Risk Management / Compliance Procedures

»Peach Finance Services Insurance Programs:
  • Peach Finance Services maintains customary policies of insurance covering its activities as an employer, asset manager and property manager. Peach Finance Services’s third-party property managers also carry customary policies of insurance.
»Property Insurance Programs:
  • Each individual property in the Peach Finance Services portfolio maintains insurance policies, typically:

Property insurance, commercial general liability insurance, rental loss and/or business interruption insurance, and such other forms of insurance that a property owner or lender considers advisable from time to time.

»Claims Processes:
  • Peach Finance Services is involved with the claims administration process. Claims generally tend to fall into two categories: property damage and personal injury/slips and falls.
  • For all such incidents, property managers prepare electronic incident reports within 24 hours of the incidents that are then instantly distributed to ownership’s risk management, Peach Finance Services personnel and other pertinent parties.
  • For property damage, Peach Finance Services and its third-party managers assist the insurance claims adjustors by providing necessary information, including incident reports, estimates of damage, pictures or video recordings, witnesses, inspections, and timing of repairs.
  • For personal injury/slips and falls, Peach Finance Services and its third-party managers assist insurers with an understanding of the incident, parties obligated to indemnify the owner, and coordination with insurance counsel assigned to defend the owner.
  • If Peach Finance Services believes that any such incidents pose a recurring risk, Peach Finance Services and its third-party property managers propose courses of action.
»Emergency Response Protocols:
  • Property Level Protocols

Each property has an emergency action plan in place that has been devised in accordance with best practices.  All on-site property teams have been trained on individual action plans.

The severity of an incident drives the intensity of Peach Finance Services involvement in directing response and communication with the property team, authorities, first responders and tenants, as well as apprising Peach Finance Services senior leadership and partners of the situation and status.

Each property has Life Safety and Security systems and processes in place with periodic desktop training exercises conducted with on-site property, security and other vendor teams.

  • Peach Finance Services Corporate Level Protocols

Peach Finance Services has a Business Continuity/Disaster Recovery (“BCDR”) Plan in place and has trained its personnel in its procedures.  The Plan attempts to address a shut-down of the corporate offices, due to any number of threats, and a plan for continuing the business activities of Peach Finance Services during the duration of such threat.

Peach Finance Services’s BCDR Plan covers all critical systems and business functions that are intended to enable continual functioning or restoration of Peach Finance Services operations quickly after an incident.

»Investments:
  • Current process employs a deal-by-deal approval process.
  • Investment opportunities are initially filtered through an established investment strategy and are vetted by Peach Finance Services Investment Committee prior to Partner recommendation.
  • In evaluating an investment opportunity, Peach Finance Services conducts a rigorous underwriting process that assesses property level risks and opportunities as well as broader market conditions and outlook. Further, a thorough due diligence process (financial, physical, environmental, operational, legal) is undertaken and a thorough closing checklist is employed to mitigate risk.
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»Asset Management:
  • Annual property budgets set forth expectations for leasing performance, capital expenditures, revenue and operating expenses to establish a baseline against which decisions are measured.
  • Any leasing, capital or other expenses being contemplated that are outside of budget and permitted variances are systematically flagged and go through an established work flow process for approval, modification or rejection.
  • Peach Finance Services has detailed Policies and Procedures for each property that outline all the relevant property level decision points and associated approval thresholds that range from property manager on up to CFO and CEO of Peach Finance Services. An internal audit of selected procedures is conducted annually to ensure compliance.
»Investments:
  • Current process employs a deal-by-deal approval process.
  • Investment opportunities are initially filtered through an established investment strategy and are vetted by Peach Finance Services Investment Committee prior to Partner recommendation.
  • In evaluating an investment opportunity, Peach Finance Services conducts a rigorous underwriting process that assesses property level risks and opportunities as well as broader market conditions and outlook. Further, a thorough due diligence process (financial, physical, environmental, operational, legal) is undertaken and a thorough closing checklist is employed to mitigate risk.
  •  
»Asset Management:
  • Annual property budgets set forth expectations for leasing performance, capital expenditures, revenue and operating expenses to establish a baseline against which decisions are measured.
  • Any leasing, capital or other expenses being contemplated that are outside of budget and permitted variances are systematically flagged and go through an established work flow process for approval, modification or rejection.
  • Peach Finance Services has detailed Policies and Procedures for each property that outline all the relevant property level decision points and associated approval thresholds that range from property manager on up to CFO and CEO of Peach Finance Services. An internal audit of selected procedures is conducted annually to ensure compliance.
»REIT Compliance:
  • Quarterly Asset and Draft Income / Distribution Testing
  • Annual Income and Distribution Testing
  • Semiannual Property Manager Questionnaires
  • Quarterly attestation from either external REIT consultants and/or third party accounting firms
  • Internal review and signoff by Senior VP/Controller
  • REIT checklists completed quarterly
»Legal Compliance:
  • Peach Finance Services partners with best in class transactional counsel with respect to portfolio-level transactions, such as the acquisition, disposition and financing of assets, and the drafting and negotiation of joint venture agreements. 
  • Peach Finance Services oversees highly reputable local counsel with respect to property-related matters, such as the drafting and negotiation of leases, construction contracts and service agreements, the handling of litigation matters, and compliance with loan agreements, asset management agreements and joint venture agreements.
»Policies and Procedures:
  • Peach Finance Services’s Policies and Procedure manual covers a broad range of tasks and functions, including: leasing, credit and contracting, capital, accounting/GAAP, Investor Major Decisions.
  • Compliance monitoring of these policies and procedures is internally conducted by our Sr. Director of Reporting. On a periodic basis, a selection of transactions are tested to ensure the appropriate approval protocols were followed.
  • Peach Finance Services’s financial statements are audited by external auditors, which includes a testament of the firm’s internal controls.
  • Our platform partner conducts an intensive, on-site audit of Peach Finance Services’s internal controls and compliance, results of which have been very favourable without any material deficiencies.