Description:
DEVELOPMENT MANAGER – NORTH CAROLINA
Akridge is seeking a Development Manager to assist in the acquisition and development of complex commercial and mixed-use real estate projects in the Charlotte/Raleigh/Durham /Greenville, NC markets. Under the direction of Development and Acquisitions executives, the Development Manager will oversee and coordinate key elements within the acquisition and development cycle on multiple projects, and be responsible for identifying and pursuing new investment opportunities for the firm. The position requires exceptional spoken and written communication skills, strong abilities in financial analysis and presentation, and knowledge of the North Carolina real estate market. The Development Manager will report to the Senior Vice Presidents of Development and Acquisition.
PRIMARY RESPONSIBILITIES
A. Acquisitions
1. Identify and source new investment and fee generation opportunities in the North Carolina market for the firm. Development Manager will represent the firm in all aspects in the North Carolina market, keep abreast of market trends and notable transactions, and make investment recommendations to executive leadership.
2. Work in conjunction with the Acquisitions Department as necessary - particularly in assembling and analyzing due diligence on prospective properties and preparation of business plans, budgets and static proforma cash flow analysis of prospective acquisitions.
B. Design Management
1. In conjunction with the Senior Vice President of Design and Construction, interview and select architect and all design consultants for the project.
2. Manage entire design process including pre-construction services of general contractor and coordinate the hand-off of design management and construction management to in-house or contract Construction Manager. This hand-off should occur no later than the end of the design development stage when all the planning of project is essentially completed.
3. Emphasis will be on ensuring that the cost and quality of the building design meets the needs and price point of the target market.
4. Responsible for all governmental relations for the project including site plan approvals, entitlements, historic preservation approvals, building permits, certificates of occupancy, etc. Project Manager will draw on the services of the Construction Manager and consultants to obtain these approvals.
C. Construction
1. Supervise the activities of and provide back-up to the Construction Manager during the construction phase of the project.
2. Attend requisition and progress meetings as necessary to keep a “pulse” on the status of the project and to be able to step in for Construction Manager during his absence.
3. Coordinate between Leasing Agent and Tenant Work Construction Manager on budgeting, bidding and completing tenant work for building clients.
D. Marketing and Leasing
1. Direct the Akridge Marketing Department and third party marketing consultants in the preparation of the marketing plan and budget for the project.
2. Interview, select and manage leasing agent (either in-house or contract). Responsibility for leasing will continue until initial leasing is complete or project leasing is otherwise handed over to the Asset Management Department.
3. Prepare all financial analysis required to justify each lease transaction Akridge partners and investors.
E. Reporting and Financial Analysis
1. Responsible for direct preparation of Proforma Cash Flow and Development Cost Budget analyses and prompt notification of any changes to the DCB to Senior Vice President - Development with justification.
2. Responsible for preparation of project narrative and review of financial reports generated by Akridge Accounting Department which will compose the monthly investor status report.
3. Utilizing the services of a Project Accountant, prepare and approve all invoices for development costs and draw requisitions for submission to lenders and/or partners.
4. Manage the preparation of additional more detailed financial analysis, eg long term cash flow, deal structuring sensitivity analysis with assistance of Financial Analyst.
5. Prepare monthly project status reports for internal parties and investors.
F. Finance
1. Manage all phases of the procurement of construction and permanent loans with the assistance of the CFO’s Department.
2. Manage investor and lender relations.
REQUIREMENTS AND QUALIFICATIONS
- Five to ten years of full-time experience in a related field or discipline
- Excellent oral and written communication skills (see Key Competencies below)
- Knowledge of the local real estate market
- Experience with some of the following areas: approvals and zoning, architecture, engineering, construction, capital markets, leasing or sales brokerage, marketing and advertising, transportation, urban planning, economic development, or financial analysis
- Ability to create and manipulate pro forma financial analyses in Excel and concisely present findings is required (Argus a plus)
- Bachelor’s degree
KEY COMPETENCIES
- Communication Skills: On a daily basis, the employee must employ negotiation, persuasion, active listening and other skills in order to motivate others to achieve project or company objectives. A successful applicant for this position will demonstrate a track record of success in motivating individuals and groups to achieve objectives by multiple communication methods.
- Multi-tasking: The employee will require juggling and prioritizing many tasks, across multiple projects involving different teams and different deadlines in a highly collaborative and fast-paced work environment. Applicants should demonstrate success in similar situations.
- Independence and Creativity: With supervision, support and mentorship provided by many executives across the company, the candidate will gradually take independent responsibility for a greater number of tasks. Applicants should demonstrate, through previous experiences, an ability to work creatively and independently when immediate solutions are not available to meet a particular objective
- Analysis: This position will require quantitative and qualitative analysis skills. Applicants should have the ability to synthesize and reduce information and data to their essential components, as well as make educated assumptions when complete information is unavailable.