Gillian Executive Search, Inc. - recruiters in real estate development, construction and architecture
We have an exciting opportunity for a Land Acquisition Director to join our client’s Development team located in San Diego, CA. The role of the Land Acquisition Director will be to have a focus on the Los Angeles and surrounding sub-markets, and reports to the Vice President, Area Development Partner located in San Diego, California who is responsible for land acquisition and project entitlements for the Western Region. Responsibilities will include sourcing deals, underwriting deals, preparing letters of intent, purchase and sale agreement negotiations and oversite, building design review, market analysis, permitting, site planning, feasibility studies, and consultant management. This position will work closely with Development Analyst, Development Associate, Development Manager, Vice President, and Senior Vice President roles to develop appropriate deal pipeline.
Location – focused on LA and OC markets, most likely based in Irvine but could office out of San Diego
Our client is a privately held, vertically integrated real estate company that develops, designs and builds market-rate multifamily communities with exceptional services and amenities. Their every decision is strategic, focused and aimed at producing the best Class A multifamily assets with the best risk-adjusted returns for almost 40 years.
ESSENTIAL FUNCTIONS & RESPONSIBILITIES –
Source New Deals:
- Responsible for sourcing new deals in the Los Angeles and surrounding submarkets to fill approximately one-half of the regions business plan goals
- Research development opportunities
- Cultivate relationships with Broker community
- Direct source development opportunities through strategic avenues
- Direct, review, and confirm underwriting from Development Associates/Analyst
Gain Control of New Sites
- Prepare and submit letters of intent
- Negotiate and secure main economic terms with land sellers
- Lead land purchase contract preparation, negotiation, and execution
- Ensure that all aspects and obligations of land purchase contracts are met appropriately
Investment Committee Approval
- Lead the development of investment packages and pitches for presentation to the Investment Committee
- Manage and verify/confirm all aspects of underwriting analysis
- Assist in the oversight for the creation and preparation of power point presentation for Investment Committee
- Create the investment vision and ensure vision is accurately translated through the Investment Committee presentation
Market Research:
- Train, manage and verify analyst’s efforts in tracking market economics for new multi-family development sites and stabilized asset sales including return on cost and cap rate metrics
- Market Analysis: Maintain consistent knowledge of markets trends in order to provide recommendations to senior management of potential opportunities and risk profiles; Provide senior management with recommendations on project pricing and absorption rates
- Land Closing and Project Capitalization:
- Oversee land closing process. Assist in other functions as needed during project capitalization process.
Leadership
- Management of Acquisition Manager(s) and Associate/Analyst(s) day-to-day responsibilities
- Mentor and help develop Acquisition Manager(s) and Associate/Analyst(s) for career growth and high performance
- Assist in the selection and training of new team members.
NON-ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Build networking capabilities through attending industry conferences and meeting people in the broker community, as well as developing relationships with strategics partners including developers, builders, landowners, and public agencies.
- Other duties as assigned
EDUCATION, WORK EXPERIENCE, AND PHYSICAL REQUIREMENTS
- bachelor’s degree in business, Finance, Accounting, Real Estate, Engineering, Math, or related field required. Graduate degree and/or relevant professional certifications encouraged.
- Expert working knowledge of Microsoft Office applications including Excel, Word, PowerPoint, and MS Visual Basic (ability to create/modify macros).
- 10 + years of related work experience
- While not a primary responsibility for this position, it is expected that candidates will have a significant track record of experience in and thorough understanding of managing and leading all aspects of the development process including due diligence, entitlements, (re)zoning, project design, capitalization, and asset/property management.
- Candidate must also possess mastery of real estate investment financial analysis and understand how to calculate and interpret return metrics (Cap Rate, IRR, Return on Cost, Residual Value etc.)
CORE COMPETENCIES
- Driven
- Analytical
- Multi-tasker
- Attention to detail; organized
- Team PLayer
- Flexible/Versatility
- Proactive
- Strong communication skills (verbal and written)
- Integrity
- Demonstrated initiative
Our client offers:
offers employees a comprehensive benefits package with competitive salaries and more including:
Reasonable compensation is based on experience and proven abilities. Base salary between 130K to 200K With bonuses that range between 70 to 80% of base salary. Call Kipp Gillian to discuss in more detail – kgillian@gessearch.com , 866-600-0437 x 1
- Competitive annual and milestone bonus program
- Medical, Dental, Vision and Life Insurance
- Health Savings Account
- 401(k) with company match
- Flexible Spending Accounts (Dependent & Medical Reimbursement)
- Vacation Time, Holidays, PTO
- Paid Volunteer time
- Tuition Assistance
- Phone Reimbursement
- Employee Referral Bonuses
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Gillian Executive Search leaders in multifamily land acquisition multifamilhy development recruiting