VP Land Acquisition

Responsibilities

• Manage the land acquisition department; ensure it is competently staffed and functional.
• Identify land opportunities, which do not satisfy the division’s objectives, but have potential profit opportunities through the resale process.
• Sell division assets as required.
• Advise Division President on opportunities, market trends, and competition.
• Conduct weekly land status report meetings with Division President.
• Identify land that aligns with the strategic plan and coordinate the acquisition, zoning, and development processes.
• Negotiate price and terms of property acquisitions to ensure the division has a competitive edge in our respective target sub-markets.
• Partner with zoning attorneys, our real estate attorney, developers (both in-house and outside) and local regulatory agencies to ensure the division’s risks are eliminated or mitigated.
• Identify opportunities for the division to buy and “flip” land at a profit for the division.
• Manage any lot or land sale functions within the division.
• Participate in the creation of the division strategic land acquisition planning process.
• Help guide the process to competitive acquisition targets that although rare, are possible to find.
• Develop extension broker connections so that we see a large number of new deals early in the selling process.
• Develop good contracts with the local developer community to provide the division with option deals in good subdivisions at competitive prices.
• Initiate the contract process, review all contract changes, oversee our attorney reviews and negotiations, identify major contractual risks (and their concurrent obligations), and ensure all our major deal point issues are addressed in each transaction.
• Manage the zoning and permitting processes. Ensure that we get the best possible density and conditions from the process – ensure our contracts are linked to these results.
• Manage our market knowledge and sub-market analysis projects to ensure that we have current data on land prices, lot prices, absorption, selling times, schools, road improvements, utilities, sewer, job centers, competition, municipal requirements, and other data needed to develop and refine our strategic land acquisition objectives.
• Ensure that we budget for and control our land acquisition budget to include due diligence and research.

Qualifications

• Bachelor’s degree in business, real estate, finance, or related field required.
• Master’s degree in business, finance, real estate, or related field preferred.
• At least five years of experience in land acquisition, divestiture and development.
• Realtor or Broker’s license preferred.
• Experience with MS Office Products (e.g., Word, Excel, PowerPoint, Outlook) and ability to learn other computer programs.
• Knowledge of Residential real estate laws and zoning regulations.
• Contract language and the ability to identify critical deal points.
• Broker networking.
• Supply/demand analysis and demographic mapping.
• Local residential housing markets.
• Basic land development process.
• Basic financial analysis and proforma creation.
• Deal structures: option contracts, mezzanine financing, joint ventures, assemblages, and land banking.
• Topographical effects on development.
• Basic sales and marketing functions.