1. Stewart L. Grounds, CPA
515 Cypress Drive Cell 817.312.9359 / Home 817.337.3993
Keller, Texas 76248 stewartgrounds@verizon.net
Financial & Operational Executive
Exceptional operational and financial expertise in real estate industry with unique blend of strong analytical, managerial
and interpersonal skills to produce desired results. Effective leader, adept at envisioning opportunities to streamline
operations and innovate reporting while gaining consensus with strategic key stakeholders. Progressive, multi-discipline
experience in commercial, industrial, multi-family and retail real estate. Major strengths include:
• Operational profit & loss • Budget Preparation/Management/Administration
• Operational forecasting • Financial & Operational reporting/report design
• Senior mgmt. presentation
• Cash management
• Bridging gaps between Financial & Operational
departments
SELECTED ACCOMPLISHMENTS
Financial Accomplishments:
• Cleaned-up company accounting and treasury management to help company improve from being a going concern to
more than quadrupling in size
• Managed financial side of company’s growth from 2,000 apartment units to over 9,500 units, and managed department
growth from a size of 1 direct report to a department of 10
• Reduced annual budget effort 1,500 hours by combining reforecast and budget efforts, gaining completion of budgets 6
weeks early.
• Saved company 1,000 hours from reforecast process by eliminating need to roll-out each year’s first quarterly
reforecast to field personnel.
• Identified improvable accounting procedures on new development buildings, improving buildings’ reportable net
operating income by $3.2M.
• Started accounting department operations from scratch and developed department first 5 years of its existence.
Operational Accomplishments:
• Improved regional same store sales controllable net operating income by $6.5 million (15%) for the year 2005 vs. the
year 2004, and then by 13% for the year 2006 vs. the year 2005.
• Exceeded competitive market in 2007 by over $3 million net rental income (combined occupancy and rent rate)
• Exceeded controllable net operating income budget by over $1 million in 2006 and 2007
• Regional portfolio achieved highest employee engagement survey score among 19 nationwide regions
• Reversed downward pricing trend by analyzing data to understand if issue was price, product, people or promotion.
• Supervised property tax analysis and appeal, saving properties millions of dollars per year on successful appeals.
• Created regional reporting methods adopted nation-wide.
• Developed efficient, statistical budgeting methods which streamlined field-level budgeting and eliminated haggling
between regional officers and field personnel.
PROFESSIONAL HIGHLIGHTS
Eureka Multifamily Group – Grapevine, TX 2009-Present
(EMG is a manager of both conventional and HUD-assisted apartment communities in the U.S.)
Chief Financial Officer

2. Stewart L. Grounds, CPA Page 2
• Responsible for financial reporting, forecasting and treasury management on portfolio of 36 apartment communities in
Texas, Louisiana, Oklahoma, Ohio, Pennsylvania and Tennessee, with annual revenues of $75 million
• Company accounting and treasury management was disorganized when arrived, was unable to grow and the company
was a going concern
• Portfolio has since grown from 2,000 apartment units to over 9,500 units
• Oversee accounting department of 10
• Periodic reporting and forecasting includes the weekly “Monday Morning Report” which projects the current month’s
income, expenses, capital expenditures, debt service, reserve draws and net cash flow at both property and portfolio
levels
• Coordinate annual CPA firm audits and tax returns, and respond to HUD inquiries on filed annual audits
• Coordinate annual selection/renewal of employee benefit plans
• Coordinate annual property tax valuation protests with outside property tax consultants
• Coordinate utility contract selections for properties located in retail utility markets, providing long-term cost savings
Apartment Investment & Management Company (AIMCO) – Irving, TX 2004-2008
(AIMCO was a Fortune 500 company, the largest owner and operator of apartment communities in the U.S.)
Regional Vice President/Vice President-Operations (2006-2008)
• Responsible for portfolio of 60 apartment communities in Texas, Louisiana, Arkansas and Tennessee.
• Responsible for annual revenue budget of $100 million and controllable net operating income budget of $60 million
• Oversaw 350 employees and 12 direct reports.
• Approved all capital projects to ensure region stayed within budget, while spending capital advantageously.
• Established monthly sales goals for the portfolio.
• Created incentives to maintain sales and operational excitement
Regional Financial Officer/Vice President-Capital Finance (2004-2006)
• Coordinated and approved bi-weekly “new pricing” on 400 floor plans in 60 apartment communities.
• Coordinated and approved monthly “renewal pricing” on more than 1,100 expiring leases per month.
• Attended monthly executive meetings and presented monthly operational results to CEO and COO.
• Performed ad hoc system queries to ensure community teams performed their duties with integrity.
• Re-forecasted income, expenses and capital expenditures monthly.
• Coordinated and approved annual property budgets.
CRESCENT REAL ESTATE – Fort Worth, TX 2000-2003
(Crescent was a publicly traded office REIT which owned and managed premier office buildings.)
Director, Asset Management Reporting & Analysis
• Selected for position created specifically to bridge gap between corporate and field operations to optimize
communication, streamline procedures, and motivate staff.
• Directed annual budget and quarterly re-forecasting processes.
• Supervised market research function, gaining data from third party sources to communicate in Crescent’s quarterly
press releases.
• Presented quarterly market research and quarterly operating results findings to company’s executive officers.
• Developed operational and financial reporting packages for regional officers.
• Supervised property tax analysis and appeal function on approximately $90 million of annual property taxes, achieving
savings on appeal of approximately $5 million per year.
• Prepared office portfolio’s annual business strategy plan.
• Led re-engineering project regarding conversion of budgeting/forecasting system.
• Supervised lease abstraction process and reporting of leasing activity results.
PROLOGIS TRUST / SECURITY CAPITAL GROUP – Chicago, IL 1994-2000

3. Stewart L. Grounds, CPA Page 3
(ProLogis was a Fortune 500 company, and the largest owner, manager and developer of distribution facilities in the
world.)
Regional Asset Manager/Regional CFO (1996-2000)
• Budgeted real estate funds from operations totaling $125 million and capital expenditures of approximately $7 million
on asset base of $1.25 billion. Budgeted G&A expenses of $10 million on 100 employees.
• Compared, and reported on, all monthly and year-to-date operating and financial results versus budget for region.
• Reported on all monthly and year-to-date G&A expense results versus budget.
• Re-forecasted year-end funds from operations, on monthly basis.
• Prepared monthly summary reports on year-to-date results and year-end forecasts. Submitted reports to company’s
Chief Operating Officer.
• Conducted monthly conference calls with region’s officers and professional staff to discuss year-to-date results and
year-end forecasts.
• Administered and appealed property taxes for region’s buildings and land, achieving savings on appeal of
approximately $3 million per year.
• Reviewed all leases to confirm language conformed to company standards.
• Reviewed and approved financial credit worthiness of all potential customers; approved all lease commission
payments.
• Audited property management system accuracy on monthly basis.
• Approved all refunds due customers per annual expense recovery calculations.
• Managed region’s growth to third largest industrial property REIT in nation: from 11 million to 36 million square feet,
from approximately 100 buildings to 300 buildings, from investment basis of $330 million to $1.25 billion, and annual
net operating income from $33 million to $125 million.
• Oversaw reduction of bad debt expense from 70 basis points to 6 basis points, as percentage of annual billings.
• Selected for task force overseeing property management system conversion.
• Trained region’s staff in credit review and monthly financial variance analysis.
Regional Controller (1994-1996)
• Supervised accounting staff of eight and reviewed monthly general ledger accounting for 200 properties.
• Edited and co-wrote accounting manual for operating properties.
• Developed automated summary spreadsheets to perform accounting reasonability review of 200 properties in single
business day.
• Centralized utility payment process, significantly reducing late payment fees.
FIDINAM INVESTMENT CONSULTING, INC. – Houston, TX 1989-1994
(Fidinam was a private owner and manager of office buildings, apartments and retail centers.)
Controller
• Started accounting operations at inception of company.
• Authored company’s payroll manual and co-authored employee handbook.
• Supervised accounting staff of 12 with no voluntary turnover final 3 years.
• Developed company’s payroll policies and administered all insurance plans and company’s 401k plan.
• Prepared federal income tax returns, state franchise tax returns, and department of commerce filings.
• Reported financial results to local and international investors on approximately 90 entities.
• Managed cash of over 100 bank accounts.
DON R. MULLINS INTERESTS – Houston, TX 1987-1989
(Don R. Mullins Interests was a private owner and manager of office buildings, apartments and retail centers.)
Assistant Controller
ERNST & YOUNG – Houston, TX 1984-1987

4. Stewart L. Grounds, CPA Page 4
Audit Senior
CERTIFICATION / EDUCATION
Certified Public Accountant
B.B.A.-Business Honors Program – University of Texas @ Austin
Graduated with high honors. Vice President of Beta Alpha Psi.
Life Member of Texas Exes alumni association