Parking Expenses & AH-HVAC

Audit Findings

• Landlord did not apply parking revenues from parking-related expenses – including taxes and insurance – as required by Lease;
• New landlord retaining 25% of AH-HVAC revenue as "profit".

Client Gains - $1.25M Immediate Savings / $1.95M Total Over Term

• Audit settlement required separate claims / negotiations with prior and current owners;
• Historical period refund = $1.25 Million from current and prior owner;
• Eliminated AH-HVAC “profit” issue with new owner.