This week marked the transition to a new portfolio with a focus on accounting. This portfolio contains three class B office buildings in the Warehouse District and the CBD (Central Business District). As I have with each property that I have worked at during my internship, I have spent the first couple of days touring. All three of the properties have a very interesting history with one of the properties being constructed in 1886, and another one being the first Federal Reserve bank in Minneapolis which still has the multi- level safe inside. It was fascinating to be able to explore the safe and the basements of such old buildings.

              While there was a sizable amount of time devoted to learning more about accounts payable and financial reports such as budgets, most of this week was spent tackling a water leak emergency. The water main and steam line the feeds into one of the building broke and as a result, flooded part of the first floor and the basement. It was a great learning experience to see how the water was shut off, vendors were contacted, the affected spaces were cleaned up, the walls were dried out, and the sidewalk was dug up to make the repair. It was a stressful process to coordinate all the work, but everything was completed quickly and seamlessly.

              During the process of remediating the damage caused by the water leak, I was given the opportunity to read through a lease for the tenant that experienced the most damage to attempt to better understand what damages the landlord was responsible to repair verses the tenant. Overall, it was an extremely busy and hectic week that was filled with some excellent learning opportunities!

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