Richard P. Lipsky CPA

**** ******* **. **** ***

Baltimore, MD 21230

240-***-****

adgrz6@r.postjobfree.com

Professional Experience:

Chief Financial Officer 1/2014-Current

David S. Brown Enterprises, LTD

Owings Mills, MD

In October 2014 promoted to Chief Financial Officer

Report directly to the President of the Company

Member of the Executive Management team to manage approx. 2,000 apartment units and 4M square feet of commercial property

Manage more than $500M of debt on the various projects

Prepare Proformas and financing packages for new projects to evaluate the deal and to send to construction lenders.

Negotiate terms with construction lenders and work with lawyers to close loans in a timely manner.

Prepare financing packages for stabilized projects to send to permanent lenders.

Negotiate terms with permanent lenders and work with lawyers to close loans in a timely manner.

Oversee an accounting staff of 15 to perform daily; monthly and annual accounting function for Management Company as well as all the project entities.

Coordinate year-end packages for completion of tax compliance reports (Federal and State Income tax returns and Personal Property Returns).

Evaluate each project to obtain maximum tax savings for partners in each project.

Review internally prepared financial statements and prepare management analysis memo to distribute to partners.

Work closely with Residential Management Team to determine rental rates for multi-family projects.

Review and approve financial statement of potential commercial tenants to ensure that tenant and guarantor are financially capable of paying rent.

Communicate with outside partners regarding their investments and tax fillings (forms K-1)

Work closely with construction team to prepare cost budgets and actual v budget analysis for building and tenant improvement projects.

Vice President of Finance & Operations; Commercial Real Estate 5/1998-9/2013

Carl M. Freeman Companies Rockville, MD

In December 2010 promoted to Vice President of the Company overseeing the Commercial Real Estate Division, reporting directly to the President.

Member of the Executive Team to determine the direction of the Company including operations in the Commercial Real Estate; Community Development and Sports & Hospitality segments of the Organization.

Present results and obtain approvals for budgets and various projects of the Division at the quarterly Board of Director meetings.

Supervise (directly and indirectly) a 10-member staff along with numerous consultants and attorneys.

Negotiated and closed permanent debt for commercial properties in excess of $200M. Worked with CMBS lenders, life companies and banks on refinances, forward commitments and purchase financings.

Negotiated and closed construction debt in excess of $150M. Worked with major bank, local banks and equity capital lenders for land development, construction and redevelopment projects.

Procured, led due diligence process, negotiated and closed on the acquisition of commercial projects in excess of $100M. Acquisitions included stabilized shopping centers, raw land and shopping centers in need of renovation. Many of these transactions were purchased as apart of a 1031 like kind exchange.

Responsible for marketing, negotiating and closing the strategic sale of stabilized commercial real estate assets in excess of $200M.

Negotiated the operating agreements for joint venture relationships.

Responsible for leasing activity of more than 1,000,000 square feet of retail properties. Shopping center occupancies were maintained at 98.5% or greater. Negotiated detail lease terms with large anchor, national and local tenants.

Responsible for the property management function of more than 1,750,000 square feet of retail properties including oversight of all 3rd party management client accounts ensuring excellent customer service. Ensured that the properties were maintained in a first-class manner and free of liability concerns while maximizing cash flow and value.

Responsible for the reporting function of all assets owned, properties of third-party clients and management company, including the preparation of budgets, variance analysis and reporting of operational issues.

Prepared and maintained proformas for all acquisitions, land development, construction and redevelopment projects.

Planning Committee for 2006 and 2008 ICSC Mid-Atlantic Idea Exchange.

Prepared Case Studies and moderated a concurrent session at the 2006 ICSC Mid Atlantic Idea Exchange entitled “Financing Your Retail Properties – 3 Case Studies from Basic to Complex”.

As Controller, Assisted Corporate CFO as Tax Counsel. Compiled information for tax accountants and review tax compliance reports for over 25 entities annually.

As Controller, Prepared Consolidating Financial Statements, combining the subsidiaries of Retail Real Estate; Residential Real Estate, Residential Development and Home Building.

Senior Manager 8/1988-5/1998

Watkins, Meegan, Drury & Co. Bethesda, MD

Supervisor of audit, review and tax engagements in the industries of Real Estate Development, Home Building, Rental Real Estate, Retail and Wholesale Distribution, Construction, Moving & Storage and Professional Services.

Investigative accounting engagements in the industries of Real Estate Development, Rental Real Estate and Wholesale Distribution. Engagements included general partner fraud, misallocation of distributions, forensic accounting, embezzlement, theft, and calculation and negotiation of case settlements.

Supervised engagements for the Resolution Trust Corporation. Engagements included Asset Valuation and Review for institutions available for sale, Subsidiary Accounting for Institutions in receivership, closing of failed Institutions; Sold Loan Reconciliation packages and Tax Return Litigation.

Prepared and Reviewed Business Valuations in the industries of Rental Real Estate and Broadcasting.

Assisted, prepared and reviewed operating budgets and projections for the Wholesale Food Distributor, Race Track and Real Estate Development industries.

Professional Affiliations:

International Council of Shopping Centers

American Institute of Certified Public Accountants.

Board/Committee Appointments:

Jewish Community Center of Greater Baltimore; Board of Directors – 6/16 to present; Treasurer and Chair of Budget & Finance Committee – 6/18 to present; Executive Committee Member – 6/17 to present.

Junior Achievement of Greater Washington – Montgomery County Advisory Council & classroom instructor 9/11 to 10/13

Town of Nags Head Citizens Advisory Committee – 9/11 to 12/12

Education:

B.B.A., Accounting

College of William and Mary

Williamsburg, VA

Accreditation:

Certified Public Accountant, State of Maryland, cert #17293, February 1991

Contact this candidate