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CFO, Accounting and Portfolio Management Services for Real Estate Developers and Sponsors.

Remington serves as your outsourced finance department, striving to institutionalize your financial operations and reporting while leveraging extensive experience in the real estate industry to add value throughout your business.

We’re adaptable, entrepreneurial, and have real experience as the CFO and operating partner in real estate companies. We understand how to build and improve the finance function, we’ve done it many times, and we also understand the real estate business beyond the debits and credits.

We’ve been involved with investment underwriting, property management, asset management, debt and equity sourcing, and complex transactions and structures throughout the capital stack. We understand how the finance and accounting function needs to interact with your deals, from LOI through disposition.

Our founder is a Certified Public Accountant who has nearly 20 years of experience in real estate finance. He spent several years auditing properties and operating companies before spending over 10 years as the in-house finance lead for entrepreneurial real estate developers and fund sponsors, where he has overseen portfolios worth up to $1 billion. He holds a Bachelor’s Degree in Accounting, a Master’s Degree in Real Estate and a Master’s Degree in Business Administration.

Who we serve

Past the bookkeeper. Not yet a finance department.

Remington exists to serve developers and sponsors that require more than bookkeeping and are too busy to run their own back office.

We add value at this stage when your portfolio and capital stacks are becoming complex. Without an elevated finance function, you notice the output isn’t meeting what’s required and your operations are inefficient.

Software doesn’t have the depth required, development budgeting and cost tracking isn’t as detailed as needed, financial reporting isn’t institutional grade, financial data isn’t fully available or is available too late. You, your investors and your lenders notice.

The model is simple: retain the finance chair and accounting department for the output you need and allow your founders and principals to spend more time growing your business and focusing on its portfolio.

What Remington runs

Your finance function handled — from deal acquisition to disposition.

Remington provides CFO services for developers and sponsors. The finance chair when you need it, with controllership performed in parallel, not delegated. Six main areas of responsibility, one point of accountability.

Accounting

For when the books need to tie out every month, not just at year end.

Remington runs the monthly close and acts as your controller. That means financial statements for every entity you manage, including assets, funds, SPVs, operating companies, and management companies. Internal controls and treasury processes are designed for your organization and actually followed. The accounting software is chosen, set up, and kept clean. Payments go out and receipts get reconciled efficiently. When audit or tax season comes, the files are ready and we manage the processes to completion with outside accounting firms.

Monthly close · Controllership · All entity reporting · Audit readiness · Tax return management

Cost Management

For when developers need clear reporting on what’s spent, what’s budgeted and how what’s left is being capitalized.

Development budgets built and tracked line by line in real cost-management software, not a spreadsheet that drifts or accounting software that lacks appropriate job costing design. Remington prepares and submits lender draws, reconciles sources and uses as the deal funds, tracks contingency balances, and reforecasts the budget as you provide insight on bids, change orders, and schedule changes. Cost segregation studies and certifications are managed to the finish, so depreciation lands in the books and the return the way it should.

Budget and cost tracking · Draw requests · Reforecasting and contingency · Sources and uses · Cost study management

Capital Stack

For when your cap stack isn’t so simple.

Every dollar in the stack is tracked from closing to exit. Debt sources and equity accounts tracked by investor and by class, capital calls and distributions calculated and processed, and the deal waterfall maintained so the split is right when money moves and returns need to be calculated. Offering documents, operating agreements, side letters and other investor terms are tracked alongside the accounts, so the terms an investor negotiated are the terms they get.

Equity and debt stack tracking · Capital calls and distributions · Waterfall maintenance · Operative document review

Investor and Lender Relations

For when your investors and lenders expect a clean report, not a phone call.

Remington supports the development of investor and lender reporting, so your financing partners receive the information they need when they should. Investor data is kept current in one place, investor reporting and K-1s and other tax documents are distributed on time. When you raise the next deal or fund, Remington helps organize the data room and stands behind the numbers. And we’re the single point of contact for your tax preparer, auditor and fund administrator, so they call us, not you.

Investor reporting · Lender reporting · Tax document distribution · Data rooms · Service-provider liaison

Transactions

For the financial management you need to navigate complex transactions.

Underwriting and acquisition support from first look through closing, investment structuring and terms worked through with your counsel, and the financial side of debt refinancings and equity recapitalizations run end to end, with an understanding of the accounting and reporting requirements that follow. On the way out, sale proceeds waterfalls, final distributions, and the accounting for the exit.

Underwriting support · Structuring consultation · Refinancing · Recapitalization · Dispositions

Asset and Portfolio Management

For after development, when returns are made or lost in the operating detail.

Operating budgets tracked against actuals, property management financials reviewed and reconciled to the ownership-level books, and ROI analysis on leasing and capex decisions before they’re made. At the asset level, ongoing underwriting and return analysis; at the equity level, returns assessed through the waterfall so you know what each class is actually earning. Asset and equity valuations and portfolio metrics kept current, so the picture is ready when a partner, lender, or investor asks.

Budget vs. actual · PM financial review · Leasing and capex ROI · Asset-level and equity-level returns · Asset and equity position valuations
What Remington coordinates

We quarterback the finance function and coordinate with your bench of specialists.

Remington hands your outside specialists clean financials and support, and keeps the whole file and process coordinated so nothing falls between chairs. Specialists remain responsible for the filing, the opinion, and the advice.

Tax preparation and K-1s
RemingtonTax basis books and capital accounts that tie out, providing a filing-ready tax package on schedule.
The tax preparerPrepares, signs, and files the return, and advises on complex items.
Audit and assurance
RemingtonGAAP or tax basis financials and footnotes prepared, and supporting schedules, reconciliations, and documentation ready to be audited.
The audit firmPerforms the audit testing and issues the opinion on the financial statements.
Legal and entities
RemingtonCap table and waterfall maintenance, and operating agreements, deal structures and economic terms understood and translated in the numbers.
The legal counselDrafts agreements, signs off on deal structures, and provides transaction guidance.
Cost reports
RemingtonPrepares accounting support and manages the cost segregation or cost certification study engagement.
The cost study firmPerforms testing and stands behind the study issued.
Debt placement and reporting
RemingtonLender reporting package, sources-and-uses, and covenant tracking.
The mortgage brokerSources and places the debt.
Insurance and risk
RemingtonCarries coverage in the budget, draws, and forecasts.
The insurance brokerAdvises on and binds the policy.
How it works

Start with a diagnostic. Leave with a finance function.

STEP 01

Diagnostic

We review your portfolio, structure and operations and determine what we can run.

STEP 02

Build the backbone

We stand up the operating model, the software, and develop current financial reporting and output.

STEP 03

Run it with you

We run the finance function on an ongoing basis, scaling and adjusting as your business evolves.

Questions

What people ask on the first call.

How is the engagement priced?

Remington performs the initial diagnostic for a fixed fee and determines how to best partner with your business. Thereafter services are provided on a monthly retainer basis, set based on variables such as the size of your portfolio, asset lifecycle stages, required outputs and additional services performed.

Is there a minimum commitment?

The initial retainer period is 6 months, after which there’s no minimum commitment. We serve your business while remaining mindful of quarterly and annual reporting requirements and the timing of other ongoing outputs.

What systems do you work in?

Remington leverages industry-leading software such as Yardi, for accounting, and AppFolio, for investment management. We have experience with additional accounting and investment management software and determine the best software architecture during the diagnostic period.

What don't you do?

Remington Real Estate Finance provides fractional finance, accounting, and controllership services. It does not provide tax preparation, audit or attest, or legal or investment advice — those stay with your tax, audit, legal, and investment advisors.

How do we get started?

We have an initial meeting where Remington presents our capabilities and we review your business, portfolio, current state of operations and areas for improvement. If we’re the right partner for you, we expand on that review through the diagnostic period.

Get in touch

Let’s discuss our partnership.

A 30 minute meeting. Bring one deal or your entire portfolio and we’ll figure out how to help.

Prefer email? inquiry@rrefcfo.com