Job Description
Company
Our client is a nationally recognized, market-leading real estate investor, developer and operator of mixed-use communities. They create high-quality, differentiated multifamily and commercial developments in many of the fastest growing markets in the United States. Since 1963, their development portfolio has included more than 80 multifamily communities, 24 million square feet of commercial space and 60 single family master-planned communities. Headquartered in Charlotte, NC, Crescent Communities has offices in Charlotte, Washington DC, Atlanta, Orlando, Nashville, Dallas, Denver, Phoenix and Salt Lake City.
Position
The position will oversee all aspects of the company’s investments in multifamily developments in Texas, with a core focus on the Dallas-Fort Worth and Austin markets, but also responsible for establishing the firm’s strategy and business in Houston and San Antonio, as appropriate. The role reports to the Executive Managing Director of Multifamily.
Responsibilities
- Drive the continuous growth of profitable multifamily development in Texas, including establishing annual and long-term goals for development production within the region and by market.
- Develop and maintain relationships in the Texas markets with key brokers, debt and equity providers, architects and engineers, land sellers, commercial developers and other stakeholders critical to market knowledge and investment opportunities.
- Source and lead the underwriting of new investment opportunities in Texas markets, thoughtfully creating the business plans for profitable developments.
- Assist with the creation of the annual business plan, projecting new Texas developments, capital requirements, income and G&A expenses for the region.
- Through personal execution and – with the growth of the region – via team leadership, ensure proper due diligence, entitlement, risk mitigation, design, etc for new developments, owning the full life cycle of a new development.
- Drawings upon the MD’s own professional experience, build and provide leadership / mentorship for the Texas team, supporting their individual professional growth in the areas such as:
- executing quality, profitable product
- making major investment decisions relating to diligence, entitlements, design, construction, operations and dispositions
- communication, collaboration and representation within the market.
- Forecast and collaborate with the team to ensure the region has the talent and human resources required to execute the near- and long-term business plans.
- Ensure the regional team knows and embodies Crescent’s values and vision.
- Collaborate with the team – including Crescent’s Capital Markets resources – to maintain and expand our investment and lending relationships.
- Ensure the region meets development and investment expectations and communicates issues and opportunities to Senior Leadership as well as the Board appropriately: including timely, accurate and compelling presentations to the Investment Committee.
- Help identify and develop solutions or mitigants for risks within the Texas investments and development platform.
- Actively engage in Crescent’s Multifamily Investment Committee, ensuring Texas investments are well-prepared for presentation as well as providing valuable feedback for East Region investments.
- As an executive leader within Crescent’s Multifamily team, support the continued evolution of the multifamily investment strategy, collaborating with Multifamily and Crescent’s Senior Leadership Team.
- Ensure the Texas team collaborates with Crescent’s Commercial (office, industrial and life-sciences) and Build-to-Rent Residential businesses to foster growth for the entire company.
Qualifications
- Proven record of sourcing and executing multifamily developments
- Demonstrated leadership skills managing employees and third-party partners
- Bachelor’s degree in business, finance, real estate development, or related field
- 10 years minimum experience acquiring/developing multifamily projects
Personal Skills & Attributes
- Extraordinary organizational skills and a record of timely and efficient completion of projects on-budget are essential.
- Excellent problem solving and creative skills and the strong ability to overcome obstacles, work creatively, and with sound judgment.
- A detail-oriented, quantitative approach to the business, coupled with the ability to assume a long-term owner’s perspective.
- Ability to gain the respect and cooperation of internal and external constituencies across a wide variety of disciplines, and to coordinate their efforts as necessary.
- Proven project planning and management skills, with ability to handle multiple projects and deadlines and generate detail-oriented work-product.
- Exceptional communication skills, both written and oral.
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