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Vice President, Development (Southeast)

Location:

Raleigh, NC


Company Description:

Our client is an integrated real estate investor, developer, operator, and lender. On behalf of institutional and high net worth investors, they make and manage debt and equity investments in real estate and real estate-related securities through multiple business lines and strategies. Their equity business makes and manages CRE equity investments in multifamily, industrial, office, land for the development of such, and other types of CRE equity investments as warranted by market conditions. They have an affiliated credit business that is focused on transitional commercial real estate lending and other debt investments and a subsidiary that is a full-service real estate development business specializing in entitling, designing, and delivering institutional quality commercial real estate projects.


Position Description:

We are seeking a dynamic and highly motivated individual with a strong foundational understanding of development and project management experience focused on residential and mixed-use product.  The Vice President will be based in Raleigh, NC and report to the Chief Operating Officer of the development subsidiary.

 ESSENTIAL FUNCTIONS:

 Project Feasibility

  • Strong understanding of residential project and market fundamentals
  • Assist acquisition team in evaluating site feasibility and developing the project proforma in order to determine the highest and best use
  • Ability to develop project business plans including budgets and schedules with the input of Senior Vice President of Construction
  • Assist the acquisition team in preparing investment committee memos

Project Acquisitions

  • Sourcing is not a prime responsibility
  • Experience and ability to negotiate purchase and sale agreements as well as Joint Venture Agreements with outside counsel

Project Management

  • Ability to assemble and lead a project team including defining consultant scopes and contract negotiations
  • Strong understanding of land use and entitlements and the ability to develop project entitlement strategies and lead the coordination of such efforts with internal team and local jurisdictional agencies
  • In depth product knowledge and ability to coordinate with the planning, marketing and architectural team to develop the optimal product offering
  • Provide assistance with project capitalization strategies and efforts
  • Manage the development process including:
  • Entitlements
  • Design
  • Permitting
  • Contract tracking and administration
  • Schedule and budget updates
  • RFI review and management
  • COR negotiating and tracking
  • Review Equity funding and Bank draws
  • Prepare and provide updates to investment committee on project status and progress
  • Manage ongoing communication with partners and lenders
  • Manage updates to business plan including re-underwriting and ad hoc analyses

Marketing

  • Assist leasing team with marketing efforts including site tours, tenant coordination and T.I. buildout

Capital Markets

  • Assist Capital Markets team with securing debt and equity financing

Qualifications   

  • Significant development and project management experience focused on residential product (wood and type I)
  • Engineering or architectural background a plus
  • Excellent communication skills

Education           

  • Bachelor’s degree required. MBA, architectural, engineering degree preferred.

To learn more about this position, contact: Christine Pinkerton | (919) 679-9149 | cpinkerton@crownsearch.com

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