Managing Director, Real Estate Investments
Baltimore, MD/Washington, DC Metro
Our client is one of the largest and most successful lodging companies in the world. The company currently franchises more than 6,800 hotels representing more than 500,000 rooms in more than 44 countries and territories. Ranging from limited service to full service hotels in the economy, mid-scale and upscale segments, Company-branded properties provide business and leisure travelers with a range of high-quality, high-value lodging options throughout the United States and abroad.
We are looking for a team-oriented professional with extensive experience in real estate investment, development, and asset management, preferably in the lodging industry, to join our client’s Real Estate Investment and Asset Management (REIAM) team in the Baltimore/Washington DC metropolitan area. The role is focused on oversight of invested capital in hotels currently in pre-development, development, and eventually as open and operating assets. These hotels will include those where our client has capital at risk, i.e., joint venture equity interests, senior and mezzanine loans, land acquisitions, etc. This role will be critical in executing our client’s strategy to position its premier hotel product as a leading brand in the upscale hotel segment and in several other areas of the company’s real estate investing business. The company has committed a significant amount of capital to be deployed towards the growth of this brand.
This role will oversee projects from the limited partner, general partner, and lender role and will participate in the negotiation of financially complex transactions. In addition to investment and development oversight, prior experience in asset management, hotel feasibility, operations, and/or modeling of complex real estate capital structures is a plus. Proven ability to work in a highly collaborative manner with cross-functional teams and external partners, as well as demonstrated ability to communicate effectively and work efficiently with senior executives will be critical. The role will also have responsibility for directly or indirectly managing other associates within the REIAM group, including associates and analysts. The incumbent will be directly engaged in the following activities:
- Front end review of potential transactions involving our client’s capital investments
- Issuing term sheets and LOIs
- Negotiating JV operating agreements, loan agreements, purchase and sale agreements, development agreements, etc.
- Tracking contractual milestones and taking corrective action when appropriate
- Overseeing land site due diligence and land acquisitions with development partners
- Reviewing predevelopment, development and construction budgets
- Optimizing hotel asset operating performance upon hotel opening
- Monitoring markets / submarkets of portfolio assets (e.g., demographics, supply and demand, etc.)
- Completing periodic on-site property reviews
- Devising and executing strategies to maximize asset values
- Participation with JV partners in overseeing property managers
- Leadership of asset dispositions
- Devising and executing strategies to recycle capital (JV interests, loan repayment, asset dispositions)
- Close collaboration with the Brand, Franchise Sales, Finance, and Legal groups
TEAM: The REIAM team is responsible for all segments of the real estate life cycle: capital structuring, underwriting, negotiations, internal approvals, documentation, deployment, asset management, capital recycling and workouts. They manage global capital deployment to fuel the growth of select company brands, with a primary focus on our domestic premier brand. This role reports to the Vice President of the REIAM group.
- Demonstrated progressive experience in real estate, preferably in the hotel sector, with a strong preference for prior development and investment management experience as well as a background in asset management, hotel feasibility, operations, and/or underwriting
- Experience in real estate transaction structuring and understanding of real estate risk management
- Demonstrated success operating in a collaborative team environment
- Strong financial background and experience, including creating financial models and measurement tools to utilize and influence key decision making opportunities
- Business-driven, results-oriented team player
- Strategic thinking and creative problem-solving mindset
- Targeted travel will range from 15% – 40%