Contact: Kate Keller
phone: 617-247-0505
kate@kelleraugusta.com

Scope of Activities

• Source land sites for 100% of the Firm.
• Source joint venture development partners through brokers, mortgage bankers, investment bankers, and cold calls.
• Investment analysis of prospective developments – IRR, initial yield, investment return.
• Prepare and negotiate term sheets/LOI with joint venture partners.
• Assist in the preparation and negotiation of partnership agreements.
• Conduct and coordinate due diligence and prepare materials for the Investment Committee.
• Participate in preparation of construction and permanent loan applications to perspective lenders.
• Analyze construction and permanent loan bids in relation to overall project investment analysis.
• Monitor activities during the construction/development phase.
• Work with asset management during the lease-up phase.
• Attend industry meetings such as MBA, ULI and NAIOP.

Essential Duties and Responsibilities

• Orchestrate the sales, marketing, development, construction and management of multiplex commercial developments.
• Disposition planning for sites owned by the Firm and considered for sale.
• Establish parameters for new business park development and manage the site selection process.
• Manage joint venture relationship on certain development projects
• Present strategic alternatives to ownership at Quarterly Meetings.
• Prepare annual budgets, periodic updates and variance reports.
• Interact with group department heads to ensure that development activities are properly coordinated.
• Protect the permits for the Firm’s owned sites where development is not imminent.
• Supervise, motivate and lead project managers, and leasing/sales directors who have day-to-day responsibility for operating developments.
• Once a new site has been identified, negotiate the purchase agreement and manage the due diligence process.
• Make presentations to major potential users.
• Once a new site has been purchased, manage the various moving parts such as building design, target marketing and leasing team.

Supervisory Responsibilities

Manages one subordinate supervisor who supervises a total of 5-6 employees on specific development projects.  Is responsible for the overall direction, coordination, and evaluation of this unit.  Carries out supervisory responsibilities in accordance with the organization’s policies and applicable laws.  Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.

Personal Attributes

• Experience in new flex development from inception through initial lease-up.
• Appreciation of product and pricing issues.
• Ability to sell the Firm’s story to mortgage and investment bankers.
• Ability to achieve quickly credibility with prospective partners.
• Excellent understanding of how the numbers work and sensitivity analysis.
• Ability to make cold calls and gain entry.
• Willingness of frequent travel.

Premise of Position

• The availability of joint venture opportunities is not as efficient as acquisition offerings.  Therefore, the position requires initiating and nurturing industry contacts which are not often highly transparent.

Experience

• Five (5) years experience in new development with significant involvement in at least one commercial development (preferably flex) from inception through initial lease-up.

Education and/or Experience

Master’s degree (M.A.) or equivalent; or four to ten years related experience and/or training; or equivalent combination of education or experience.