Development Manager
Company: Ram Realty Advisors LLC
Location: Chapel Hill
Posted on: August 7, 2022
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Job Description:
Ram Realty Advisors, LLC (Ram) is a registered investment
advisor that invests on behalf of a series of private equity funds
and partnerships with co-mingled funds from institutions, plan
sponsors and high net worth individuals. Through these funds and
partnerships Ram acquires, develops, manages and finances retail
and multifamily properties in the Southeast. We pursue the
acquisition, development, and redevelopment of commercial,
multifamily and mixed-use real estate. Target markets include, but
are not limited to; South Florida, Tampa Bay, Orlando,
Raleigh/Durham, Charlotte, Nashville and Atlanta. Our strategy
includes ground-up development, adaptive re-use, and the
acquisition and redevelopment of existing assets. Since 1996 the
company has deployed in excess of $3.2 billion in real estate
transactions.Ram is seeking a Development Manager to join their
team in Chapel Hill, NC. The Development Manager, with support from
the Vice President of Development, will organize all aspects of the
development process for assigned projects, beginning with
conceptualization and ending with successful turnover to the asset
management team. They will collaborate with team members across
multiple disciplines (i.e. asset management, construction, other
developers, acquisitions, finance, etc.) to solicit valuable input
and build their expertise in each area of the development process.
While the Company has internal construction project management,
finance, legal, and asset management resources, the Development
Manager maintains bottom-line responsibility for successful project
completion.Create-- Actively participate in pipeline review to
maximize efficiency of acquisition efforts.-- Provide timely
preliminary feedback based upon industry knowledge, market and
sub-market dynamics, design trends, and project cost information.--
Partner with internal leadership and acquisition teams to cultivate
relationships with property owners, civic organizations, government
officials, retailers (if applicable), other developers, and the
brokerage community.-- Participate in the creation of the overall
development concept with a specific focus on target customer(s),
project identity and market positioning.-- Lead the initial
planning process, including direction of conceptual design and
evaluation of alternatives in the context of (a) potential
entitlement challenges, (b) market conditions, and (c) required
investment returns.-- Lead proforma underwriting to ascertain
viability and consistency with investment objectives.Analyze--
Direct the due diligence process, including selection and
management of consultants and evaluation of reports (e.g., survey,
environmental). Identify risks, mitigation strategies, and impact
to projected investment returns.-- Direct all pre-development
activities with 3rd party professionals (e.g., A&E),
specifically including pre-closing design and entitlement work,
resolution of due diligence issues, and satisfaction of closing
contingencies (contractual and imposed by Investment Committee).--
Directly communicate with local citizen groups, elected officials,
and government staff as part of the entitlement process. The
Development Manager, along with support from the Vice President of
Development, will be the primary community representative for the
Company and project(s).-- Coordinate outside counsel (with the help
of the Company's General Counsel) regarding contracting and
closing; assist the Company's Vice President of Finance as needed
to facilitate closing of debt financing.-- Prepare requests to the
Investment Committee for capital investment and pre-development
expenditures. Efficiently and clearly present (i.e., advocate and
defend) key facts, strategic vision, challenges, risks, and
investment considerations.Execute-- Provide leadership to project
team and maintain comprehensive working knowledge of construction
progress.-- Throughout the entire process, maintain a basic
understanding of all relevant documents (e.g., contracts,
construction drawings, easements, leases, etc.).-- Plan, organize,
and conduct regular project team meetings to maximize likelihood of
achieving schedule, budget, and quality objectives.-- Identify
challenges and opportunities that may arise during the development
(and pre-development) process; facilitate efficient, creative, and
thoughtful solutions. While professional resources may be relied
upon for technical advice, the Development Manager will evaluate
the impact on the business plan and projected returns, consult with
internal resources, and provide creative solutions and alternatives
for potential deal challenges.-- Prepare monthly reports, including
updates regarding budget, schedule, and market conditions. Evaluate
potential impacts to business plan and investment returns and
communicate same to Company leadership.-- Collaborate with the
Asset Management Team throughout the entire process, specifically
including creation and execution of marketing/leasing plans,
consultation regarding potential change orders (i.e., scope or
quality changes), and other key strategic decisions related to the
business plan.-- Upon completion, ensure a smooth transition to the
assigned Asset Manager and 3rd party property management firm.Lead
-- Promote collaboration across multiple disciplines (i.e. asset
management, construction, other developers, acquisitions, finance,
etc.) to solicit valuable input; ensure that team members are
well-informed. Encourage active dialogue, open debate, and a
healthy exchange of ideas.-- Provide leadership, mentoring,
professional guidance, and direction to other team members as
assigned (e.g., Analysts, Development Associates, Construction
Project Managers, etc.). Where direct supervision of junior
development professionals is involved, provide meaningful
opportunities to learn and be challenged, and offer constructive
feedback to support their growth.-- Participate in the periodic
review of investment strategy and in presentations to the Company's
investors.These requirements represent the education, knowledge,
skill, certifications/licensure and/or ability required to perform
the job satisfactorily. Reasonable accommodations may be made to
enable individuals with disabilities to perform the essential
duties noted above.-- An undergraduate degree, preferably with an
engineering, construction, real estate, architecture, or business
major. An MBA or advanced degree with an emphasis on real estate
development or construction is a plus.-- Minimum of five years of
hands-on real estate experience preferably with a focus on
multifamily, retail, and/or mixed-use. While the industry
experience likely is not limited to the development role, the
candidate should have progressive accomplishments that demonstrate
increased responsibility in a variety of related functions (e.g.,
site acquisition, design & permitting, construction, etc.).--
Proficiency with Microsoft Excel as the Development Manager will
produce, review, and analyze relatively complex project budgets and
financial projections.-- Strong project management experience,
including selecting, contracting, and managing consultants, design
professionals and general contractors, preferably for projects with
a total capitalization of at least $40 million.-- Must be able to
analyze and interpret econometric research, government/zoning
regulations, conceptual design plans and specifications, and basic
real estate related legal documents. Direct experience negotiating
development related contracts, procuring entitlements, and sourcing
acquisitions is highly preferred.Skills: The Development Manager
will have a general working knowledge of the different disciplines
required to fully execute a project. It is unrealistic, however, to
expect the Development Manager to be an expert in each part of the
process. As a result, there are key leadership and managerial
skills that must be cultivated to successfully fulfill the role:--
Analytical Skills - strong attention-to-detail; evaluation of
complex financial projections; consideration of technical issues,
market conditions, and impact to projected risk-adjusted investment
returns.-- Critical Thinking - evaluation of alternative concepts;
assess and discern competing opinions and facts; synthesize varied
financial scenarios with a specific focus on the relationship
between risk and reward.-- Organizational Skills - management of
multiple projects and competing priorities; organize direct
reports, other internal team members and outside consultants in
connection with contractual and other schedule constraints.--
Communication Skills - both in writing and verbally, preferably
including experience with the following: (a) presenting information
to a prospective investor, lender, or investment committee, (b)
advocating for a project in front of a community group or elected
officials, and (c) participating in professional forums. The
ability to actively listen is equally, if not more, important.
Varied constituencies will be encountered during the development
process, all of which must be treated with respect.-- Interpersonal
Skills - including social intelligence, situational awareness, and
political acumen. Many of the challenges faced during the process
will require strong interpersonal skills, including
problem-solving, conflict resolution, and an ability to effectively
persuade and influence varied constituencies.-- Leadership Skills -
motivating internal and external team members to achieve their
highest potential; fostering a culture of teamwork (i.e., leading
by example) toward a clear and common objective.These
characteristics and skills are essential for success in this
role:-- Excellent communication skills, both written and verbal.--
Strong attention to detail and the ability to work independently
and within a team environment, paying close attention to the
quality of deliverables.-- Highly organized, methodical, and
process oriented.-- Excellent time management skills with the
ability to effectively manage multiple priorities and meet
deadlines.-- Ability to travel as needed for Investor meetings.--
Ability to read, analyze, and interpret financial statements, real
estate econometric research reports, government/zoning regulations,
and financing structures.These characteristics are highly valued
throughout the Company and essential for all team members:-- High
degree of professionalism.-- Commitment to quality and a constant
desire for improvement.-- Being open-minded and willing to learn.--
Humility and an ability to admit I don't know or I made a
mistake.-- Knowing when and how to ask for help.-- Adaptability and
flexibility.-- A deep belief in the importance of putting the team
first.-- A strong sense of respect for self and others.-- An
unwavering commitment to integrity (no matter the perceived
short-term cost).Please note: This description is not designed to
contain a comprehensive list of duties and responsibilities that
may be required of the employee. Duties and responsibilities may
change at any time with or without notice.PI187973411
Keywords: Ram Realty Advisors LLC, Chapel Hill , Development Manager, Executive , Chapel Hill, North Carolina
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