Real Estate Private Equity

Michael J. Hughes, CPA

* **** ******* ******, *********, NY 11740

516-***-**** ************@*****.***

CONSULTING Jan. 2024 – Present

Assisted with the launch, fundraising and financial statement preparation of Eagle Alpha Investments LP (hedge fund).

Assisted clients in the financial services industry undergoing a first-time audit with an understanding of the audit process, how to properly respond to auditor requests, assisted in the preparation of significant account balance schedules and related memos on accounting policy.

Preparation of individual federal and state income tax returns. BDO USA, P.C., New York, New York Sept. 2022 – Jan. 2024 Audit Director

Lead and managed a team of 50+ professionals for multiple US GAAP, income tax basis audit and review engagements for clients in the real estate, private equity and asset management industry. (Sub sectors: residential, commercial and retail real estate; real estate, credit, private equity and fund of funds, public and private REITS, data centers and hospitality industries).

Principal clients include:

- Acadia Realty Trust - GTJ REIT, Inc.

Advised clients on technical accounting and financial reporting matters related to:

- ASC 326 - Financial Instruments—Credit Losses - ASC 360 - Property plant and equipment

- ASC 805 - Business Combinations - ASC 820 - Fair Value Measurement

- ASC 842 - Leases - ASC 946 - Investment Companies

Advised clients on significant accounting matters (i.e. ASC 842 implementation, impairment, carried interest) and the design and implementation of internal control policies.

Business development - actively participated in RFP’s (Request for Proposal), prepared presentations and attended orals for prospective clients.

Served as the real estate practice chief of staff with a focus on revenue recognition, client billings/receivables, staff assignments and utilization. Deloitte & Touche, LLP, New York, New York Sept. 2002 – Sept. 2022 Audit Senior Manager (August 2013 -September 2022); Audit Manager (October 2010 - August 2013); Audit Senior and Audit Staff (September 2002 - October 2008)

Lead the day-to-day audit and review engagements for multiple clients in the private equity, infrastructure, REIT, and credit and real estate fund industries.

Ensured workpapers were prepared and reviewed timely and that the financial statements and related footnotes were in accordance with US GAAP, income tax basis of accounting, and investment company accounting (i.e. fair value), as applicable.

Analyzed LPA’s, subscription agreements, side letters and fund structure to ensure proper accounting and advised clients on purchase price allocation, valuations, carried interest, financial highlights and IRR.

Initial Public Offering experience with PCAOB auditing standards and SEC Financial Reporting Manual.

Served as Engagement Quality Control Reviewer for multiple engagements.

Principal clients include:

- MetLife Investment Management - Blackstone Real Estate

- Starwood Capital Group - Colbeck Capital Management

Provide direct supervision, mentor, and review workpapers of a team of 25+ professionals throughout multiple countries and coordinate with internal fair value and tax specialists as appropriate.

Responsible for engagement economics and staffing for multiple clients with a focus on achieving key performance indicators and identifying areas for improvement. EDUCATION:

Hofstra University; Hempstead, New York Sept. 1998 – May 2002 Bachelor of Business Administration in Accounting, Minor in Information Systems

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