Manager of Development Transactions

About the role

Realty Income aims to be a globally recognized leader in the S&P 100, committed to creating long-term value for all stakeholders. These stakeholders include our dedicated team members, who embody our purpose: building enduring relationships and brighter financial futures. This guiding principle serves as a beacon for our team, influencing every action we take. Our employees consistently invest their time, commitment, and dedication into the company, and in turn, they receive investment returns in the form of purpose, belonging, and opportunities for advancement. We are committed to best-in-class corporate responsibility practices through environmental initiatives, governance programs, and community outreach projects. From the boardroom to the breakroom, our team members make a difference every day.

Responsibilities

• Support in the execution of redevelopment projects, acquisitions development funding, and other value-add transactions.
• Conduct internal analytics to assist in negotiation and decision-making, prepare materials for Investment Committee consideration, and work across departments to assist with internal and external communication flow.
• Be involved in external deal negotiations with various tenants, brokers, and developers and have a strong understanding of the complexities for numerous deal structures.
• Review, analyze, and evaluate properties to assess the suitability for redevelopment, pad leasing, outparcel built-to-suit, re-purpose of assets, demising of big box space, and/or raze and rebuild for retail or industrial development.
• Research and compile market and trade area information and documents related to zoning, property taxes, demographics, easements and use restrictions.
• Analyze budgets and related economics for redevelopment or development funding.
• Conduct market and financial analysis, gather information from other departments, to affirm redevelopment vs. re-lease vs. sale options and determine the best outcome.
• Aid in broker, developer, and tenant communications.
• Aid in reviewing and assessing developer, tenant, and property-level financial performance.
• Aid in preparing and presenting financial analysis and reports to the Investment Committee.
• Train Analysts in underwriting, land valuation, survey, REA review, project tracking, and construction budgets.
• Prepare and deliver instructive, detailed requests to Legal Department to initiate the formal transaction process.
• Draft Letters of Intent and other preliminary legal documents for review for acquisition and leasing of commercial real estate.
• Track and communicate internally property-level redevelopment activity to ensure a seamless flow of information.
• Create and present pitches containing deal structure and talking points to various tenant prospects for redevelopment.
• Collaborate with transaction leads and legal teams to update tracking information regularly.
• Maintain a list of upcoming opportunities for commercial redevelopment.
• Investigate new enterprise-level applications for reporting and data management.
• Provide development reporting estimates for capital markets on an as-needed basis.
• Validate and reconcile metrics for quarterly reporting requirements.
• Aid in other new development opportunities that may be introduced as the tenant interest grows.
• Assist with project coordination on an as-needed basis.
• Complete special projects and duties as assigned.

Requirements

• Bachelor’s degree (B.A.) from a four-year college or university with a finance/real estate background.
• Minimum of 3+ years of experience working in real estate transactions, leasing and disposition and/or development.
• Knowledge of the use and applicability of budgeting, cash flows, and financial analysis for commercial real estate transactions.
• Understanding of commercial real estate and financial statements.
• Proficient in MS Office Suite.
• Excellent written, verbal, and negotiation skills, with the ability to clearly communicate complex issues to leadership, tenants/clients, developers, and brokers.
• Able to build and maintain solid internal and external relationships.
• Able to manage multiple priorities, adapt to changing assignments, work under pressure, and meet deadlines.
• Seek full understanding by asking questions and clarifying instructions to eliminate ambiguity.
• Strong organizational, prioritization, and project management skills.
• Strong understanding of financial modeling, financial statement analysis, corporate finance, and transaction structuring.
• Developing proficiency in using and applying rationale, fact-based business judgment; applying reasonableness in analyzing tasks/issues.

Preferred Qualifications

• Progress towards continuing education such as MBA, CFS, MSRE, MRED, or CCIM preferred.

Pay and Benefits

The pay range for the Development Manager role is $83,203 - $109,727 - $130,178. Offers near the high end are uncommon but may be considered for candidates with exceptional experience and skills and are dependent on the facts and circumstances of each case.

You may be eligible for an annual discretionary bonus and an annual discretionary stock award, to be discussed during the interview process.

An annual pay rate and total compensation package is generally determined by the candidate's experience, knowledge, education, skills, performance, and abilities, as well as internal equity, company performance, and alignment with market data.

We offer a best-in-class benefits package that includes healthcare, dental, and vision insurance for employees and eligible dependents. Our 401(k)-retirement plan has a company match of 50% up to 6% of eligible compensation.

Realty Income also offers other wellness, financial, and work/lifestyle-specific benefits, along with a generous PTO accrual; in addition to 12 paid holidays, and paid volunteer time.