1130 MF: Senior Vice President of Acquisitions and Entitlements

Senior Vice President of Multifamily Acquisitions and Entitlement will organize all aspects of the acquisition, entitlement and early stage development process as a member of OUR CLIENT’s Investment Group.  The Candidate will possess strong investment analysis, underwriting, market research, and entitlement skills.

Senior Vice President of Acquisitions and Entitlement – candidates must have a solid financial/investment background for real estate coupled with strength in entitlements in Los Angeles and Orange Counties.

Acquisitions

• Lead acquisitions by creating potential site maps, sourcing land, and overseeing the letter of intent and PSA legal documentation process.
• Lead proforma underwriting and market research to determine viability and consistency with investment objectives.
• Collaborate with the Asset Management Team in establishing rent and expense projections, and other key strategic decisions related to the business plan.
• Lead the initial planning and evaluation of alternatives in the context of (a) potential entitlement challenges, (b) market conditions, and (c) required investment returns.
• Part of team to create the overall development concept with a specific focus on target residents/customer(s), project identity and market positioning.
• Direct the due diligence process, including selection and management of consultants and evaluation of reports (e.g., survey, environmental). Identify risks, mitigation strategies, and impact to projected investment returns.

Entitlement

• Lead the entitlement effort with city staff. 
• Directly communicate with local citizen groups, governmental staff and elected officials as part of the entitlement process. The Candidate is the primary community representative for the Company and project(s).
• Part of team directing all pre-development activities with 3rd party professionals (e.g., A&E), specifically including pre-closing design and entitlement work, resolution of due diligence issues, and satisfaction of closing contingencies (contractual and imposed by Investment Committee).
• Prepare requests to the Investment Committee for capital investment and pre-development expenditures. Efficiently and clearly present (i.e., advocate and defend) key facts, strategic vision, challenges, risks, and investment considerations.

Leadership

• Lead collaboration across multiple disciplines (i.e. asset management, construction,  acquisitions, finance, etc.) to solicit valuable input; ensure that team members are well-informed. Encourage active dialogue, open debate, and a healthy exchange of ideas.
• Provide leadership, mentoring, professional guidance, and direction to other team members.  Directly supervise the development team, providing meaningful opportunities to learn and be challenged, and offer constructive feedback to support their growth.
• Participate as subject matter expert in the periodic review of investment strategy and in presentations to the Company’s executive team.

Requirements:

These requirements represent the education, knowledge, skill, certifications/licensure and/or ability required to perform the Senior Vice President of Acquisitions and Entitlement job satisfactorily.

• An undergraduate degree, preferably with a real estate, or business major.
• Minimum of ten years of hands-on real estate experience preferably with a focus on multifamily, for sale residential, and/or mixed-use. While the industry experience likely is not limited to the development role, the candidate should have progressive accomplishments that demonstrate increased responsibility in a variety of related functions (e.g., site acquisition, entitlements, underwriting, finance, design & permitting, etc.).
• Significant direct experience procuring entitlements.
• Strong business management experience creating and managing budgets.
• Must be able to analyze and interpret econometric research, government/zoning regulations, conceptual design plans and specifications, and basic real estate related legal documents.

Skills:  The following k Save Only ey leadership and managerial skills are essential to successfully fulfill the Vice President role:

• Interpersonal Skills – including social intelligence, situational awareness, and political acumen. Many of the challenges faced during the process will require strong interpersonal skills, including conflict resolution, problem-solving, and an ability to effectively persuade and influence varied constituencies.
• Leadership Skills – motivating internal and external team members to achieve their highest potential; fostering a culture of teamwork (i.e., leading by example) toward a clear and common objective.
• Analytical Skills – strong attention-to-detail; evaluation of complex financial projections; consideration of technical issues, market conditions, and impact to projected risk-adjusted investment returns.
• Critical Thinking – evaluation of alternative concepts; assess and discern competing opinions and facts; synthesize varied financial scenarios with a specific focus on the relationship between risk and reward.
• Organizational Skills – management of multiple projects and competing priorities; organize direct reports, other internal team members and outside consultants in connection with contractual and other schedule constraints.
• Communication Skills – both in writing and verbally, preferably including experience with the following: (a) presenting information to OUR CLIENT’s investment committee, and (b) advocating for a project in front of a community group or elected officials.  The ability to actively listen is equally, if not more, important. Varied constituencies will be encountered during the acquisition and entitlement process, all of which must be treated with respect.

Compensation: General Compensation will be at or above market in both salary and bonus but client reserves the right to design a compensation package around the abilities of the desired candidate.  

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