VP FINANCE / CFO / REAL ESTATE EXECUTIVE
Residential and Commercial Development
Entrepreneurial leader with 18+ years of CFO, commercial banking, and real estate development experience. Proven ability to raise debt and equity capital, manage banking and investor relationships, analyze and improve key profit drivers, and create a results-oriented culture. Diverse background includes two Silicon Valley start-ups, as owner of a technology company and CFO of a residential homebuilder. Strong analytical skills and credentials include: M.B.A., C.P.A. and C.M.A. (in process).
PROFESSIONAL EXPERIENCE
REAL ESTATE DEVELOPER, Houston, TX, 2012 to Present
Chief Financial Officer
Recruited to this master developer to raise capital for its large-scale public-private-partnerships (P3 developments), manage and liquidate the company's existing $75 million real estate portfolio, and take the company public. Wallace Bajjali controls $2 billion in P3 development contracts through the cities of Joplin MO and Amarillo TX.
Responsibilities include: strategic planning, raising debt and equity capital, communicating regularly with the company's 150+ investors, creating comprehensive financial projections, leading presentations with prospective investors, managing the legacy real estate portfolio of income producing properties and land, coordinating pre-IPO readiness activities, and managing a controller and two support staff accountants.
* Sourced and engaged a new a new investment banking team to assist in IPO readiness.
* Successfully re-financed three projects valued at $18 million to lower interest rates and lock-in favorable economics.
* Created a comprehensive financial model in Excel that is the basis for the company's internal cash flow modeling and external investor discussions.
* Performed detailed project valuation analyses and created an asset "roll-up" model for the company's legacy portfolio that is an integral part of the IPO strategy.
* Repositioned and rescued a 93,000 square foot retail/office project that was under pressure from an aggressive lender by filing Chapter 11 bankruptcy for the single-purpose-entity. The Plan or Reorganization has been filed and a favorable outcome is anticipated.
SUPER REGIONAL BANK, San Francisco, CA, 2003 to 2008
Vice President & Senior Relationship Manager
Recruited to SUPER REGIONAL BANK in the wake of the real estate down-turn to help establish a new "work-out" group known as REMAD (Real Estate Managed Assets Division).
* Consistently "exceeded expectations" and ranked highest in performance in the REMAD group.
* High point accomplishments: A major restructure of two residential developers (100% recovery of over $70 million) and a $13 million cash recovery from a borrower who initially offered only two million.
PACIFIC MOUNTAIN PARTNERS, LLC, San Ramon, CA, 2003 to 2008
Chief Financial Officer
Recruited to this $127 million regional home builder by the owner (Stephen Stapley) based on our prior relationship when he was CFO at another homebuilder and I was a lender at Wells Fargo Bank. Prior to joining PMp, I assisted the company's start-up by contributing to the business plan, discussing strategies for the acquisition of Gentium Homes (the buy-out target), arranging financing through a local bank, and accepting a position on the board.
The company faced four key challenges - insufficient land inventory to support sales, under-developed banking relationships, inadequate budget and forecasting tools to manage growth, and an out-dated IT infrastructure.
* Raised over $100 million in new land acquisition, interim construction and mezzanine debt financing to expand the company's land inventory from 119 to 850 lots.
* Assisted PMp in doubling revenues from $56 million in 2003 to $127 million in 2005 and increasing net profit from $7 million to $19 million.
* Heavily involved in strategic planning, forecasting, budgeting, and process improvement. Decreased the time necessary to build a house by 60 days after discussing road blocks with field superintendents, reducing certain buyer options, and implementing a new sub-contractor scheduling system.
* Closely managed PMp's six banking relationships, three bonding companies and two insurance carriers. Responsible for negotiating loan pricing and covenant conditions, creating loan request packages, loan budgets, cash flow projections, monthly loan draws, and responding to financial inquiries.
* Primary liaison with legal counsel for all contract and/or litigation matters. Often involved in contract negotiations with sub contractors, city officials and land sellers.
* Managed all accounting and finance related activities including supervision of a controller and four staff accountants.
* Generated quarterly and annual consolidated financial statements in Excel for PMp's 13 entities including intercompany eliminations.
* Responsible for all IT functions including a network of 50 computers in seven locations. Completely overhauled the company's IT infrastructure.
* Worked cooperatively with lenders to re-negotiate and restructure loans when the market declined sharply in early 2007. The job opportunity at Bank of the West arose directly from the straight-forward and cordial relationship I maintained with the company's lenders.
NEW HORIZONS COMPUTER LEARNING CENTERS, Santa Cruz/ Monterey, CA
1999 to 2003
Owner / Chief Executive Officer
Became a franchise affiliate of New Horizons Computer Learning Centers, the world's largest independent computer training company at the time with 270 locations in 48 countries. At its height, the company operated in three locations with 55 employees and annual gross revenues of $3.5 million.
* Notable accomplishments: Won the "North American Rookie of the Year" award in 1999; was elected to the Franchise Advisory Council in 2000; and trained more IT students than nearby Heald College in 2001 and 2002 with a fraction of the advertising budget.
WELLS FARGO BANK, N.A., San Francisco, CA
1988 to 1998
Vice President and Loan Team Leader
Joined Wells Fargo Bank's Credit Management Training Program (CMTP) in 1988. Graduated first in a class of 25 CMTP candidates and accepted a position in the bank's Real Estate Industries Group (REIG) in San Francisco.
* As Relationship Manager, lent over $650 million on new commercial and residential projects throughout the Bay Area including Netscape's campus in Mountain View (seven buildings, 450,000 sq.ft.), two office buildings in the Bishop Ranch Business Park (400,000 sq.ft.), and the "Ruby Hill" residential community in Pleasanton - a gated community of 850 luxury homes around an 18-hole Jack Nicklaus golf course.
Prior experience includes Associate Credit Officer, First National Bank, N.A., Lubbock, TX (1984 to 1987), and Staff Auditor, Arthur Young & Company, Fort Worth, TX (1982 to 1983)
EDUCATION
M.B.A. - Texas Tech University, Lubbock, TX, 1987
B.B.A. - Accounting, Abilene Christian University, Abilene, TX, 1982
C.P.A. - Texas State Board of Public Accountancy, Austin, TX, 1985
C.M.A. - (3 of 4 parts completed), Institute of Management Accountants, Montvale, NJ (in process) |
