Archive for Finance & Accounting

Michael C. Owens, C.P.A.

Mike leads Cullinan Properties’ investment activities and ensures the necessary capital stack is in place for all Cullinan projects from national, regional and local sources. During his time at Cullinan Properties, Mike has been the point person on over $1 billion of construction, mini-perm and permanent financing. He also leads Cullinan Properties’ Office and Medical Division. Currently, Cullinan Properties’ portfolio has in excess of $200 million of medical facilities. Including previous projects completed, Cullinan has developed over $300 million of office and medical projects in the last 10 years.

Prior to joining Cullinan Properties in 1995, Mike served as Senior Financial Analyst and Property Manager for Equitable Real Estate Investment Management (EREIM) in Chicago, a third party asset manager where Mike maintained an asset portfolio in excess of $300 million. Preceding Equitable, Mike was a Senior Property Manager for Equitable’s sister company, Compass Property Management. In 1988, Mike began his career as a Senior Auditor at Grant Thornton, a Chicago-based public accounting firm where he performed audits for a variety of client types including municipal, manufacturing, financial and real estate. Mike holds a Bachelor of Science Degree in Accountancy from University of Illinois and is a Certified Public Accountant (CPA).

Mike serves on the Board of Directors for the Streets of St. Charles Community Improvement District (CID).

Timothy J. Hogenkamp, C.P.A.

Timothy oversees the Accounting Department including all of its operations, treasury functions, company cash management and insurance risk management, as well as involvement with various tax and other finance matters. He also is responsible for driving strategies that grow Cullinan’s investor base.

Prior to joining Cullinan Properties, Timothy spent close to 18 years as Vice President at Staenberg Group and THF Realty, where he was responsible for all operating accounting, budgeting, tax compliance, financial reporting, lease administration, risk management and human resource functions.  He also has experience in startups, growth and billion-dollar industries having served in various capacities with Venture Stores, Anheuser-Busch and other organizations. Timothy holds a Bachelor of Science in Business Administration Degree in Accounting from the University of Missouri. He passed the CPA exam in 1993.

Timothy volunteers his time with St. Louis Crisis Nursery and has held board positions there for over 10 years. He is also involved with the Cystic Fibrosis Cycle for Life event and Gateway Off-Road Cyclists (GORC).

Sean R. Garrett

Sean leads Cullinan Properties’ Acquisitions and Dispositions Department with responsibilities for identifying acquisition targets, conducting financial analysis and due diligence, and ultimately closing on purchases. As a diversified real estate company, Cullinan’s acquisitions span several different asset types and range from raw development ground to stabilized, income-producing assets. Aside from acquisitions, Sean also heads up key strategic dispositions to ensure the Cullinan portfolio is well-balanced and consists of assets that align with our long-term portfolio strategy.

Sean provides daily direction to the leasing, marketing, and construction departments to help guide potential opportunities from inception to reality. He is responsible for maintaining and establishing many key relationships at Cullinan whether they are municipal partners, equity investors, brokers, buyers, sellers, or tenants. Helping our clients achieve success is a guiding value of our company and provides Sean with daily motivation.

Prior to joining Cullinan Properties in 2011, Sean served as a Development Associate in Washington, D.C. at Western Development Corporation, where he coordinated the pre-development of over 1 million SF of retail and mixed-use projects. He was also a contributing team member during the founding of Fundrise.com, which is now one of the leading real estate crowdfunding platforms in the country. Sean graduated from the University of Pennsylvania.

Sean is actively involved in the Peoria community. He currently serves on the Peoria CEO Council and as a Board Member of the BizPAC of Central Illinois where he recently completed two terms as Chairman. Sean has sat on the Advisory Council for the Emerging Philanthropists and has served on several cabinets and committees for the Heart of Illinois United Way.

Sean and his wife Crystal love traveling, mountain biking, and snowboarding in their free time. He is a native of Albuquerque, New Mexico and has grown up in the real estate business as the son of a real estate developer.

Laura Kosinski, C.P.A.

Laura leads the Accounting Department with preparation of the financial statements and operating budgets for Cullinan’s various company-owned properties. She also coordinates cash funding needs, calculations, tax compliance and investor reporting. Laura brings over 25 years of experience to the team, having worked as both an outside tax and accounting advisor and as a leader of internal operations.

Prior to joining Cullinan Properties in 2019, Laura served as Director of Finance and Administration for a consulting company and small commercial real estate development company in Normal, Illinois. She holds a Bachelor of Science degree in Accounting from Illinois State University and is a Certified Public Accountant (CPA).

Diane Briggs

Diane brings in excess of 20 years of construction, administration and project accounting experience to her position. She is involved in the project draw process from inception through bank financing. Great attention to detail and the ability to handle numerous projects at one time enable Diane to be very effective and productive in her daily work.

Toni Ramadani

Toni leads the financial feasibility analysis and due diligence for new development projects at Cullinan Properties and assists in raising investment capital. He is immersed in many facets of the development process including site plan design, underwriting and analyzing sale/lease opportunities, forecasting and monitoring pro forma cash flows, and projecting the value of and providing guidance as to municipal incentives.

Toni has provided analysis and due diligence on over $1 billion worth of mixed-use real estate developments. As a part of a recent greenfield development, his analysis and presentation package was integral in raising over $3 million in private equity for the project. Toni is also very active in adding value to properties currently owned and managed by Cullinan Properties. To date, he has worked with leasing, construction, marketing, and legal to add over $1M worth of value to Cullinan Properties’ existing portfolio.

Prior to joining Cullinan Properties in 2016, Toni headed the financial modeling for the $20M Field Sales Bonus program at Allstate Insurance. He holds a Bachelor of Business Administration Degree in Real Estate and Urban Land Economics from the University of Wisconsin-Madison.

Bryce Barnes

Bryce is responsible for conducting financial analysis on properties within Cullinan’s portfolio, in addition to structuring the terms of new lease deals. He is also involved in underwriting potential acquisitions as well as evaluating and facilitating the sale of multiple assets. Bryce concentrates on the redevelopment efforts of Cullinan’s established shopping centers by providing guidance on municipal incentives, structuring new tenant deals and project financing. In addition, he is heavily involved in the bidding process for government medical/office projects throughout the country through pro forma construction and project underwriting.

Prior to joining Cullinan Properties in 2018, Bryce served as Credit Analyst at Heartland Bank & Trust in Bloomington, IL. There, he was responsible for reviewing credit portfolios and financial statements in order to determine and assess the risk profile involved in lending decisions. He also assisted with structuring credit facilities and managed some of the bank’s largest lending relationships. Bryce graduated Summa Cum Laude from Illinois State University with a Bachelor Degree in Finance.