Vice President, Development

Summary

Realterm is a leader in supply-chain, high-flow-through industrial real estate.  We own, operate, develop, and invest in a portfolio of over 45 million square feet of real estate and related infrastructure with $7.0+ billion in assets under management.  Realterm’s core strategies include Realterm Logistics, Aeroterm, and Indospace, each being a leader in its respective area of commercial real estate. 

The VP Development position will primarily focus on Development opportunities within Realterm Logistics with general support for development of Aeroterm projects.  Specifically, this position will take a leadership and oversight role in the day-to-day management of development projects across all phases, from pre-construction through construction to final close-out / transition-to-operations.  Responsibilities will include a) development opportunity prospecting, b) preliminary development evaluation and analysis, c) detailed underwriting / financial modeling, d) committee reporting and approvals, e) joint venture structuring and negotiation, f) site acquisition, g) RFP responses, h) design review and budgeting, i) entitlements and permitting, j) construction oversight, and k) handover to the Asset Management teams. 

In addition to reporting to the Senior Vice President, Development, this role will have significant contact with Realterm Senior Leadership and members of the Investments, Construction, Asset Management, and Analyst teams.

Essential Duties and Responsibilities

• Identify and source, in support of the Investments team, new development opportunities through land acquisition, joint ventures with other developers, responses to tenant led RFPs, etc.
• Manage day-to-day activities of development projects, including the oversight of project contractors, consultants, and/or JV partners, and coordinate and lead all related development meetings.
• Lead and work closely with Investment Analyst team members supporting the underwriting and preparation of project due diligence and feasibility analysis of potential development projects, including Investment Committee packages.
• Lead negotiation, with support of counsel, of legal documents including joint venture structure documents, purchase and sale agreements, ground leases, pre-development agreements, professional service agreements with consultants and contractors, tenant leases, etc.
• Maintain and track project schedule, ensuring milestones are met on time and within budget.
• Prepare and track development budgets related to assigned projects.
• Prepare and present project status reports to Senior Vice President, Development, Fund Managers, other key members of Realterm Leadership, the Realterm Investment Committee, and other stakeholders.
• Lead entitlement process and secure appropriate approvals, certifications, permits, etc. from city and other government agencies, as required.
• Review design drawings with Construction team for quality and feasibility and oversee construction progress for quality of execution.
• Manage all project documentation in collaboration with the Construction team and Investment Analyst team including discretionary and non-discretionary approvals, agency releases / declarations / determinations, easements, covenants, tract maps, construction documents, A/E design and engineering plans and specifications, contracts/change orders, closeout documentation, etc.

Competencies

Accountability

Character, Trust, Integrity

Planning, Decision-Making & Initiative

Development & Learning

Collaboration, Communication & Teamwork

Qualifications

• Demonstrated proficiency in Microsoft Office applications and Argus.
• Demonstrated proficiency in using SharePoint or other document control software.
• Demonstrated proficiency in the use of (or ability to learn) Project Management software.

Education and/or Experience

• Bachelor’s degree in Real Estate, Finance, Economics, Business, or a related field.

• Advanced Degree preferred (MBA, MS)
• Minimum of seven years of experience in real estate development and/or construction, with demonstrated knowledge of the real estate development and construction processes, including analytical understanding of real estate investments.
• Demonstrated prior experience in all stages of real estate development including financial analysis, budgeting, legal documentation, design, entitlement, financing, construction, leasing, delivery, etc.

Work Environment & Physical Demands
This position will work in a general office setting and may require travel, up to 40% of time annually, to remote office locations or project sites based on organizational / business needs.  As is customary for a general office position, the candidate must be able to remain in a stationary position for most of the workday, sitting at a desk, consistently operating a computer. The person in this position must be able to access file cabinets and office machinery (to include a computer, copier, and fax machine). On occasion, may need to lift boxes of up to 10 lbs.

Realterm US, Inc. is an equal opportunity employer, as we value and respect diversity. We encourage diversity in ideas, opinions, experiences and identities. We do not discriminate in our employment practices based upon protected class, to include race, color, religion, sex, national origin, age, disability or genetic information.