Regency Homes

Regency Homes and its 200 plus entities were in need of an Interim CFO until a full-time replacement could be recruited. The goal was to bring in an experienced CFO to provide leadership in a financially troubled environment until the permanent CFO was recruited. The person had to be experienced in real estate, debt refinancing, budgeting and forecasting. MorrisAnderson assessed the situation and accomplished the following: Provided leadership to the financial function of the company, Aided management in determining the alternative courses of action in a financially stressed environment, created a combined three year historic and two year projected financial statement and cash flow of all 200 plus entities in four weeks, facilitated the materials, agenda, and presentation to 31 banks for two bank meetings, provided independent analysis to the banks, negotiated a number of refinancing and sales of properties, successfully recruited a permanent CFO in 7 weeks from the inception of the engagement, and successfully transitioned the CFO in three weeks. MorrisAnderson did what was necessary to complete the job in a timely manner. They worked long hours and brought in additional resources to get the critical tasks done. Through their analysis and leadership, we were able to determine the most critical priorities in a financially stressed environment, as well as determine what assets to sell, and their respective values on a going concern and liquidation basis. I would highly recommend MorrisAnderson & Associates. Their team of motivated professionals delivered a timely product under immense pressure. We greatly appreciate the value they provided our organization and would highly recommend them.

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