Senior Vice President Development

Hirewell has been exclusively retained by a prestigious Real Estate Private Equity Investor to lead the search for a SVP - Development. This position, held in the Austin, TX area, is responsible for strategic leadership of the region, and ultimately being responsible for the region’s success. The Senior Vice President will manage the Development and Asset Management Teams, Develop and implement regional portfolio strategies to be consistent with company objectives, lead all acquisitions, dispositions, development, and asset management functions while being responsible for portfolio budgets and cash flows. Ideal candidates will have direct knowledge and experience of the Central Texas Market across multiple asset classes.

Responsibilities:

• Have direct oversight of Associates and Analysts whose primary responsibilities include review and completion of applications and due diligence documentation necessary for debt and equity financing, and property purchase.
• Serve as the Deal Team Leader in all aspects of the Development & Acquisition process when opportunities are identified.
• Identify off-market opportunities and partnerships.
• Keep abreast of industry offerings and updates.
• Validate and defend budgets, assumptions, and pro-forma analysis, including the identification of problems inherent to a given project.
• Devise the most accretive capital structures on a deal-by-deal basis.
• Negotiate accretive transactions with investors, brokers, property managers, industry consultants, and other third parties.
• Utilize their existing local industry relationships to develop a robust pipeline of Development and Acquisition opportunities as part of an overall business development strategy.
• Work to provide guidance and approval for yearly operating and capital budgets for all assets in the regional portfolio.
• Participate in cap ex analysis if a significant major/capital plan is being proposed and/or a renovation is recommended.
• Oversee contract negotiation and review of legal documentation for equity and loan agreements, purchase and sale contracts, and ownership structures.
• Evaluate and synthesize due diligence information including financial, market, demographic, site, federal, and state regulatory data.
• Monitor all issues (either property level or capital structure) that adversely affect cash flow and, potentially require communication with owners/lenders. As a result, discussions are needed with Operations, Financials Services/Accounting and/or Construction Services to understand the underlying issues and recommendations. At times, will complete additional evaluation (e.g., independent market survey, financial analysis) to understand the issue more deeply and independently, as needed.
• Work with Investor Relations and Fund Accounting to address owner/investor inquiries and provide property highlights for the quarterly fund report, year-end investor letters, and ad hoc communication needs.
• Ensure the long-term viability of each acquisition and serve as key contact/problem-solver throughout the entire post-acquisition lifecycle of each acquisition.

Requirements

• Highly effective leader with the ability to build strong relationships with prospective and existing clients/partners and sellers/buyers of real estate as well as direct reports.
• Strong multi-tasking, time management, leadership, and decision-making skills.
• Established track record of business plan development, execution, and value creation across the multiple asset class.
• 15+ years of proven investment/acquisition experience in the real estate market.
• Bachelor’s degree (Master’s degree preferred), specializing in Business and Finance.
• Strong leadership and teamwork ability; provide support/direction to members of management team.
• Preference for familiarity with the Texas and adjoining state market area and knowledge of potential broker and community relationships.
• Working knowledge of leasing, accounting, development, and operations of projects.
• Maintains a high level of professionalism, leadership, and analytical skills.