Senior Vice President of Multifamily Real Estate Development

3 weeks ago


Reston, Virginia, United States Career Options Recruiting Solutions Full time

Senior Vice President of Multifamily Real Estate Development

Career Options Recruiting Solutions is seeking a seasoned multifamily development executive to lead and grow its existing multifamily development platform in the Utah market. The ideal candidate will have at least 10 years of proven experience in all aspects of multifamily development, with deep relationships with brokers, consultants, contractors, and property managers in the Utah multifamily development community.

The Senior Vice President of Multifamily Development will be responsible for site selection, acquisition, design, entitlement, underwriting, finance, construction management, marketing, lease-up, operations, and disposition. They will also lead the Multifamily Business Line, refine assumptions, execution strategies, deal parameters, underwriting requirements, deal sourcing, resources, and capital strategies.

The successful candidate will have a Bachelor's degree, preferably with a concentration in real estate economics, business, engineering, construction management, or architecture. A Master of Business Administration degree with a concentration in real estate, business, or finance is also preferred. They will have 10+ years of relevant work experience in multifamily real estate development, with 5+ years in the SLC market. Financial modeling experience at a senior level is required, as well as experience in project and construction management.

The Company's strategic advantages in multifamily development include a track record of delivering significant returns for investors, the ability to raise debt and equity through additional sources to finance all available projects, and the ability to fund significant predevelopment expenses prior to securing debt and equity sources.

Key Responsibilities:

  • Site selection, acquisition, design, entitlement, underwriting, finance, construction management, marketing, lease-up, operations, and disposition
  • Lead the Multifamily Business Line, refine assumptions, execution strategies, deal parameters, underwriting requirements, deal sourcing, resources, and capital strategies
  • Develop and execute an acquisition and development strategy
  • Prepare business plans for projects under contract, including detailed budget, schedule, program, market, and risk analysis
  • Manage a small team of individuals to complete the work, including hiring, if needed, a Development Manager and/or Development Associate
  • Work with the acquisition manager to source development opportunities, including drafting and negotiating LOI's and purchase agreements
  • Coordinate acquisition efforts with the existing retail development team in Utah for potential horizontal and vertical mixed-use developments
  • Direct the entitlement process, work effectively with city staff and elected officials, and follow development codes
  • Coordinate closely with the Construction Manager and Design Consultants to approve all design, program, and construction issues as they relate to the business plan
  • Support financing efforts with the existing Capital Team by providing underwriting and debt and equity packages for new opportunities
  • Manage marketing plan development, lease-up, and operations
  • Coordinate disposition efforts with the Managing Principal and Capital Team
  • Responsible for the financial reporting of the Business Line profit/losses at the quarterly Business Line Reviews with the Managing Partners, CFO, and COO

Requirements:

  • Bachelor's degree, preferably with a concentration in real estate economics, business, engineering, construction management, or architecture
  • 10+ years of relevant work experience in multifamily real estate development
  • 5+ years in the SLC market in Multifamily Real Estate Development
  • Financial modeling experience at a senior level is required
  • Experience in project and construction management


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