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Our client is a NYSE traded public REIT that focuses on the acquisition, development, and management of Class A commercial properties across the country. Based in Washington, DC and under the supervision of the Chief Operating Officer and Managing Director (MD) of Asset Management, the Chief Engineer job duties include, but are not limited to: reviewing plans and advising on mechanical plant issues during development, assisting Asset Managers with property inspections, cataloging building equipment, developing long-range capital plans, oversight of complex capital investment projects, providing guidance on repair/replacement decisions, and serving as a subject matter expert to on-site personnel.
PRIMARY DUTIES AND RESPONSIBILITY:
- The Chief Engineer will serve as a subject matter expert for the Asset Management Team by providing technical expertise in matters related to mechanical systems and building operations for a portfolio of properties in the Eastern half of the United States
- Works collaboratively with the MD of Asset Management and Asset Managers to help achieve portfolio financial objectives and operational consistency
- As required, assists other departments, including Property Management, Accounting, Acquisitions, Development, and Corporate Finance in support of their operations to achieve corporate objectives
Strategic Capital Planning
- In coordination with the MD of Asset Management and other engineering staff, develop multi-year capital investment plans for each assigned building
- Annually, as part of the budget formation process, assist Asset Managers with the development of capital budgets for each assigned building
- In coordination with Asset Managers, conduct physical inspections of assigned portfolio of buildings
- In coordination with on-site personnel, generate equipment lists and catalogue specific operational information for all major mechanical equipment at each assigned building
- Serve as a technical advisor / subject matter expert to Asset Managers and on-site personnel when troubleshooting operational issues
- Review mechanical vendor contracts and ensure scopes of work achieve operational and budget objectives
- Assist Asset Managers in identifying options for repair / replace decisions, and review specifications / scopes of work for replacement equipment
- Assist Asset Managers with the project management of larger, more complex capital investment projects affecting base-building mechanical systems
- In coordination with the MD of Asset Management and other engineering staff, develop, implement, and maintain compliance with OSHA requirements and ensure technical training of building engineers
- Develop and maintain positive relationships with Property Managers, Building Engineers and vendors
- Assist Development Team, as requested, by:
- Participating in project design / construction meetings
- Reviewing building plans
- Providing guidance on equipment selection and operational considerations
- Participating in commissioning activities and final acceptance of the project
- Responsible for training building engineer on the operations of the building prior to tenant occupancy
- Coordinate with vendors to ensure mechanical preventative maintenance scopes of services and schedules meet warranty requirements
Acquisitions and Dispositions
- Assist with review of due diligence materials for potential acquisitions by:
- Reviewing and commenting on third-party Physical Condition Assessments
- Participating, as requested, in pre-acquisition property inspections
- Assist Asset Managers in identifying properties for disposition and preparing any required operational due diligence information for potential dispositions
REQUIRED SKILLS / QUALIFICATIONS
- GED / High School diploma required
- 10+ years of commercial real estate chief engineer / building engineer experience
- Strong understanding of construction techniques, building systems, and equipment operations
- Basic understanding of commercial real estate concepts
- Excellent verbal and written communication skills
- Excellent planning, organization, and interpersonal skills
- Ability to function independently within a collaborative team-oriented setting
- Attention to detail and ability to function under tight deadlines
- Ability to work accurately and efficiently
- Ability to handle multiple projects at one time
- Strong sense of personal motivation and responsibility
- Ability to clear GSA NACI & FBI LBI background checks
DESIRED SKILLS / QUALIFICATIONS
- Undergraduate degree or additional education preferred
- Basic experience using Microsoft Office Suite
- Strong project management skillset
- Experience with programmatic management of capital investment planning
Applicants will work effectively with co-workers, vendors, and others by sharing ideas in a constructive and positive manner; listening to and objectively considering ideas and suggestions from others; keeping commitments and keeping others informed of work progress, timelines, and issues; and addressing problems and issues constructively to find mutually-acceptable and practical business solutions.
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.
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.
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
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.