Managing Director, Development

Shine Associates, LLC; Atlanta (GA); On-site; USD 180,000 - 250,000; Full time

Job summary

Shine Associates, LLC seeks a Managing Director Development to lead the Atlanta/Nashville regional strategy for multifamily garden, wrap and podium style development and acquisitions. You will source sites, drive pro forma budgets, underwriting, schedules and standards, aiming to execute 3-5 deals per year and establish in-region construction capabilities.

The role requires 8+ years in multifamily development/acquisition, exceptional organization, and strong financial modeling/analytical skills.

Qualifications

• Requires BS/BA, preferred in business, real estate, finance or accounting.
• 8+ years of multifamily development/acquisition experience.
• Strong organizational and multi-tasking abilities.
• Independent thinker with initiative and high work ethic.
• Proficiency in Microsoft Excel, Project, PowerPoint and Word.

Responsibilities

• Source and underwrite land for ground-up developments and existing opportunities.
• Identify and analyze major risks in new development/acquisition opportunities.
• Prepare market rent analyses and contribute to investment committee materials.
• Coordinate with engineering and design consultants; manage RFI/ASI processes.
• Oversee site development, building permits, and construction scheduling.
• Monitor budgeting, cost controls and project accounting with the accounting team.
• Support asset management with ramp-up and lease-up for properties.

Skills

Financial modeling

Organizational skills

Analytical thinking

Communication skills

Team collaboration

Education

BS/BA in business/real estate/finance/accounting

Tools

Excel

Project

PowerPoint

Word

Job description

MANAGING DIRECTOR DEVELOPMENT - ATLANTA

POSITION SPECIFICATION

Shine Associates, LLC has been retained to search, identify and recruit a Managing Director Development on behalf of our client (‘Company’). This position will be located in Atlanta and be responsible for day-to-day market coverage of Atlanta and Nashville.

CONFIDENTIALITY

Shine Associates, LLC has been exclusively retained on this assignment. Information contained in this position specification as well as any other information concerning our client provided or verbally discussed is confidential. All materials and discussions are to be utilized for the sole purpose of a candidate’s personal review of the career opportunity.

CLIENT DESCRIPTION

Our client develops suburban, high-end institutional, garden-style properties as well as high-density urban communities, concentrating on areas of population and business growth. The firm also performs the general contracting for its product and uses “best in class” planning and construction practices, emphasizing high-end finishes, distinctive design elements and a full complement of amenities. The Company has offices in Texas, Arizona, Florida, Colorado, North Carolina and Washington, DC.

Our client has the primary objective to create superior investment returns for its investors and partners while maintaining the highest ethical standards. The firm accomplishes this goal by developing or acquiring top quality multifamily properties and operating them with a focus on resident satisfaction.

The team of industry veterans has, in total, well over 50 years of experience. The principals have developed in excess of 16,000 units with total capital investment of more than $2.5B. Currently, the firm has 2,500+ units of multifamily under development with a pipeline of 3,000+ units. It is recognized as being one of the top 15 development firms by NMHC.

The Company recently announced an investment by Haseko Corporation through its consolidated subsidiary, Haseko North America, Inc. Haseko, based in Japan, is a global construction company specializing in residential condominium construction and traded publicly on the Tokyo Stock Exchange. Since its inception, Haseko has built over 720,000 condominium units, accounting for about 10% of the total number of for-sale condominium units in Japan. This partnership will bolster our existing strengths and provide both growth capital for our balance sheet and access to new international capital relationships. Additionally, Haseko's deep construction expertise will allow the Company to implement efficiencies and enhance productivity and results across our existing markets as well as expansion markets.

MANAGING DIRECTOR DEVELOPMENT

The position we are looking to fill is Managing Director Development to establish the company’s Atlanta/Nashville Region for future multifamily garden, wrap and podium style development and acquisition activities. The individual will source sites and properties, direct the implementation of and execute systems, programs and processes to ensure proforma development budgets, underwriting, schedules, quality and standards are met and completed in accordance with adopted company standards. The firm’s goal is to execute 3-5 deals per year within this region. The Managing Director will play a key role in the establishment of the firm’s General Contractor capabilities to ultimately self-perform the construction of the firm’s projects in the region.

KEY RESPONSIBILITIES

• Source and underwrite potential acquisition of land for ground up developments and existing investment opportunities.
• Identify and analyze major risks affecting new development/acquisition opportunities.
• Possess excellent financial modeling skills as well as superior analytical and quantitative, problem solving skills.
• Research supply and demand forces in the various markets.
• Possess broker networks to facilitate new site opportunities.
• Be comfortable and competent in preparing market rent analysis.
• Prepare materials for and/or participate in investment committee presentations and internal quarterly meetings.
• Participate in the selection of engineering and design consultants.
• Develop and maintain document clarification procedures (RFI’s, ASI’s).
• Direct the coordination of architectural and engineering plans.
• Manage the site development and building permit process.
• Assist in preparation of construction schedule.
• Monitor billing forecast, cost controls and project accounting with accounting team.
• Monitor quality control by managing the unit turnover process with property management and operations maintenance staff.
• Prepare annual project level reforecasts and assist in budget review process for each asset.
• Support Asset Management with ramp up and lease up of the properties.
• Be able to manage multiple development projects at any given time.
• Work closely with Project Management teams to ensure a smooth ground up/construction phase through completion.

QUALIFICATIONS

• BS/BA required. Major in business, real estate, finance or accounting preferred.
• 8+ years of multifamily development/acquisition experience.
• Exceptional organizational skills with the ability to prioritize and multi-task.
• Ability to work independently and as a team member, independent thinker, high level of initiative and strong work ethic.
• Flexible with positive attitude and willingness to work additional hours to complete projects within fast-paced entrepreneurial environment.
• Expertise in Microsoft Excel, Project, PowerPoint and Word.
• Excellent written and verbal communication skills.

COMPENSATION

The chosen candidate will receive a highly competitive salary plus an incentive package.

CONTACT INFORMATION

Shine Associates, LLC
www.shineassociatesllc.com
45 School Street
Suite 301
Boston, MA 02108
Tim Shine, Principal
Cell [phone]
[e-mail]