HOUSE_OVERSIGHT_018807.jpg
1.8 MB
Extraction Summary
1
People
4
Organizations
2
Locations
3
Events
2
Relationships
3
Quotes
Document Information
Type:
Appraisal report
File Size:
1.8 MB
Summary
This document is page 2 of a property appraisal report, dated December 15, 2015, prepared for Roberto A. Soltero of Banco Popular de Puerto Rico. The report values a 250-slip marina property in the Virgin Islands at a market value of $24,360,000 as of November 25, 2015, and details the allocation of this value between tangible assets.
People (1)
| Name | Role | Context |
|---|---|---|
| Roberto A. Soltero | Recipient of Report |
The appraisal report is addressed to Roberto A. Soltero of Banco Popular de Puerto Rico.
|
Organizations (4)
| Name | Type | Context |
|---|---|---|
| Banco Popular de Puerto Rico |
The recipient organization for the appraisal report.
|
|
| Integra Realty Resources |
The firm whose internal standards were used for the Appraisal Report. The 'irr.' logo is present at the bottom of the...
|
|
| Government of the Virgin Islands |
Leases 3.2 acres of seabed to the owner of the appraised marina property.
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| HOUSE_OVERSIGHT |
A document label at the bottom of the page, likely indicating it was part of a production to the U.S. House Committee...
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Timeline (3 events)
1991-1995
Construction period for the marina docks, which were constructed in multiple phases.
Virgin Islands
1993
Year when the majority of construction for the 5 commercial buildings was completed.
Virgin Islands
November 25, 2015
The effective date of the property appraisal, resulting in a market value conclusion of $24,360,000.
Virgin Islands
Integra Realty Resources (appraiser)
Banco Popular de Puerto Rico (client)
Locations (2)
| Location | Context |
|---|---|
|
The location of the appraised marina property. The Government of the Virgin Islands is mentioned as the lessor of the...
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Location of Banco Popular, the recipient of the report.
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Relationships (2)
The document states that 3.2 acres of seabed are leased to the property owner from the Government of the Virgin Islands.
Integra Realty Resources (implied)
→
Service Provider-Client
→
Roberto A. Soltero (Banco Popular de Puerto Rico)
The document is an appraisal report from Integra Realty Resources (implied by logo and standards) addressed to Roberto A. Soltero at Banco Popular de Puerto Rico.
Key Quotes (3)
"The subject is an existing 250-slip marina with 5 commercial buildings containing a mixture of retail and office space types."Source
HOUSE_OVERSIGHT_018807.jpg
Quote #1
"The property also includes 3.2 acres of seabed under the marina dock structures which is leased to the property owner from the Government of the Virgin Islands."Source
HOUSE_OVERSIGHT_018807.jpg
Quote #2
"Value Conclusion: $24,360,000"Source
HOUSE_OVERSIGHT_018807.jpg
Quote #3
Full Extracted Text
Complete text extracted from the document (2,316 characters)
Roberto A. Soltero
Banco Popular de Puerto Rico
December 15, 2015
Page 2
Banco Popular de Puerto Rico
December 15, 2015
Page 2
adhere to the Integra Realty Resources internal standards for an Appraisal Report –
Standard Format. This format summarizes the information analyzed, the appraisal methods
employed, and the reasoning that supports the analyses, opinions, and conclusions.
Standard Format. This format summarizes the information analyzed, the appraisal methods
employed, and the reasoning that supports the analyses, opinions, and conclusions.
The subject is an existing 250-slip marina with 5 commercial buildings containing a mixture
of retail and office space types. The buildings contain 48,661 square feet of rentable area
and were constructed in multiple stages; with the majority of the construction completed in
1993. The commercial space is 85% leased as of the effective appraisal date. The marina
docks were constructed in multiple phases between 1991-1995 and are 52.8% occupied as
of the effective appraisal date. The total site area is 2.76 acres or 120,226 square feet, which
includes 0.64 acre or 27,878 square feet, that is re-claimed land. The property also includes
3.2 acres of seabed under the marina dock structures which is leased to the property owner
from the Government of the Virgin Islands.
of retail and office space types. The buildings contain 48,661 square feet of rentable area
and were constructed in multiple stages; with the majority of the construction completed in
1993. The commercial space is 85% leased as of the effective appraisal date. The marina
docks were constructed in multiple phases between 1991-1995 and are 52.8% occupied as
of the effective appraisal date. The total site area is 2.76 acres or 120,226 square feet, which
includes 0.64 acre or 27,878 square feet, that is re-claimed land. The property also includes
3.2 acres of seabed under the marina dock structures which is leased to the property owner
from the Government of the Virgin Islands.
Based on the valuation analysis in the accompanying report, and subject to the definitions,
assumptions, and limiting conditions expressed in the report, our opinion of value is as
follows:
assumptions, and limiting conditions expressed in the report, our opinion of value is as
follows:
Value Conclusion*
Appraisal Premise Interest Appraised Date of Value Value Conclusion
Market Value Leased Fee (Going Concern) November 25, 2015 $24,360,000
*Values expressed in United States Dollars
Appraisal Premise Interest Appraised Date of Value Value Conclusion
Market Value Leased Fee (Going Concern) November 25, 2015 $24,360,000
*Values expressed in United States Dollars
Allocation of Going Concern Value
Amount % of Total
Tangible Property
Land & Improvements $24,250,000 99.5%
Tangible Personal Property (FF&E) $110,000 0.5%
Total Tangible Property $24,360,000 100.0%
Intangible Assets $0 0.0%
Market Value* $24,360,000 100.0%
*Specifically excluded from the valuation are cash and equivalents and current liabilities.
Amount % of Total
Tangible Property
Land & Improvements $24,250,000 99.5%
Tangible Personal Property (FF&E) $110,000 0.5%
Total Tangible Property $24,360,000 100.0%
Intangible Assets $0 0.0%
Market Value* $24,360,000 100.0%
*Specifically excluded from the valuation are cash and equivalents and current liabilities.
The allocation of value components is based on the going-concern premise, which holds that
the value of a business as a going-concern is equal to the sum of the values of the tangible
and intangible assets. The allocation assumes continued operation of the marina business.
Were the marina business to cease operations, the values of the individual components
would likely be different from the allocated values of the going concern.
the value of a business as a going-concern is equal to the sum of the values of the tangible
and intangible assets. The allocation assumes continued operation of the marina business.
Were the marina business to cease operations, the values of the individual components
would likely be different from the allocated values of the going concern.
irr.
HOUSE_OVERSIGHT_018807
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