Vanderbilt Real Estate Holdings in Florida

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real estate serviCes

Development • ConstruCtion • management • leasing • Brokerage
                                            Corporate profile
                                            integrateD asset management

                                            Founded in 1983, Bayer Properties is a pioneer in the development of
                                            lifestyle centers, and is well recognized in the shopping center industry for
                                            The Summit, Bayer’s signature brand of lifestyle center.

                                            In addition to The Summit centers, Bayer also manages a customized
                                            portfolio of retail and office property for private and institutional
                                            ownership. Our goal is to enhance revenue and value for such owners
                                            through our comprehensive services. Currently, Bayer’s portfolio consists of
                                            shopping centers, main street retail projects and office buildings, with over
                                            four million square feet under management.

                                            Bayer has 25 years experience serving buyers and sellers of office, industrial,
                                            retail and land assets with professionalism and integrity. Bayer understands
                                            current and emerging trends, capital markets and other asset value factors.
                                            We use this knowledge to advise our clients on their asset portfolios and
                                            long-term planning.

                                            With this broad range of services, over two decades of experience, and a
                                            proven track record, Bayer Properties has a course set confidently for the
                                            future and leads with vision, creativity and agility. Above all else, our clients
                                            know us for one overarching quality–our integrity.

Birmingham   Louisville   Reno-Lake Tahoe                         Cahaba Village
our team

Jeffrey a. Bayer – prinCipal                                           lenders in connection with the financing of commercial           Jon W. rotenstreiCh – prinCipal
                                                                       real estate projects in Alabama. He joined Bayer as
Jeffrey Bayer holds a Bachelor of Science degree in                    Executive Vice President and General Counsel in 1994.            Mr. Rotenstreich is a financial consultant and private
Business Administration from the University of Alabama.                                                                                 investor through his own firm, Jon Rotenstreich Consul-
He has obtained the Certified Commercial Investment                    Mr. Silverstein is the principal in charge of managing           tants, LLC. From 1993 until April 1999, Mr. Rotenstreich
Member designation (CCIM) and is a licensed Real Estate                Bayer’s relationships with governmental entities around the      was Chairman and CEO of TIG Holdings, Inc., a NYSE
Broker.                                                                country. He is a recognized leader in the Birmingham civic       financial holding company. Mr. Rotenstreich served as
                                                                       community and holds leadership positions with a number           President and Director of Torchmark Corporation, a NYSE
Prior to founding Bayer Properties, Mr. Bayer served as a              of prominent organizations including the Juvenile Diabetes       life and health insurance holding company from 1986 to
partner in Metropolitan Properties, Inc., for 10 years. In             Research Foundation, Operation New Birmingham, the               1991. Mr. Rotenstreich was also President, Chief Executive
1983, Mr. Bayer established Bayer Properties to provide                Kiwanis and the University of Alabama at Birmingham.             Officer and Director of Torchmark’s 85% owned subsidiary,
comprehensive leasing, management, brokerage and                                                                                        United Investors Management Company, now Waddell
development services.                                                  Jill v. Deer – prinCipal                                         and Reed Financial. From 1982-1986, Mr. Rotenstreich
                                                                                                                                        served as Vice President and Treasurer of IBM. He was with
DaviD l. silverstein – prinCipal                                       Mrs. Deer earned her Juris Doctor degree from The                Salomon Brothers, which he joined in 1965. In 1972, Mr.
                                                                       University of Alabama School of Law in 1988 and was              Rotenstreich became a General Partner, and a Managing
David Silverstein received his undergraduate degree from
                                                                       inducted into the Order of the Coif. She earned a Bachelor       Director upon the firm’s incorporation in 1981.
Vanderbilt University and his law degree from Cumberland
                                                                       of Science degree in accounting from the university in
School of Law, where he was a member of the Cumberland
                                                                       1985 and graduated summa cum laude. Mrs. Deer joined
Law Review.
                                                                       Bayer Properties, as General Counsel and Vice President
Mr. Silverstein was a partner in the law firm of Berkowitz,            of Development in 1999 and was named General Counsel
Lefkovits, Isom, and Kushner, joining the firm in 1981                 and Senior Vice President in 2001. She became a principal
and serving as outside counsel to Bayer for seven years. His           in 2002. Prior to her association with Bayer Properties, she
practice concentrated in the acquisition, financing, leasing,          was a partner in the law firm of Burr and Forman, LLP for
management, and development of commercial real estate                  11 years where she specialized in real estate, banking
projects. He frequently acted as local counsel to out-of-state         and finance.

                                                    Jeffrey A. Bayer                  David L. Silverstein               Jill V. Deer               Jon W. Rotenstreich
Development, Design anD
Development for long-term groWth                        ryBurn Bailey
                                                        viCe presiDent of ConstruCtion
The Bayer Properties Development and Construction       A 25-year construction veteran, Ry Bailey oversees Bayer Properties
team has proven itself with efficiency and style in     new and redevelopment construction projects throughout the
major retail and office undertakings across the coun-   country. Mr. Bailey was previously with Brice Building Company
                                                        as the Executive Vice President in charge of the company’s Florida
try. Development and Construction encompasses the       operations and was responsible for over $300 million of
many facets of the management and development           construction from conceptual budget estimating to project
process from budgeting, initial site investigation      completion. His commercial construction experience includes an
and selection process, to designing concepts for new    array of projects including big box retail, strip centers, movie
                                                        theaters, distribution centers, hotels and high rise offices.
                                                        Mr. Bailey is a graduate of Birmingham Southern College and a
Each and every day, facilities maintenance, repairs     native of Birmingham.
and replacements are ongoing for existing projects.
With a centralized team, Bayer Properties is also
poised for timely and efficient repairs, renovations
and expansions of properties.
property management,
leasing anD aCCounting
Professional asset management by Bayer Properties is guided by the desire to           CommitteD to aChieving maximum return
innovate, improve and maximize the property for ownership by creating new
revenue and value through comprehensive leasing, proactive facility management         Bayer Properties is committed to achieving the maximum rate of return on
and disciplined finance and accounting. As the intricacies and techniques of           investments in each property. Thus we concentrate on the most current data
property management grow more diverse, fulfilling the need for professional asset      processing systems available, enabling ownership to have strict control of profits
management also requires a company that is diverse and one that can skillfully         and expenses. The Bayer approach is to tailor accounting practices to fit the needs
execute decisions.                                                                     of the property and those of ownership by providing accurate and timely reporting,
                                                                                       ensuring the proper controls are in place and blending business philosophy with
leasing With loCal anD national Depth                                                  sound accounting principles.

Bayer Properties has assembled a strong leasing team with combined broad,
national experience and retailer relationships.

Current occupancies and rents that out-deliver the market speak highly of the           Curtis furgason
                                                                                        senior viCe presiDent of property management anD leasing
Bayer Properties leasing team. Leasing associates are each focused on a specialty in
retail, office or other uses.                                                           Curtis Furgason has extensive experience with open-air and lifestyle centers and has over 30 years
                                                                                        in real estate and construction managment. Mr. Furgason has worked for two nationally known
Bayer leasing professionals create a winning strategy for each property through:        real estate investment trusts: Weingarten Realty Management of Houston, and Federated Realty
• Prioritizing the needs for each property.                                             Investment Trust of Rockville, Maryland, overseeing a property portfolio of retail, office and
• Precisely negotiating leases to the advantage of both ownership and tenant.           industrial properties. The properties spanned 17 states and totalled more than 43 million square
                                                                                        feet of income-producing real estate.
• Maximizing value for ownership through understanding objectives.
                                                                                        Having joined Bayer Properties in 2000, Mr. Furgason is responsible for a leasing and management
As a result, current occupancy levels are well above industry benchmarks with           portfolio consisting of The Summit projects, shopping centers and main street retail projects as well
impressive occupancies for the retail and office portfolios.                            as Class A office buildings.
Brokerage team
The Bayer Properties Brokerage team is experienced in providing professional
services to owners, landlords, and investors covering a broad range of land assets,
including retail, office, industrial, medical, multi-family, and mixed-use facilities.   irBy Cohen
We maintain up-to-the-minute information on the economic trends of local and             senior Brokerage assoCiate
regional activities that influence occupancy levels, rental rates and asset values.      Irby Cohen has over 30 years of experience in real estate throughout the Southeast. He
                                                                                         served as Senior Vice President of Metropolitan Properties for nine years before joining
Bayer makes a commitment to maximizing return. Sales and acquisitions are                Bayer Properties as Leasing Partner in 1989. Mr. Cohen is a graduate of the Wharton
                                                                                         School of Business of The University of Pennsylvania. He is a Counselor of Real Estate,
evaluated carefully, and are proven to meet or exceed our clients’ needs before          A Certified Commercial Investment Member (CCIM) affiliate member, and Certified
proceeding. By taking current private and industrial capital markets into account,       Leasing Specialist (CLS) of the International Council of Shopping Centers (ICSC). Mr.
we assure that investment sales are structured to meet all our clients’ yield require-   Cohen is a member and past president of both the Commercial Real Estate Sales Club of
ments, either as tenant or as landlord.                                                  Birmingham, and Birmingham Area Board of Realtors.

By virtue of the partnership with Bayer Properties Construction and Design               J. patriCk harWell
Division, the Brokerage Team can also evaluate and structure development                 Brokerage assoCiate
concepts for raw land, redevelopment opportunities, or partially completed               Patrick Harwell specializes in the acquisition and disposition of multifamily, retail and
projects. Bayer Leasing and Managment can serve the day-to-day needs of a                office investment properties, with an emphasis on helping clients maximize their asset’s
property upon completion to ensure long-term success.                                    value while working to obtain their investment objectives. He works with investors on
                                                                                         both a local and national level to assist them in all aspects of real estate investing. Through
                                                                                         his experience of leasing, managing, and renovating investment properties, he assists his
On an ongoing basis, the Brokerage Team offers consultation and evaluation               clients by formulating strategies that maximize the return of each asset. He additionally has
services to our clients. Thus our clients will always be fully aware of the              represented numerous financial institutions in the workout and disposal of REO.
opportunities for their assets, portfolios and long-term planning, as well as feel       He received both his BS and MBA in finance from Auburn University, and is currently
                                                                                         a CCIM candidate. He is a member of the Birmingham Commercial Realtor’s council
confident their properties are always functioning at their highest and best use.         Million Sales Club and is secretary of Birmingham’s Commercial Real Estate Club.
our proJeCts

the summit                                                                                        mixeD-use
The Summit is built around a finely edited mix of retailers, beautiful landscapes, architecture   Our mixed-use properties combine necessities such as grocery and main merchant
and signature events that truly enhances the quality of life in its community.                    retail with unique local tenants, office and residential space. The properties create atmo-
                                                                                                  spheres that allow neighbors to live, work and shop in a convenient, relaxing location.

                                                                                                                                    CahaBa village
                                                                                                                unique boutique village with residential | birmingham, al

                                                                                                  We seek to match a company’s need for office space with a property that creates
                                                                                                  positive working conditions and an ideal professional environment.
2222 arlington avenue | Birmingham, alaBama 35205
       (205) 939-3111 | WWW.Bayerproperties.Com

Description: Vanderbilt Real Estate Holdings in Florida document sample