Vice President Real Estate Development

Job Title:

Vice President Real Estate Development

Date:

04/25/23

Department:

Real Estate

Location:

Boca Raton

Reports To:

Executive Vice President Real Estate

FLSA Status:

Exempt

Summary:

This strategic and highly visible position will work along with the current Vice President Real Estate Development (RED) for a transitional period. Once successfully onboarded, this role will provide the necessary leadership for the daily operations and activities of the Real Estate Development department overseeing Real Estate Analysts, Managers and Directors. This position will lead RE Development’s GLBO, lease amendments and naked tower negotiations in addition to supporting the sale of excess real estate. This leader cultivates strong partnerships and collaboration with the Investment Committee, Operations, Development, Leasing, Legal, Asset Management, M&A, IT and Finance. The job requires highly evolved sales management skills and a highly organized individual who will drive continuous improvement efforts in automation, process consistency, and precise tracking of department KPI achievement.

Job Functions:

1. Provide leadership and direction to the RE Dev team that has responsibility for all real estate lease amendments and naked tower amendments including tracking all sales activities delivering cost optimization results for Vertical Bridge
2. Review the current lease amendment/naked tower (i.e., towers with no current tenants), ground lease buyout (GLBOs) and excess land departments processes. Implement new enhancements and IT workflow procedures to allow for scalability of the department
3. Understand, manage, and communicate IC underwriting requirements to RE Development team
4. Ensure that all IC decks are accurate, well laid out and meet Investment Committee (IC) approval standards
5. Develop and present quarterly forecasts reflecting evolving market conditions such as interest rate changes, acquisition multiple changes and competitive data
6. Overall responsibility for managing all GLBOs and lease amendments and execution processes once an amendment receives IC approval
7. Provide sales and ground lease analysis training for new hires and production goals for all staff members
8. Co-ordinate with asset management to integrate all lease amendments into Floyd
9. Oversees integration and analysis of all new naked tower acquisitions – work with M&A to provide early analysis and due diligence of these new tower sites
10. Work with leasing to identify and plan for all new naked/negative TCF sites due to carrier churn.
11. Prepare analysis and plan for each tower site depending on numerous factors including ground lease terms and potential lease up (CSA/CMA)
12. Co-ordinate with IT to develop tech solutions to allow for scalability and help remove human error from the RE Dev processes
13. Maintain overall responsibility for the accuracy of the Real Estate Development tracking reports for all lease amendments
14. Oversee various administrative duties from the Real Estate Development Department

These job functions are representative of tasks accomplished by incumbents. The list is not exhaustive; incumbents perform other job-related tasks.

Supervisory Responsibilities:

Real Estate Development Analyst, Real Estate Development Manager and Real Estate Development Director positions.

Working Conditions and Physical Demands:

Position will work directly from the corporate office with minimum travel.

Education and Experience:

1. Minimum four-year degree (BA/BS) required, preferably in business, legal, real estate or another related field
2. Minimum 10 years of business/sales and/or contract administrative experience, preferably in real estate, legal or related industry such as leasing, with telecommunications strongly preferred
3. Prior experience working with Salesforce or similar database management system preferred
4. Proficient user of MS Office suite products and expert user of MS Excel
5. High skilled organizationally to track and manage hundreds of different variables of tower sites
6. Strong sales and communication skills; strong cross-functional communication skills and proven executive and Board level presentation skills
7. Ability to train and effectively on-board new hires and lead team members
8. Competent user of Excel and proficient with other MS Office suite products
9. Ability to prioritize, time manage and multi-task with limited supervision and under firm deadlines
10. Ability to work in fast-paced, high-growth changing environment

Vertical Bridge is committed to a policy of equal employment and will not discriminate against an applicant or employee. Vertical Bridge is an Equal Employment Opportunity Employer M/F/D/V