Commercial Real Estate

Maura O’Shea

********@*****.*** 201-***-**** cell

PROFESSIONAL PROFILE:

▪ Financial Specialist in the commercial real estate industry with MBA and 20 years of hands-on experience managing complex quantitative matters at top firms such as Vornado Realty Trust, Time Warner, Forest City Ratner and Jones Lang LaSalle.

▪ Service directed analytics providing solid foundation for corporate reporting functions, due diligence studies, cost analysis, forecasts of potential exposures to free cash flow, capital budget requirements, and opportunities for market value accretion.

▪ Experience in development, construction advisory, acquisitions, valuation, leasing analysis, loan underwriting, adaptive reuse, and portfolio asset management.

▪ Career focus on sophisticated problem solving . Insight on economic impact of cost control issues, underwriting variables and terms of transactional documents.

▪ Proven success identifying and evaluating key business issues effecting property value and budget forecasting to stimulate and influence corporate decision making.

BUSINESS EXPERIENCE:

Jones Lang LaSalle June 2006 - February 2009

Vice President / Development Services

▪ Prepare feasibility studies containing construction budget, development cash flow and operating proforma to analyze investment return for potential client projects such as : $500 million hotel/ casino development in Las Vegas, $300 million university campus expansion. Also analyzed several outside studies to prepare advisory critiques for private equity clients.

▪ Develop business plan and RFP for client The Port Authority of NY / NJ’s future observation deck and restaurant spaces to be built on the top floors of Freedom Tower.

▪ Analyze developer bids submitted re- West Side Yards RFP / advise NYC-MTA client on bids’ construction cost issues.

▪ Analyze developer bids submitted re- Bellevue Hospital adaptive reuse / advise NYC-HHC client on bids’ economic issues.

▪ Monitor trends in construction pricing (materials & labor) and construction spending for executive presentation slides.

Time Warner Inc. May 2001 - August 2005

Director of Finance & Budget

▪ Managed financial obligations of Time Warner in its role as developer’s partner (The Related Co.) in the construction and development of its 1 million square foot headquarters condominium unit within Time Warner Center at a cost of $900 million.

▪ Establish framework for Time Warner’s analysis and testing of The Related Co.’s financial reports to understand rationale for and account for degree of project costs allocated to Time Warner. Thorough review and analysis of documented construction costs, project legal agreements and invoice allocation methodology.

▪ Implement challenges to The Related Co.’s monthly requisition packages to reconcile true amounts of construction and development cost allocations to Time Warner. Methodology also employed to challenge terms of Related Co.’s Put Option. Achievements provided significant cost savings negotiated by Time Warner.

▪ Build and regularly update project cash flow model for Time Warner’s unit development costs. Model used to estimate cost exposures, monitor work in place and track budget vs. actual spending. Model also employed as basis of “lease vs. own” and “stay vs. move” analysis for Time Warner’s executive team.

▪ Point person for Time Warner’s executive team and outside consultants to negotiate appx. 500,000 sf of sublease transactions at former corporate headquarters.

Vornado Realty Trust (also former Mendik Co.) January 1992 - February 1993 & February 1995 – June 2000

Director

▪ Produced periodic and long term financial projections for 27 million sf of office buildings and shopping centers with a combined annual EBITDA of $400 million.

▪ Originated underwriting analysis containing cash flow/ ROI valuations and due diligence studies resulting in fast track closings over a 12 month period on 6 buildings totaling 5 million sf . Transactions were ahead of the market, providing substantial upside to going-in yields and included challenges such as ground lease analysis and potential to restructure major tenant leases. (Also performed financial review and due diligence on another 20 million sf of property that was not ultimately acquired.)

▪ Monitored aggressive leasing program by tracking statistical information related to vacant space, future lease rollover, potential for space remeasurement and average escalated rent in order to calculate opportunity, timing and value of incremental rent growth to optimize yields in a portfolio with significantly below market leases.

▪ Supported earnings forecast discussions by providing financials to answer Wall Street REIT community’s questions about property portfolio regarding exposures to leasing conditions, capital expense requirements and “mark to market” accretion.

Forest City Ratner Co. July 1989 - December 1991 & July 1994 – January 1995

Vice President

▪ Produced detailed line item hard and soft cost budgets including all sources of funding for 2 million sf MetroTech Center development project in downtown Brooklyn at a cost of $500 million.

▪ Generated cash flow pro-forma packages to calculate ROI and solicit financing from lenders.

▪ Synthesized key documents issued by construction management and accounting to create and monitor monthly status reports to track comprehensive capital spending & funding activity and measure extent of equity contribution.

▪ Researched and summarized terms of complex City of NY ground leases, public/ private loans and grants, and major tenant leases to monitor all documented terms with potential to impact project economics.

▪ Identified and tracked all project costs estimated as internal fees or reimbursement of overhead expenses.

▪ Coordinated with leasing brokers regarding parameters of lease-up strategy for 1 million sf of spec space in order to project timing of tenant occupancy, future cash flow stabilization and value of City incentive program.

Other Experience:

American Financial Realty Trust September 2005- May 2006

Newmark & Company July 2000 – April 2001

Federal Realty Investment Trust July 1993- June 1994

Cushman & Wakefield, Inc. February 1987- June 1989

EDUCATION:

Fordham University M.B.A. degree / Finance

Tufts University B.A. degree / English Literature

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