This position will support all aspects of the New England regional operation. The ideal candidate has been exposed to various facets of the development product cycle including project management, finance, acquisitions, assemblage, land use, design, construction management and marketing. The Development Project Manager will work directly with and support the existing pipeline and pursuits for the region. The Development Project Manager is expected to learn quickly and contribute meaningfully from day one. It is anticipated that the Development Project Manager will grow organically within the region, division or company, becoming an integral member of the organization and capable of running deals.
The ideal candidate has excellent analytical skills and is well versed in the underwriting of multifamily development transactions.
- Manage and oversee project design and strategy meetings. Oversee construction and potential “owner’s rep” coordination with contractors.
- Manage local and State permitting processes including coordinating with consultant teams and public officials
- Underwrite and first-pass due-diligence on a variety of new development transactions
- Prepare and maintain complex pro forma models. Independently construct and analyze financial models to evaluate a variety of opportunities utilizing Excel spreadsheet models.
- Assist in preparing offering memorandum packages used in the solicitation of Equity Investor commitments and Debt Financing (permanent and construction).
- Participate in due diligence process, including managing consultant and municipal documentation review and preparation.
- Assist in project management and administration including processing monthly draw requests, leveling consultant bids, reviewing legal documents, and furnishing information, applications, and reports to public agencies, third parties, investors, and financiers.
- Prepare and update cash flow projections for each asset, using Excel, to support potential leasing, redevelopment, refinancing, and/or disposition scenarios.
- Market Research: Conduct periodic comparable property sale and leasing studies and specific research to support investment decisions.
Our client is one of the largest private U.S. multi-family companies with offices throughout the West, Southwest, South-Central, Southeast, Mid-Atlantic and Northeast. The company has invested in more than $10 billion worth of real estate and manages a $15 billion portfolio with a focus toward superior local leadership and a comprehensive national support structure.
- BS/BA and strong academic record.
- Minimum of 5 years of experience in processing multi-family development. Significant financial analysis and underwriting experience required; working knowledge of New England/Boston submarkets.
- Experience managing a design development team and owner’s representation during construction including coordinating RFIs, change orders, and other processes between contractor and design team.
- High level of proficiency in Microsoft Excel, Word, PowerPoint required.
- Experience analyzing multifamily development including understanding of JV equity/partnership structure. Relevant experience with additional real estate project types considered i.e. office/hotel/retail.
- Knowledge of budgeting, underwriting, due diligence, asset and portfolio valuation, discounted cash flows, and analysis of financial statements are required.
- Strong interest in real estate development.
- Excellent analytical and quantitative skills.
- Excellent organization and project management skills
- Results-oriented with strong attention to detail and ability to produce quality work in a consistent manner.
- Ability to present work in a concise, complete, and easily digestible manner.
- Self-starter who has the ability to learn quickly, work independently and contribute as a team member.
- Ability to complete multiple tasks with minimal guidance in a fast-paced entrepreneurial environment.
- Ability to prioritize and handle multiple tasks simultaneously, organize and coordinate work efficiently, set priorities, and meet deadlines in a demanding work environment.