Senior Director of Real Estate

Company

Privately held, vertically integrated owner, operator, and developer of commercial real estate with in-house capabilities in development, construction, leasing and property management. Since its founding the company has developed a deep track record in the single-tenant retail, grocery-anchored shopping center and healthcare real estate spaces. Ever-growing, the company’s pipeline pf projects has never been more robust and has expanded its footprint well outside of California.

Location

Sonora, CA at the foothills of the Sierra Nevada Mountains, close to Yosemite National Park

Role

By virtue of its longstanding relationships, the Principal Ownership has developed numerous clients, many of whom are Fortune 500 occupiers. As a result, the company’s pipeline of prospective projects is burgeoning, and therefore need an experienced commercial real estate professional who’ll support the pipeline by leading the successful execution of a large portfolio of commercial real estate investments that are in various stages of their pursuit and development. The ideal candidate will have acute knowledge of retail real estate, and will be adept at underwriting, deal structuring, commercial lease negotiation, pre-development, and transaction closing. In essence, this individual will be the lead ‘Deal Manager’ shepherding the projects from ‘soup to nuts’ and ensuring a smooth handoff to the project managers on the development and construction team while also overseeing its delivery and stabilization. The candidate engages with the brokers, tenants, landowners, attorneys, title companies, bankers, etc. required to finalize purchase agreements and leases critical to the development and more importantly, the successful completion of its numerous projects with the overall objective of ensuring the swift and efficient closing of new real estate investments/projects.

Responsibilities

Daily responsibilities include, but are not limited to:

· Interface and engage with the retail tenants and their brokers to identify markets, trade areas and specific sites of interest to the respective tenant. Maintain effective relationships with tenants and brokers based upon trust, integrity, and ability to execute.

· Underwriting of existing and potential retail developments through financial modeling in Excel, i.e. creating and maintaining detailed financial analyses to evaluate prospective investments and across the existing development portfolio. Work with CFO on Pro-forma’s, Budgets, etc. on proposed projects.

· Perform detailed market research on supply/demand fundamentals, economic trends and comparable investments.

· Support the Principals by leading due diligence (e.g. reviewing leases, contracts, historical operating statements, third party reports etc.), financing, and closing of new acquisitions, and refinancing and sales of existing assets.

· Perform ad-hoc financial analysis on short notice to aid in ongoing investment and strategic decision making.

· Lead the site selection process: Negotiate and execute suitable contracts to acquire the sites with appropriate timeframes to obtain tenant approvals, executed leases and necessary entitlements prior to closing. Participate in the review and oversight of the critical dates in executed contracts and leases as well as monitor tasks required through the closing process.

· Lead the site evaluation: Lead the creation of accurate and thoughtful budgets including monitoring the actual costs in comparison to the established budget. Similarly, lead the initial site planning process to develop initial site plans that meet the needs of the tenant(s) as well as the requirements of the critical governmental agencies. Lastly, oversee the due diligence efforts to provide the requisite input on potential obstacles to the project’s development.

· Once the interest in the site is determined, work with the team to determine the entitlement as well as financial viability of the project through the site investigation, budget and proforma process.

· Track and close-out open items, oversee cost estimates at each design phase, oversee value-engineering efforts, and ensure that all creative and feasible solutions are considered to deliver a successful project on-time and on-budget.

· Title and Escrow Activities - Coordinate with Title and Escrow Agencies and Staff and Review, Comprehend and Manage the following items:

· Preliminary Title Reports.

· Underlying documents to Title Reports.

· Lease Agreements

· Closing Documents

· Loan Documents

· Promissory Notes

· Deeds of Trust

· Phase 1’s

· Phase 2’s

· ALTA Surveys

· Real Estate and Legal Activities - Coordinate with Attorneys, Real Estate Brokers and Staff and Review, Comprehend and Manage the following items:

· Review and aid in the execution and administration of Land Purchase Agreements, Letters of Intent, Contracts, Lease Agreements with clients/tenants and other legal documents.

· The administration of lease work letter agreements, taxes, insurance, tenant delivery packages, rent commencement letters, etc.

· Development and fostering of relationships between company and national/retail clients.

· Review and approve consultant invoices.

· Direct the development of business plans and objectives, marketing, leases and sales plans along with investment strategies for each asset’s operation and capital improvements. This includes budgets, forecasts, performance reporting, timelines, and management plans.

· Work with local municipalities by attending meetings, negotiating, advocating on behalf of the project and making presentations at public meetings.

Qualifications

· Bachelor’s degree, specializing in Business and Finance.

· >5 years of proven retail real estate transaction management experience.

· Knowledge of standard computer software such as Word, Excel, Google Suite, SmartSheet, & PowerPoint.

· Ability to review, negotiate and finalize legal documents such as purchase agreements, leases, REA’s and ECCR.

· Conscientious and detail-oriented with the ability to produce accurate and timely reports, legal documents, and results.

· Cognizant of situations where supervisors need to become involved.

· Strong time management and prioritization skills.

· Strong analytical skills along with the ability to present in a clear and concise written or verbal format.

· Strong communication and interpersonal skills especially effective persuasion and motivation skills to influence tenants, Sellers, and other industry professionals in order to finalize a mutually beneficial transaction.