Director, Development

Job Responsibilities

Manages the due diligence process on land opportunities and develops documentation and recommendations on key findings that may affect the return and financial performance of the proposed deal.

Prepares detailed investment memorandums and authorizes their submission. Provides insight on the proposed projects to the Company’s Investment Committee including detailed pro-forma and financial models and pursuit cost budgets.

Supports the negotiation of sale and purchase agreements for approved projects. Issues letter of intent (LOI), negotiates PSA and ensures compliance with venture and loan documents.

Establishes finish schedule for preconstruction and reviews and resolves Geotech, Environmental and Land Use matters.

Directs third party relationships to complete project design concept and building plans in accordance to approved scope of work. Coordinates modifications for the project accepted during final pricing prior to closing to ensure they are incorporated in Construction Documents.

Reviews and approves all soft cost expenses to ensure consultant completion or work and cost are in line with project budget and finalizes cost classification memos.

Manages the detailed development budget, makes FF&E selections and approves fitness center, pool, and FF&E budgets.

Coordinates with consultants, permit expediters, and construction team to ensure all municipality requirements permitting and jurisdictions are met. Ensures any governmental and jurisdictional issues are addressed and resolved with the assistance of consultants and construction team.

Administers the Development and Construction Status Report (DCSR) process. Monitors and reports on the status and progress of proposed development pipeline project, recommending critical timelines and deadlines for tasks and activities related to the proposed transaction, and identifies and communicates issues or problems that could adversely affect closing.

Represents ownership on day-to-day project management activities including OAC meetings and jobsite visits, including attending mock ups, box walks and FF&E installs. Addresses any open issues with construction or consultants requiring owner feedback.

Reviews monthly draws to ensure project is on budget and identifies potential savings and overages to the budget including Operating Deficits, Taxes and Interest Reserve.

Qualifications

5+ years of experience in real estate finance.

A bachelor’s degree is required in Finance, Business, Real Estate, Economics, or related field.

Experience supporting development projects throughout the entire lifecycle from conception through completion.

Dynamic verbal and written communication skills and strong interpersonal abilities.

Strong analytical and quantitative skills, with excellent financial acumen and high proficiency with real estate underwriting and real estate finance concepts.

Maintains departmental progress and improves and adapts systems and services to drive results.

Promotes a strong customer-centric culture within the department to support seamless service and trust in Greystar as a reliable partner.

Demonstrated knowledge of the market dynamics within assigned region.