Real Estate Development Manager

Senior Housing Partners (the project development company of Presbyterian Homes & Services) is seeking a Real Estate Development Manager to join its team.

About the role

The Development Manager takes a lead role in shepherding a new project or redevelopment through all phases of development. This position will lead two to three development projects in various stages of development. The Development Manager is responsible for achieving project tasks related to property acquisition, pro forma financial analysis, project debt and equity financing, loan closings, and project planning and construction.

Responsibilities

• Manage day-to-day tasks of all assigned development projects and pipeline activities.
• Ensure a high-quality project and establish a high-performing team through conducting the project concept development.
• Coordinate and select professionals including architects, engineers, general contractors, financing underwriters, and others necessary to advance the project.
• Perform pro forma financial analysis of properties for development, acquisition, and redevelopment.
• Prepare pro forma development budgets and property operating budgets under the direction of a VP.
• Work with team members to prepare responses to requests for proposals and solicitations for bids by coordinating the proposal response and preparing the proposal materials.
• Perform site visits of potential property acquisitions and assist VP in market analysis and preparation and review of due diligence reports.
• Help guarantee desired sites by assisting with the site acquisition process.
• Work with the professional staff to present plans to approving jurisdictions (city, county, watershed district, etc.) to obtain project/land entitlements.
• Solicit consultant and contractor services for due diligence, design, and construction services; review and evaluate the responses and obtain the services.
• Assist with the preparation of debt and equity financing applications for each of the projects.
• Support the team in closing the financing and manage the closing checklist.
• Contribute to project efficiency by directing site planning.
• Serve as the owner representative through the construction process including attending construction meetings, evaluating proposed project change orders, coordinating monthly draws, and completing post-construction punch list and warranty work.
• Assist the VP with the construction administration process by coordinating the flow and filing of construction documents.
• Analyze progress against project schedule and modify the schedule as needed.
• Prepare internal and external reports on each project as required.
• Manage various databases, spreadsheets, and reports related to project budgets and schedules, project financing, construction administration, and property lease-up.

Qualifications

• Bachelor’s degree required; master’s degree in related field (real estate, urban planning, architecture, business, or finance) preferred.
• 3-4 years of experience in development or senior housing, assisted living, care center, or related field and/or meets required competency targets.
• Demonstrated knowledge of senior living real estate development, building codes, regulatory requirements, and functional and operational requirements.
• Demonstrated knowledge of real estate development, finance, design, and management.
• Demonstrated knowledge of due diligence and financial underwriting.
• Proficiency with Word, Excel, and PowerPoint is required; proficiency with MS Project is preferred.
• Experience with financial analysis using Excel or similar spreadsheet program is required; experience with GIS software is a plus.
• Strong writing and editing skills and experience in conducting research and analysis.
• Flexibility, personal integrity, and ability to work effectively with co-workers, site operating staff, and various other professionals.
• Ability to work independently and direct a team of professionals.
• Excellent oral, written, and interpersonal communication skills and strong attention to detail.
• Ability to work within specific timelines and travel up to 15% of the time.
• Demonstrated ability to read, write, speak, and understand the English language to communicate with all customers.
• Demonstrated compatibility with PHS’ mission and operating philosophies.

Pay

The estimated starting pay range for this role is $104,000 - $130,000 per year. Actual pay range depends on individual employee qualifications and market conditions.

Benefits

Full-time benefits-eligible employment begins at a minimum of 30 hours per week:

• Health and dental insurance, including applicable HSA & FSA
• Employer contribution to HSA for eligible health plans
• Life insurance (AD&D)
• Retirement plan, with eligibility for an employer match
• Holiday pay and extended sick leave

Full and part-time benefits-eligible employment working between 20-29 hours per week:

• Vision insurance
• Voluntary short-term & long-term disability
• Accident & hospitalization coverage
• Education assistance programs

All employees:

• Accrue PTO (Paid time off)
• Same-day pay
• Employee assistance program (EAP)
• College partnership educational discounts
• Access to Learn to Live Resources

About PHS

Presbyterian Homes & Services (PHS), based in St. Paul, Minnesota, is a nonprofit, faith-based organization providing a broad array of high-quality housing choices, care, and services options for older adults. Some 8,000 employees serve more than 41,800 older adults through 60 PHS-affiliated senior living communities in Minnesota, Iowa, and Wisconsin, and through Optage® home and community services. PHS is also co-owner of Genevive, the largest geriatric primary care practice in Minnesota, providing comprehensive care for more than 15,500 older adults. Established in 1955, PHS has earned the reputation as an innovative leader dedicated to promoting independence, purposeful living, and the overall well-being for those they serve. Today, PHS is one of the largest nonprofit providers of senior housing and services in the nation.