INSURANCE PLACEMENTS Warwick Condominium Association – Atlantic City, NJ: Broker partner retained renewal and has saved the association over $28,000 in premium during the past two years Brighton Green Condominium – Newburgh, NY: After identifying deficiencies, new policies with overall better coverage were placed with broker partner mid-term Willow Point Condominium – Falls Church, VA:…
All associations purchase Crime coverage as a standalone policy or as part of a package. This type of coverage protects against the theft of association funds or other financial misconduct, but often has limits below what the association may need. Excess Crime provides the same protection, but offers higher limits than a typical property policy,…
As the premier high-rise tower in Myrtle Beach, SC, Margate Tower at Kingston Plantation boasts 251 oceanfront units overlooking white sandy beaches. Under FirstService Residential management since January 2015, the property is fully funded for their reserves and has benefitted from our annual analysis to properly address their funding needs. In 2016, FirstService Financial was…
CASH MANAGEMENT Foxfield at Naaman’s Creek – Boothwyn, PA: Reallocated $4,000,000 in reserve balances to help client earn an additional $6,600 per year in interest income Orchard Gate HOA – Westmont, IL: Reallocated reserve portfolio, earning client an additional $6,000 annually Lakes of Radisson Master – Blaine, MN: Reallocated $750,000 in excess operating funds to…
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Since 2013, FirstService Residential has proudly managed the Poinciana Villages, an unincorporated community of 25,000 homes and over 50,000 residents in central Florida. The Association, while entrusting day-to-day operations of the community to our team, opted to maintain full control of its financials. The Property Manager, Mark Maldonado, and the Senior Vice President, Fernando Dominguez,…
LOANS CLOSED $11,000,000: The Palisades Condominium– Fort Lee, NJ $2,600,000: Wynbrooke Homeowners Association – Murrells Inlet, SC $2,000,000: Mira Lagos Homeowners Association, Inc – Dallas, TX $820,723: The Trails Condominium Association – Kansas City, MO $370,000: Dakota on the Park Condominium– St. Paul, MN $228,988: The Commodore Condominium – St. Paul, MN $140,000: Alderon Woods…
LOANS CLOSED $4,800,000: Groveland Terrace Condominium – Minneapolis, MN $2,750,000: 579 W 215th – New York, NY $2,300,000: LaRive Condominium – Minneapolis, MN $1,500,000: The Grove at Arlington – Arlington, VA $1,102,892: Norfolk Atrium – New York, NY $750,000: Lakewood Commons – Chicago, IL $300,000: 2700 Club Condo – Chicago, IL $288,581: TSCC2564 Core Condos…
In October of 2016, FirstService Residential assumed management of The Savoy, and brand-new luxury condominium building in Calgary, AB. The Board, comfortable with their existing insurance broker and policy terms, was skeptical about switching brokers despite FirstService’s recommendation. In an effort to win the business, our broker partner presented a renewal option that added coverage…
LOANS CLOSED $6,500,000: Loring Green West – Minneapolis, MN $5,500,000: 220 East 54th – New York, NY $4,250,000: Tehama Tenants – Brooklyn, NY $2,500,000: Fairfield Village Condominium – Chicago, IL $2,400,000: Verrazano Owners – Brooklyn, NY $1,700,000: 91 Payson – New York, NY $650,000: Fifth on the Park – New York, NY $365,000: Iron Horse…
LOANS CLOSED $1,500,000: Huron Pointe Condominium Association – Chicago, IL $60,000: Katy Oaks HOA – Katy, TX CASH MANAGEMENT Preserve Master Maintenance Corp – Chino, CA: Designated as agent to manage CD ladder for client’s $3,400,000 portfolio Arrowood Master Association – San Diego, CA: Designated as agent to manage CD ladder for client’s $2,700,000…
Best Practices for Managing the Insurance Renewal Process Managing your association’s insurance renewal can be a long, drawn out, and time consuming ordeal, that always seems to come down to the last minute. Creating a game plan and controlling the process will put you in a better position to obtain quality proposals in a timely…
LOANS CLOSED $17,000,000: 200 East 57th – New York, NY $3,100,000: 141-60 East 84th – Queens, NY $2,000,000: Sanderling Condominiums – Centreville, VA $1,700,000: Residences at Brambleton II Condo. Assoc. – Ashburn, VA $1,500,000: Fordham Terrace – Bronx, NY $1,000,000: Morgan Court Condominium– New York, NY $993,750: Evans Tower Condominium – New York, NY $950,000:…