Senior Vice President of Development - Weichert, Realtors

Weichert Development Company is hiring a Senior Vice President in Morris Plains, NJ. The Senior Vice President of Development is responsible for identifying, securing, and managing the completion of various real estate development project opportunities and contributing to the overall profitability and goals of the company. This position will oversee all stages of the development process to create positive margin returns to the company. All actions will be performed in a manner consistent with the goals and objectives of the company’s vision, values, and strategic plan.

Job responsibilities include, but are not limited to, the following:

Strategy & Planning

• Assists with planning the overall strategy for the company and development projects, with particular focus on mixed-use and multifamily properties.
• Stays abreast of current trends related to the company’s products and services and anticipates future trends likely to have an impact.
• Analyzes opportunities and threats with regard to the real estate market, municipal or regional growth, legislation, transportation, consumer tastes, development trends, and local economic and business trends.

Business Development & Acquisitions

• Evaluates and determines land selection criteria to fulfill company business strategies.
• Identifies real estate development opportunities through outreach to property owners, brokers, and professional contacts and keeping abreast of local and regional news.
• Evaluates the market and financial feasibility of proposed projects.
• Prepares and negotiates transaction structures, letters of intent, and purchase and sale agreements.
• Maintains successful relationships with and promotes company image to property owners, real estate brokers, consultants, governmental bodies, attorneys, and other real estate professionals.
• Conducts proper due diligence on all properties to mitigate project risk.

Project Management

• Obtains necessary governmental approvals and/or variances from municipal boards or commissions.
• Oversees the final architectural/structural/MEP design, financing, permitting, construction, marketing, lease up, and dispositions of multiple real estate product types.
• Directs and coordinates the activities of engineers, architects, the construction division, the asset management/leasing division, finance division, and other professionals to ensure adherence to plan in terms of project schedule, cost, quality, and marketability.
• Maintains project plans with critical target dates, contract summaries, and periodic market analyses.
• Acts as an owner's representative, maintaining communication and interfaces with all relevant parties including public agencies, community groups, and investors/owners.

Financial Management

• Develops specific financial and business plans for each project, including marketing goals, cash flow requirements, project proforma, and comprehensive budget estimates.
• Assists team members with capital market activities, engaging with prospective equity and debt partners and conducting local market tours as needed.
• Maintains comprehensive project budgets in conjunction with project team and tracks ongoing project financial performance.
• Negotiates vendor contracts in a professional, timely, cost effective, and profitable manner.
• Oversees project funding and disbursement requirements in conjunction with project accountants.

General Administrative

• Manages a standard of care of company assets that is prudent, proactive, and contributes to the performance and value of the company.
• Promotes a culture that reflects the company’s values, encourages superior performance and rewards productivity.
• Provides direction to real estate team members, motivating and supervising them by means of assisting and coaching, in order to promote their professional growth and performance.
• Maintains successful relationships with and promotes company image to general contractors, banks, real estate brokers, consultants, governmental bodies, attorneys, and other real estate professionals.
• Performs other duties as assigned.

Requirements

The ideal candidate will meet the following requirements:

• Bachelor’s degree (BA/BS) in Finance, Business, Management, or related field; or equivalent, relevant experience and knowledge
• MBA Preferred
• Licensing as real estate salesperson/broker a plus
• Minimum of ten (10) years’ experience in the real estate development industry
• Strong working knowledge of commercial construction practices and development transaction structures
• Excellent business development, leadership, project management, organizational, and analytical skills
• Effective problem solving and mediation skills
• Excellent interpersonal, verbal, and written communication skills
• Strong attention to detail
• Basic math skills including addition, subtraction, multiplication, division, percentages and fractions
• Knowledge and ability to use typical office equipment (PC, calculator, fax machine, etc.)