Director, Real Estate Development

Summary of Responsibilities

We are seeking a self-starting Director, Real Estate Development who thrives in a dynamic environment where opportunities abound. A professional who respects process and structure but is driven to land deals and work hard to achieve this. Tough deals are your forte and you enjoy the chase of the deal. If you are proactive, and assertive, with a competitive drive to achieve the goals you set for your personal success, this role is for you. You are motivated by financial rewards, take charge of situations and processes, and get things done quickly and thoroughly. You thrive in settings that recognize and celebrate outstanding performance, allowing you to think ahead, act swiftly, and innovate. If you are a disciplined leader who is results-oriented and motivated to succeed, we want you on our team! The Director, Real Estate Development drives the development process including the development of concepts, budgets, coordinating due diligence, zoning issues and compilation of all information in association with the Business Development Leader. Owning the success of the predevelopment process, the Director will efficiently leverage resources externally and internally, acting as an integrator, in order to drive the best possible development project to closing. Once closed, the Director is focused on our investors’ interests, being accountable for the project’s progress, development budget and acting as owners’ representative during the construction phase. This role’s responsibilities remain with the project through stabilization, when the stabilized asset is turned over to the asset management team. Essential Job Functions

• Schedule, leverage internal and external resources to drive the complete pre-development process including due diligence for sites under contract (soils, Phase I, environmental surveys, title etc.), providing input on site layouts, engaging with internal design and construction teams to obtain pricing, compile information and prepare budgets and initial pro-forma analyses
• Qualify opportunities and present project strategy, milestones, feasibility and risks to the Investment Committee for internal approvals at various stages of predevelopment
• Obtain site plan/governmental approvals for signed developments, including leading presentations to government bodies as necessary
• Work with internal development team to mitigate problems proactively to keep project timelines intact including leveraging internal leaders across teams to ensure accountability and collaboration leading to successful closing
• Coordinate or facilitate meetings with tenants and third-party consultants and contractors as necessary to achieve project milestones
• Drive accountability for construction schedules and budgets of Merus owned managed projects
• In collaboration with internal teams, process pay requests and change orders for funding
• Perform site inspections to assure conformance to developments plans and specs
• Provide detailed progress reports to investors on project status and financial performance
• Provide leadership on projects that drives technical attentiveness

Essential Competencies

• Presence: Identifies, creates and grows new relationships with CRE industry participants that will have a meaningful impact on the business
• Deal Structure: Identifies terms included in various development related documents potentially detrimental to the developer and investor and mitigates or eliminates through negotiation
• Financial Analysis: Advanced understanding of financial analysis, CRE capital markets, and CRE economics; ability to identify business terms necessary for profitable transactions in joint ventures, forward sales, ground up development, leases, acquisitions, dispositions, etc.
• Due Diligence: Understands and identifies potential issues presented in consultant reports. Ability to direct team and key consultants toward solutions to achieve required results for project success
• Construction Oversight: Strong understanding of construction contracts; ability to ensure plans, scope, costs and schedule are accurate and aligned with development strategies and underwriting criteria. Oversees projects under construction and advocates for Owner’s interests
• Product Development: Understands design standards for each asset class. Ability to drive design decisions to ensure achievement of company and market standards
• Understanding Markets: Ability to recognize trends in market metrics and identify strategies to capitalize on such trends. Works with the Market Leader to carry out identified strategies
• Leadership of process and people: Ensures process and people stay in sync throughout the development process. Identifies challenges proactively and works through the team to achieve resolution. Uses opportunities to mentor team and build knowledge while driving superior service to our internal and external partners.

Qualifications and Experience

• Five to ten years of commercial real estate experience in development, legal, finance or brokerage
• Strong project management skills. Demonstrated ability to create and drive schedules
• Demonstrated leadership abilities focused on mentoring and growing teams while driving accountability
• Ability to analyze data and make recommendation.
• Capability to use critical thinking to solve complex problems
• Ability to communicate professionally with others, including planning commissions/other government bodies, as well as internal teams of executives
• Ability to coordinate outside vendors, particularly in the due diligence process
• Familiarity with principles of real estate finance and real estate financial models
• MBA and/or JD preferred
• Bachelor’s or higher Degree in Business, Finance, Architecture, Engineering, Law or Planning required

Safety Hazard of the Job Normal safety hazards associated with office work, and with occasional observational visits to construction sites Physical Demands Low physical effort required to sit, stand at files, bend, stoop, lift, and walk. Maximum unassisted lift is 35 lbs. Average lift is less than 10 lbs. Requires ability to use a keyboard and monitor. Also requires the ability to communicate verbally, both in person and on the telephone. May require some travel by car or plane Environmental Requirements Average inside office environment. Average office noise levels. No personal protective equipment is required. Ambient temperature is between 68F and 76F