Management Services
Goodrich Management Corp. ("GMC"), the management subsidiary of The Goodrich Companies, provides management services for all types of commercial properties including residential, retail, office, industrial, warehouse, and flex space. In the past GMC has managed various buildings for General Electric's Real Estate division and presently manages the Sherilu Properties portfolio (a New Jersey- based regional developer) containing approximately 500,000 square feet.

The services offered by GMC mirror the full range of management services provided for its own portfolio. These services go far beyond the typical third party management services furnished by other real estate management companies. In addition to day to day property management which includes handling all landlord-tenant relations, dealing with onsite issues, collection and billing of rents, (including all escalations and pass-throughs), payment of all expenses, and preparation of monthly operating statements, we provide much more. Our accountants, if so instructed, will keep detailed general ledgers for any or all managed properties that are continuously updated with auditors' entries and converted to a cash or accrual basis as appropriate. GMC will prepare annual budgets and related monthly or quarterly variance reports. We can prepare detailed monthly income/cash flow statements, as well as special purpose year to date operating statements. We will complete and file various certiorari filings, such as the Real Estate Property Income and Expense Reports (RPIES) required by the New York City Department of Finance. GMC works closely with ownership's existing professionals - accountants, attorneys, and insurance agents as well as the owner's principals. As one example, GMC works closely with outside accountants and property tax professionals to facilitate the preparation of annual tax returns and year-end audited statements, as well as in connection with the prosecution of tax certiorari proceedings.

GMC's construction staff has capabilities sufficient to oversee and coordinate both routine maintenance and extensive capital improvement projects. Over the past three years GMC has successfully completed four shopping center renovations and can share this expertise with owners considering upgrading older shopping centers or office buildings. GMC's in-house counsel can direct and supervise outside counsel in connection with landlord-tenant and other litigation, and can also prepare new leases and lease renewals, thereby substantially reducing outside legal fees. Our legal staff also works closely with an owner's insurance agent or consultant to insure that all claims are properly submitted and defense undertaken by the owner's carrier. GMC has maintained extremely favorable loss runs on its owned and managed portfolios through the institution of regular maintenance programs and the early resolution of small claims as warranted. GMC is particularly sensitive to, and familiar with, the intricacies of family-owned real estate businesses; in such instances our services become more personal in nature and therefore extend beyond the four corners of the properties.

GMC is especially recognized for the quality of the reports prepared for ownership including detailed budgets, periodic, detailed variance reports and year-end statements. All of these reports can be easily supplemented with input from the owner. GMC maintains excellent working relationships with numerous lenders and is adept at preparing and furnishing lenders with the detailed documentation that is essential and required in today's stringently regulated financial marketplace. In essence, GMC handles all of the work required to meticulously manage any real estate portfolio and will work closely with ownership's professionals to handle all reporting requirements. GMC will also readily customize its standard reports to suit an individual owner's needs.

References are available upon request.

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