Director, Capital Projects

About the role

Carmel Partners, one of the nation’s leading specialists in real estate investment management, with expertise in the investment, development and construction of multifamily real estate, is seeking a Director, Capital Projects in our San Francisco or Santa Monica Office. The Director, Capital Projects, manages national capital project execution across Carmel Partners multifamily portfolio. This role contributes to strategic direction, oversees financial performance, and ensures consistent process, quality, and reporting across all assets. The Director operates with a high degree of autonomy and is accountable for bottom-line results. Founded in 1996, Carmel is one of the nation’s leading specialists in real estate investment management, focusing on U.S. multifamily development and construction, renovation and debt investments. Through its vertically integrated platform, Carmel seeks to achieve superior risk-adjusted returns across market cycles by investing in relatively supply-constrained, high-barrier-to-entry markets in the United States.

Responsibilities

• Manage capital project execution across Carmel Partners multifamily development portfolio
• Drive project teams across regions, ensuring consistent execution standards and supporting professional development
• Contribute to Due Diligence efforts and formalization of Capital Business Plans during acquisitions
• Translate asset-level business plans and acquisition underwriting into buildable, phaseable project scopes that meet Investment Committee commitments
• Coordinate across internal teams and external partners, including Property Management, Acquisitions, Design, 3rd party Operations, Marketing, Construction, Asset Management, and Accounting
• Flag early when scope, cost, or building condition diverges from the pro forma underwriting
• Direct Owner/Architect/Contractor (OAC) meetings, both prior to and during construction
• Oversee external consultant teams, including architects, engineers, designers, and expeditors, and lead consultant bidding and selection processes
• Directly responsible for ensuring Construction phase of Capital Business Plan meets Investment Committee obligations. This includes project setup and close coordination with Carmel’s in-house Job Cost Accounting and Construction teams, 3rd-party general contractors, and direct subcontractors.
• Establish and maintain design and construction schedules
• Manage project assumptions, including budgets, schedules, and scope of work
• Oversee permitting efforts and regulatory agency relationships
• Oversee preparation and distribution of regular reporting to senior management
• Present portfolio-level updates and recommendations to senior leadership, escalating key decisions as appropriate
• Maintain deep knowledge of Carmel’s markets to inform Capital Projects strategy and ensure regulatory compliance
• Travel nationally to portfolio assets, up to 50% of the time

Requirements

• Bachelor's degree required; Graduate degree in Business, Finance, Construction Management, or Real Estate preferred
• 5-10 years of progressive experience in development, capital projects, or construction project management, with meaningful time in multifamily residential
• Well-rounded functional background across finance, acquisitions, development, marketing, and construction
• Proven track record managing project teams and mentoring talent
• Strong negotiating and influencing skills, with the ability to build consensus across regional and corporate stakeholders
• Fluency in financial modeling and real estate economics
• Advanced proficiency in the Microsoft Office Suite, particularly Excel and Project, with strong PowerPoint and Word skills
• Familiarity with emerging data and analytics tools, with the ability to leverage insights to support asset strategy and operational decision-making
• Excellent organizational and time-management skills, with the ability to manage multiple complex projects simultaneously
• Exceptional communication, presentation, and interpersonal skills
• Collaborative team player who also thrives working independently
• Impeccable integrity and sound judgment

Pay

Base compensation range $195K to $210K. Total compensation for this role also includes a bonus incentive in addition to the base salary. The Company reserves the right to ultimately pay more or less than the posted range and to offer additional benefits and other compensation, depending on circumstances unrelated to an applicant’s sex or other protected status under local, state or federal law.

Schedule

Travel nationally to portfolio assets, up to 50% of the time.