Managing Director Multifamily Development Site Acquisitions
Managing Director Multifamily Development Site Acquisitions
Posted on :
10-04-2025
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Job Description
POSITION SPECIFICATION
MANAGING DIRECTOR MULTIFAMILY DEVELOPMENT SITE ACQUISITIONS
MANAGING DIRECTOR MULTIFAMILY DEVELOPMENT SITE ACQUISITIONS
Shine Associates LLC (Shine) has been retained to search identify and recruit a Managing Director of Development Acquisitions. The position will be located in the New York office.
CONFIDENTIALITY
Shine Associates LLC has been exclusively retained on this assignment. Information contained in this position specification as well as any other information concerning the Company provided or verbally discussed is confidential. All materials and discussions are to be utilized for the sole purpose of a candidates personal review of the career opportunity.
SENIOR DIRECTOR DEVELOPMENT ROLE
Managing Directors lead the sourcing (building a pipeline) and of the Companys development and new construction strategy by implementing and processing identified development projects for the assigned Region and/or markets and by managing all facets and activities related to new development projects to achieve the established financial and growth targets for the Region. The Senior Development Director will interface heavily with real estate owners local market brokers and senior executives so applicants must have dynamic verbal and written communication skills and strong interpersonal abilities. A minimum of 57 years of prior real estate development experience is required. Applicants should have strong broker relationships market knowledge including analytical and qualitative skills and an excellent financial acumen and high proficiency with real estate underwriting and real estate finance concepts.
KEY RESPONSIBILITIES
- Source new multifamily development opportunities and sites through developing and maintaining relationships with key stakeholders including brokers consultants land sellers equity partners lenders etc. in the Region to identify feasible financeable and profitable new initiatives.
- Negotiate or assist in the negotiation of complex legal instruments including contracts easements term sheets loan documents joint venture agreements municipal agreements joint development agreements etc.
- Develop and perform financial analyses and entitlement risk underwriting which forms the basis for site selection and the Companys spending of pursuit capital and allocation of investment capital.
- Manage the preentitlement process by maintaining accurate pursuit cost forecasting and reporting and implement and execute programs and processes to ensure proforma development budgets underwriting schedules quality and standards are met and completed in accordance with adopted Company policies.
- Supervise development production team members and managers by interviewing orienting training and mentoring employees and managing their performance in accordance with Company policies values and business practices.
- Fully engage and work with the Regions business lead and discipline team leaders in achieving the Regions financial and growth goals by participating in team meetings and calls keeping team members informed about status of new development work and actively working with the team on new business development meetings with clients and investors and other RFPs.
- Participate in routine Investment Committee meetings that focus on proposed development projects by making presentations on said projects working with and assisting the Managing Director of Finance in project financing and reviewing and providing progress updates on projects under pursuit under construction and under leaseup.
- Discuss strategy and provide input to the strategic decisions and direction of the Companys Development & Construction business and act as a conduit to Managing Director for team member client and key stakeholder questions concerns and issues related to business education or human resources operations.
- Manage complex development projects under construction to ensure developments remain on time and on budget; interact with construction team members and thirdparty general contractors to achieve business plan goals on specific assets.
- Manage consultant third party consultants to identify entitle design finance permit construct lease manage and dispose of new development projects.
- Accountable for coordinating work activities ensuring open communication between consultants and Company project team members lenders and equity investors as needed by researching and communicating ongoing project status.
KNOWLEDGE SKILLS AND ABILITIES
- Ability and preference for working in a teamoriented setting and interacting with several departments (Development Construction Asset Management Property Management and Finance) that provide functional expertise and insights toward proper product positioning.
- Deep and broad experience in multifamily development and new construction including market and submarket familiarity with the demand drivers supporting the growth of this business plus prior entitlement experience and a solid understanding of construction means and methods to lead initial and ongoing project planning meetings.
- Strong research skills and ability to identify and compile information to support the investment thesis and clearly articulate those findings to the Companys Investment Committee and prospective capital partners.
- Strong ability to problemsolve and multitask in a fastpaced environment.
- Demonstrated ability to read write negotiate and communicate effectively to comprehend and/or complete legal contracts partnership documents loan documents financial spreadsheets and human resources documents and to create and make presentations to Board members Executive members partners lenders and staff.
- Demonstrated ability to read and comprehend architectural structural engineering and civil engineering plans.
- Extensive experience in negotiating Architectural and Engineering Consulting Agreements Easement Agreements and other related documents affecting title and survey.
- Demonstrated high proficiency in Microsoft Word and Microsoft Excel to complete required reports and employment documents.
- Demonstrated excellent mathematical skills necessary to add subtract multiply and divide numbers decimals and fractions and calculate yields and internal rates of return to develop project proformas Regional financial forecasts budgets and other fiscal reporting information.
- Demonstrate high proficiency in real estate modeling and underwriting as well strong understanding of real estate finance and structured finance concepts.
- Demonstrated management and supervisory skills sufficient to lead direct evaluate and mentor subordinate and peer employee staff as well as consultant teams.
- Employment history that demonstrates the application and usage of a development (and construction) and/or facilities background sufficient to design lead and direct development and construction activities and projects from design to completion.
EXPERIENCE
- 1015 years of real estate development experience
- Proven success in sourcing transactions
- Definable experience with entitlements permitting and design
- Thorough understanding of development budgeting and underwriting
- Multiple market exposure throughout the New York metro region including N. New Jersey
COMPENSATION
The annual compensation for this role is expected to be approximately $350000 including salary and bonus. Actual base salary will be determined by several components including but not limited to: relevant experience skills and qualifications base salary of internal peers and geographic location. In addition to base salary this role may be eligible for a discretionary annual bonus LTIP and a variety of financial wellbeing and health / welfare benefits.
CONTACT INFORMATION
Shine Associates LLC
45 School Street
Suite 301
Boston MA 02108
www.shineassociatesllc
Shine Associates LLC
45 School Street
Suite 301
Boston MA 02108
www.shineassociatesllc
Timothy M. Shine Principal Hillary Shine Principal
emailprotected emailprotected
Required Experience:
Manager
Employment Type
Full-Time
Key Skills
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