Company: CGI Real Estate Investment Strategies
Position: SVP of Development
Location: Georgia or Florida-Fully Remote
Who We Are:
We are a growing boutique real estate investment and development firm based in Los Angeles with a mixed asset portfolio which includes but is not limited to; multifamily, extended stay corporate housing, and retail located throughout California, Atlanta, Orlando, and key cities nationwide. We are adding to our team due to growth The SVP is responsible for the investment process of sourcing land investments along with carrying through the land to the entitlement process up to breaking ground. The development professional has primary responsibility, authority, and accountability for sourcing, underwriting, negotiating, structuring, closing of acquisitions, and developing in accordance with the current investment criteria and portfolio demands of CGI+ Strategies.
The primary role will be evaluating and underwriting potential new multifamily investment opportunities in the greater Atlanta area. The evaluation process may include, but is not limited to, the following activities: reviewing P&L statements, rent rolls, and tax statements; researching and analyze demographic, economic, and real estate market data to recognize market trends in order to support all underwriting assumptions with a high level of certainty; communication with those parties familiar with the asset and market (investment sales brokers, lenders, property managers, tax advisors, attorneys, appraisers, and other third party service providers).
Participate in the development of strategic plan, policies and operating procedures, and annual plans and budget.
- Review and evaluate market data and recommend markets and sub-markets in which to target land acquisitions in the Southeast.
- Close on respective land investments and manage the development process up to entitlement/permitting.
- Deal criteria of minimum of 100 units and minimum $50M per deal; deploy $75M to $100M per year.
- Manage and cultivate existing relationships actively maintain relationships with key strategic partners and deal sources, including Brokers, Lenders, Contractors, Developers, and all others involved in land development and acquisitions.
- Work with CFO, CEO, CIO and capital markets group to facilitate capital formation for each investment and for assets in the portfolio.
- Negotiate with seller and seller representatives.
- Lead the annual budget, business planning, and reforecasting process for each asset during development
- Due diligence; develop business plan for the subject land area.
- Manage the closing and provide appropriate post-closing transitional support.
- Lead efforts to develop and execute on our growth plan, working closely with the key Principal.
What You’ll Need To Succeed:
- Four-year college or university degree required with 4+ years related work experience in land acquisitions and development/entitlement; Master’s degree in finance, Real Estate, or Business is desirable.
- Key understanding of market dynamics and fundamentals.
- Creative thinker that can see asset potential that is not straight forward.
What We Offer In Return:
- Professional development and growth opportunities.
- Generous time off policies; holidays, vacation, one additional week off during holiday season and sick leave.
- In addition to traditional benefits (Medical, Dental, Vision) we offer retirement savings plan, Group Life and AD&D.
- Fully Remote. Must be in Georgia or Florida.