Hailing from the tiny town of Menard, Texas (pop. 1,343), Forvis Mazars alum Cara DeAnda has emerged as a passionate leader in an industry that, prior to her joining the firm in 2002, she admits she knew little about and probably wouldn’t have chosen for herself. Today, Cara is Chief Operating Officer of San Antonio-based Galaxy Builders—one of the nation’s leading multifamily contractors.
In addition to serving as COO for Galaxy Builders, you’re also CFO for Versa Development. How are the two related?
They’re two separate companies owned by the same family. Galaxy is a third-party general contractor while Versa is focused on multifamily housing development. I joined both companies at the same time and split my time between the two.
COO of Galaxy and CFO of Versa … why two titles?
With Versa—which is much smaller, only eight people—I wear several hats but mostly serve in a traditional chief financial officer role. On the Galaxy side, over time my role has morphed more and more into other disciplines. I still do lots of financial work, but now I’m primarily involved in integrating all the company’s many core functions.
Since it was founded in 1991, Galaxy Builders has constructed more than 24,000 units. What are some of the key issues facing your industry?
The real estate market is especially challenging right now. Due to rising interest rates and construction costs, there just aren’t a lot of new deals closing. After 30+ years in the business, we understand that the real estate industry runs in cycles, and we are currently in a down cycle. However, our primary goal is to figure out strategic ways to keep our people, who are like family, and avoid layoffs. So, while we have fewer active jobs than we had a year ago, we are working on improving our foundation and processes and looking for creative ways to help clients get deals done—and hang on to our people.
With tariffs being imposed on Canada, Mexico, and China, what impact are they having?
Well, it’s making deals even more difficult to pencil because it creates a lot of uncertainty. Our projects are typically 24 months long, and to hold pricing that long is very difficult in a volatile market. If suppliers increase pricing, our subcontractors cannot absorb all that increase, so either we absorb some of the increase or pass it onto our clients. No one has a blank checkbook, but as a general contractor that’s in the middle between our clients and subcontractors, all parties look to us for a solution.
What attracted you to the accounting profession in the first place?
Both of my parents were in the school business in the small, central Texas town where I grew up. As much as I admire what they did, I knew I did not see myself managing kids all day long. I always enjoyed working with numbers, so I enrolled in the accounting program at Angelo State University in San Angelo. I soon became fascinated with discovering aspects of business I never had a chance to see in my little hometown—so I stayed the course.
And how did you come to Forvis Mazars and your current positions at Galaxy Builders and Versa Development?
After graduating from college, I decided to move to San Antonio because I thought there was more opportunity than staying in San Angelo. I started sending out applications, but only to local firms. Perhaps it was due to my small-town upbringing, but I was a bit intimidated by the big, national firms. I ultimately joined The Hanke Group, a local San Antonio firm where I was randomly assigned to its real estate and construction sector—an industry I knew little to nothing about and would not have chosen on my own.
But that’s where you’ve spent the remainder of your career …
Exactly. In 2008 the Hanke Group merged with BKD, where I almost exclusively served real estate/construction clients while rising to the rank of director. By then I was totally hooked on the industry. Then, in 2014, Galaxy—one of my clients—offered me a job. I saw it as a once-in-a-lifetime opportunity to work directly within the industry that had become my life. Also, Galaxy shares many of Forvis Mazars’ core values, including viewing my role not as a mere necessity, but as a true value-add.
How did your time at Forvis Mazars prepare you for your current roles?
First and foremost, it introduced me to the world of real estate and construction and ignited a passion in me for an industry I hardly knew existed. Second, it trained me to be a leader. I learned how to network and build relationships. I’m in my role today because of my 13 years at Forvis Mazars. They took a small-town Texas girl and helped me become a leader not only at my company, but within the broader industry and my community as well.
What does it mean to you to be a Forvis Mazars alum?
I think it all comes down to pride and gratitude. Pride in the firm and its values. And gratitude for the enormous career opportunity it gave me. And, you know, sometimes it’s the small things: when we decided to move to San Antonio to pursue our careers, the firm provided great comfort to me and my family in a city where we knew nobody. That means a lot. And it’s pretty special.
More about Cara DeAnda
- Has been married to her husband, Charlie, for 22 years.
- Has two children, Case and Claire.
- Serves as treasurer for ULI (Urban Land Institute) San Antonio.
- Serves as board chair of Hemisfair Redevelopment Corporation, an organization with a mission to redevelop the site of the 1968 World’s Fair—which had fallen into disuse—into a world-class park where San Antonio meets.
- Enjoys snow skiing, hiking, and outdoor activities with her family.
