real estate appraisal · consultation · sales · development...

Rex-McGill, Inc. Real Estate Appraisal · Consultation · Sales · Development

Since 1926

Corporate Qualifications

940 N. Highland Avenue, Suite 100

Orlando, FL 32803

TABLE OF CONTENTS

BUSINESS ADDRESS

FIRM HISTORY

BUSINESS PROFILE

ASSIGNMENT TYPES

PROFESSIONAL DESIGNATIONS

APPRAISAL CLIENTS

REFERENCES

ORGANIZATIONAL CHART

PERSONNEL QUALIFICATIONS

CORPORATE QUALIFICATIONS Rex-McGill, Inc.

940 N. Highland Avenue, Suite 100 Orlando, Florida 32803

BUSINESS ADDRESS Rex-McGill, Inc. 940 Highland Ave. Suite 100 Orlando, Florida 32803 Telephone: (407) 425-5581 Facsimile: (407) 649-9188 E-Mail Address: [email protected]

FIRM HISTORY

Rex-McGill, Inc. was incorporated in 1987, as a Florida corporation by Charles W. Rex III, MAI, and Randall L. Rex, MAI. The company has direct roots to Rex-McGill Investment Company Inc., which was formed in the City of Orlando in 1926 by J. Walter Rex, Charles Walton Rex Sr., and Forrest McGill. J. Walter Rex is the great grandfather of Charles W. Rex III and Randall L. Rex. In 1932, Charles Walton Rex, Sr. became an Organization Member of the American Institute of Real Estate Appraisers (AIREA), with Certificate No. 43. Four generations of Rex’s have been principals in “Rex-McGill.” Succeeding organizations have included Rex-McGill Realty, Inc, and Rex-McGill Appraisal Company, Inc. Randall L. Rex has been associated full-time with “Rex-McGill” since 1980. Charles W. Rex III is no longer a principal in Rex-McGill, Inc. Rex-McGill, Inc. has become a member of the Rex, Pinel, Gardner, and Williams LLC in 2002. The association of these Firms allows for the sharing of resources and expertise over a broad area of property types and uses. Randall L. Rex, has become the Managing Partner in Fisher, Gordon, Rex LLC (formerly Fisher Realty Services) located in Daytona Beach, Volusia County, Florida. This company expands the geographical reach of Rex-McGill, Inc. and again allows for valuation of a broad area of property uses and types through the expertise of the Firm’s Appraisers.



BUSINESS PROFILE

Appraisal/Consulting Rex-McGill, Inc. has ongoing experience in a full range of real estate appraisal activities, including commercial, residential, and special purpose properties. We provide appraisals for financial institutions, attorneys, governmental agencies, corporations and individuals. In addition, we provide a wide variety of market studies and consulting services. Rex-McGill, Inc. was re-organized in 1987 for the purpose of developing an organization that provides quality appraisal services with maximum MAI involvement. The structure of our organization allows us to efficiently take on a large array of projects. These projects are accomplished in a timely manner with the best in quality services. Additionally, we have specialized in large projects over the past several years for both private and public clients.

The Firm’s library contains sufficient information for research and all necessary data to accomplish its appraisal assignments. Sources include Real Estate Data, Inc. publications, Microdecisions, Appraisal Loopnet and Comps Costar, on-line property appraisers records, public records on microfilm, plats, aerials, etc. In addition, our Firm’s sophisticated computer system includes a database of market information on sales and other real estate activities, which allows our staff to access the most recent and accurate information possible. Brokerage/Development New to 2003 for Rex-McGill, Inc is the focused practice of commercial real estate brokerage and development. While the Firm averages $1 million a year in real estate brokerage sales and undertaken development projects in the past, it has directed an attentive effort on strengthening and pursuing this market. Development projects include: • Maitland Club, a 120 lot upscale community located at Interstate 4 and Maitland Boulevard • River Oaks Landing, a 65 lot riverfront development located on the Little Econlocknahatchee

River, south of University Boulevard • Lake Adair Place, a 12 lot development located at the corner of Edgewater Drive and Lake

Adair Current projects include Wildmere Village, an 16 lot development in Longwood. With the addition of an associate of Commercial Sales and Development, the manpower is now in place to further capitalize on brokerage and development opportunities.



ASSIGNMENT TYPES

The following types of appraisal assignments have been accomplished by Rex-McGill, Inc.: • Office buildings, shopping centers, restaurants, warehouses, industrial buildings, industrial

parks and mobile home parks. • Condominium projects, apartment complexes, hotels and beachfront properties. • Churches, camps pari-mutuels, post offices, theatre buildings, and nursing homes. • Transferable development rights, easements, air rights, leaseholds and leased fee estates. • Single Family residential lots and homes to large community developers. • Citrus groves, packing houses (both vegetable and citrus), citrus concentrate plants, foliage

nurseries, dairy farms, ranches, mangrove lands, wetlands and timberlands up to 235,000 acres.

• Subdivisions from 10 acres, or so, to community developments of over 15,000 acres. • Planned Unit Development (PUDs) of several hundred acres to 2,000 acres. • Condemnation/eminent domain projects for road right-of-way acquisition.

PROFESSIONAL DESIGNATIONS

The following principals and associates of Rex-McGill, Inc. are members of the Appraisal Institute, holding the MAI designation: • Randall L. Rex Certificate No. 7558 The following principals and associates of Rex-McGill, Inc. are Florida Certified General Appraisers: • Randall L. Rex License No. 0000815 • Christopher A. Rolly License No. 0001743 The following appraisers are in association with Rex, Pinel, Gardner and Williams, LLC and Fisher, Gordon, Rex LLC: • Thomas H. Pinel, Jr. • Calvin Gardner, MAI • Daryl Williams, MAI • Cliff Fisher, MAI, CRE • Kathy Gordon The following principals and associates of Rex-McGill, Inc. are Licensed Assistant Appraisers: • Michael Daniel License No. 0013255 • Robert A. Ellis License No. 0011480 • Britany L. Baugher License No. 0008689 • Jessica Jancek License No. RI4757 The following principals and associates of Rex-McGill, Inc. are Licensed Florida Real Estate Salespersons and/or Brokers: • Randall L. Rex License No. BK349980



APPRAISAL CLIENTS

Governmental. The following is a partial list of governmental agencies which Rex-McGill, Inc. has performed appraisal assignments: City Agencies • City of Kissimmee • City of Ocoee • City of Orlando • City of Winter Park • Orlando Aviation Authority • Orange Parking Authority • County Agencies • Orange County Board of County

Commissioners • Orange County School Board • Orange County Right-of-Way • Orange-Seminole-Osceola

Transportation Authority

State Agencies • State of Florida • Florida Department of Natural

Resources • Florida Department of Transportation • South Florida Water Management

District • Southwest Florida Water Management

District • Federal Agencies • Internal Revenue Service • Resolution Trust Corporation • United States Postal Service and

Division of State Lands

Institutional. The following is a partial list of institutional appraisal clients for which Rex-McGill, Inc has performed appraisal assignments: • Barnett Bank of Florida Inc. • Coral Gables Federal • Delta Life and Annuity • First Federal of Seminole County • First Fidelity Savings and Loan • First National Bank of Hollywood • First State Savings and Loan • First Union (Citizens and Southern

Bank) • Florida Federal- St. Petersburg • Harris Trust • Indianapolis Life Insurance Co. • Liberty Properties Group Inc. • Midatlantic National Bank

• Modern Woodmen of America • National Bank of Commerce • NationsBank- Florida • Pittsburgh National Bank • PNC Holding Corporation • Royal Trust Bank of Orlando • Southern Farm Bureau • SouthTrust Bank of Orlando • SouthTrust Bank of Alabama • St. Petersburg Federal • SunBank of Florida, Inc. • Trust Company of Georgia • Various Mortgage Companies



Corporate. The following is a partial list of corporate appraisal clients for which Rex-McGill Inc has performed appraisal assignments: • A. Duda and Sons, Inc. • American Advents Corporation • American Can Company • American Cynamid • Arvida Corporation • Baker & Hostetler P.A. – Orlando • Bob Paul, Inc Groves • Buckeye Cellulose Corp. • Carnegie Properties • Chase & Company • Chester C. Fosgate Company • Chevron U.S.A, Inc. • CMEI, Inc • Coca-Cola Company • Correct Craft • Dancer • Dean, Mead, Egerton, Bloodworth,

Capouano & Bozarth • Dearing & Smith – Tallahassee • Del American Properties • Deltona Corporation • Federal Land Bank • Fitzgerald and Sample • Florida Power Corporation • Foley & Lardner, van den Berg, Gay,

Burke, Wilson and Arkin, P.A.

• Gilman Paper Company • Goldman Sachs & Company • Greenberg, Traurig, Askew, Hoffman,

Lipoff, Quentel & Wolff • Growers Container Corporation • Gulf Oil Company • Hess Oil Company • Hi-Acres, Inc • HNC Realty Advisors, Inc • Holiday Inns of America • H.P. Hood & Sons, Inc • Hughes & Supply • Humana, Inc. • I.D. S. Mortgage Company • James Felt Realty Services, Inc. of New

York City • Lake Charm Fruit Company • Libby, McNeill & Libby • Martin Marietta Aerospace Corp. • Merrill-Lynch Hubbard- New York City • Murrah & Doyle- Winter Park • The Myers Group • The Nature Conservatory • Nekoosa Packaging • Ocala Manufacturing Ice and Pkg.

Residential. The following is a partial list of appraisal clients for which Rex-McGill, Inc has performed residential appraisal assignments: • Barnett Bank of Central Florida • Carteret Savings • California Federal Savings & Loan • Citizens and Southern Bank • Citrus State Mortgage • Commercial State Bank • Community State Mortgage • Firstate Savings & Loan

• First Union National Bank • Intercontinental Bank • Lochaven Federal Savings and Loan • NationsBank Trust • Peoples First • SunBank, N.A. • SunBank Mortgage • SunBank Trust



REFERENCES

Public Sector. The following is a partial list of references of public sector clients: Orange County Real Estate Management Department Mr. William Hurt Orlando, Florida Telephone: (407) 836-7087 Orange County Assistant Attorney James Moreland, Esquire Orlando, FL Telephone: (407) 836-0000 Florida Power Corporation Mr. Charles Foreman, Attorney 320 Northwest 3rd Avenue Ocala, Florida 34475 Telephone: (904) 732-3915 For Randall L. Rex. The following is a partial list of references for Randall L. Rex: Robert “Topper” Peacock, Esquire Zimmerman, Shuffield, PA Orlando, Florida Telephone: (407) 425-7010 Mr. Sid Cash Century National Bank Maitland, FL Telephone: (407) 647-7100

Mr. Baxter Bode The Interlachen Group Winter Park, Florida 32790 Telephone: (407) 539-1600 Mr. Cole Whitaker Cole Whitaker Realty Orlando, Florida 32801 Telephone: (407) 423-0500 Mr. Charles Foreman, Attorney Florida Power Coporation 320 Northwest 3rd Avenue Ocala, Florida 34475 Telephone: (904) 732-3915



REX-MCGILL, INC. ORGANIZATIONAL CHART Rex-McGill, Inc.

Randall L. Rex

AdministrativeAssistant

Robert A. Ellis

Chris Rolly

Randall L. Rex

Appraisal/ Consultation

Britany L. Baugher

Randall L. Rex

Leslie Rex

Development Brokerage

Mike Daniel Karen Redley



PERSONNEL QUALIFICATIONS

QUALIFICATIONS OF RANDALL L. REX, MAI

Business Address Rex-McGill, Inc., 940 N. Highland Avenue, Suite 201, Orlando, Florida 32803 Office (407) 425-5581 • Facsimile (407) 649-9188 • Cellular (407) 758-5581 Education Graduate of Lake Highland Preparatory School, Orlando, Florida, 1979 Majored in Business, with miscellaneous courses in Building Cost Estimating, Residential Building, and Critical Path Method (Building Course) at the University of Alabama, as well as the University of Central Florida and Valencia Community College, in Orlando, Florida. The following courses have been completed under the direction of the Appraisal Institute (formerly the American Institute of Real Estate Appraisers and The Society of Real Estate Appraisers): • Appraisal Principals and Practices (1A-1) • Appraisal Basic Valuation (1A-2) • Direct Capitalization Theory & Techniques

(1B-1) • Annuity Capitalization Theory &

Techniques (1B-2) • Mortgage-Equity Capitalization Theory &

Techniques (1B-3) • Case Studies in Real Estate Valuation (2-1) • Valuation Analysis and Report Writing (2-2) • Standards of Professional Practices (1986,

1990) • The electronic Spreadsheet in the Appraisal

Office (1985) • Rates, Ratios, and Reasonableness (1987) • Litigation Valuation (1987) • Appraising for Pension Portfolios (1988) • Appraising Troubled Properties (1992) • Appraisal Review Program (1993) • Standards of Professional Practice, Part A

(1994)

• Standards of Professional Practice, Part B (1994)

• Law Update (1994) • Less Than Fee Acquisition (5/1996) • Standards of Professional Practice (1996) • USPAP Core Law (1996) • Less than Fee Acquisition (12/1996) • Real Estate Brokers Cont. Ed. (9/96) • Condemnation; Legal Rules of Appraisal

Prac. (5/97) • Internet and Appraising (2/97) • Uniform Standards of Professional

Appraisal Practice (11/2002) • Florida Real Estate Appraisal License Law

and Appraisal Board Regulations (11/2002) • Appraisal Research and Analysis (11/2002) • Sales Comparison Approach (11/2002) • Residential Subdivision Analysis (11/2002) • Neighborhood Analysis (11/2002) • Communicating the Appraisal (11/2002)

The Appraisal Institute conducts a program of continuing education for its designated members. MAI’s and SRA’s who meet the minimum standards of this program are awarded periodic educational certificates. Randall Rex, MAI is certified under this program through December 31, 2003 Professional Organizations

• Member - Appraisal Institute, MAI Designation, No.

7558 • State-Certified General Appraiser (Florida) No. 0000815 • Registered Florida Real Estate Broker, No BK0349980 • Founding Member - Future Leaders Council of Central

Florida • Member/Board of Trustees - Lake Highland Preparatory

School • Finance Chairman – Lake Highland Preparatory School

• Member - Young Advisory Council of the Appraisal

Institute • Former Institute Coordinator Masters Program - Univ. of

Florida • Member/Board of Directors - East Coast Florida Chapter

AI • Member - Experience Review Committee - Appraisal

Institute • Member – Real Estate Advisory Board for the University

of Florida

QUALIFICATIONS OF RANDALL L. REX, MAI (CONTINUED)

License and Experience Licensed Real Estate Salesman (Florida), Since October of 1980 President of Rex-McGill, Inc. President of Maitland Club, J.V., a Rex-Gallimore Development President of Rex-Maitland Corporation President of A.R2.T. Development Company, Inc. President of River Oaks of Orange County Appraisal Research for Thomas H. Pinel, MAI, and Charles W. Rex, III, 1977 to 1979 Associated with Rex Development Corporation, January 1981 to Present Associated with Pinel, Rex & Carpenter, Inc. April of 1983 to November of 1987 Completed appraisals on vacant land, residential dwellings, condominium projects, office buildings, and commercial properties in Central Florida under the direction of Robert K. Bell, Jr., MAI and Bell & Associates, Inc., September of 1981 to April of 1983 Appraisals have been made for Federal Savings and Loan Associations, corporations, law firms, government agencies, and individuals Qualified Expert Witness • Brevard County, Florida • Federal - Middle District of Florida • Hernando County, Florida • Highlands County, Florida • Orange County, Florida • Seminole County, Florida

QUALIFICATIONS OF CHRISTOPHER A. ROLLY Business Address Rex-McGill, Inc. 940 N. Highland Avenue, Orlando, Florida 32803 Office (407) 425-5581 • Facsimile (407) 649-9188 • E-Mail – [email protected] Education Graduate of Florida State University, Tallahassee, Florida 1989 Bachelor of Science Degree in Business Administration, with major in Real Estate. Appraisal Courses Completed • Real Estate Appraisal Principles and Practices (Course IA-i) • Basic Valuation Procedures (Course 1 A-2) • Capitalization Theory and Techniques, Part A (Course 1 A-2) • Real Estate Law • Real Estate Finance • Real Estate Feasibility and Analysis • Advanced Appraisal Techniques Real Estate Appraised • Vacant Land • General Office • Medical Office • Industrial • Multifamily • Citrus Groves • Nurseries • Adult Congregate Living Facilities • Surgical Centers • Free Standing Retail • Shopping Centers • Automobile Dealerships

• Estates • Power Plants • Automobile Repair Facilities • Airplane Hangars • Day Care Facilities • Islands • Limestone Mines • Churches • Residential Subdivisions • Mobile Home Parks • Planned Developments • Condemnation Land

License and Experience • Florida State-Certified General Appraiser No. RZ0001743 • Georgia State-Certified General Appraiser • Appraisal Associate with Rex-McGill, Inc. since November of 1995 • Appraisal Associate with Beaumont Appraisal Group, Inc. – November 1990 to November of 1995 • Appraisal Associate with Real Estate Consulting Services, Inc. – November, 1989 to November of

1990

QUALIFICATIONS OF BRITANY L. BAUGHER

Business Address: Rex-McGill, Inc. 940 N. Highland Avenue, Orlando, Florida 32803 Office (407) 425-5581 • Facsimile (407) 649-9188 Education: Graduate of Eastern Mennonite College, Harrisonburg, Virginia 1993 Bachelor of Science Degree in Business Administration. Appraisal Courses Completed: Real Estate Appraisal Principles and Practices (Course IA-1) Real Estate Appraised • Vacant Land • General Office • Medical Office • Industrial • Multifamily • Free Standing Retail • Shopping Centers • Estates

• Power Plants • Automobile Repair Facilities • Islands • Churches • Residential Subdivisions • Planned Developments • Condemnation Land

License and Experience: Florida State-Registered Assistant Appraiser License # RI8689 Appraisal Associate with Rex-McGill, Inc. since July of 2001

QUALIFICATIONS OF MICHAEL DANIEL

Business Address: Rex-McGill, Inc. 940 N. Highland Avenue, Orlando, Florida 32803 Office (407) 425-5581 • Facsimile (407) 649-9188 Education: Graduate of Santa Fe Community College, Gainesville, Florida 2000, 2001 Associate of Science Degree in Automotive Technology Associate of Arts in Advertising Appraisal Courses Completed: Real Estate Appraisal Principles and Practices (Course AB-1) Real Estate Appraised • Vacant Land • General Office • Medical Office • Industrial • Multifamily • Nurseries • Adult Congregate Living Facilities • Surgical Centers • Free Standing Retail

• Shopping Centers • Estates • Automobile Repair Facilities • Day Care Facilities • Churches • Residential Subdivisions • Planned Developments • Condemnation Land

License and Experience: Florida State-Registered Assistant Appraiser License # RI13255 Appraisal Associate with Rex-McGill, Inc. since November of 2003

QUALIFICATIONS OF JESSICA K. JANCEK

Business Address: Rex-McGill, Inc. 940 N. Highland Avenue, Suite 100, Orlando, Florida 32803 Office (407) 425-5581 • Facsimile (407) 649-9188 • E-Mail – [email protected] Education: Graduate of the University of Central Florida, Orlando, Florida 2003 Bachelor of Arts Degree in Communications. Appraisal Courses Completed: Real Estate Appraisal Principles and Practices (Course IA-1) Real Estate Appraised: • Vacant Land • General Office • Industrial • Multifamily • Free Standing Retail • Towing Company • Estates • Cold Storage Warehouses • Dog Day Care Facilities • Churches • Planned Developments • Residential Golf Community • Hotels License and Experience: Florida State-Registered Assistant Appraiser License # RI14757 Appraisal Associate with Rex-McGill, Inc. since March of 2004

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