fy 2012 state of the portfolio snapshot · fy 2012 state of the portfolio snapshot 16 “other”...
TRANSCRIPT
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FY 2012 State of the
Portfolio Snapshot
PTAC
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Table of Contents
Rentable Square Footage by Region ....................................................................................................................................... 4
Customers ............................................................................................................................................................................... 5
Top Customers by Total RSF and Annual Rent ........................................................................................................... 5
Markets ................................................................................................................................................................................... 6
Top 15 Key Markets by Total RSF ............................................................................................................................... 6
Assets ...................................................................................................................................................................................... 7
Rentable Square Feet ................................................................................................................................... 7
Number of Assignable Assets ..................................................................................................................................... 7
Direct Revenue ........................................................................................................................................................... 8
Funds from Operations .............................................................................................................................................. 8
Vacancy Rates ............................................................................................................................................................ 8
Inventory Segmentation ............................................................................................................................................ 8
RSF by Tier .................................................................................................................................................................. 9
R&A Funding ............................................................................................................................................................ 10
Disposal Results ....................................................................................................................................................... 10
New Construction .................................................................................................................................................... 11
Major R&A ................................................................................................................................................................ 11
Appendix Tables
Table 1: Total Portfolio Composition by Region ...................................................................................................... 13
Table 2: Total Portfolio Composition by Inventory Segment and Region ................................................................ 13
Table 3: Number of Agency Space Assignments (ASAs) .......................................................................................... 14
Table 4: Total Number of Leases Expiring ............................................................................................................... 14
Table 5: Lease Expirations by Region & Fiscal Year ................................................................................................. 15
Table 6: Income Statement ...................................................................................................................................... 16
Table 7: Financial Performance ................................................................................................................................ 17
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Table 8: Distribution by Square Footage ................................................................................................................. 17
Table 9: Asset Performance by Property Type ........................................................................................................ 18
Table 10: Asset Performance by FRPC Property Type ............................................................................................. 18
Regional Fact Sheets ........................................................................................................................................................ 19-40
Rentable Square Footage by State ...............................................................................................................................
Basic Portfolio Data ......................................................................................................................................................
Tiering & Core Assets ...................................................................................................................................................
Lease Expirations .........................................................................................................................................................
Top 5 Customers by Total RSF& Annual Rent ..............................................................................................................
Top 5 Markets ..............................................................................................................................................................
Data Sources Used in This Document
The number of buildings, Rentable Square Feet (RSF), and number of Agency Space Assignments (ASAs) are from
REXUS and Business Intelligence (BI) as of 9/30/12
Vacancy rates are from 9/30/12 Vacant Space Report
Direct revenue and FFO are from InfoWizard FBF model as of 9/30/12
Tiering results are from the Portfolio Analysis Division, Office of Real Estate Portfolio Management
The number of leases (total and extended) are from REXUS as of 9/30/12 and represent all leases that are active
or active pending change
Key Concepts in This Document
Agency Space Assignments (ASAs) are the mechanism PBS uses to assign blocks of space to customer agencies
Funds From Operations (FFO) is the direct revenue PBS collects less the total direct expenses, overhead
expenses, and interest on purchase contracts that PBS incurs
The PBS repair and alteration (R&A) program consists of below-prospectus alteration funding (budget activity
54) and above-prospectus alteration funding (budget activity 55)
o For fiscal year 2012, the prospectus threshold is $2.79 million
PBS uses the following inventory segments for assets, depending on their holding period:
o Core Assets (>15 year need)
o Transition Assets (6-15 year need)
o Disposal Assets (<5 year need)
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Region New Construction Gross Square Feet
(GSF)
2 San Juan-New Federal Parking Garage 170,532
4 Fort Pierce-Federal Building U.S. Courthouse 146,606
5 Rockford-New U.S. Courthouse 211,320
6 Cedar Rapids-New U.S. Courthouse 305,999
8 Billings - New Battin U.S. Courthouse 146,669
Completed New Construction
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Appendix Tables
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“Other” expenses include categories such as labor variance, marketing, special programs, and studies
“Real Estate” expenses include lease formulation and administration costs, space requirement
development costs, and other related costs to support such activities
“Purchase Contract” expenses include the interest portion of outstanding debt on Federal Finance Bank
transactions
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* “Other” property types include child care facilities, LPOE residences, motor pools, utility & support structures
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Region 1
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Region 1
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Region 2
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Region 2
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Region 3
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Region 3
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Region 4
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Region 4
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Region 5
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Region 5
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Region 6
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Region 6
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Region 7
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Region 7
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Region 8
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Region 8
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Region 9
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Region 9
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Region 10
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Region 10
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Region 11
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Region 11