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Executive with up to twenty years experience in P&L, operations, real estate development, financial analysis, treasury and accounting oversight. Private Equity investment management. MBA, Northwestern University Kellogg Graduate School of Management.


P&L LEADERSHIP Ten years of P&L responsibility in real estate assets totaling over $250 million. Instituted profit/project center accounting on all business units.

DELIGHTING THE CUSTOMER. Raised service level standard to 99%, property management costs cut by $300,000 annually.

PROJECT TURN-AROUND Reconfigured failed condo project to office lease, landed an anchor tenant, closed non-recourse financing, completed construction and achieved 95% occupancy within 1 ½; years. Project value $8 million.

FUND-RAISING/PROJECT FINANCE. Raised $7.4 million in equity capital for the venture within 4 months. Raised $15 million in private equity for project development and raised the first $7 million in project finance.

BUSINESS PLANNING.Developed numerous business models, budgets and plans. Examples are available for download from my web site.

Work experience



JJRK Senior Housing

Co-founded this start-up to build a $28 million independent and assisted living facility as part of a chain of facilities.

* $7.4 million in equity capital for the venture within 4 months

* Developed business plan for fund raising

* Leading the process of raising debt finance


Project Partner

Gaspar Properties

Responsible for development of a 32,000 SF conversion of a 1917 warehouse into office. Project value: $7 million.

* Developed business plan

* Secured debt

* Supervised all outside contractors

* Supervised brokers


Vice President

InterSource International, Inc.

Co-founder of private equity investment vehicle & holding company for business activities in the Baltics in real estate, restaurants & pharmaceuticals (

* P&L responsibility for all major projects

* Directly responsible for treasury of parent & subsidiaries.

* Developed annual business and operating plans.

* Set-up & supervised managerial accounting policies

* Responsible for shareholder relations.

* Oversight of accounting functions.

Divisional/joint venture positions held in addition to corporate responsibilities.

CFO & COO, InterSource Real Estate Development, Riga, Latvia1996-2005

Responsible for financial control, planning and operations of up to 150,000 sq. ft. of properties in the company’s own portfolio.

* Developed 280,000 sq. ft. in mixed use premises.

* Raised $25 million in financing for first property development projects in Latvia.

* Assumed COO/property operations responsibilities in 2001.

* Boosted occupancy from 85% to 95% occupancy in all properties.

* Turned property management losses into profit/break-even in 1 ½; years while reducing property operation costs.

* Successfully merged in-house property manager into division of a leading outsourced property management company (Ariel Baltic, below).

* Earned 4x on original investment on properties sold.

MANAGING DIRECTOR, Ariel Baltic, Riga, Latvia2002-2005

Property management joint venture with Ariel Properties, Israel (20 million sq. ft. under management). Responsible for all Latvian executive and operational functions. Managed 1.9 million sq. ft. in 570 properties including 7 office buildings (

* Increased property management business from 90,000 sq. ft. to 1.8 million in 2 years.

* Around $250 million in assets under management.

* Improved net profit from breakeven to $80,000 by end of 2nd year raised after-tax profit margin to 21%.

Key Customers:

TeliaSonera ($10 billion sales telecom serves Nordic region) Lattelekom subsidiary. Structured outsourced property management plan and played key role in acquiring business.

* Raised service level standard and successfully maintained those standards in excess of 99%.

* Cut customer property management costs by $300,000 annually.

Linstow International, (real estate developer with $200 million in assets & subsidiary of Anders Wilhelmsen, owner of Caribbean Cruise Lines.)

* Managed 150,000 square foot mixed use space including parking garage facility.

* Lead team which achieved 95% occupancy in new property.

* Negotiated all key account leases.

* Instituted computerized preventative maintenance program, which tracked and provided records of building & building system maintenance.

Key Tenants Managed:

* Alcon, American International Group, If…, Swedbank, US government, Dutch government, European Union, British Airways, Italian Government, BankServiss (Visa-MasterCard processor), Narvesen (Reitan Group $3.2 billion retailer).

VICE PRESIDENT/CFO, InvestaSource, Riga, Latvia1997-2002

Real estate development joint venture with Investa SA/Linstow International (subsidiaries, Anders Wilhelmsen, multi-billion dollar owner of Caribbean Cruise Lines).

* Negotiated joint venture agreement and $15 million in private equity.

* Negotiated $7 million in project finance.

* Successfully restarted a partially completed 75,000 sq. ft. construction project shut-down during the Russian debt crisis. Reconfigured the offering, landed an anchor tenant, closed non-recourse financing, completed construction and achieved 95% occupancy within 1 ½; years. Project value $8 million.

BOARD MEMBER, ACG Design-Build Services, Riga, Latvia1995-2005

Construction management subsidiary. Financial supervision.

CO-FOUNDER & BOARD MEMBER, Versija Medfarm, Riga, Latvia 1995-2001

At time of divestiture, Baltic’s largest importer of American generic pharmaceuticals from Harvard Drug Group.

* Supervised growth and exit of business for 17% annualized return.

CO-FOUNDER & BOARD MEMBER, Interkekava, Riga, Latvia,1992-1995

Established one of first fast food chains in Baltics in joint venture with State Poultry Company.

* Built to 8 units before selling to management after 6 years.

* Total return of capital within first two years.

My Resume

My Projects