Real Estate Manager

RICHARD ENG

**** **** ****, **********, ** *****, 626-***-****, e-mail:

****@************.***

> A highly successful real estate executive with experience in asset

management, acquisitions and development.

> Closed over $1.3 billion in transactions in both market rate and

affordable housing in brokerage and syndications.

> Served as a project engineer and construction manager to over $450

million in construction projects which includes institutional and

public works rehabilitation and renovations to new construction of

subways and light rail transit.

> Managed assets to create value-added opportunities and provide

stabilized operations through long term goals.

> Licensed California Real Estate Salesperson and Certified Microsoft

Excel Specialist

EDUCATION:

University of Southern California, Los Angeles, CA

MBA with an emphasis in Finance, Marshall School of Business

1996

MRED with an emphasis in Finance, Lusk School of Development

1996

BS in Industrial and Systems Engineering, Viterbi School of Engineering

1990

PROFESSIONAL EXPERIENCE:

Independent Consultant, San Gabriel Valley, CA 2009-Current

Consultant - Retail Development Construction Completion and Operations

Start-Up.

Provides consulting and construction close-out services to real estate

developers attempting to complete their projects and assist in lease-up

transition for new construction.

. Providing asset management services to a 25,000 square foot existing

retail center undergoing extensive renovations and re-tenanting.

Negotiated with vendors in over $1 million in renovations and

upgrades.

. Working with third party management company and leasing agents to

stabilize operations and monitor accountability.

. Acting as project manager for the construction completion and leasing

start-up of a 50,000 square feet new retail center that was 12 months

behind schedule. After joining the project, we were able to complete

the center within seven months and kept within the revised budget.

. Consulting services include acting as property ownership's point of

contact for tenants and construction companies, negotiating first

hand with the representatives of the city to obtain certificate of

completion and asset management.

Interstate Equities Corporation (IEC), North Hollywood, CA 2005-2009

Senior Director of Acquisitions and Dispositions and Asset Management

Divisions

IEC is a real estate syndication firm which invests both institutional

and private equity in the multi-family asset class.

. Managed the acquisitions and asset management divisions using deal-

identification, underwriting and negotiating skills. Closed over

$350 million in acquisition and disposition transactions from 2005

through 2009. Product line includes multifamily and mixed-use

properties with sizes ranging from 20 to 250 units.

. Oversaw 1200 unit portfolio of value-added assets which were being

rehabilitated, leasing up, or improving management. Included hiring

and/or replacing on-site management teams and staff.

. Managed Financial Associates/Analysts in assisting with asset

pricing, due diligence and quarterly reports including periodic

market comparisons and sales analyses and market trends.

. Blended internal rate of return on assets disposed during my tenure

achieved more than 24%.

. Used strong analytical, due diligence and research skills to evaluate

potential investments. Operations stabilized within 18 month time

frame in all cases and all properties continue to perform in unstable

market.

. Managed quarterly and annual portfolio reports for institutional

investors to efficiently manage all assets and address and poorly

performing entities. Included review leases, contracts and

negotiating with third party fee managers.

. Created the fee management division of IEC Property Services with a

target market of Southern California.

Steadfast Companies, Newport Beach, CA 2003 - 2004

Senior Manager of Acquisitions

Steadfast Companies invested in multi-family assets with both market

rate and Section 42 tax credit affordable housing.

. Responsible for sourcing direct on- and off-market acquisition

opportunities utilizing current and expanding network of brokers,

joint venture partners and other owners and investment firms.

. Analyzed and underwrote affordable and market rate multifamily real

estate acquisition targets and formulated ownership and capital

structure. Closed approximately $300 million in

acquisition/rehabilitation and new construction transactions primarily

in the California, Arizona and Texas markets.

. Blended internal rate of return on market rate assets disposed during

my tenure achieved more than 16%.

. Performed due diligence and underwriting of properties in compliance

with lender's criteria and Tax Credit limits. All requirements for

the allocation committee application were met within four months of

initial bid.

. Provided management oversight of asset management division to track

schedule and costs of rehabilitation plan.

Spectrum Consulting, Irvine, CA 2000 - 2002

Senior Case Manager

Spectrum Consulting was a preservation wealth management company

targeting individuals of high net worth.

. Performed valuation and transfer of real estate assets to trusts.

Approximate appraised value of real estate ranged from $500,000 to

$400 million. Asset classes included both residential and commercial

real estate.

. Provided broker's opinion of value for tax accounting purposes to

assist in the dissolution of general and limited liability real estate

partnerships.

. Implemented all due diligence of real estate transfer and set escrow

instructions for inter-family and cross-entity transfers according to

the preservation strategy utilized.

. Managed approximately 30 cases for high net worth individuals with

trusts as well as transfer agreements.

Edison Capital, Irvine, CA 1998 - 2000

Senior Investment Analyst

Edison Capital was a Section 42 tax credit investor that both utilized

the benefits of real estate tax credits for the parent company, Edison

International, and sold them to third party investors.

. Closed approximately 40 equity investment transactions totaling $600

million for projects throughout the country with a high concentration

in the Western United States.

. Blended internal rate of return on assets disposed achieved more than

11% before taxes on an income basis.

. Successfully created the company's upper tier evaluation model for tax

credit syndication disposition packages.

. Presented findings to the investment committee and demonstrated

validity of revised proforma figures. Also prepared complete

investment offerings to the executive committee for final approval of

sales.

. Performed due diligence processes including review of guarantor's

background and financial capacity, appraisal review of market

conditions, and any adjusters for rate of return and net present value

requirements.

Marcus and Millichap, Long Beach, CA 1996 - 1998

Investment Real Estate Broker

Marcus and Millichap is an investment real estate brokerage firm

specializing in multi-family among other products.

. Brokered the sales of multi-family and commercial real estate fot both

private and institutional clients. Closed over $80 million in

transactions representing both buyer and sellers. Included both REO

and market rate stabilized assets.

. Consistently achieved sales prices in excess of 96% of list price.

. Generated financial models for analysis of property performance with

respect to return analysis, internal rate of returns, and principal

term analysis.

. Generated opinion of market value packages for lenders of REO property

to show probable market value of investment real estate property.

Approximately 120 pricing opinions were generated over about 24

months.

Jacobs Engineering Group, Pasadena, CA 1990 - 1996

Project and Construction Oversight Manager

Jacobs Engineering provided heavy construction design and project

management services in addition to general contracting services for

industrial and heavy projects.

. Managed construction and development of approximately $450 million in

heavy, institutional and large-scale construction projects. Total

value of these construction projects was approximately $5 billion.

Projects included the Los Angeles Public Library rehabilitation, Metro

Red and Green Lines, and County Water Treatment Facilities.

. Prepared monthly financial models and reporting packages that analyzed

principal's investment performance according to the construction

schedule, primary costs and contingency draw downs.

. Negotiated cost of change orders and construction modifications with

values from $10,000 to $100,000.

. Proposed alternative strategies to mitigate schedule delays and cost

overruns to client. Cost overruns never exceeded 4% of the original

cost estimate and completion of projects was never more than 10 days

over approved adjusted completion date.

AFFILIATIONS:

Member, Commerce Associates Member, Urban Land

Institute

Member, USC Real Estate Association Member, Apartment Owners

Association of So. Cal.

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