About Coba
Colorado Bathhouse (Coba) is a destination wellness facility currently in
pre-construction at 1339 Osage Street in Denver's Santa Fe Arts District.
Spanning 43,000 square feet, Coba is being developed under a multi-entity
capital structure — OpCo, PropCo, and a HoldCo — with a total capitalization
of approximately $30M. This is a ground-up, owner-driven development that
requires a senior finance leader capable of operating across the full spectrum: construction cash flow, active capital formation, investor relations, and pre-opening financial operations.
Position Summary
The VP of Finance will serve as Coba's senior financial officer and a direct
strategic partner to the CEO. This is not a back-office role. The VP will own the financial narrative internally and externally — managing construction-phase cash flow with precision while supporting an active capital raise across three investment vehicles. The right candidate brings credibility in front of lenders and investors, fluency in complex capital structures, and the operational discipline to build a finance function from the ground up.
This role reports directly to the CEO and works closely with the GC, Owner's
Representative, capital introduction consultants, legal counsel, and the
company's LP base.
Key Responsibilities
Capital Development & Investor Relations
• Serve as the internal lead on Coba's active capital raise across PropCo
Preferred Equity (PPE), HoldCo Preferred (MCP), and HoldCo Common
(Landmark Investor) investment vehicles
• Own and maintain the baseline financial model, including proforma updates,
waterfall distributions, IRR sensitivity analysis, and preferred return accrual
tracking
• Prepare and deliver investor reporting packages, capital account
statements, and LP communications in accordance with operating
agreement terms
• Partner with capital introduction consultants, securities counsel, and the
CEO on investor onboarding, subscription documents, and ongoing LP
engagement
• Lead lender relationships and manage debt covenant compliance, draw
requests, and C-PACE reporting obligations
Construction Finance & Cash Flow
• Own the construction cash flow model across all entities — draw
schedules, lien waiver tracking, retainage reconciliation, and
cost-to-complete projections
• Coordinate with the GC (Sprung Construction) and Owner's Representative
on budget-to-actual reporting; identify and escalate cost overruns and
change order impacts in real time
• Manage disbursement workflows across Colorado Bathhouse LLC,
Bathhouse Builders LLC, and HLD1339 LLC, ensuring proper intercompany
accounting and entity-level integrity
• Maintain a rolling 13-week cash flow forecast and present weekly to
executive leadership
Financial Strategy & Operations
• Translate financial performance and project milestones into clear,
decision-ready reporting for the CEO and board
• Build and own the pre-opening and Year 1 operating budget; establish
spend approval frameworks and internal controls
• Develop the chart of accounts, general ledger structure, and month-end
close processes across all entities
• Coordinate year-end audit and tax filings with external CPA; manage
banking relationships and treasury operations
• Identify and communicate financial risks proactively — construction,
capital, and operational — with recommended mitigation paths
• Maintain a rolling 13-week cash flow forecast and present weekly to
executive leadership
Qualifications
Required:
• 10+ years of progressive finance experience, with a minimum of 3 years in a VP-level or equivalent senior leadership role
• Demonstrated track record managing construction-phase cash flows, draw
schedules, and cost reporting on ground-up or major renovation projects
• Direct experience supporting capital raises — including preparation and
presentation of financial models, investor materials, and LP reporting
• Deep fluency in real estate or hospitality capital structures: preferred equity, mezzanine debt, waterfall distributions, and promote mechanics
• Ability to communicate financial strategy clearly to non-finance
stakeholders, including investors, lenders, and development partners
• High autonomy operator; comfortable building processes and infrastructure in an early-stage environment with no established finance team
Preferred:
• Experience with multi-entity development structures (OpCo / PropCo /
ConstructCo) and inter-company accounting
• Familiarity with C-PACE financing, NNN ground leases, or property-level
preferred debt instruments
• Background in hospitality, wellness, entertainment, or experience-sector
real estate development
• CPA, CFA, or MBA — preferred but not required; track record matters more
than credential
Compensation and Structure
This is a foundational leadership hire. Compensation is structured to reflect the stage of the company, the seniority of the role, and the candidate's direct contribution to capital formation and construction outcomes.
• Competitive base salary, commensurate with experience
• Equity participation in the MasterCo structure (Class B or equivalent),
subject to vesting schedule
• Pre-opening stipend structure with transition to full salary upon project
financing close
• Direct access to the CEO and meaningful ownership over financial strategy
from day one