Rick Powers

CAM/RE Tax Billback Specialist at Self-employed
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Contact Information
us****@****om
(386) 825-5501
Location
Glenview, Illinois, United States, US

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Experience

    • United States
    • Real Estate
    • 1 - 100 Employee
    • CAM/RE Tax Billback Specialist
      • Aug 2019 - Present

    • Controller
      • Aug 2016 - Present

    • Investment Banking
    • 1 - 100 Employee
    • Controller
      • 2011 - 2016

      Cedar Street was a start-up Development/Landlord operation in 2011 with 7 employees and approximately $28 million in acquired assets. In the 2011-2016 period the company grew to $97 million in acquired assets, with 95 employees and had sold 12 of its acquisitions for gross gains over $26 million. Cedar Street primarily performs gut-rehabs of old stock multi-tenant residential buildings in the Uptown neighborhood of Chicago.

    • Controller
      • Jan 2005 - Jul 2010

      Accomplishments* Third party accounting fees halved. * Cash management was centralized from 20+ accounts to three. * Budgets were instituted and used for employee goal management, cash forecasting and timely variance analysis.* Mortgage relationships included re-financings and acquisition analaysis and were processed annually. The company has increased the portfolio size by 25% since 2005.* Supervised staff of four, performed all month-end, year-end, final payable functions, and accrual adjustments.TLC owns and manages 2,200 apartments in 20 Chicago-area buildings and three strip centers. The portfolio has grown by 25% since 2005.

    • United States
    • Real Estate
    • 700 & Above Employee
    • Director of Acquisitions
      • Jan 1994 - Jan 2005

      Orginally company was MHC, Inc, it was renamed Equity Lifestyle Properties; NYSE symbol ELS. ELS expanded from 68 communities in 1994 to 142 communities by 2004 and is now the largest manufactured home community owner in the world.Accomplishments: * Managed due diligence for over seventy acquisitions. This included contract and transaction structuring review, acquisition modeling, and property accounting review. Transactions included joint venture relationships, dispositions, 1031 exchanges, stock mergers and installment sales.* Created the Internal Audit Department, including budget preparation, program implementation/installation, and goal reviews.* Promoted to become the direct contact with the brokerage community and property sellers to attain new acquisitions.

    • Controller
      • Jan 1994 - Jan 1995

      RSI is the retail wholly-owned subsidiary of ELS. RSI sells new and used homes in ELS communities and performs third-party brokerage. Accomplishments* The position required supervising the accounting staff and recreating the financial records for 1993 and part of 1994 that had fallen into disarray. * Budgets, forecasts, and timely financial presentation (monthly and annually) all were created and implemented.

    • Financial Analyst
      • Jan 1992 - Jan 1994

      Equity Assets Management, Inc. This company was the predecessor to Equity office Properties and Equity Residential Properties before Sam Zell turned them into public REITS. Accomplishments* Duties included reviewing office, retail and apartment acquisition opportunities (including operational due diligence of Seller numbers) and reviewing the existing portfolio for asset management strategies/internal vaulations.* The most challenging and enjoyable duties included creating the Ford City and Old Orchard ownership models for two successful redevelopments.

    • United States
    • Accounting
    • 200 - 300 Employee
    • Accountant
      • 1977 - 1979

Education

  • DePaul University
    Master's Degree, Real Estate Finance
    -
  • University of Illinois Urbana-Champaign
    BS in Accountancy & CPA
    -

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