Nicola (Nick) Colasante, CPA
BSBA, West Virginia University, 1980 – Concentration in Accounting
As Glenmark Limited Liability Company’s Chief Financial Officer, Nicola “Nick” Colasante is responsible for the financial stewardship of the company, including capital and operating budgets, financial affairs and reporting, procurement and debt/treasury management. Since joining Glenmark in 1994, Nick has proven to be a valuable asset to the team. His financial guidance has contributed greatly to the company’s overall growth. With a reputation for accuracy and comprehensiveness, Nick’s efforts have been significant in providing Glenmark with financial leadership that has led to sustained company growth and profitability achievements during his tenure.
Nick commenced his career with Glenmark Associates, Inc. in 1994 in the position of Division Controller of the Horizon Medical division of the company. Glenmark Associates, Inc. (predecessor to Glenmark LLC) was a healthcare company focused on long-term care facilities and auxiliary services. While working with Horizon, Mr. Colasante was responsible for the financial oversight of the integrated company operations of mobile x-ray, medical products, rehabilitation disciplines, and the institutional pharmacy. Preceding this time period, Mr. Colasante, who is a Certified Public Accountant, was employed in the financial management field and held the titles of Partner with a local public accounting firm, plus Vice President and Controller with a publicly-traded healthcare company. Prior to his position as CFO, Mr. Colasante represented Glenmark in the capacity of Vice President of Business Development; a position he held from 2001 to 2012. He was instrumental in assisting the company achieve its remarkable average annual growth rate of 12% between 2000 and 2014.
With Glenmark, Mr. Colasante has been involved with all phases of project development, from site selection and acquisition through design, construction, financing, marketing, leasing, and property management oversight. In his business development position, Nick became the initial point of contact and liaison for the varied clients and tenants of Glenmark. Even as CFO, Mr. Colasante continues to provide support to leasing and purchase inquiries, attention to tenant expansion needs, and similar projects. Over the years, Glenmark has identified itself as a leader in the real estate development business in the greater Morgantown area. Mr. Colasante, through his personal commitment, has taken pride in developing and sustaining long-term relationships with the tenants and clients of the firm.
Mr. Colasante also has extensive experience working with both state and federal government agencies in the planning, design, and development of new agency leased facilities. Nick has been successfully involved in achieving LEED certification status for two GSA projects while overseeing the tenant improvement component of those long-term lease projects. Additionally, Mr. Colasante was involved in the design of a real estate investment venture utilizing tax conservation easement benefits by strategically giving up property rights in exchange for income taxation benefits.
Today, Mr. Colasante is responsible for the preparation of all Glenmark’s financial statements, including the presentation of annual reviewed reports and future forecasts. He is in charge of cash management and banking relationships. Further responsibilities include financial matters of acquisition and development of properties which includes projections and budgets, offering memorandums, debt commitments, and closings. Mr. Colasante oversees and finalizes the financial analyses for all business pursuits. Additionally, Nick is in charge of investor relations as it pertains to quarterly reporting and distributions, and tax reporting.
Nick brings a broad range of talent and experience to his position; he takes a detailed, hands-on approach in understanding the company’s goals and formulating positive financial outcomes. His creativity and broad background in business make him a valuable asset in the development process. Customer service and satisfaction are the ultimate goals whether it is a complex build-to-suit long-term lease project or a smaller undertaking.
At West Virginia University, Nick was a member in Beta Alpha Psi, Beta Gamma Sigma, and the Golden Key Honor Society. Mr. Colasante has been an active community and charitable participant. He served as a Board member and Treasurer of his church (St. John’s Parish) and was the past Treasurer of the Morgantown Area Chamber of Commerce. He is a current member of the American Institute of Certified Public Accountants. A Morgantown native, Nick and his wife Brenda have two adult children.
