Our Capabilities – People & Experience in the Latin American / Caribbean Markets

1. Our Capabilities – People & Experience
in the Latin American / Caribbean Markets
Latin America-Caribbean Valuation & Advisory Services
Gary E. Laughton, AACI, P.App API, MRICS
Vice President Valuation Services Latin America-
Accelerating success. Caribbean
Colliers International Latin America LLC

2. Colliers International
Colliers International is one of the world’s leading providers of real estate and transactional
services operating 522 offices in 62 countries worldwide. With approximately 12,300
professionals, the company offers a complete range of integrated real estate services on a local,
regional, national and international basis. These services include brokerage, advisory, valuation,
project management, hotel and corporate services.
During the past several years Colliers International has created the foundation for the first and
largest fully integrated commercial real estate Services Company in Latin America. With 16
offices in the major centers of Latin America from Mexico to Argentina, Colliers International is
truly a regional service provider. By combining solid experience with top people and advanced
technological tools, Colliers offers representation that is both professional and thorough.
2

3. Latin American / Caribbean Valuation Services
Our Services - Our Team- Our Clients

4. Providing the Following Core Advisory
Services:
Corporate Services Investor Services Resources
• Asset/Portfolio Strategies • Valuations • Marketing
• Consulting • Consulting • Research
• Highest and Best Use • Acquisition / Disposition Strategies • Technology
• Site Selection • Realty Taxes • Brokerage Networks
• Building Assessment • Market Research • Local Offices
• Development Management • Finance
• Design/Build • Asset Management
• Project Management
• Master Planning/Civic Approval
• Sale/Leaseback
• Real Estate Taxes
• Market Research
• Financial Analysis
• Mergers, Acquisitions and
• Transaction Consulting
• Valuation
• Facilities Management
• Benchmarking
• Lease Audit
4

5. Our Team
Members of our team are market leaders in their individual areas of
expertise, consulting, project management and disposition.
Colliers International Ranked Among Top 100 Global Outsourcing
Companies and a top commercial real estate service provider since
the inception of the ranking.
5

6. Gary Laughton, AACI, P.App., AAPI, MRICS
Vice President Valuation Services / Latin America-Caribbean
• Affiliated with Colliers since 1995 and has provided appraisal and real estate
consulting services for over 29 years in Canada, the United States, Australia,
Southeast Asia and Latin America.
• Provides expert valuation and strategic real estate support services to clientele
with large real estate holdings.
• Has completed numerous consulting / valuation assignments for all major
Canadian Banks and Life Companies, Bank of America, Citicorp, the Bank of
Tokyo, and North American and European Investment and Pension interests.
• Has completed valuations / consulting assignments throughout Brazil for
Canadian pension interests, Walmart in Argentina, and various clients in
Mexico, Costa Rica, Panama, Honduras, Belize and the Caribbean.
• Responsible for the implementation of a valuation educational project in
association with the Government of Belize and Inter American Development
Bank for Assessors and Bankers in Belize. Provides valuation and consulting
advisory services to one of Europe’s largest resort developers in projects in
Latin America – Caribbean.
6

7. Chris Maugeri, AACI, Hons B.A.
Managing Director Valuation & Consulting Services - Mexico
Over the past 14 years, Chris has been involved in the valuation of large multi-
asset real estate portfolios in Canada, Mexico, Brazil, Colombia, Argentina,
Panama and the United States as well as performed a number of Highest and
Best Use and Market Studies. Chris is responsible for the management of
Appraisal and Consulting Division across Mexico with offices in Mexico City,
Guadalajara, Monterrey, Tijuana, Puebla, Cd. Juarez, Reynosa, Queretaro and
Cancun.
Project Experience:
Property Valuations and Consulting Assignments. Directly responsible for
the valuation and analysis of a wide range of asset types, including:
• Hotels and resorts
• Development land
• Industrial
• Retail
• Office
• Special Purpose properties
7

8. Gordon Easton, B.A., M.E.S.
Director, Planning and Development Management
Joined Colliers in 2005 and has provided public & private sector clients with a
wide range of consulting services for over 16 years.
• Provides creative development solutions for complex planning and
construction related issues
• Provides a wide range of Urban Planning Services including:
o OCP Amendments
o Rezoning and Development Permits
o Subdivisions
o Master planning & Preparation of Design Guidelines
o Public Communication Strategies
• Provides comprehensive Development Management Services including
consultant selection/co-ordination, management of design, budget and
schedule, and the administration of construction related activities
8

9. Aris Stamatiadis
Regional Manager / Central America
Aris Stamatiadis joined Colliers International in June 2005 as Manager for the
Central American operation of Colliers International. He has initiated and
consolidated the Corporate Services, Valuations & Consulting, Market Research,
Investment and Brokerage Service divisions for Colliers International in the
region.
He has been involved in a wide range of transactions including corporate
services deals for Intel, Cisco Systems, Nestle, Pricesmart, Tech Data, Equi-fax,
Peoplesupport, Sony Corporation, Interamerican Development Bank, DHL among
many others. He has also structured and executed diverse consulting
assignments with important local and international developers, banks and
corporate clients such as Wal-Mart, Lehman Brothers, Pricewaterhouse Coopers,
Citibank, GBK Desarrollos Inmobiliarios, FZBP Developers, CPG, Portafolio
Inmobiliario, Grupo Agrisal, Peninsula Papagayo, Desarrollos Mega, DWL and
Reserva Conchal. Moreover, he has consolidated the Investment Services
division dealing both with local and international private and institutional
investors such as Aldesa, Improsa, Banco de Costa Rica, Kimco Realty, GE Real
Estate among others
9

10. Vicente Gamboa
Associate
Vicente has been involved in projects in both North America and Latin
America, including valuations in Canada, Mexico, Brazil, Argentina,
Central America and the Dominican Republic.
He has performed research and due diligence for appraisals in markets
where information is not easily available, including the Mayan Riviera, Baja
California Sur, Ambergris Caye in Belize, Mexico State, the Pearl Islands in
Panama and several regions in the Dominican Republic. More recently he
has been involved in investment analysis for highest and best use studies
in a number of neighbourhoods in Costa Rica as well as portfolio
appraisals in South America. Vicente is fluent in English and Spanish with
advanced Portuguese.
10

11. Loida Oyuela
External Consultant
For the past three years Loida has assisted in valuations in Panama,
Dominican Republic, Belize and Mexico.
She majored in Architecture in Honduras, and completed Master’s
Program studies in Real Estate Management in Sweden from 2006 until
2008.
Since 2008, she has collaborated with Colliers as an External Consultant
contributing her researching skills and market knowledge in appraisals in
Central America, the Caribbean and Mexico.
Loida is fluent in English and Spanish, currently based in Honduras.
11

12. Corporate Case Studies
Latin America-Caribbean Valuation & Advisory Services

13. The Public Sector Pension Investment
Board (PSP Investments)
PSP Investments is a Canadian crown
corporation with annual net contributions of
approximately $4 billion. We were recently
awarded a three year contract to complete
valuations on a 31 office – shopping centre
portfolio for PSP in Brazil.
13

14. Colombian Market
Colliers has been retained to value the real
estate portfolio on an annual basis for three
years. The portfolio currently consists of 12
single and multi-tenant retail, office and
industrial properties located throughout Bogota
and Medellin.
The client is moving towards International
Standards of Valuation/ USPAP and away from Estrategias Corporativas
Colombian REIT
the traditional cost based valuations used
within the Colombian market. Colliers is the
first company to provide this type of service
within the Colombian real estate market.
14

15. Prudential Financial – Latin America
Colliers has been retained by Prudential Real
Estate Investors- Latin America on an ongoing
basis to value industrial properties, shopping
centers and vacant residential developments
throughout Mexico. The purpose of these
assignments has been for internal use, financing
purposes and in the case of vacant parcels of
land for potential acquisitions.
15

16. Deutsche Bank – Mexico
Colliers was retained by Deutsche Bank’s
Mexican Advisory Group, Fenix, to perform due
diligence and valuation services on a total of
1,200 assets located throughout Mexico over a
period of four years to assist in their efforts to
acquire IPAB related debt portfolio packages.
Research was completed and a summary
valuation of each asset was prepared, focusing
on particular key property, market and
investment characteristics. Ultimately the
portfolios were appraised for the client and were
approved by the auditors.
16

17. European Investment Fund
Valuation of a number of resort properties in
Latin America for acquisition purposes.
One of the largest resort investment groups on
the alternative investment market [London
stock exchange] with assets in excess of 2.0
billion USD were diversifying their portfolio
with acquisitions in Latin America - Caribbean
region. This long standing Colliers European
client commissioned Colliers Latin American
Valuation and Advisory Services for all their
acquisitions in Latin America - Caribbean.
17

18. 21.0 Million Square Feet
Colliers was commissioned to value Prologis’
entire Mexican industrial portfolio, including a total
over 150 assets and over 21.0 million square feet
located within twelve industrial markets throughout
Mexico. The valuations were required for internal
and financing purposes.
18

19. Portfolio Government of Canada Offices
Colliers was commissioned to provide appraisals
for the Government of Canada Office Portfolio.
An investment client was to submit a bid for a
sale leaseback offering, and to strengthen their
bid wished to complete as much pre-offering due
diligence as possible, including having
independent market value appraisals completed.
These appraisals also assisted in securing
financing for the acquisitions. The portfolio
appraised had a total value of $1.6+ billion.
19

20. OMERS, OTPP and HOOPP Portfolios
Colliers has assisted OMERS, OTTP and HOOPP in
determining annual reporting values for packages of a
wide variety of retail, industrial and office assets across
Canada. In each instance, multiple properties were
valued with tight timelines and required significant
attention to detail.
20

21. Sears
Colliers provided Sears Canada with value estimates for a large
majority of their owned department stores and distribution
warehouses across Canada, as well as their head office on a basis
that meets their needs – high quality, accurate analysis in an
incredibly short turnaround time. Colliers achieved this goal by
mobilizing our resources in all offices across the country and coordinating
key milestones and deliverables, such as inspection
dates, data gathering and report delivery and ensuring
consistency of reporting, analysis and results where appropriate
while allowing the unique nature of each marketplace to be
captured.
21

22. Global Study
KPMG. Colliers International was the key participant in
completing the real estate cost component of KPMG’s
report competitive alternatives, which covered 115 cities
in Austria, France, Italy, Germany, the Netherlands,
Canada, the United States and Japan. The international
report looked at the impact of 27 cost components,
including real estate, labour, taxes, transportation and
energy. This report will help international companies to
make global business and real estate decisions.
22

23. What’s the Best for Intrawest?
Intrawest Corporation, the leading developer and
operator of village-centered destination resorts
across North America retained Colliers to provide
a high level review of their resort real estate
holdings for nine of their seventeen resorts in
both the Canadian and American markets. As
part of a restructuring process where the real
estate sale operations were separated from the
resort business, Intrawest and a major financial
services corporation hired Colliers to consult on
the current and long range position of Intrawest’s
real estate holdings.
23

24. Unique Case Studies

25. Water Caye, Belize
Water Caye, is a 450 acre island lies approximately 12
miles southeast of Belize City. This corporately owned
island required a valuation to assist in its determination of
market value on an “As Is” basis. Additionally, a market
survey of residential developments, along with an estimate
of local market absorption and pricing for competing
developments assisted the management in decision making
regarding possible disposition, partnership or development.
25

26. Frenchman’s Caye
203-acre Island located approximately 9 miles north
west of Belize City. Family interests had owned this
unimproved island for a considerable period and
they required an appraisal for estate planning
and/or disposition purposes.
26

27. Long Caye
650 acre Island that lies approximately 45 miles
east of Belize City on Lighthouse Reef Atoll with
an allowable land use for 1200 residential
parcels, with approximately 650 sites being
surveyed and about 284 parcels that have been
previously sold. The owners required a valuation
to estimate the market value of the residual lands
remaining undeveloped on Long Caye.
27

28. Pirate’s Cove, Honduras
Pirates Cove, a 160-acre development site on
the windward side of Roatan, Bay Islands,
Honduras. This site will be developed with a flag
hotel and upper income condominiums and
individual home sites. COLLIERS completed this
valuation assignment along with others on the
island for investor equity interests.
28

29. Villa Punta Ballena, Samana, Dominican
Republic
Comprising over 40 acres of ocean front land. The
proposed development for this site includes a five star
resort, casino, conference facilities, and residences.
Colliers completed a valuation to estimate the market
value of the property on an “As Is” basis for financing
purposes.
29

30. Feasibility Study
Ambergris Caye is the largest of 200 islands off
the coast of Belize, and the northern part of the
island is the proposed site for a 2,000-
condominium unit and golf course development
30

31. Foreclosure Assignment
500+ acre Four Star Hotel Resort Development,
Guanacaste, Costa Rica for American Financial
interests. Site was to be developed with Hotel
Resort with associated signature golf course,
Condominium units, Villas, single family homes,
and commercial centre.
31

32. Gary Laughton Alejandro Badino Jr.
Vice President Valuations Business Planning Manager
Latin America / Caribbean Maipu 1300, Piso 16
Corporate Services Division Buenos Aires, Argentina
Courvoisier Centre II Main Phone: 54.11.4315.2100.30
601 Brickell Key Drive, Suite 402 Email: ahbadino@colliers-arg.com.ar
Miami, Florida 33131, USA
Main Phone: 604.681.4111 Ricardo Varela
Direct Phone: 604.662.2614 Office Manager
Email: gary.laughton@colliers.com Av. Almirante Barroso 63 Sala 1108
Rio de Janeiro, Brazil
Vicente Gamboa Main Phone: 55.21.2524.4242
Consultant Email: rvarela@colliers.com.br
Colliers international Realty Advisors Inc.
One Queen East, Suite 2200, Toronto Roberto Cáceres
Ontario M5C 2Z2, Canada Managing Director
Main Phone: 1-416-643-3711 Carrera 13 A #96-24
Direct Phone: 604.661.0802 Bogotá, Colombia
Email: vicente.gamboa@colliers.com Main Phone: 571.594.2333 ext. 216/217 TORONTO
Email: rcaceres@colliers.com.br
Chris Maugeri
Director of Appraisal and Consulting Eric Rey De Castro
Services, Mexico Managing Director MIAMI
Av. Paseo de la Reforma No. 265, PB Av. San Borja, Norte 793, San Borja
Mexico City, Mexico Lima, Peru MEXICO TEGUCIGALPA
Main Phone: 52.555.209.3636 Main Phone: 51.1.224.0804 CITY BOGOTÁ
Direct Phone: 52.555.209.3655 Email: ereydecastro@colliers.com.pe SAN JOSÉ
Email: cmaugeri@colliers.com
A. Paul Tacchi
Aris Stamatiadis General Manager
Regional Manager Central America Av. Kennedy, No. 5454, Oficina 1001 LIMA
Oficentro Torres del Campo, Torre 1, Piso 3 Santiago, Chile RIO DE JANEIRO
San José, Costa Rica Main Phone: 562.496.1509
Main Phone: 506.2257.3000 Email: paul_tacchi@colliers.com.cl SAO PAULO
Email: aris@colliers.com
Paula Casarini SANTIAGO
Manager CIRA Division BUENOS AIRES
Ed. Continental Square Faria Lima. Rua Olimpíadas, 205
cjt.12
Sao Paulo, Brazil
Main Phone: 55-11-3323-0047
Email: pcasarini@colliers.com.
Contact
Info.