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RssDynamic Financial Executive

Executive-Level Financial Manager with 20+ years of experience managing accounting and finance for corporations and partnerships. Identifies internal inefficiencies and implements controls that increase productivity and profitability. Communicates effectively and carries negotiations with bankers, and financers; strengthens financial relations with granters and investors; and develops relationships with directors, managers, customers, auditors, and accountants. Manages and motivates employees to boost competency, confidence, and productivity. Oversees cash management with budget variance to improve targeted cash flow and guides in preparation of detailed operating and capital budget with cash flow analysis with derived assumption of funding the special projects. Prepares detailed five year business plan and backs it up with detailed financial models to help raise additional funds. Implements timely investment strategies to increase cash returns and IRRs. Delivers all projects on or ahead of schedule; takes over urgent projects with little lead time to reach all goals. Computerizes financial statements to provide greater detail and accuracy along with lower accounting costs.

Accountant

Hightstown, NJ

About Me

Industry:

 Accounting & Finance

Occupation:

 Accountant

Highlights:

 RECENT ACCOMPLISHMENTS IN COMMERCIAL REAL ESTATE MANAGEMENT • Increased annual net profitability by $50 Million from a mere $10 Million to a whopping $ 60 Million! • Increased Base Rent and Escalations by $ 67 Million over a three year period by boosting occupancy to 98% from a mere 40% in 2003. This was achieved by a focused effort in implementing capital improvements funded exclusively by efficient usage of various escrows held by mortgage bank, thus leaving intact, the operating cash-flow. • Improved market value of the property by $325M due to the above accomplishments. • Increased lease escalation revenues by $2.5 Million annually and the charge backs of prior years collected additional $ 10 Million. • Created $15 Million in value by revamping lease escalation policies. • Attracted occupancy by tenants like Tommy Hilfiger, Johnson and Johnson, Starwood Resorts, Mc Cali Corp. etc by modernizing and face-lifting the main lobby, beefing up security by modern equipment and trained personnel, coupled with a modern cafeteria and a restaurant on the premises.

Ideal Companies:

 Real Estate - Commercial, Retail, Residential - Owner, Manager 7 Developer
 

Education level:

 Master

Will Relocate:

 Yes

Location:

 Hightstown, NJ

Work Experiences

5/2008 - Present

(private)

Executive

  • • Strategic planning and acquisitions of land and development of new sites and revitalization of old communities with new and modern amenities with the help of private investments thru tax credit incentives. Arrange financing of various deals and negotiations with investors and lending institutions for timely and economical funding of various projects. Oversee, and analyze all processes and due diligence from LOI to closing in acquiring properties. • Prepare capital and operating budget to strengthen liquidity and increase profitability. Enhance the relationships with investors and lenders by ensuring that debt service coverage ratio is well maintained, and necessary precautions are undertaken to maintain the same in upcoming fiscal year. Develop financial models to increase the vote of confidence of investors and lenders in new deals and projects. • Prepare timely waterfall based on complex partnership agreements. • Prepared detailed equity and distribution statements including allocations of profit. Analyzed current IRRs with comparison to agreed financial model. Liaised with investors, their fund administrators and tax accountants to evaluate the fund growth and attract them to invest further with confidence. • Monitor timely payments of real estate taxes. Ensure adequate property coverage and procure the most competitive comprehensive coverage. • Prepare and monitor monthly, quarterly and annual financial reports with budget variance analysis and notes to financials for partners, investors and lenders.

1/2007 - 4/2008

American Realty Capital, LLC

Executive

  • • Oversaw, and analyzed all processes and due diligence from LOI to closing in acquiring triple and double net properties. • Raised capital calls for acquiring new partnerships. • Set new accounts and ensured smooth transition by setting up information quickly and accurately. • Advised board members of various properties on their current financials, budgets and cash flows as well as on various options of financing major capital improvements. • Prepared detailed equity and distribution statements including allocations of profit. Analyzed current IRRs with comparison to agreed financial model. Liaised with investors, their fund administrators and tax accountants to evaluate the fund growth and attract them to invest further with confidence. • Monitored timely payments of real estate taxes and maintained control with proof of payments and copies of bills. Protested increase in taxes with help of tax certiorari. • Implemented control on proper insurance coverage as required by leases and ensured timely payments by tenants. • Supervised month-end closing for multiple companies and management of company operations. • Reviewed fixed assets schedules and prepared depreciations on tax and GAAP basis. • Prepared monthly financial reports on GAAP basis and quarterly and annual reports on GAAP, tax and fair market value basis. • Implemented new accounting software, IBS, and produced automated financial reports.

1/2002 - 12/2006

601 WEST ASSOCIATES LLC

Executive

  • • Acquired several properties, formed new partnerships and refinanced. Evaluated the potential acquisition of commercial properties. Calculated IRR, liquidity, debt-equity, ROI, and current revenue-expense ratios. • Processed and supervised dissolving of the partnerships and selling of the properties and accurate disbursements of funds. Established and accounted for escrow accounts for closing expenses and promptly disbursed the balance. • Coordinated, compiled, and reviewed partnership financial reports in accordance with GAAP and FASB requirements. Prepared detailed capital statements, GP allocations, and distributions for each partner • Created and maintained excellent working relationships with various investors, and their fund administrators and accountants by providing timely information on fund growth and tax implications. • Calculated monthly waterfall for preferred returns, return of preferred equities, and common returns. Prioritized timely funding of distributions to various partners and investors as per the agreements. • Prepared and monitored operating and capital budgets, and business projections to increase liquidity and net earnings. • Supervised the timely preparation of monthly billings, various escalations, charge backs, and cash management reports. • Reviewed straight line rent calculations. Computerized fixed assets and depreciations of various assets using FAS on tax and book basis. Prepared various amortization schedules for proper recording. • Worked closely with other departments to share common information and implement proper flow of work papers to increase efficiency and strengthening team work. • Trained staff in their related areas of work to boost their confidence. Key tenants were: Tommy Hilfiger, Johnson & Johnson, Martha Stewart, Omni media, Gartner Group, US Customs, and FBI.

7/1993 - 12/2001

PHIPPS HOUSES

Manager

  • • Maintained a $15M+ investment portfolio; recorded premiums, discounts, and interest earned and accrued. • Prepared and supervised internal and external monthly, quarterly, and annual financial reports. • Forecasted budgets and cash flow for capital projects, operating income and costs, and distributions. • Generated statutory reports for low-income housing to DHCR and HUD; worked with property managers to fulfill obligations. • Monitored and prepared updates for state and federal government entities detailing subsidies and grants. • Computerized lease extractions for CAM charges, CPI increase, and tax escalations to optimize profitability.

8/1985 - 7/1993

SUNRISE MALL ASSOCIATES

Manager

  • • Prepared business plans for major renovations and upgrades of mall facilities to maintain high-profile customers. • Encouraged tenants to pay rent by the tenth of each month; reduced late mortgage payments and related fees. • Improved investor relations by timely distributions of preferred returns. • Prepared monthly, quarterly, and annual financial reports with budget variance analysis. • Prepared monthly waterfall for limited and general partners. • Prepared detailed schedules of distributions and allocations to partners with K1s. • Managed funds of investors and fund accounting processes.

Education

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