2017-02-01T09:49:48-06:00 2016-06-30 KPMG LLP 3001 Summer Street Stamford CT 06905 990 2015-07-01 205665194 Flying Cloud Office Inc C/O BARINGS REAL ESTATE ADVISERS LLC % BARINGS RE ADVISERS LLC FLYI 8605092200 ONE FINANCIAL PLAZA SUITE 1700 HARTFORD CT 06103 RYAN CROSSLEY Director 2017-01-25 true Lawrence A Ciccarelli III P00851332 2033569800 2017-01-24 2015 2021-01-29 14:40:06Z CJ Karbowicz ONE FINANCIAL PLAZA SUITE 1700 HARTFORD CT 06103 28689500 false X N/A X 2004 DE TO ACQUIRE AND HOLD TITLE TO REAL PROPERTY, COLLECT THE INCOME THEREFROM AND REMIT THE ENTIRE AMOUNT, LESS EXPENSES, FOR THE BENEFIT OF ITS PARENT ORGANIZATION, SCERS. X 1 0 0 0 0 0 4054853 3272649 2182 -16125346 0 0 4057035 -12852697 0 0 0 0 0 0 0 0 0 2467710 2012662 2467710 2012662 1589325 -14865359 30072273 185551 437631 101615 29634642 83936 THE ORGANIZATION'S MISSION IS TO ACQUIRE AND HOLD TITLE TO REAL PROPERTY, COLLECT THE INCOME THEREFROM AND REMIT THE ENTIRE AMOUNT, LESS EXPENSES, FOR THE BENEFIT OF ITS PARENT ORGANIZATION, SACRAMENTO COUNTY EMPLOYEES RETIREMENT SYSTEM. false false THE ORGANIZATION ACQUIRED AND HELD TITLE TO REAL PROPERTY, COLLECTED INCOME THEREFROM AND REMITTED THE ENTIRE AMOUNT, LESS EXPENSES, TO ITS OWNER- SACRAMENTO COUNTY EMPLOYEES' RETIREMENT SYSTEM. false false false false false false false false false false false false false true true false true false false false false false false false false false false false false false false false false false false false false false true false true false false true 17 0 true 0 false false false false false false X 1 0 true true false false true false true true true false false true false false false false false false X BARINGS RE ADVISERS LLC 8605092200 ONE FINANCIAL PLAZA HARTFORD CT 06103 BARINGS REAL ESTATE ADVISERS, LLC X 147543 584893 0 147543 584893 0 1 false false false GREINER CONSTRUCTION INC 625 MARQUETTE AVE S STE 840 MINNEAPOLIS MN 55402 TI 495694 HENNEPIN COUNTY TREASURER A600 GOVERNMENT CENTER MINNEAPOLIS MN 55437 TAXES 433717 RYAN COMPANIES US INC 50 S 10TH STREET MINNEAPOLIS MN 55403 FEES 305582 XCEL ENERGY PO BOX 9477 MINNEAPOLIS MN 55484 ENERGY FEES 295160 HARVARD MAINTENANCE INC 59 MAIDEN LANE NEW YORK NY 10038 MAINTENANCE FEES 171857 5 0 GROSS RENTAL REVENUE 531120 3272649 3272649 3272649 1389 1389 0 0 0 0 0 25415462 41542197 -16126735 -16126735 -16126735 0 0 0 0 -12852697 3272649 -16125346 0 0 0 0 0 0 0 0 0 0 119223 31485 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 21410 TAXES 694672 CLEANING, MAINTENANCE & REPAIR 548827 UTILITIES 290157 ADVISORY FEE 147543 159345 2012662 1025048 171632 0 0 0 0 44137 13919 0 0 0 0 0 0 0 0 3088 0 0 28950392 0 0 0 0 0 0 0 0 0 0 0 30072273 185551 71878 53979 0 0 36948 0 0 0 0 0 0 0 0 0 0 0 328805 47636 437631 101615 X 0 0 32421157 32561503 -2786515 -32477567 29634642 83936 30072273 185551 X -14865359 11999307 -26684654 X X false true X true false 0 OTHER LIABILITIES 47482 TAXES PAYABLE 154 47636 PART X Accounting Standards Codification ("ASC") 740, Income Taxes, provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. ASC 740 requires the evaluation of tax positions taken in the course of preparing the Portfolio's tax returns to determine whether tax positions are "more-likely-than-not" of being sustained by the applicable tax authority. Tax benefits of positions not deemed to meet the more-likely-than-not threshold would be recorded as tax expense in the current year. The Portfolio adopted ASC 740 and applies it to all open tax years as of the effective date. Open tax years consist of 2012 forward as the statutes generally provide for three open years from the return due date. Cash Distribution 2016-04-15 25415462 Proceeds from Bld Sale 946000529 SACREMENTO COUNTY EMPLOYEE'S RET SY ONE FINANCIAL PLAZA SUITE 1700 HARTFORD CT 06103 Government false false false false PART VI, SECTION A, QUESTION 2 BARINGS REAL ESTATE ADVISERS LLC ("BARINGS") MANAGES FLYING CLOUD OFFICE, INC. ON BEHALF OF THE SACRAMENTO COUNTY EMPLOYEES' RETIREMENT SYSTEM ("SCERS"). BARINGS PROVIDES INVESTMENT ADVISORY SERVICES TO SCERS IN CONNECTION WITH THE PORTFOLIO. PART VI, SECTION A, QUESTION 3 SACRAMENTO COUNTY EMPLOYEES' RETIREMENT BOARD HAS HIRED BARINGS REAL ESTATE ADVISERS LLC AS INVESTMENT ADVISOR TO MANAGE THE ENTITY, WHICH INCLUDES THE AUTHORITY TO INVEST THE ASSETS OF THE ENTITY IN REAL PROPERTY, DISPOSE OF PROPERTIES, AND MANAGE THE DAY TO DAY OPERATIONS OF THE ENTITY. PART VI, SECTION A, QUESTION 6 THE SOLE SHAREHOLDER OF FLYING CLOUD OFFICE, INC. IS THE SACRAMENTO COUNTY EMPLOYEES' RETIREMENT SYSTEM ("SCERS"). THE SHAREHOLDERS OF SCERS ARE PENSION TRUSTS DESCRIBED IN, AND EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 401 AND 501 OF THE INTERNAL REVENUE CODE. PART VI, SECTION A, QUESTION 7B THE BUSINESS OF THE CORPORATION SHALL BE MANAGED BY ITS INVESTMENT ADVISOR. ALL DECISIONS MADE BY THE INVESTMENT ADVISOR ARE AUTHORIZED BY THE STOCKHOLDERS. SCHEDULE VI, SECTION B, QUESTION 11 THE TAX RETURN IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND PROVIDED TO THE ASSISTANT TREASURER FOR REVIEW. A COMPLETE COPY OF THE FORM 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS BEFORE FILING. PART VI, SECTION B, QUESTIONS 12, 13 & 14 THERE ARE NO SEPARATE WRITTEN POLICIES FOR FLYING CLOUD OFFICE, INC. HOWEVER, THE MEMBERS OF THE GOVERNING BODY ARE EMPLOYEES OF THE MANAGEMENT COMPANY, BARINGS REAL ESTATE ADVISERS LLC, AND ARE SUBJECT TO THE CONFLICT OF INTEREST AND OTHER POLICIES OF THE MANAGEMENT COMPANY. ANNUALLY, THE BARINGS COMPLIANCE OFFICER CONFIRMS OFFICER COMPLIANCE WITH THESE POLICIES. PART VI, SECTION C, QUESTION 19 INFORMATION ABOUT THE ORGANIZATION'S INVESTMENT PROGRAMS, GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE NOT AVAILABLE TO THE GENERAL PUBLIC. PART X, LINE 10B AND SCH D, PART VI THE INVESTMENTS IN LAND AND BUILDING ARE RECORDED AT FAIR VALUE ON THE TRIAL BALANCE. THE BALANCE SHEET IS NOT ADJUSTED TO REFLECT HISTORICAL COST LESS ACCUMULATED DEPRECIATION. THE AMOUNT OF ANY CURRENT CHANGE IN UNREALIZED APPRECIATION/DEPRECIATION IS NOT INCLUDED FOR TAX PURPOSES IN THE STATEMENT OF REVENUE AND EXPENSES. FORM 990, PART XI - RECONCILIATION OF NET ASSETS CONTRIBUTIONS FROM SCERS 140,346 DISTRIBUTION FROM SCERS (26,825,000) _____________ OTHER CHANGE IN NET ASSETS (26,684,654) PART XI, QUESTION 2B THERE ARE NO SEPARATE AUDITED FINANCIAL STATEMENTS FOR FLYING CLOUD OFFICE, INC. HOWEVER, THE INVESTMENT IN FLYING CLOUD OFFICE, INC. IS AUDITED AS PART OF THE COMBINED FINANCIAL STATEMENTS FOR THE SACRAMENTO COUNTY EMPLOYEES' RETIREMENT SYSTEM. PART XII, QUESTION 2C BARINGS REAL ESTATE ADVISERS, LLC AS ADVISOR FOR SCERS IS RESPONSIBLE FOR THE OVERSIGHT AND REVIEW OF ITS CONSOLIDATED AUDITED FINANCIAL STATEMENTS WHICH INCLUDES FLYING CLOUD OFFICE, INC. SCHEDULE R AS THE INSTITUTIONAL TRUSTEE ENGAGED TO MANAGE CERTAIN PROPERTIES OF SCERS, AND RESPONSIBLE FOR THE FILING OF THIS RETURN, WE ARE LISTING THE ENTITIES THAT WE KNOW OF, THAT WE ALSO MANAGE. WE DO NOT HAVE DIRECT KNOWLEDGE OF THE SCERS OTHER INVESTMENT HOLDING ENTITIES THAT MIGHT BE CONSIDERED BROTHER/SISTER ENTITIES TO THIS TAXPAYER, NOR DO WE HAVE ACCESS TO THIS INFORMATION SUFFICIENT TO INCLUDE THEM ON SCHEDULE R. SACRAMENTO COUNTY EMPLOYEES' RET SYSTEM ONE FINANCIAL PLAZA STE 1700 HARTFORD CT 06103 946000529 RETIREMENT CA 401A NA false SALT PONT CORPORATION ONE FINANCIAL PLAZA STE 1700 HARTFORD CT 06103 201284549 TITLE HOLDING DE 501(C)(25) SCERS false CRESCENT PARK CORPORATION ONE FINANCIAL PLAZA STE 1700 HARTFORD CT 06103 203823914 TITLE HOLDING DE 501(C)(25) SCERS false DB GATEWAY CORPORATE INC ONE FINANCIAL PLAZA STE 1700 HARTFORD CT 06103 510660464 TITLE HOLDING DE 501(C)(25) SCERS false false false false false false false false false false false false false false false false false true true SACRAMENTO COUNTY EMPLOYEES' RETIREMENT SYS R 26825000 CASHFLOWS SACRAMENTO COUNTY EMPLOYEES' RETIREMENT SYS S 140346 CASHFLOWS