Real estate firm Alfred Sanzari Enterprises said July 20 it hired Timothy DeCola as chief financial officer.
DeCola is an established senior-level executive with more than 25 years of experience in real estate financial management. Leveraging his well-rounded background in financial analysis, management and planning, as well as his qualifications in investor relations and acquisitions, DeCola will be responsible for the integrity of the firm’s financial information and will oversee the accounting and finance departments, including budgeting, forecasting, credit and cash management, and lease administration. He will also oversee the organization’s risk management.
“We are thrilled to be able to bring Tim on board. Tim is no stranger to the impact a well-executed financial strategy has on a real estate organization, and the skills and experiences he brings to the table are exactly what we are looking for,” said David Sanzari, chief executive officer of Alfred Sanzari Enterprises.
“Tim is an expert in his field whom we have no doubt will bring tremendous value to our company as he streamlines our financial operations and ensures that we continue to be a resilient and agile organization that is well-prepared to respond to any opportunities and challenges that the future might present,” added Ryan Sanzari, president of Alfred Sanzari Enterprises.
DeCola was appointed to his first CFO role at the age of 33 and has since become an expert on all aspects of real estate finances including leveraged recapitalization, data analysis and stakeholder relations.
“I consider myself fortunate,” said DeCola. “Working in the real estate industry is my passion, and I am thankful for the opportunity to join one of New Jersey’s most successful and respected commercial real estate companies. I look forward to working with the Alfred Sanzari Enterprises team to help them build upon their seven-plus decades of commercial real estate success.”
Prior to joining Alfred Sanzari Enterprises, DeCola was chief financial officer at Black Spruce Management, a multifamily real estate investment and management company that owns more than 5,500 units across New York City, where he led the firm’s financial team. Before his time at Black Spruce Management, he served as the chief financial officer for several real estate management and development companies including McConnell Development, The Commonwealth Group, Pettinaro Construction Co., and Levin Management Corp.