CAREER OPPORTUNITY - IMMEDIATE HIRE!
Land Acquisitions Director
MRINetwork is currently conducting a search for a Land Acquisitions Director.
About the Company:
Our client has been in business for over 30 years and is a Class A Multifamily Development company right in the center of Dallas-Fort Worth. Their reputation remains true to the belief that strong relationships with everyone from clients to subcontractors is the key to their success. With offices throughout the Midwest and hundreds of projects completed throughout the country, and more than 4000 multi-family homes under construction in the DFW Market, they are one of the most respected general contractors in the United States and is consistently recognized as one of the fastest growing and highest quality contractors in the country.
The position will have a focus on the Los Angeles and surrounding sub-markets, and reports to the Vice President, Area Development Partner located in San Diego, California who is responsible for land acquisition and project entitlements for the Western Region. This position will be responsible for sourcing and acquiring new multifamily development opportunities and ensuring the Business Plan production targets are met. This position will work closely with Development Analyst, Development Associate, Development Manager, Vice President and Senior Vice President roles to develop appropriate deal pipeline.
Essential Duties and Responsibilities:
Source New Deals
- Responsible for sourcing new deals in the Los Angeles and surrounding submarkets to fill approximately one-half of the regions business plans goals.
- Research development opportunities.
- Cultivate relationships with Broker Community.
- Direct source development opportunities through strategic avenues.
- Direct, review, and confirm underwriting from Development Associates/Analysts.
Gain Control of New Sites
- Prepare and submit letters of intent.
- Negotiate and secure main economic terms with land sellers.
- Lead land purchase contract preparation, negotiation, and execution.
- Ensure that all aspects and obligations of land purchase contracts are met appropriately.
Investment Committee Approval
- Lead the development of investment packages and pitches for presentation to the Investment Committee.
- Manage and verify/confirm all aspects of underwriting analysis.
- Assist in the oversight for the creation and preparation of power point presentation for Investment Committee.
- Create the investment vision and ensure vision is accurately translated through the Investment Committee presentation.
- Train, manage, and verify analyst’s efforts in tracking market economics for new multi-family development sites and stabilized asset sales including return on cost and cap rate metrics.
Land Closing/Project Capitalization/Disposition
- Assist in other functions as needed during capital raise and disposition process (e.g. preparation of capital and disposition offering documents and conducting site tours).
Project Entitlement and Design
- Work with other functions as needed to ensure the project vision is carried out through the design and entitlement process.
- Management of Acquisition Manager(s) and Associate/Analyst(s) day-to-day responsibilities.
- Mentor and help develop Acquisition Manager(s) and Associate/Analyst(s) for career growth and high performance.
- Assist in the selection and training of new team members.
Knowledge and Experience Required:
- Bachelor Degree in Business, Finance, Accounting, Real Estate, Engineering, Math, or related field required.
- Graduate Degree and/or relevant professional certifications encouraged.
Licenses or Certifications Required:
Related Work Experience:
- 7-9 years
- While not a primary responsibility for this position, it is expected that candidates will have a significant track record of experience in and thorough understanding of managing and leading all aspects of the development process including due diligence, entitlements, (re)zoning, project design, capitalization, and asset/property management.
- Candidate must also possess mastery of Real Estate investment financial analysis and understand how to calculate and interpret return metrics (Cap Rate, IRR, Return on Cost, Residual Value, etc.)
For a further detailed discussion please contact:
Vice President of Operations
Siter-Neubauer & Associates
(V) 817-989-9700 ext. 7711