Crown Advisors represents the real estate industry’s most sought after companies and positions including senior executives. Our clients trust us to find top quality candidates and we continually add new real estate, construction, and related opportunities to our list of active searches.
Vice President, Asset Management (Multifamily)
Metro Washington, DC
Founded over 70 years ago, our client has evolved into one of the most established privately held, professionally managed real estate investment firms with in-house expertise in value-add renovations, development, finance, acquisitions and asset management. Our client is actively pursuing opportunities both inside and outside its legacy portfolio and growing its footprint beyond the metropolitan Washington, DC and Richmond, VA markets.
ESSENTIAL FUNCTIONS: The Vice President of Asset Management will be responsible for setting the overall strategy for leasing and asset management for a portfolio that includes approximately 4,500 multi-family apartments and associated retail, 300,000 square feet of office, a mixed-use development project, and a 221 key hotel primarily located in the metropolitan Washington, DC area and Richmond, VA, with the likelihood of additional assets in Florida, Tennessee, Texas and the Carolinas. The candidate will be a key member of the team that works to maximize multi-family property performance, increase value, ensure organizational effectiveness, implement high operational standards, and apply its commitment to outstanding service.
JOB RESPONSIBILITIES: The primary job responsibilities include, but are not limited to, the following:
Overall Portfolio Management
- Responsible for the investment performance, reporting, and strategic direction for a portfolio of multifamily assets, primarily with core, core-plus, and value–add strategies.
- Develop and manage the implementation of asset strategies and operational initiatives aimed at maximizing values in the portfolio.
- Analyze and report on performance, budget variances, and significant changes in market and property conditions.
- Coordinate the preparation and presentation of reporting requirements to a variety of stakeholders including co-owners, corporate office, and external parties.
- Work with the finance team on refinancing and restructuring strategies.
Property-Level Strategic Planning
- Create and oversee the business plan for each property. The business plan should address the overall investment strategy for the property, how it fits into the firm’s portfolio objectives, and strategies to increase property cash flow and/or value.
- Develop annual operating and leasing budgets, and a mid-year reforecast, for each project to include all revenues, expenses, and capital expenditures
- Create and present detailed financial analyses to support recommendations and decision making for capital expenditures, leasing activities or other strategic initiatives, as needed.
- Actively collaborate with in-house and third-party leasing teams to execute leasing strategy, including analyzing the impact of various leases on asset performance.
- Analyze and monitor capital improvement and renovation programs as required for property maintenance, competitive positioning, or value enhancement.
Acquisitions and Dispositions
- Assist in underwriting of new acquisitions.
- Participate in due diligence review of potential acquisitions with particular attention to assumptions regarding operations and operating expenses.
- Review, analyze and recommend property managers and/or leasing agents for new acquisitions.
- Transition acquired properties into the portfolio.
- Prepare financials and due diligence packages for potential dispositions.
Experience and Education
- Undergraduate degree, additional education preferred
- Minimum of eight years of commercial real estate property/asset management and analytical experience
- Significant real estate asset management experience with an owner
- Prior experience working with investments managed through operating partners
Technical Skills and Qualifications Required
- Strong valuation, due diligence, and real estate financial analysis skills
- Advanced proficiency with Excel required
- In-depth understanding of property operations and leasing
- Market analysis skills to support decisions concerning rent rates, capital improvement programs, leasing strategies, and property repositioning
- Independent, solution-oriented and creative thinker
- Strong understanding of commercial real estate concepts and valuation techniques
- Excellent verbal and written communication, interpersonal, and presentation skills
- Conscientious, self-directed and entrepreneurial with the ability to work both independently and collaboratively with teams
- Excellent organizational and planning skills with sharp attention to detail
- Ability to work accurately and efficiently with an ability to succeed under tight deadlines
- Ability to handle multiple projects at one time
- Strong sense of personal motivation and responsibility
Director, Transactions and Development
Founded in 1984, our client is a comprehensive real estate firm headquartered in Washington, DC with a full-service office in Beverly Hills, CA. They specialize in the acquisition, development, redevelopment, and value enhancement of mixed-use properties and shopping centers. The company takes a long-term, conservative approach to real estate ownership and development actively seeking new projects in their core markets of Washington, DC and Southern California. They have developed or acquired a $2 billion portfolio totaling 6 million square feet with an active development pipeline valued at over $1 billion.
Reporting to the Executive Vice President, Acquisitions and Development, the Director is responsible for the disposition of identified properties within the existing retail portfolio, working with the acquisitions team to implement strategic asset management initiatives. The incumbent establishes and maintains relationships with property owners, investors, brokers and others active in the acquisition of real property in the markets where disposition assets are located.
- Education: Bachelor’s degree in Business, Finance, Real Estate, or related field required; MBA preferred.
- Experience: Minimum of seven (7) to ten (10) years of experience in either DC Metro or Southern California commercial real estate markets, with strong contacts among real estate owners and brokers and broad experience negotiating, analyzing, managing due diligence and closing real estate transactions. Must possess superior, demonstrated knowledge of developing and utilizing commercial real estate financial pro-formas.
- Skills: Must have proven ability to network and develop productive relationships and demonstrate skill developing and managing teams of professionals. Must possess excellent communication, negotiation, analysis and problem-solving skills. Must be able to work on multiple deals simultaneously and travel to the CA office as needed. Computer literacy required including a strong working knowledge of MS Office (Outlook, Word, Excel) in a Windows environment. Must be proficient in Argus.
NATURE AND SCOPE:
- Manages the disposition of portfolio properties, including identifying and selecting brokers, preparing marketing packages to submit to brokers, reviewing and commenting on broker prepared offering memorandum, identifying and contacting prospective buyers, performing analyses on offers received and making recommendations to owner, negotiating sale terms, managing due diligence process and closing.
- Acts as lead negotiator for all dispositions (east and west coast); reviews and comments on purchase and sale agreements, develops and maintains positive relationship with counsel and other service providers for each owner in the sale of assets.
- Performs financial analysis (Excel and Argus) as needed to support the listing and sale of assets; addresses buyer inquires during due diligence and resolves issues; prepares, sends out and receives tenant estoppels, tenant notices and other items required by purchase and sale agreement for closings; reviews prorations and settlement statements for accuracy and completeness.
- Evaluates capital markets impact on dispositions. Prepares internal valuations of target disposition assets.
- Prepares disposition status report for, and participates in, inter-departmental acquisitions/dispositions meeting with ownership; communicates regularly with internal Executive team.
- Travels between DC and CA offices to facilitate the sale of identified assets.
- Assists the members of the Acquisitions and Development Department with establishing broker relationships and touring new markets/submarkets.
- Assists the members of the Acquisitions and Development Department with sourcing acquisition opportunities.
- Assists members of the Acquisitions and Development Department underwriting new ground-up residential and mixed-use (retail & residential) development projects.
ESSENTIAL JOB FUNCTIONS:
- Maintenance of excellent relationships with property owners, developers, brokers and other relevant industry professionals in the current and prospective markets.
- Maintenance of knowledge of existing markets.
- Keeps abreast of industry activities and environment including what types of deals are possible, who are the key players and the current cap rate and financing environment.
- Excellent working knowledge of property valuation analysis and commercial real estate underwriting.
- Highly experienced with Excel and Argus.
- Adopts a collaborative approach with company colleagues, so when the need arises for their cooperation and assistance, both are provided timely and thoroughly.
- Critically assess purchaser offers (certainty of closing, adequacy of price, market rate terms and provisions, etc.) and presents analyses and recommendations to management.
- Implement strategic initiatives and close transactions as approved by management.
Vice President, Construction
Our client currently manages a national portfolio of high-quality, well-located industrial assets totaling over 355 million square feet throughout the United States
The Vice President of Construction is responsible for the execution and delivery, and subsequent reporting, for all tenant improvement, make-ready and building reposition/renovation work for the Northeast region’s 53 million square foot (and growing) portfolio. Responsibilities include working with the Asset Management team and third parties to develop design specs, space plans, budgets, and timelines. The Vice President of Construction will oversee and manage the third parties (property managers, leasing teams, project managers, vendors, and general contractors) to ensure the timely delivery of the work under the agreed budget. This position is based in their Northeast office located in suburban Philadelphia.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Review letters of intent, lease proposals, and lease drafts to ensure feasibility of lease related construction projects
- Prepare preliminary budget estimates, developing detailed schedules and budgets to ensure completion in accordance with the lease and also prepares periodic summary and variance reports throughout the construction period
- Project management responsibilities include, but are not limited to, the following:
- Review plans and construction drawings for accuracy and value
- Assist and manage the third-party property management team in charge of the following:
- Administer bid process
- Conduct pre-construction kick-off meeting
- Distribute building rules and regulations
- Monitor all aspects of construction (scheduling, budgeting, and communications) to ensure quality completion on-time and on-budget
- Advise and support engineers in overseeing work performed/contracted by tenants
- Ensure that property engineering (MEP’s) are completed as necessary on all projects
- Maintain a project file for each construction job with relevant documentation
- Support move-in process as necessary
- Ensure each property receives all close-out materials and follow up on survey issues in conjunction with other team members
- Approve payment of invoices as appropriate based on project plan, escalate where necessary and provide communication to appropriate management
REQUIRED EDUCATION & EXPERIENCE
- Must have minimum 10 years of experience in the construction industry
- Bachelor’s Degree required
- A strong comfort level with Microsoft Office, familiarity with project planning software, and the ability to quickly learn new computer systems is required
- Excellent oral and written communication skills with the ability to interact with company personnel at all levels
- Ability to multi-task and prioritize is necessary
- A strong work ethic, the strength to thrive in a dynamic and demanding work environment, and an ability to meet critical deadlines
Managing Director, Development
Our client develops, acquires and operates high-quality apartment communities in desirable locations coast-to-coast. While they are a national company, they pride themselves on their ability to immerse themselves in their chosen markets – in other words, living and working in the communities where they operate. They combine deep understanding of each market with 30+ years of expertise and a fresh innovative approach to the apartment industry, to build relationships and places in which people thrive – creating real and enduring value for their residents, investors and associates.
The MD will lead all development activities for the Phoenix region. This entails the sourcing and execution of the development pipeline, including the pursuit, diligence, and acquisition of new development opportunities, managing the design process, reviewing each phase of the construction process and coordinating site specifications. Essentially, executing the development process from land acquisition thru stabilization while running the Phoenix office.
- Identifies development opportunities then executes and manages the pre-development feasibility assessment, acquisition, design, development, asset management and eventual disposition of the property.
- Oversees the development and construction of a property, including negotiating land contracts, entitling sites, developing budgets, and developing construction schedules.
- Ensures current cash flow and long-term market value of existing assets is maximized.
- Maintains relationships with brokers, land sellers, homebuilders, and investors.
- Interviews, hires, trains, and supervises Development Associates.
- Participates in Company-provided training such as fair housing, safety, non-discrimination, and harassment prevention.
- Complies with all Company National Standards, applicable health and safety rules and regulations, as well as applicable local, state, and federal laws.
- Ensures strict compliance with plans and communicates to the Senior Managing Director any critical issues.
Qualifications for consideration:
- Minimum of eight years of experience in Multi-Family real estate development that can include acquisitions and/or finance.
- Bachelor’s degree in Business, Finance, Economics, or Real Estate.
Key traits for success:
- Sourcing: A proven track record of sourcing new multifamily development deals in the Phoenix region.
- Network: An established broker and landowner network in the region with a thorough understanding of market changes and forces that influence the organization.
- Work Ethic: Displays self-starting, self-motivated traits and excels in an entrepreneurial environment. Consistently delivers accurate and timely work product and accepts personal accountability for results.
- Composed: Resolves issues while professionally managing business relationships.
- Judgment and Decision-Making: Must have the ability to make sound decisions based on information gathered and analyzed. Consider all pertinent facts and alternatives before deciding on the most appropriate action.
- Intuitive: Understands project scope, purpose and audience; anticipates varying perspectives and inquiries; stays one step ahead of incoming requests based on business instincts.
Regional Vice President, Operations
El Paso, TX
Our client is one of the largest affordable property management companies in the country, with over 37,000 units under management in 17 states.
This position has overall responsibility for the performance and operation of communities and staff in an assigned portfolio averaging 6,000 units. This position will also be responsible for fostering and maintaining a positive relationship between the company and the owner(s) of each of the communities for which he/she has responsibility. The Regional Vice President typically oversees Regional Managers and Area Mangers in the assigned portfolio. He/she is also responsible for maximizing the potential of the communities within his/her region and for assisting in new business development.
Essential Duties and Responsibilities:
- Support and assist Regional and Area Managers in overall management of all communities within the assigned portfolio.
- Responsible for recruiting, hiring, training, supervising, and evaluating Regional/Area Managers within assigned portfolio.
- Build strong on-site management teams and Regional/Area Managers through constant coaching and motivation.
- Achieve the highest possible net operating income through the implementation of effective cost control, revenue maximization and delinquency management plans.
- Work with owners to identify long term property goals and objectives.
- Maintain an effective and consistent program of personal contact (at least weekly) with clients to ensure that daily management of their property is in accordance with their needs, goals, objectives, and direction.
- Identify and analyze issues within portfolio and develop and implement decisions that help the assigned communities achieve the owner’s objectives and that are consistent with company policies and procedures.
- Present yearly financial budgets with the assistance of Regional/Area Managers.
- Effectively disseminate all information and instructions necessary for Regional/Area Managers and the communities to perform their work.
- Monitor achievement of each property against financial objectives utilizing the review of monthly owners’ reports, bi-monthly inspections, and weekly operating reports. Work with Regional/Area Managers to correct unfavorable variances and improve NOI.
- Perform final review of monthly financial statements in a timely manner before sending to clients.
- Assume other responsibilities as assigned.
Education and Work Experience Requirements
- Ten or more years in property/real estate management required.
- Seven or more years in management positions required.
- Knowledge of LIHTC and HUD regulations, previous experience with affordable housing.
- Knowledge of Yardi software.
- Bachelor’s Degree or comparable industry experience required.
- Previous experience with managing housing authority units.
- HCCP or comparable tax credit housing certification required.
- Moderate Real Estate and Management training experience required.
Specific Job Knowledge, Skill and Ability:
- Must be able to demonstrate an ability to understand all aspects of the financial responsibilities of budgeting, reporting, and expense control.
- Strong verbal and written communication skills.
- Ability to plan and prioritize workload.
- Ability to communicate and interact effectively with all levels of management, as well as with the public, clients, potential clients, and outside vendors.
- Strong negotiation skills including ability to resolve conflict appropriately and effectively resolve problems.
- Ability to maintain strict confidentiality and discretion.
- Ability to perform multiple tasks and meet critical deadlines while maintaining accuracy and quality.
Chief Investment Officer / Investment Partner
Houston / Dallas / Austin, TX
Our client is a highly entrepreneurial investment firm that was founded to bring the institutional investment process and discipline to the workforce housing space . They are committed to one asset class; one geography; and pure data and research driven investment analytics.
We’ve been engaged to find an Investment Partner / CIO who will bring significant horsepower in multi-family investment. They will have at least 15 years’ experience in the acquisition and development of multifamily communities. They will lead and execute investment strategies; and help source and develop relationships with capital sources and operating partners.
- 15+ years real estate investment experience – a partner-level executive that brings investment acumen, deal flow, and operating and capital relationships.
- The ability to build a great investment business; and generate exceptional returns through a focused vision and strategy.
- Dedicated background in the multifamily space – ideally focused on workforce communities.
- Acquisition and development experience.
- Based in Texas.
- Cultural fit is critical. Key attributes include a low-ego, entrepreneurial, innovative culture. An underlying attitude that if you put people first, everyone wins; and a passion and desire to support the creation of better communities and cities.
- Excellent leadership and organizational skills; with the ability to monitor processes and prioritize objectives.
- Excellent verbal and written communication and presentation skills; with the ability to communicate ideas, issues, and quantitative analysis clearly, concisely, and persuasively.
- A strong work ethic and ability to meet critical deadlines.
This is an outstanding ground floor opportunity to join a small band of dedicated real estate professionals in executing a two-pronged investment strategy generating superior returns while adding significant value to the housing markets.
Our client is a privately held, fully integrated real estate development and investment company based in the Washington DC metro area. The company was established over 80 years ago and focuses on high quality mixed-use and residential projects. They’ve completed over $3 billion in real estate transactions and developed over 10,000 apartments/homes.
Our client is searching for a Development Associate to join our growing team. The Development Associate will be involved in every aspect of the development process with a focus on the transactional side of the business, particularly analyzing potential development and acquisitions opportunities.
Duties and Responsibilities:
- Conduct due diligence, underwriting, financial modeling and overall project finance.
- Assist in acquiring and entitling multifamily development sites, developable into Class A and AA communities in suburban and urban locations.
- Perform the initial screening of development opportunities to determine if they fit with the company’s objectives, with a focus on the Mid-Atlantic region (Maryland, Pennsylvania, Northern Virginia).
- Analyze transactions to ensure fit with investment criteria. Prepare investment summaries.
- Provide full transaction due diligence, including cash-flow analysis (IRR, cash-on-cash, waterfalls, draw schedules, debt sizing), site inspections, and sales projections.
- Facilitate financing for construction and permanent loans including preparation of debt books, negotiations with banks, coordination with outside consultants and review of loan documents.
- Oversee and monitor current and future investments as required. Update financial projections throughout project duration. Reconcile project costs against development budgets, maintain development models for existing projects, report on project performance.
- Write term sheets for new acquisitions, financings and equity partners, if any.
- Review term sheets, loan documents and operating agreements to ensure that they reflect the correct business terms; monitor for compliance.
- Correspond with third parties (brokers, lenders, consultants, etc.).
Skills and Qualifications:
- Minimum of two to five years of experience.
- Excellent financial modeling, writing and presentation skills; effective negotiation skills.
- Skilled in real estate underwriting and financial analysis; development is a plus.
- Ability to understand the investment risks and methods to mitigate the risks in structuring investments.
- Excellent due diligence, analytical, negotiating, structuring and financial skills required.
- Ability to multi-task, problem solve and work independently with minimal guidance.
- Capable of successfully integrating within client’s culture.
- Team player, comfortable working in a fast paced, entrepreneurial environment.
- Ability to work independently with minimal guidance in addition to being team oriented.
- Strong desire to pursue a long-term career in real estate.
- Proficient in Excel.
- College degree required from a top school.
Vice President of Acquisition and Development
Our client is a privately held, fully integrated real estate development and investment company based in the Washington DC metro area. The company was established over 80 years ago and focuses on high quality mixed-use and residential projects. They’ve completed over $3 billion in real estate transactions and developed over 10,000 apartments/homes.
DUTIES AND RESPONSIBILITIES:
- Primary corporate responsibility for the identification of land acquisition opportunities in designated geographic markets in Mid-Atlantic region (Maryland, Pennsylvania, Northern Virginia, New Jersey). Land categories include: Multifamily (Class A and AA apartments); Suburban master-planned communities (100 to 250 acres) and Urban mixed use
- Access municipal planning officials, landowners, broker network
- Negotiate land acquisitions on behalf of the client
- Spearhead land entitlement and municipal development approval process through building permits
- Participate in the design (architectural and engineering) of new multifamily product in conjunction with corporate development and construction teams
- Identify existing apartment communities with value added opportunities in designated Mid-Atlantic geographic markets
- Report to President/ CEO
SKILLS AND QUALIFICATIONS:
- Academic: College degree required; MBA or graduate degree with real estate concentration desirable
- Minimum of four to six years acquisitions and development experience with a developer of Class A/ AA apartment communities
- Must demonstrate superior multifamily land acquisition skills and recent experience (specifically Maryland); must have acquired multifamily land in multiple markets within the past 24 months
- Must be able to evaluate market criteria and define acquisition opportunities based on these criteria
- Has successfully led multi-task process of land entitlement and development through municipal approval process: Coordinate third party allied professionals i.e. land use and real estate attorneys, architects, civil and other engineers, market analysts, government officials and coordinate corporate feasibility analysis i.e. financial proformas
CHARACTERISTICS AND TRAITS:
- Must thrive on working independently on identifying land/ real estate acquisition opportunities with self-initiative and rigor
- Must be relentlessly tenacious, tempered with a positive, friendly attitude
- Must be innovative and be able to think “outside of the box”
- Must be proactive in establishing the right contacts in each market to identify new acquisition opportunities before they reach the market
- Must be polished, articulate with the “gift of gab” essential for networking opportunities
- Must be a dynamic team player
Our Client is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. Their portfolio includes over 60 million square feet nationally.
ESSENTIAL FUNCTIONS: Formulates, recommends and implements investment strategy for the region. Directs and coordinates broad activities toward achieving organizational objectives in accordance with company policies.
- Thoroughly understands the dynamics of the market that are relevant to the successful execution of the company’s strategy and the business plan for each regional investment, including market characteristics, trends and participants.
- Partners with other members of the regional team in the origination, vetting, underwriting, due diligence investigation and presentation for approval of investments to the Investment Committee and, if necessary, the Board of Trustees.
- Responsible for managing the execution of acquisition transactions by the Vice President, Investments.
- Sources quality development opportunities and provides transaction details to development team.
- Assists with the identification of real estate acquisition and disposition opportunities, utilizing networks and prospects through direct contact with tenants, property owners, brokers, developers and other real estate related professionals.
- Assists the Chief Investment Officer in preparing short and long-range plans. Ensures that budgeted goals are achieved and cost objectives are met.
- Hires and monitors efforts of brokers to assist in opportunity creation and transaction closure.
- Networks and prospects for investment and development opportunities through direct contact with the tenant, competitor, brokerage and development communities.
- Coordinates transactions including monitoring the due diligence and approval processes.
- Presents oral and written presentations of transactions before the Investment Committee, Asset Allocation Committee and Board of Trustees.
- Screens, underwrites and structures acquisition deals that meet company investment objectives.
- Ensures a smooth transition of the investment asset to property operations.
- Develops and maintains external relationships appropriate to the successful execution of the company’s strategy and the business plan for investments.
- Pursues self-development training as directed by the Chief Investment Officer.
- Effectively develops and manages staff to successfully discharge assigned responsibilities:
- Complies with performance evaluation, personnel development, and other processes established by the Human Resources department;
- Promotes the training and development of current employees;
- Participates in the establishment of strategic objectives to ensure direct alignment with department goals;
- Acts in accordance with the values of the company and observes the work principles and guidelines for communication set forth in “Who We Are.”
- Complies with all company processes and procedures.
- Completes other duties as assigned by the Chief Investment Officer.
- Bachelor’s degree in related field; Master’s degree preferred
- 5-15 years of established real estate transactional experience and technical commercial/industrial real estate knowledge, demonstrating superior:
- Initiative and commitment to excellence
- Extensive leasing experience
- Analytical ability and sound judgment
- Financial acumen
- Negotiation skills
- Presentation skills
- Written and oral communication ability
- Excellent organization
- Ability to build strong and collaborative relationships
- Ability to lead and manage others
- Absolute integrity
- Strong knowledge in industrial development
- Strong reputation with the broker community and well respected in the industry
- Comfortable with computers and proficient in standard corporate operating systems and software
- Analytical and technical proficiency in all aspects of investment acquisitions and deal making, including financial analysis, is required
- Ability to manage elevated stress levels periodically; can work under an active and intense environment
- Is physically capable of climbing structures and ladders and can survey building systems as well as face other environmental issues as they arise throughout the year
- Flexible with respect to work schedule; able to travel weekly or when needed
Director of Capital Improvements
Our client is an old-line privately held multifamily investment firm that owns and manages apartment communities, predominately in the Western US. The company is one of the top 100 apartment owners in the country, operating 8800 units today and looking to grow significantly over the next 3 to 5 years.
The Director of Capital Improvements, based in Denver, CO will coordinate and lead capital projects across the portfolio. The Director of Capital Improvements will be an integral part of the acquisition team conducting due diligence on new acquisitions and executing value add strategy upon closing. They will report to the Chief Operating Officer.
- Manage the creation of portfolio wide multi-year capital improvement plans for the purpose of understanding and preparing portfolio long-term budgets.
- Supervise capital improvement teams nationwide; collaborate with regional property managers on the completion of new, ongoing and reoccurring projects.
- Develop specifications for repair and modification projects as assigned (specifications, permits, project schedules, cost analysis, purchasing/bid time and construction, etc.) for the purpose of providing them to architects, contractors, specialists, construction management firms, etc. for selection and awarding contracts.
- Participate in acquisition / due diligence process including unit inspections and vendor meetings, as requested.
- Coordinate and monitor capital activities (e.g. renovations, inspections, contractor and architect meetings, permitting activities, finalizing projects, calendars, mandates reports, change orders, etc.) to ensure that all phases of capital projects are completed within company specifications and budget expectations and with minimal interruption to the site personnel.
- Evaluate existing communities’ condition for the purpose of determining necessary capital needs and asset ongoing maintenance.
- Inspect all aspects of building structures (e.g. exterior, interior, walls, electrical, roof, concrete, paint, etc.) to ensure compliance with specific plans, specifications and local codes and ordinances.
- Maintain project files and records for the purpose of providing up to date reference and complying with regulatory requirements and established guidelines.
- Familiarity with job cost systems to accumulate information on direct materials, direct labor and overhead costs.
- Prepare written materials for the purpose of documenting activities, providing written reference and/or conveying information.
- Recommend procedures and/or actions related to capital projects or asset in general to provide information and/or suggestions regarding decisions that may be necessary to improve safety procedures of the capital program and potentially mitigate community risk.
- Respond to inquiries (e.g. community team, senior management, administrative staff, local inspectors, contractors, architects, the public, etc.) and provide required information to appropriate source.
- REAC Inspection participation through pre-inspection, unit walks, and ensuring work item completions prior to inspection date. Also participate in actual REAC inspections.
- Renovation participation; coordination and scheduling general contractors and all vendors involved with unit renovation process.
- Coordinate and collaborate on scopes and walk units for completion prior to turnover to property on site team.
- Participate in weekly / monthly status calls and meetings and provides monthly status reports.
- Travel, as necessary for assigned projects. Could be as much as 50% at times.
- Perform other related duties as assigned for the purpose of ensuring the efficient and effective functioning of the work unit.
SKILLS, EDUCATION AND EXPERIENCE:
- College degree or coursework in business or the hospitality / property management industry is beneficial.
- A minimum of three to five years of multifamily project management experience required.
- Must possess excellent written and verbal communication skills.
- Experience with Yardi and Ops Technology systems are a plus.
- Must be detail and multi-task oriented and possess strong customer service and time management skills.
- Decision-making ability and a professional image necessary.
Senior Vice President
Our client is a well-established, privately-owned REIT based in South Carolina. Over the last century, they have acquired experience in a multitude of industries including hospitality, golf, master-planned development, tourism attractions, commercial leasing and shopping center development. Their carefully developed strategic plan places a high priority on owning and managing a best-in-class portfolio of experiential retail properties in selected markets throughout the Southeast.
The Senior Vice President will lead the team responsible for the entire commercial real estate business, including all leasing, development, acquisitions, and property management functions of a portfolio that includes both single and multi-tenant retail and office properties. The team consists of 15 employees, 5 of which are direct reports to this person.
- Strategic planning
- Develop commercial business unit’s strategic plan and contribute significantly to the company’s strategic planning process.
- Deal sourcing and execution
- This includes working side by side with the team on acquisition opportunities in addition to development and leasing deals. This person will oversee the team doing the underwriting and execution and ultimately be responsible for every deal. This person will need to have a track record of cradle to grave execution, including total responsibility for purchase and sale agreements, leases, operating and construction contracts.
- Team management skills
- Responsible for managing team members including establishing goals, incentive plans, etc.
- Financial acumen
- Ability to underwrite real estate transactions and evaluate various business models.
- Communication skills
- Strong oral and written communication skills. This person will be responsible for presenting business unit results at quarterly board meetings, regular presentations to shareholders, investors, brokers, and tenants. They will also write and present investment briefs to the Board of Directors, etc.
Multi-Family Acquisitions Officer
Our client is a dynamic real estate private equity investor with a multi-sector investment platform. The Company focuses on the acquisition and ownership of value-add multi-family, value-add office and net leased Corporate Headquarters facilities. The Company has acquired or built 4.5M SF of office, medical office, industrial, retail, and data center projects; plus 4,000 units of multi-family, condominium and assisted living properties in 37 investments. They are vertically integrated and self-manage a national portfolio of apartment properties on behalf of their institutional investors, family offices and financial institutions.
Our client is seeking a Director of Multi-Family Acquisitions who will be responsible for sourcing, acquiring, underwriting and closing numerous multi-family deals annually. The client’s culture is fast-paced and requires the ability to effectively prioritize and manage multiple initiatives simultaneously in order to meet desired growth objectives. The ideal candidate will be someone who is excited by this high-energy, entrepreneurial environment, while at the same time, exhibiting the polished demeanor of a seasoned professional with well-established relationships nationwide.
PRIMARY JOB RESPONSIBILITIES:
The Director of Multi-Family Acquisitions will directly source deals (on and off market) by utilizing their existing network and developing new relationships.
- Uncover emerging growth areas and source investment opportunities in markets with positive fundamentals.
- Responsible for the financial analysis of each potential acquisition through preparation and analysis of proforma financial models and supporting documentation.
- Develop the investment thesis and underlying business plan for each acquisition.
- Analyze current market trends, economic data and develop market knowledge to provide input for investment strategy development.
- Track / monitor current trends in both the debt and equity markets.
- Oversee the preparation of internal investment committee presentations.
- Present potential investment opportunities to the investment committee.
- Generate offers for investment opportunities, negotiating and executing LOI’s and PSA’s with prospective sellers.
- Assist with the due diligence process including review of legal documents, third-party reports and other materials, as required.
- Bachelor’s Degree from a top-tier university, MBA preferred.
- Minimum 10 – 15 years of successful multi-family acquisitions experience (with a proven deal sheet).
- Self-motivated, hard-working, and flexible. Ability to work as part of a team.
- Excellent interpersonal and relationship skills.
- Experience in the sourcing, underwriting, and closing multi-family investment transactions and financings.
- Established network of broker, owner and institutional relationships to facilitate sourcing apartment deals.
- A sound understanding of the capital markets.
- Strong financial background and expertise with financial modeling.
- Experience in transaction due diligence and management of the closing process.
- Flexibility in competently managing multiple priorities and changing expectations.
- Conscientious and high attentive to detail.
- Possesses strong transaction management experience and organizational skills.