Active Searches

Position Description:

ESSENTIAL FUNCTIONS OF THE ROLE:

• Maintain complete oversight of the private portfolio of LLC assets which was formed in 2015 in a rollup under the parent company in order to maximize the value and provide the best returns to the investors.
• Responsible for the investment performance, reporting, and strategic direction for the current and future portfolio.
• Develop strategy and business plan for each asset including capital raising, operational overviews, complete analysis of how assets complement the overall portfolio, and execution of the plan. Create and oversee the business plan for each property, which should address the overall investment strategy for the asset, how it fits the firm’s portfolio objectives and include strategies to increase property cash flow and/or value.
• Conduct detailed analysis of every asset owned by the LLC. Review and approve annual operating and leasing budgets, and conduct a mid-year reforecast for each project to include all revenues, expenses, and capital expenditures.
• Lay groundwork to set policies, standardize procedures and establish best practices for the portfolio. Develop and manage the implementation of asset strategies and operational initiatives aimed at maximizing values in the portfolio.
• Develop immediate snapshot analysis of the portfolio. Create and present detailed financial analyses to support recommendations and decision making for capital expenditures, leasing activities, or other strategic initiatives as needed.
• Identify new opportunities for portfolio investments, including acquisitions/dispositions and development.
• Think critically about the future growth of the portfolio and how it relates to the parent company.
• Work with the finance team on refinancing and restructuring strategies.
• Conduct review of all third-party service provider performance and cost.

SKILLSET:

• Solid grasp and demonstrated experience with real estate finance. Strong valuation, due diligence and real estate financial analysis skills. Strong understanding of commercial real estate concepts, underwriting and valuation techniques.
• Asset management/portfolio management experience including market analysis skills to support decisions concerning competitive positioning, rental rates, capital improvement programs, leasing strategies, and property repositioning.
• Experience and understanding of how to operate and analyze prospective transactions that fit into the portfolio.
• Strong analytical skills including Excel and Argus.
• Deep understanding of real estate operations and oversight of the operating portfolio. In-depth understanding of property operations, marketing, and leasing.
• Analytical knowledge and understanding of development and acquisitions activities.
• Capital raising and investor relations exposure.

QUALITIES:

• Collaborative team player with humble personality and strong sense of personal motivation and responsibility.
• Entrepreneurial mindset. Conscientious and self-directed with the ability to work both independently and collaboratively with teams.
• Clear communicator with excellent presentation skills to be able to 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.
• Ability to juggle many deals at once in various stages of lifecycle.
• Comfortable with doing a little bit of everything and creating own day to day responsibilities.
• Self-starter with solid work ethic. Independent, solution-oriented, and creative thinker.
• Strong desire to lead and mentor in the future.
• Established relationships with brokers and owners in the Carolinas are preferred.
• Excellent verbal and written communication, interpersonal, and presentation skills.
• Excellent organizational and planning skills with sharp attention to detail.
• Ability to work accurately and efficiently with an ability to succeed under tight deadlines.

To learn more about this position, contact: Matt McAulay | 704-770-6110 | mmcaulay@crownsearch.com

Position Description:

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

To learn more about this position, contact: Matt McAulay | 704-770-6110 | mmcaulay@crownsearch.com

Position Description:

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.

 Responsibilities include:

• 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.

To learn more about this position, contact: Chad Metz | (412) 348-1542 | cmetz@crownsearch.com

Position Description:

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.

To learn more about this position, contact: Natasha Brill | (786) 216-7281 | nbrill@crownsearch.com

Position Description:

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.

RESPONSIBILITIES:

• 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.

KEYS:

• 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

To learn more about this position, contact: David Fischer | (770) 727-0299 | dfischer@crownsearch.com

Position Description:

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.

POSITION REQUIREMENTS:

• 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.

To learn more about this position, contact: Margie Arcangelo | (239) 362-1335 | margie@crownsearch.com