KENNINGTON PROPERTY HOLDINGS FEBRUARY 2025
BOARD MEETING AGENDA
February 27, 2025
Review of Minutes
PROPERTY MANAGEMENT & ACCOUNTING REPORTS
1. Income Statement
2. Balance Sheet
3. Budget Comparison Report
4. Accounts Receivable Aging Report
5. General Ledger
6. Bank Reconciliation
7. Rent Roll
8. Management Fee Calculation
ASSET MANAGEMENT REPORTS
1. KPH Cash Flow Summary
2. Cash Flow Projections Summary
3. Leasing Reports
Bradford RETAIL
Bradford FLEX
Bradford OFFICE
Thirty-Four Commercial
4. Construction/Tenant Improvements
5. Additional Reports
Litigation
Property Tax Reserve Analysis
6. Old Business
Jupiter North – Refinance update
Liberty Capital Bank – Deposit requirement update
Juniper Square – Brandywine Place Update
7. New Business
Investor Relations Brainstorming
CAPEX Projects – Richardson Plaza & Brandywine Place
Brandywine Place Branding & Brochure
Next Meeting – Thursday, March 27, 2025 – 1 HOUR
Adjournment
KPH - FEBRUARY 2025
Board Meeting Minutes APPROVAL OF JANUARY 2024 MINUTES
PROPERTY MANAGEMENT & ACCOUNTING REPORTS PROPERTY MANAGEMENT & ACCOUNTING REPORTS
INCOME STATEMENT KENNINGTON PROPERTY HOLDINGS
Property Comparison Period = Jan 2025 Book = Cash ; Tree = kci_is
NON-REIMBURSABLE EXPENSES
NON-CAM ADMIN EXPENSE
Marketing Expense579.63532.47433.31395.53744.44638.28534.86462.001,243.211,115.87 Bank Charges0.000.000.000.000.000.000.000.000.000.00
Office Supplies286.98187.00175.36114.00379.24240.00254.06165.00611.95396.00
Computer Software1,399.19685.00857.38415.002,283.73942.00993.30560.002,324.761,325.00
Dues and Subscriptions0.000.000.0041.000.0086.000.0059.000.00141.00
Rent Expense728.14757.00444.94463.00936.86973.00642.08667.001,545.071,605.00
TOTAL NON-REIMBURSABLE EXPENSES3,716.004,413.464,530.461,535.704,709.663,391.283,135.832,210.006,499.535,566.87 TOTAL OPERATING EXPENSES35,671.1337,787.7325,505.5324,453.6843,071.5440,602.3633,257.8230,923.0286,991.8483,422.23
NET OPERATING INCOME48,040.8255,499.1837,066.2749,839.2375,200.0481,363.1351,483.6747,901.2877,526.2495,668.53
OWNER EXPENSES
Asset Management Fee773.17928.09624.22738.151,186.701,214.88834.68783.471,687.111,782.65
Accounting250.52531.00153.08342.00322.33671.00220.91467.00531.581,115.00
Consulting Fees2,639.291,123.411,761.33834.493,393.301,346.652,371.90974.725,625.302,354.25 Meals0.0036.000.0022.000.0046.000.0032.000.0076.00
K.F. Overhead373.411,265.85228.18773.52480.441,628.70329.271,116.24792.342,686.06
TOTAL OWNER EXPENSES4,036.393,884.352,766.812,710.165,382.774,907.233,756.763,373.438,636.338,013.96
DEBT EXPENSE
Interest Expense11,499.0311,499.0320,982.2420,982.2430,714.6530,714.658,291.418,291.4129,841.0029,841.00
TOTAL DEBT EXPENSE11,499.0311,499.0320,982.2420,982.2430,714.6530,714.658,291.418,291.4129,841.0029,841.00
NET INCOME32,505.4040,115.8013,317.2226,146.8339,102.6245,741.2539,435.5036,236.4439,048.9157,813.57
0.000.000.000.000.000.000.000.00-39,698.96-39,698.96 0.000.000.000.000.000.000.000.000.000.00 17,085.4717,085.4756,262.8655,735.2443,482.3443,482.3437,008.5037,008.5039,257.5339,257.53
9,389.969,547.8716,020.4119,569.2123,732.9826,342.9416,491.4716,298.9136,617.9041,092.11 0.00413.420.00413.420.00413.420.00553.040.00413.42 0.000.000.000.000.000.000.000.000.000.00 0.000.000.000.000.000.000.000.000.000.00 9,389.969,961.2916,020.4119,982.6323,732.9826,756.3616,491.4716,851.9536,617.9041,505.53
0.0064.17883.0664.170.0064.170.0054.170.0064.17 0.000.000.000.000.000.00209.120.000.000.00 0.000.000.000.000.000.000.000.000.000.00 0.0064.17883.0664.170.0064.17209.1254.170.0064.17 26,475.4327,110.9373,166.3375,782.0467,215.3270,302.8753,709.0953,914.6275,875.4380,827.23
1,577.621,582.333,336.503,346.503,673.653,684.672,065.682,071.883,836.273,847.78 1,577.621,582.333,336.503,346.503,673.653,684.672,065.682,071.883,836.273,847.78 1,714.281,765.752,012.012,072.361,950.922,009.481,470.851,514.965,337.092,748.56 0.00264.830.00310.860.00301.390.00227.240.00412.25 0.00525.000.00200.000.00250.000.00500.000.000.00 0.000.000.00200.000.000.000.000.000.000.00 0.0091.670.0083.330.0083.330.0083.330.0083.33 1,714.282,647.252,012.012,866.551,950.922,644.201,470.852,325.535,337.093,244.14
11,833.7111,833.714,936.814,936.8110,000.1410,000.145,777.495,777.4911,215.1211,215.12 11,833.7111,833.714,936.814,936.8110,000.1410,000.145,777.495,777.4911,215.1211,215.12
323.74214.33235.04250.00445.94700.000.00155.000.00500.00 1,381.11812.00820.01800.002,853.971,300.001,291.031,200.003,664.872,300.00 1,053.091,017.502,154.591,720.50613.71601.25246.43231.251,344.131,156.25 0.000.000.000.000.000.000.000.000.000.00 2,757.942,043.833,209.642,770.503,913.622,601.251,537.461,586.255,009.003,956.25
21.65387.0021.65422.3021.6522.30363.6822.30378.68705.58 0.000.000.0025.000.0025.000.000.000.0020.00 0.000.000.000.000.000.00211.07207.00377.50360.00 1,614.45249.000.000.000.000.00700.00100.001,232.70118.00 0.00208.330.000.000.000.000.000.00400.70291.67 337.87355.00675.74700.00450.48460.00197.09203.00366.03380.00 202.43236.00477.38495.00194.85201.000.00245.00525.01541.00 0.000.000.000.000.000.000.000.000.000.00 0.000.000.000.000.000.000.000.000.000.00 0.000.000.000.000.000.000.000.000.000.00 2,201.041,710.442,601.172,041.502,247.041,465.351,605.42802.893,588.132,958.00
0.000.000.000.000.000.000.000.000.000.00 0.000.000.0060.000.000.000.000.000.000.00
0.000.000.000.001,028.380.000.000.000.000.00 0.000.000.000.000.000.000.000.000.000.00 0.000.000.000.000.000.000.000.000.000.00 535.840.000.0083.330.000.000.000.00221.9183.33 0.0057.000.000.000.0040.000.000.000.000.00 163.2730.0058.7130.0098.6250.0051.1825.0097.0275.00
5,076.553,232.773,834.653,857.134,041.022,263.653,128.441,605.197,187.685,532.58
1,059.021,065.332,843.163,012.182,673.162,793.012,140.002,132.303,035.023,213.99
2,526.103,264.702,985.813,691.682,580.002,948.601,843.352,094.184,119.334,873.73 328.69390.96388.22442.09335.06353.11239.37250.79535.24583.65 3,913.814,720.996,217.197,145.955,588.226,094.724,222.724,477.277,689.598,671.37 26,873.9126,060.8823,546.8024,923.4429,167.5727,288.6318,202.6417,843.6140,274.7536,467.24
12,547.8712,564.9612,590.8012,590.8010,198.8510,198.85
-19,211.36-15,270.9030,583.2633,523.4221,670.9528,033.3124,758.7425,918.3512,077.5421,798.69
13,992.5013,992.5069,376.0969,376.0957,226.8966,876.7237,719.4340,433.00795,563.08808,450.74 0.000.000.000.000.000.000.00-3,515.00-59,768.41-54,117.38 0.000.000.000.000.000.000.000.001,982.491,982.49 13,992.5013,992.5069,376.0969,376.0957,226.8966,876.7237,719.4336,918.00737,777.16756,315.85
5,837.805,825.9334,715.2930,213.4713,728.8219,710.271,146.892,005.00303,860.88338,746.72 0.00413.420.00413.420.00413.420.000.0065.275,653.70 0.000.000.000.003,395.474,853.530.000.003,395.474,853.53 0.000.000.000.000.00516.670.000.000.00516.67 5,837.806,239.3534,715.2930,626.8917,124.2925,493.891,146.892,005.00307,321.62349,770.62
0.0064.170.0064.170.0064.170.000.002,087.78824.21 0.000.000.000.001,757.420.000.000.001,966.540.00 0.000.000.000.000.000.000.000.000.00208.33 0.0064.170.0064.171,757.4264.170.000.004,054.321,032.54 19,830.3020,296.02104,091.38100,067.1576,108.6092,434.7838,866.3238,923.001,049,153.101,107,119.01
2,692.782,700.836,052.886,071.002,758.982,767.253,190.301,587.9252,132.9550,677.24 2,692.782,700.836,052.886,071.002,758.982,767.253,190.301,587.9252,132.9550,677.24
2,499.412,574.422,893.362,980.171,123.511,400.000.001,572.2530,380.6030,358.56 0.00386.170.00447.000.00210.000.001,236.000.005,555.37 0.00250.000.000.000.000.000.000.000.004,355.00 0.000.000.000.000.000.000.000.000.00200.00 0.0083.330.0083.330.0083.330.000.000.001,083.30 2,499.413,293.922,893.363,510.501,123.511,693.330.002,808.2530,380.6041,552.23
4,552.324,552.3214,742.8914,742.8910,756.1810,756.186,143.006,143.00141,166.82141,166.82 4,552.324,552.3214,742.8914,742.8910,756.1810,756.186,143.006,143.00141,166.82141,166.82
792.66544.461,228.191,100.006,461.395,000.000.005,253.0810,167.6716,541.87 738.80690.001,064.651,700.00528.441,000.000.001,061.5825,734.9722,613.58 433.15385.42609.06578.17610.96565.170.00765.6719,175.6316,863.93 0.000.000.000.00473.70370.000.000.00473.70420.00 1,964.611,619.882,901.903,378.178,074.496,935.170.007,080.3355,551.9756,439.38
0.00205.000.00450.0021.65125.000.000.001,418.493,598.05 0.0050.000.0025.000.000.000.002,313.330.002,595.00 0.000.000.000.000.001,000.000.00309.42588.571,876.42 916.42225.001,391.42375.00584.55125.000.000.0011,860.052,603.67 0.000.000.000.00158.570.000.000.00559.27500.00 165.62160.00276.04290.00276.041,150.000.000.006,249.757,380.00 194.85205.00405.94425.00189.44200.000.000.004,622.295,094.00
0.000.000.000.0014,558.888,100.000.000.0014,558.888,100.00 0.000.000.000.000.000.000.000.00725.17530.00
0.000.000.000.000.0075.000.000.000.0075.00 1,756.951,184.663,626.622,875.802,950.492,019.801,362.561,360.0039,858.9431,497.88 0.000.000.000.00330.08368.000.000.00330.08368.00 0.0090.000.000.000.0050.000.000.001,169.10250.00
0.000.000.000.000.000.000.00492.672,192.07592.67 0.000.000.00250.000.00500.000.000.000.00750.00 0.000.000.000.000.00416.670.000.000.00416.67
0.000.000.000.000.00125.000.000.003,577.66441.66
0.000.000.000.000.0041.670.000.000.00249.50 39.0725.0087.9850.0067.49275.000.000.001,436.84870.00 3,072.912,144.665,788.004,740.8019,137.1914,571.141,362.564,475.4289,147.1667,788.52
793.21792.744,163.663,983.583,310.683,657.62678.501,557.0041,119.8743,996.73 2,016.482,586.604,163.984,767.723,388.283,663.691,564.191,556.0045,758.7654,188.94 262.34309.76540.78570.95439.67438.74203.29205.005,946.256,508.01 3,072.033,689.108,868.429,322.257,138.637,760.052,445.983,318.0092,824.88104,693.68 17,854.0618,000.7141,247.4541,765.6148,988.9844,483.1213,141.8425,412.92461,204.38462,317.87
0.004,536.302,385.49
0.006,403.613,084.35
0.002,294.30630.00
0.009,050.643,714.35
245.0051,192.7433,274.29
460.0031,731.6314,571.25
849.0049,404.8947,374.17
PROPERTY MANAGEMENT & ACCOUNTING REPORTS
BALANCE SHEET Loan
Loan
Loan
Loan
Loan
Loan
KENNINGTON Period = Jan 2025 Book = Cash ; Tree = kci_bs
Loan Fees - Tollway
Legal Closing Cost - Skyway
Legal Closing Cost - Jupiter North
Legal Closing Cost - Jupiter South
Legal
Legal
Legal
Legal
Legal
ACCUMULATED AMORTIZATION and DEPRECIATION
Accum Amortization -2,138,602.00
Accum
TOTAL ACCUMULATED AMORTIZATION and DEP -32,250,813.00
OTHER ASSETS
Marketable Securities XX9008
OTHER ASSETS 996,384.11
ASSETS 80,407,279.38 LIABILITIES AND EQUITY NOTES
MORTGAGE NOTES PAYABLES
Mortgage Payable - Alpha Plaza 3,666,767.56
Mortgage Payable - Midway Center 4,196,757.16
Mortgage Payable - Campbell 6,246,923.67
Mortgage Payable - Placid 2,643,932.62
Mortgage Payable - Research Center 8,303,108.88
Mortgage Payable - Valley View Center 1 2 3 2,160,304.40
Mortgage Payable - ABC 4,431,606.36
Mortgage Payable - Skyway 3,170,356.57
Mortgage Payable - Jupiter North 1,791,127.58
Mortgage Payable - Jupiter South 5,146,936.18
Mortgage Payable - Waters Ridge Tech II 3,212,279.12
OWNER DRAW
Capital Distributions - Craig Kennington CCC Trust
Capital Distributions - Clark Kennington CCC Trust -1,372,980.00
Capital Distributions - Clayton Kennington CCC Trust -1,372,980.00
Capital Distributions - The Dallas Foundation -150,311.13
PROPERTY MANAGEMENT & ACCOUNTING REPORTS
KENNINGTON PROPERTY HOLDINGS
PROPERTY MANAGEMENT & ACCOUNTING REPORTS
ACCOUNTS RECEIVABLE AGING REPORT PROPERTY MANAGEMENT & ACCOUNTING REPORTS
GENERAL LEDGER PROPERTY MANAGEMENT & ACCOUNTING REPORTS
Posted by: sdobbs on 2/3/2025
1/2/2025
1/2/2025
1/8/2025
1/8/2025
1/8/2025
1/8/2025
- Operating
Bank Reconciliation Report 1/31/2025 Posted by: sdobbs on 2/3/2025
742535161
car05 - Carter Pest Control
1/16/2025
1/23/2025
1/28/2025
1/28/2025
2/3/2025 Bank Reconciliation Report 1/31/2025 Posted by: sdobbs on 2/3/2025
742535161
Cleared Checks
Reconciliation Report 1/31/2025 Posted by: sdobbs on 2/3/2025
1/28/2025
1/28/2025
1/28/2025
1/28/2025
1/29/2025
1/29/2025
Cleared Deposits
Cleared Other Items
Report 1/31/2025 Posted by: sdobbs on 2/3/2025
Reconciliation Report 1/31/2025 Posted by: sdobbs on 2/3/2025
Posted by: sdobbs on 2/3/2025
Reconciliation Report 1/31/2025 Posted by: sdobbs on 2/3/2025
1201445606
Cleared Deposits
Cleared Other Items
1/1/2025 JE 10439 :PostRecurring
1/28/2025 JE 10526 01.28.25 Trnsfr Property Tax
1/31/2025 JE 10546 01/25 Bank Fee
1/31/2025 JE 10547 Corr Amount on cleared
PROPERTY MANAGEMENT & ACCOUNTING REPORTS
RENT ROLL KENNINGTON PROPERTY HOLDINGS PROPERTY MANAGEMENT & ACCOUNTING REPORTS
MANAGEMENT FEE CALCULATION 050
Management Fee Register Summary 054
ASSET MANAGEMENT REPORTS ASSET MANAGEMENT REPORTS
KPH CASH FLOW SUMMARY KPH Cash Flow Projections Summary ASSET MANAGEMENT REPORTS
CASH FLOW PROJECTIONS SUMMARY 27 Alpha Plaza
48,61351,21953,25340,18847,55947,03243,11631,52542,75945,43744,81723,261518,779
30Midway Center 42,13041,40049,28743,79833,28834,91541,79226,67838,69737,76136,54227,012453,300
35Campbell I 56,50769,50267,94573,70477,91063,78970,00756,78064,63460,40567,81367,086796,082
37Placid 44,13848,57153,85754,29759,28745,36146,24545,51845,72743,96645,10251,370583,439
44Kennington Research 106,38295,616125,015105,45496,57690,435100,23765,37978,84176,38971,46183,0291,094,814
46 Valley View and Valley View Land 43,80850,79248,83550,93353,07249,16749,38724,895 (2,465) 3,791 (7,901) 1,654365,969
49 Alpha Business Center 47,36644,62840,02452,39041,76261,29840,11454,30832,82645,30638,25438,332536,608
50Skyway 31,24024,62842,30339,13741,38265,16530,16230,41835,76640,65531,37922,263434,498
51Jupiter Center North 25,54923,27228,53328,51724,70026,55948,26022,31026,72126,64433,77933,364348,207
52Jupiter Center South 60,10269,01469,43164,21190,83270,17469,97160,75665,03167,78331,41339,098757,817
53Waters Ridge Tech II 34,71934,83039,54539,05942,84938,51338,14549,414 (750) 958 (10,451) (4,401) 302,429
54Waters Ridge Tech III 45,54746,83564,14866,60280,84648,25084,17395,22658,66650,43523,25395,236759,216
55North Dallas Tollway 30,07055,18035,62953,64634,68932,36168,21048,45834,13454,63425,93236,231509,174
56Richardson Plaza 0000000000013,25613,256
after Debt Service
50Skyway
51Jupiter Center North
52Jupiter Center South
53Waters Ridge Tech II
54Waters Ridge Tech III
55North Dallas Tollway
56Richardson Plaza
66,74673,95674,02866,89374,19574,60174,18981,48678,59978,59967,012(71,368)738,938 56,28957,27554,88655,09252,55352,63552,72855,17055,47756,45853,398(11,622)590,340 94,95495,05098,36798,367105,554105,554106,162106,162106,162106,162106,361(55,409)1,073,443 60,08960,08967,17667,17667,17667,17667,17661,29161,61052,60252,602(74,885)609,278 133,075133,271151,591151,795151,989152,094127,356127,356164,088164,088164,088(134,017)1,486,774 4,9434,9434,9434,9434,9434,9434,9434,9434,94317,12717,347(112,372)(33,409) 56,04451,82357,36257,36257,56262,56162,56162,56162,56142,34742,347(33,642)581,449 54,28239,86639,86639,86639,86658,41358,41358,41359,06759,06759,067(72,670)493,518 39,40239,40239,40239,40239,40239,40239,40239,40239,40239,40247,503(39,545)401,974 84,97984,97984,97984,97984,97985,27285,27285,27285,27285,27286,124(63,978)873,402 6,1166,1166,1166,1166,1166,1166,1166,1166,1166,116(1,542)(58,153)1,466 73,41576,94677,32677,32683,83749,84923,38434,25145,76257,27266,136(129,010)536,494 58,97058,88657,51856,51845,85655,01452,37351,23959,61056,71162,130(72,262)542,564 19,40822,30622,55922,55922,70824,53125,09225,09225,11624,90527,714(46,502)215,489 0000000000000 808,714804,908836,120828,394836,736838,161785,168798,754853,786846,129850,287 (975,434) 8,111,722
219,031218,580218,137218,150217,793224,915224,608224,125226,638226,322225,819225,3212,669,439 131,143131,605132,067132,543133,012137,180137,775138,273139,659140,157140,661141,1621,635,237 00000 0 350,174350,185350,204350,693350,805362,095362,383362,398366,297366,479366,480366,4834,304,676 458,540454,723485,916477,701485,931476,066422,785436,356487,489479,650483,807(1,341,917)3,807,046 95,84625,000319,593046,42171,84698,975210,161311,338150,600343,47701,673,257 84,20029,842111,515042,91573,86627,975115,08379,82482,583197,6900845,492 11,32211,3229,75184,75121,751171,46115,751126,096264,47172,79734,751159,751983,977
ASSET MANAGEMENT REPORTS
LEASING REPORTS BRADFORD RETAIL AL PH A PL AZA MID WA Y CEN TER BRADFORD FLEX VALLEY VIE W 1861 VALLEY VIEW LANE, IRVING, TX 75061
AL PHA BU SINESS CEN TER SUITE 3-100- 3,581 RSF
SUITE 3-110- 3,262 RSF SHARI’S MANAGEMENT 9/30/2025
SUITE 3-120- 1/31/2024 RSF COMPRO COMPUTER 3/31/2029 SUITE 3-130- 2,996 RSF
SKYWAY CIRCLE 3101-3117 SKYWAY CIRLCE, IRVING, TX 75038
SUITE 3117- 18,287 RSF AP AMERICAS 8/31/2028
SUITE 3113 - 11,425 RSF WELLER TRUCK PARTS, LLC 8/31/2029 AVAILABLE
SUITE 3109- 13,776 RSF VACATED 1/31/2025
SUITE 3101- 18,450 RSF AP AMERICAS 8/31/2028
BRADFORD OFFICE CCC - CAM PB ELL 1200/1210 CAMPBELL ROAD, RICHARDSON, TX 75081
LEASED
SUITE 110 - 10,370 RSF BRAZEN ANIMATION 10/31/2030
LEASED
SUITE 108 - 25,437 RSF PNC BANK 5/31/2030
LEASED
SUITE 120 - 4,660 RSF SEEBOOST 1/31/2027
LEASED
SUITE 130 - 6,168 RSF
SEEBOOST/EVEGLAZE LLC 1/31/2027
CCC - D IG I TA L LEASED
SUITE 150 - 4,446 RSF BOGEY BROS 11/30/2029
SUITE 140 - 2,993 RSF VERSAR, INC. 11/30/2027 LEASED SUITE 120 - 3,591 RSF PRELOAD, LLC 4/30/2026
SUITE 130 - 3,891 RSF SYNERGY SOLUTIONS 7/31/2026
SUITE 110 2,992 RSF DIRECT LINE GLOBAL 12/31/2027
SUITE 100 - 4,465 RSF TXS INDUSTRIAL DESIGN 6/30/2026
LEASED
SUITE 100 - 13,858 RSF TALLEY-RIGGINS CONSTRUCTION 6/30/2028
AVAILABLE
SUITE 130 - 7,354 RSF LEASED
SUITE 160 - 6,746 RSF ELECTION SYSTEMS & SOFTWARE 12/31/2026
P LAC ID RESEARCH CENTER J UP ITER WATERS RIDGE II 1965 LAKEPOINTE DRIVE, LEWISEVILLE, TX 75057
LEASED
SUITE 200- 11,194 RSF
HOYA OPTICAL LABS
10/31/2025
AVAILABLE SUITE 100- 22,152 RSF
WATER S R IDG E II I 1825 LAKEWAY DRIVE, LEWISVILLE, TX 75057
LEASED SUITE 200 OCCUSYSTEMS
LEASED SUITE 400 - 15,814 RSF K12 VIRTUAL SCHOOLS 6/30/2025
AVAILABLE SUITE 300 - 5,783 RSF SUITE 100 COMPASS BIOMED 6,300 RSF 4/30/2030
LEASED SUITE 500 - 12,344 RSF FORD MOTOR 11/30/2025
LEASED SUITE 700 - 19,389 RSF ALLEGIANCE TRUCKING 5/31/2025
RICHARDSON PLAZA RICHARDSON PLAZA THIRTY-FOUR BENT TREE PLACE BENT TREE PLACE 17110 N DALLAS PARKWAY, DALLAS, TX 75248
BRANDYWINE PLACE BRANDYWINE PLACE BRANDYWINE PLACE BRANDYWINE PLACE ASSET MANAGEMENT REPORTS
CONSTRUCTION/ TENANT IMPROVEMENTS CONSTRUCTION PROJECTION TI PROJECTS RESEARCH CENTER CONSTRUCTION PROJECTION RESEARCH Property: Research
Project: EcoShield
Suite: 2100
GC: Gulfcoast
TI Cost: $40,000.00
Cost PSF: $5.75/SF
SF: 6,957
Status: Punchlist
Rate: $10.00 NNN; 3% Bumps; 62 Months; 2 Months Free
CONSTRUCTION PROJECTION RESEARCH PLACID CONSTRUCTION PROJECTION PLACID Property: Placid
Project: Hisco
Suite: 400
GC: TBD
TI Cost: $10,000.00
Cost PSF: $2.09/SF
SF: 4,800
Status: In Progress
Rate: $12.00 NNN; 4% Bumps; 60 Months
WATERS RIDGE III CONSTRUCTION PROJECTION WATERS RIDGE III Property: Waters Ridge III
Project: Compass Biomedical
Suite: 100
GC: TBD
TI Cost: $25,000.00
Cost PSF: $2.09/SF
SF: 6,300
Status: Pre Construction
Rate: $13.00 NNN; 4% Bumps; 63 Months; 3 Months Free
BRANDYWINE PLACE CONSTRUCTION PROJECTION BRANDYWINE PLACE Property: Brandywine Place
Project: Brick Vault
Suite: 730-202
GC: Gulf Coast
TI Cost: $7,000.00
Cost PSF: $9.30/SF
SF: 753
Status: Pre Construction
Rate: $17.00; $0.50 Bumps; 37 Months; 1 Months Free
CONSTRUCTION PROJECTION CCC Property: CCC
Project: Igniter Company
Suite: 4130
GC: TBD
TI Cost: $386,085
Cost PSF: $52.50/SF
SF: 7,354
Status: Lease sent 12/12
Rate: $13.50 NNN; 3.5% Bumps; 73 Months
VALLEY VIEW CONSTRUCTION PROJECTION VALLEY VIEW Property: Valley View
Project: Sentric
Suite: 150
GC: TBD
TI Cost: $60,000.00
Cost PSF: $6.08/SF
SF: 9,864
Status: Lease Drafted
Rate: $15.00 NNN; 3% Bumps; 63 Months;
3 Months Free
CONSTRUCTION PROJECTION SPEC PROJECTS BENT TREE PLACE CONSTRUCTION PROJECTION BENT TREE PLACE Property: Bent Tree Place
Project: Spec Suite
Suite: 214
GC: Preston Pierce
Cost: $334,983.79
Cost PSF: $50.72/SF
SF: 6,604
Status: In Progress
CONSTRUCTION PROJECTION BENT TREE PLACE Building Permit Received 11/14/24
Rough Wall Inspection Passed 11/18/24
Framing Inspection Passed 11/21/24
Plumbing - hot/cold chiller lines Completed 12/1/24
Drywall Installation Completed 12/4/24
Tape, Bed & Texture Completed 12/6/24
Primer and Paint Completed 12/19/24
Install Doors Completed 1/31/25
Millwork/Countertops Completed 2/7/25
MEP Trim-Out Completed 2/12/25
MEP Final Inspection Completed 2/20/25
City Final Inspection Completed 2/20/25
Certificate of Occupancy ETA 2/28/25
CONSTRUCTION PROJECTION BENT TREE PLACE CONSTRUCTION PROJECTION BENT TREE PLACE ALPHA PLAZA CONSTRUCTION PROJECTION ALPHA PLAZA Property: Alpha Plaza
Project: Vanilla Box
Suite: 110
GC: Preston Pierce
Cost: $44,064.08
Cost PSF: $18.19/SF
SF: 2,422
Status: Approved 10/15
Scope: Add HVAC unit, Demo Shower, New
Tile Walls, New Flooring, New vanity and toilet
CONSTRUCTION PROJECTION ALPHA PLAZA CONSTRUCTION PROJECTION ALPHA PLAZA Property: Alpha Plaza
Project: Clean Out
Suite: 295
GC: TBD
Cost: $TBD
Cost PSF: $TBD/SF
SF: 2,696
Status: Scheduled
Scope: Clean Out, Replace toilet, Replace Lights
VALLEY VIEW CONSTRUCTION PROJECTION VALLEY VIEW Property: Valley View
Project: Spec
Suite: 100
GC: Excel
Cost: $259,849.23
Cost PSF: $13.53/SF
SF: 19,200
Status: Needs Approval
Scope: Demise space, Demo flooring, New carpet (red)/LVT (green)
CONSTRUCTION PROJECTION VALLEY VIEW Property: Valley View
Project: Spec
Suite: 100
GC: Excel
Cost: $119,183.90
Cost PSF: $6.21/SF
SF: 19,200
Status: Needs Approval
Scope: Demise space
CONSTRUCTION PROJECTION VALLEY VIEW Property: Valley View
Project: Make Ready
Suite: 150
GC: TBD
Cost: $TBD
Cost PSF: $TBD/SF
SF: 9,864
Status: In Pricing
Scope: New Break
Cabinets, Paint Red Wall
WATERS RIDGE II CONSTRUCTION PROJECTION WATERS RIDGE II Property: Waters Ridge II
Project: Spec
Suite: 100
GC: TBD
Cost: $TBD
Cost PSF: $TBD/SF
SF: 22,152
Status: Interprise
Scope: Demise into 3-4 spaces
SKYWAY CONSTRUCTION PROJECTION SKYWAY Property: Skyway
Project: Make Ready
Suite: 3109
GC: TBD
Cost: $TBD
Cost PSF: $TBD/SF
SF: 13,776
Status: In Pricing
Scope: Demo WH area, New breakroom
CAPEX PROJECTS BENT TREE PLACE CONSTRUCTION PROJECTS BENT TREE PLACE CONSTRUCTION PROJECTION PRE LEASING PROJECTS ADDITIONAL REPORTS LITIGATION UPDATES - NONE Jupiter North – Refinance update
Juniper Square – Brandywine Place Update 1 2 3
Liberty Capital Bank – Deposit requirement update
JUPITER NORTH REFINANCE TERM SHEET Loan Terms Loan Amount
$3,450,000 TI/LC
$500,000 escrow (non-interest bearing account at Northmarq)
Note 7 Years
JUPITER NORTH REFINANCE DUE DILIGENCE Loan Application Executed 2/21/25
Deposit Funded 2/21/25
Title Commitment
Phase I / PCA Ordered
ETA 2/28/25
ETA 3/11/25
Appraisal Ordered ETA 3/11/25
Estoppel/SNDA Template Received 2/25/25
Org Documents Attorney Compiling
Liberty Capital Compliance Date 3/22 Northmarq working on extension
Closing
Early-Mid April if Extension Approved
LIBERTY CAPITAL BANK DEPOSIT REQUIREMENT REQUIRED 60 DAYS AFTER CLOSING
•Richardson Plaza (due February 17, 2025)
•Operating Cash - $565,000 - COMPLETE
•Guarantor Liquidity - $2,000,000
•Brandywine Place (due March 22, 2025)
•Operating Cash - $1,000,000
• $1,000,000 from Jupiter North Refinance
•Guarantor Liquidity - $2,000,000
JUNIPER SQUARE BRANDYWINE PLACE UPDATE TASK Data Transfer COMPLETE
Juniper Square IT Set-Up COMPLETE
Data Migration COMPLETE
Quality Assurance In Process, to be completed early to mid March
Investor Portal Launch & Test/Preview Late March
Portal Launch to Investors
End of March/Early April (prior to 1st Quarterly Distribution)
INVESTOR RELATIONS BRAINSTORMING TIMING
MONTHLY
QUARTERLY
Monthly Financial Report (Financial Statements, Variance Analysis, Bank Reconciliation, etc)
Quarterly Financial Report
RICHARDSON PLAZA ($26.76/sf) Preston PierceApproval Needed
CONSTRUCTION PROJECTION RICHARDSON CAPEX PROJECTS BRANDYWINE PLACE CAPEX PROJECTS CONSTRUCTION PROJECTION BRANDYWINE CAPEX PROJECTS CONSTRUCTION PROJECTION BRANDYWINE SIDEWALK CONSTRUCTION PROJECTION BRANDYWINE SIDEWALK / PARKING LOT CONSTRUCTION PROJECTION BRANDYWINE SIDEWALK / PARKING LOT Red = Parking Lot Repair
Yellow = Sidewalk Repair
CONSTRUCTION PROJECTION BRANDYWINE - MONUMENT SIGN NEXT MEETING THURSDAY, MARCH 27, 2025 9 - 10 AM