Managing Director of Development, Southeast Region
Atlanta, GA or Charlotte, NC
Our client is a vertically integrated real estate investment firm focused on the U.S. residential sector. Since 2011, the firm has invested more than $4.5 billion across more than 28,000 multifamily and student housing units nationwide and is currently expanding its acquisition and development activities in the Sunbelt region. The firm has more than 90 professionals in five offices throughout the United States; Atlanta, Georgia; Boca Raton, FL; Charlotte, NC; Dallas, TX; and Phoenix, AZ.
Our client is looking for a senior, experienced, and hands-on Managing Director (“MD”) to manage the Company’s activities in the Greater Atlanta, Southeast Region. The MD will be responsible for the sourcing and origination of regional development transactions, including coordination and communication with venture partners and will manage the Company’s efforts to identify, process, and close new development transactions; and play an active role in the management and disposition of completed developments.
- Source new development opportunities through developing and maintaining relationships with key stakeholders including brokers, consultants, land sellers, capital markets team members, lenders, etc. to identify feasible, financeable, and profitable new initiatives.
- Develop, manage, nurture and collaborate with landowners, brokers, lenders and other deal source networks; maintain productive relationships with architects, attorneys, engineers, government officials, vendors and community partners to originate multifamily projects.
- Manage the pre-entitlement/entitlement process by maintaining accurate pursuit cost forecasting and reporting and implement and execute programs and processes to ensure pro-forma development budgets, underwriting, schedules, quality, and standards are met and completed in accordance with adopted corporate policies.
- Assist in the negotiation of legal instruments including contracts, easements, term sheets, loan documents, joint venture agreements, municipal agreements, joint development agreements, etc.
- Lead regional team meetings and calls, keep team members informed about status of new development work, and actively work with the team on new business development, and other RFPs.
- Accountable for coordinating work activities, ensuring open communication between consultants and regional project team members, capital markets team members, corporate executives and lenders as needed.
- Manage and maintain a pipeline of land for new development.
- Knowledge and involvement in current multifamily deal flow in the Southeast; deep and broad experience in multifamily development and new construction, including market and sub-market familiarity with the demand drivers supporting the growth, together with prior entitlement experience and a solid understanding of construction means and methods.
- Highly motivated and entrepreneurial in approach to creating and sourcing new development opportunities. Thrives in competitive situations and approaches tasks with a persistent edge toward successful implementation.
- Ability to creatively solve problems and overcome development challenges in high barrier to entry market.
- Follows procedure and protocol. Focused level of attention and concentration to the tasks at hand.
- Ability to work independently with minimal supervision.
- Willingness to travel.
- Effectiveness of both written and verbal skills. Communicates and/or understands instructions, sells ideas, obtains acceptance and action. Accurately informs supervision and subordinates of important developments.
- Ability to understand and explain economic and accounting information, prepare and manage budgets and make sound long-term investment decisions.
- Demonstrates resourcefulness and independence in carrying out responsibilities and assignments.
- Enables success in both employees and peers through mentoring, coaching and decisive administration.
- Makes systematic use of organizational systems and processes. Takes an organized, logical approach to thinking through issues.
- Regularly exercises independent judgment and decision-making to resolve day-to-day operational issues.
Skills & Abilities:
- Bachelor’s degree or equivalent experience required. MBA or Master’s degree preferred.
- 10+ years of multifamily real estate development experience along with knowledge of development best practices.
- Demonstrated ability to create and execute successful projects completed on schedule, on budget and with high quality and significant community impact.
- Strong negotiating and collaboration skills as well as sound political judgment.
- Strong ability to problem solve and multi-task in fast paced environment.
- Demonstrated ability to read, write, negotiate, and communicate effectively, to comprehend and/or complete legal contracts, loan documents, financial spreadsheets, to create and make presentations to Executive members and lenders, and to draft internal Investment Committee Memoranda and contribute to the production of Private Placement Memoranda. Demonstrated ability to read and comprehend architectural, structural engineering and civil engineering plans.
- Demonstrated success working in a team-oriented setting, and interacting with multiple departments (Development, Construction, Asset Management, Property Management, and Capital Markets) that provide functional expertise and insights toward proper product positioning.
- Demonstrated management and supervisory skills sufficient to lead, direct, evaluate, and mentor subordinate and peer employee staff, as well as consultant teams.
- Demonstrated high proficiency in Microsoft Word and Microsoft Excel to complete required reports.