, Colorado
• Coming Soon - 4Q 2017
4. Recent Financings
Construction, 124 Unit Apartments in Vancouver, WA
Term: 15 Months
Rate: 9.99% and 3.5 points
Construction, Mixed Use Project in Portland, OR
Term: 24 Months
Rate: 9.49% and 4.5 points
Construction, 55 Unit Apartments in Sacramento, CA
Term: 24 Monhts
Rate: 10.99% and 3.50 points
Author: Paul Rahimian, Parkview Financial
5. Twin Creeks Crossing-Phase 1
Land Area: 14.26 acres
Density: 24.35 DU/Acre
Avg. Unit sf.: 875 sf
Total Net leasing: 303,871 sf
Total Hard Costs: $30,205,000.00
Cost/Net SF:$100.00 sf Phase 1
Cost/Net SF:$109.00 sf Phase 2
Author: Erik Earnshaw
6. 11:00 AM – Track A
Runaway
Train: Managing Costs
of Construction
through Good
Management & Design
7. Case Study – Bridges of Cypress Creek
Property: Bridges of Cypress Creek
Location: Houston, TX
Vintage: 1980
# Units: 314
Purchase price: $9.0 million
Rehab Budget: $2.5 million
Investment Thesis: The Property was located in
a Houston submarket we knew well and was
deeply distressed. There were ~100 down units
and significant deferred maintenance.
Renovation: Upgraded the 100 down units with
modern finishes, Hardi siding replacement,
exterior paint, amenity enhancements, new
branding.
Outcome: Property is currently occupied at 93%
with rents increased >40%; we refinanced the
asset in month 18, returning ~40% of investment
capital.
Before & After - Exteriors Before & After - Interiors Notes
8. Page is a 500 person architecture and engineering firm that offers the
following services through multiple offices in the U.S. and abroad:
Architecture / Engineering / Interiors / Planning / Consulting /
Commissioning / Programming / Sustainability
Page has designed more than 3,300 multi-family units for AMLI over the
last 10 years.
Our award winning projects have received national recognition. One
recent example:
AMLI Mueller - Multi-Housing News Gold Award for
Low-rise Developments
Author: Talmadge Smith
9. 11:00 AM – Track B
Changing
Faces: Raising Capital
for Today’s Real Estate
Deals
10. Author:
Rastegar Equity Partners is a Value-Add Commercial Real
Estate firm investing in income-producing recession-
resilient assets throughout the United States.
Headquartered in Dallas, Texas, the firm offers high quality
real estate portfolios designed to mitigate downside risk
while generating substantial annual cash-flow and
maximizing upside exposure.
Ari Rastegar
11. Pennybacker Capital, LLC
DFW Case Study – Value Add Reposition – JV Equity
• Complex, situational opportunity to acquired 482-unit, Class B multifamily
property from distressed seller.
•Acquired for $38k/unit (3.5% cap rate), $20k/unit in capex, and $58k/unit
all-in (9.5% return on cost).
•Purchase price 25-35% discount to market value. Rents 25-40% below
market.
•Funded $19M to close all-cash in 17 days. Refinanced 34 days later with
bridge debt at 73% LTC, L+590, 3+1+1, 36 mo I/O, then 25-yr am.
•Cured extensive deferred maintenance, incentivized management, and
rehabbed 77% of units.
•Raised NOI by 354% over 24 months.
•SPE recapped in month 25 at $81k/unit valuation (5.9% cap rate). Fund
realized 46% IRR and 2.4x.
•New SPE: 92% LP/8% GP, 79% LTPP agency financing.
Author: Tim Berry
12. ReadyCap Commercial
ReadyCap Commercial
• Non-bank lender
• Offering small-balance commercial real estate financing
• Nationwide
• Products include
Commercial and Multifamily
Freddie Mac SBL Seller / Servicer
Bridge
SBA 7(a)
• Subsidiary of Sutherland Asset Management, a publicly traded REIT
• Operation Centers in
Dallas, Texas
New Providence, New Jersey
New York, New York
Author: Jim Going
13. Northwestern Mutual Apartment Portfolio
• Portfolio size: $4.1 billion (46.1% of equity portfolio)
• Total Apartment Units: 17,500
• Property Count: 59
• Stable units: 13,900 (46 properties)
• Average occupancy: 94.7%
• Average age: 6.6 years
• Units under development or in lease-up: 3,600 (13 properties)
• Assets located in 20 states
• Largest exposure: CA (25.6% of apt portfolio on MV basis)
• Examples of Dallas Regional Apartment Projects:
• Dallas, TX: Knox Heights (Trammel Crow-Partner)
• Denver, CO: To be Announced (Embrey-Partner)
• Houston, TX: Gables West Ave (Gables-Partner)
• Kansas City, MO: Summit Fair (Northpoint-Partner)
• Dallas, TX: L2 (JLB-Partner)
• Chicago Sinclair (Fifield-Partner)
Author: Roger Davis
14. 11:00 AM – Track C
The Art of
Underwriting a Value-
Add Acquisition
16. Nevada 16 $45,184,856
Arizona 3 $8,804,817
California 4 $11,030,036
Tennessee 2 $6,928,163
Texas 3 $10,256,588
28 $82,204,461
Nevada 4 $8,210,024
California 5 $20,216,040
Texas 2 $9,160,000
Colorado 2 $11,836,740
13 $49,422,804
Renovation dollarsNew Properties
Renovation dollars
2015 Bascom New Acquisitions
TX 2 NV 4 CA 5 CO 2
New Properties
2016 Bascom New Acquisitions
NV 16 AZ 2 CA 4 TN 2 TX 2
13 New Properties
28 New Properties
22
5
4
16
2
2
2
4
17. PROJECT SELECTION: Feasibility assessments, due diligence, creation of the
"vision" for the property, and quick turnaround enable our clients to select and
move quickly on the best projects for maximum ROI.
PROJECT ACCOUNTING: Progress draws, accounts payable and working
capital management, contractor and vendor on boarding, direct purchasing,
detailed budget tracking/reporting and project close out services keep
projects on budget.
PROJECT MANAGEMENT: Our Construction Managers follow sound
communication policies and hands-on construction management
methodologies and processes that hold everyone accountable for project
success with regard to SCOPE, BUDGET and SCHEDULE.
19. 11:50 AM – Track A
Under the
Radar: Value-Add
Redevelopment
Strategies & Emerging
Markets across DFW
20. The Element, 5124 Live Oak, Dallas, TX
BEFORE AFTER
East Dallas Apartment Building: 23 units
Purchase Price: $950,000
Equity Invested: $500,000
Renovation Cost: $650,000 / $28k per unit
Stabilized Basis: $1,600,000
Sale Price: $2,300,000
Total Profit: $700,000
Rents: Before: $500/mo, all bills pd / After: $1,000/mo + electric
Rent Post Remodel: $1.50/sf
Author: Grant Guest, Perry Guest Companies
24. Texas Important Property Tax Dates
If a deadline falls on a weekend or legal holiday, the last day to file is automatically extended to the next business day:
May 1 Real Property Notices of Appraised Value typically mailed.
May 31 Deadline for filing written protests to the Appraisal Review Board (or by the 30th day after a notice of appraised
value is mailed to the property owner, whichever is later.)
July 25 Chief Appraiser certifies Appraisal Rolls.
August The taxing districts hold public hearings on their budget.
September The taxing districts adopt their budget and tax rates.
October Property tax statements are usually mailed the first week in October.
December 31 Mortgage companies generally pay by December 31.
January 31 Last day to pay property taxes without penalty and interest of following year.
January 1 Date that determines taxable and exemption status.
January 31 Current year property taxes due by January 31.
February 1 All unpaid property taxes become delinquent. The schedule for penalty and interest is as follows:
February 7%
March 9%
April 11%
May 13%
June 15%
April 30 Deadline to make application for many types of total exemptions, including Agricultural or “Ag” exemption.
25. COMMERCIAL REAPPRAISAL
• Undertaken January 15th – April 15th
• Insure accurate and equitable values
• By law each property must be reappraised at least once every
three years.
26. REAPPRAISAL
• Mass appraisal is the systematic appraisal of groups of
properties as of a given date using standardized procedures and
statistical testing.
• Texas Property Tax Code requires appraisal districts assign a
January 1 value to all property.
• Mass appraisal provides the ability to accomplish such a large
task.
• Annual reappraisal effort is where the mass appraisal process
occurs.
28. The impact of these assumptions on
the resulting value indication plays a
crucial role in understanding the
appraisal district’s value position. For
this reason, Cantrell McCulloch obtains
a digital version of the appraisal
district’s commercial worksheets and
exports the data to a proprietary
software application for comparison to
the subject’s actual operating history.
The unique insight gained from this
data provides a benchmark from which
all negotiations begin. It not only
identifies inaccuracies relative to the
subject’s actual operating performance,
but also allows us to seek common
ground on any appraisal district
assumptions deemed favorable to our
client’s tax position.
Income Capitalization Approach – This is the
most common valuation approach utilized by
appraisal districts in a mass appraisal of multi-
family properties. The basic elements of this
approach include: estimating the potential gross
income on a stabilized basis; estimating a proper
allowance for vacancy and collection loss;
estimating anticipated fixed and variable
operating expenses (including a reserve for
replacement of depreciable components); and
capitalizing the income stream into an indication
of value by using market-derived capitalization
rates.
The data necessary to complete the preceding
steps is delineated on the appraisal district’s
commercial worksheet as follows:
• Potential Gross Income (PGI)
• Vacancy Allowance (%)
• Operating Expense Ratio (%)
• Net Operating Income (NOI)
• Capitalization Rate (OAR)
30. • Uniform and Equal Protest – Allows for value corrections to be made “if the appraised value of
the property exceeds the median appraised value of a reasonable number of comparable
properties appropriately adjusted.” When a recent sale has occurred, this often is the only
line of defense in the appeal process. If a conflict exists between taxation at market value and
equal and uniform taxation, equal and uniform taxation prevails. The uniform and equal protest
puts taxpayers on equal footing regardless of market value or sale price.
32. 3 Steps to the Appeal Process
1. Informal Hearing. Where Consultants attempt to settle “informally”. Most
appraisal districts make a good faith effort to reduce many protests at the informal
meeting. This step is successful the majority of the time. Approximate timeframe:
May 1 – July 1.
2. Formally. Through the Appraisal Review Board (ARB). Typically the more
respected consultants have hearing dates that are usually later in the process
allowing them to compare “settled” values vs. comparing to “notice” vales.
Results can vary depending on the board members at your hearing. Approximate
timeframe: July 1 – July 15.
3(a) Judicially. With a lawsuit. You must file within 60 days of receipt of ARB value.
Appraisal Districts are highly reluctant to take a market value or an equity case to
court. Almost all cases that end up in court are a result of a law or a procedural
situation. Success rate is high when settling a value during this process.
Approximate timeframe: Typically October – January (but for Harris County,
could take until the following tax year values are debated and/or a two year
lawsuit becomes necessary).
3(b)Arbitration. Must file within 45 days of receipt of ARB value and overall value
must be less than $3 million. Results are binding and if taxpayer is successful,
minimal cost involved. This appeal process has not been used often but with
recent changes to the law, will become more prevalent.
33. Property Tax Binding Arbitration for Property Owners
Tax Code Chapter 41A gives property owners meeting certain criteria the option to request binding arbitration as an alternative to filing an
appeal of an ARB decision to district court. In binding arbitration, an independent, neutral arbitrator hears and examines the facts of an appeal
and makes a decision that is binding on all parties.
To qualify for binding arbitration, a property owner must file a Request for Binding Arbitration, together with the required deposit payable to the
Comptroller’s office, with the appraisal district within 45 days of receiving an ARB order of determination.
The chart below indicates the amount of property owner deposit required and the amount of arbitrator fee allowed based on the type of property
and the ARB’s determination of the property’s market or appraised value.
Arbitration Deposit and Arbitrator Fee Schedule
(Effective Sept. 1, 2015)
If the property owner wins the dispute (the arbitrator sets a value for the property nearer to the owner’s opinion of value than the ARB’s determination as shown
on the request form), the property owner will be refunded his or her deposit less the Comptroller’s $50 fee for administrative costs. The appraisal district is then
required to pay the arbitrator’s fees. If the arbitrator’s assigned value is not nearer to the owner’s opinion of value than the appraisal district’s value, the
arbitrator is paid from the property owner’s deposit. If the arbitrator charges less than the full deposit, any remainder will be refunded to the property owner.
Regardless of the outcome, including withdrawal of your request or denial of your request, the Comptroller’s office retains $50 of the deposit for administrative
costs.
Property Type Appraised or Market Value Deposit Arbitrator Fee
Not residence homestead $1 million or less $500 $450
Not residence homestead More than $1 million but not more than $2 million $800 $750
Not residence homestead More than $2 million but not more than $3 million $1,050 $1,000
35. Reasons To Thoroughly Evaluate
Your Property Tax Assessments
Everyone in the industry has a basic
understanding of the traditional approaches to
market value. However, it’s the nuances of
these techniques and how they are utilized to
formulate the most effective property tax
appeal strategy
36. Benefits of Using a Consultant
• Timing of presentation to Appraisal District.
• Comparing Final values versus Notice values.
• Understanding of how the process works and knowing the
Appraisers on more of a personal level.
• Working with Senior Appraisers that have more decision making
authority versus less experienced Appraisers.
37. Aggregate Tax Rates for
Select Texas Cities
All but Harris County tax rates for 2016 have been finalized with all other owners having
received their tax bills with taxes due January 31, 2017. Tax rates for the DFW area and across
Texas have generally remained stable the past two years.
Although most rates remain flat, property tax assessments continue to rise as cap rates and
interest rates both remain at or near historic lows coupled with stronger NOI’s across all classes.
Sales for 2016 continue at high levels pushing appraisal districts to try and keep pace with
values. For Dallas County same store multifamily, overall 2016 notice values increased
25.4% and after protests, certified final values settled in at 13.9% above 2015 values. This
same increase in assessment values is typical for 2016 across most all Texas’ counties.
Cantrell McCulloch, Inc. (CMI) specializes in the representation of multifamily properties
across Texas and nationally. Currently, CMI represents multifamily properties consisting
of 200,000 +/- units at a value in excess of $11 billion. CMI also represents property
owners on all types of real estate and business personal property taxes across 35 states.
38. Select Texas City Aggregate Rates
CITY
2007
RATE
2008
RATE
2009
RATE
2010
RATE
2011
RATE
2012
RATE
2013
RATE
2014
RATE
2015
RATE
2016
RATE
Arlington 2.562277 2.549857 2.549567 2.612537 2.594367 2.589867 2.581567 2.637507 2.702349 2.661507
Austin 2.153100 2.178700 2.206400 2.316900 2.382300 2.419046 2.463200 2.379800 2.296081 2.230141
Corpus Christi 2.462445 2.482138 2.552628 2.595309 2.583598 2.583597 2.566544 2.543272 2.538328 2.524600
Dallas 2.514757 2.507730 2.621455 2.658141 2.711117 2.730759 2.7325885 2.742960 2.741835 2.719289
Frisco 2.131984 2.148993 2.183800 2.181300 2.208210 2.248209 2.243053 2.236960 2.226960 2.199617
Ft Worth 2.710277 2.761857 2.826567 2.826567 2.837867 2.837867 2.838397 2.838397 2.868397 2.833027
Houston 2.528716 2.523700 2.523700 2.524231 2.529233 2.529220 2.558961 2.570649 2.535164 2.528563
Lubbock 2.120748 2.136210 2.139638 2.149288 2.166938 2.200317 2.211260 2.223584 2.254214 2.250733
Plano 2.073884 2.105893 2.145800 2.168300 2.188300 2.188299 2.262743 2.253560 2.234560 2.207217
San Antonio 2.536775 2.556534 2.560295 2.606766 2.635384 2.692911 2.693339 2.705675 2.698045 2.822495
Tyler 1.830109 1.830109 2.004890 2.080731 2.089981 2.106198 2.118490 2.124926 2.124926 2.134926
Waco 2.566484 2.761215 2.773614 2.771546 2.764311 2.777200 2.817855 2.814295 2.781249 2.850423
Cantrell McCulloch, Inc. (CMI) represents property owners on all types of real estate and business personal property taxes across
Texas with total value under representation for 2016 in excess of $18 billion.