The Company
Industry: Commercial Real Estate
Entity Type: Wholly Owned Subsidiary
Operating Region: U.S.
Size: $1B
The PROBLEM
The incumbent Vice President of Investment Management was on an extended leave of absence, so the company needed an interim leader to oversee FP&A, investor reporting, debt financing activities, financial modeling, and special projects. The organization was lining up debt financing, including three real estate loans and the refinancing of nine others. They required an interim leader to drive the process with lenders, lawyers, bankers, and investors. Additionally, the company was in the process of selling three key assets into an open-ended fund and needed an experienced leader to spearhead this initiative.
The Solution
McDermott + Bull Interim Leaders brought in an experienced real estate finance executive with CFA and MBA certifications. This leader had an extensive background across asset financing, FP&A, and team leadership, with expertise in several real estate verticals, including senior living, multi-family, and retail.
The RESULT
The interim leader played a crucial role in the financing of approximately twelve properties while moving forward the finalization of term sheets for three other properties. They also implemented new business intelligence (BI) tools, demonstrating the tools’ capabilities through a proof of concept to the leadership team. Given the success of the engagement, the company hired the interim leader in a permanent capacity, where they continue to focus on enhancing FP&A activities through the use of BI tools.
Closed Financing Deals
Successfully closed a $73M financing deal, with another $41M deal expected to close shortly. Additionally, term sheets were signed for 8 additional loans currently in progress.
Oversight of FP&A Activities
Played a significant role in the year-end processes, managing investor reporting, ensuring timeliness and accuracy, and streamlining internal reporting capabilities to enhance efficiency.
Due Diligence and Loan Management
Conducted due diligence on loans with signed term sheets, improved reporting and analysis for the company’s portfolio, and successfully secured a term sheet for their refinancing deal.
Mark McConnell
Senior Managing Director, McDermott + Bull Interim Leaders
mcconnell@mbexec.com
Mark McConnell serves as a Senior Managing Director at McDermott + Bull Interim Leaders, where he forges relationships with companies addressing transition, change, and transformation. He partners closely with clients who require on-demand consulting resources to bridge leadership gaps and propel their business forward. He has experience working with emerging and enterprise-level companies across numerous industries and has depth in functional areas such as finance, accounting, human resources, and operations.