During my first week on the job, I spent most of my time with the accounting team learning about tenant contracts and the company´s accounts receivable. Most major tenants in Torre Mayor maintain contracts that span 10 years or more and include details regarding net rent-able area and parking space allotment. Additionally, the company not only boasts a very low A/R balance, but they have maintained a stellar 99-100% occupancy rate for the past five consecutive years.
Reichmann International not only developed and constructed Torre Mayor, but they also continue to receive cashflow by collecting rent each month from each of the tenants. Many tenants are Mexican-based companies, but several are familiar in the United States as well, such as Deloitte, McKinsey, Blackrock, AIG, and Marsh.
I have been fortunate enough to explore the city´s surroundings on the weekends. The countryside here is absolutely spectacular. My roommate, Vinny Dambrosio (UC Boulder), and I personally love to hike, and the vast, mountainous terrain will provide a great opportunity — so long as we steer clear of Mexico City´s active volcanos. This past weekend I traveled to a few different places, which exhibit the country´s true beauty. I had the opportunity to explore a pyramid- you can read more about the Aztec pyramids here.
Until Next Time,