nnHirewell has been exclusively retained by a prestigious leading Developer of Mixed Commercial Real Estate assets to search for a SVP of Operations & Development.
This position, located in Los Angeles, will be responsible for the overall performance of the portfolio which includes office, retail and multifamily properties.
Specific functions for this role include: Strategy and Planning, Leasing/Management, Construction Management/Development, and Sales/Refinancing.
This position requires 10+ years of similar experience and a bachelor’s degree in real estate or a related discipline.nn nn n nn nn RESPONSIBILITIES nn nn n nn nnStrategy and Planningnn Establish performance goals in alignment with strategy and ensuring goals are communicated and met by each member of the team within established timeframes.
Participate in the development of property strategy and goals providing a plan for maximizing returns for each asset and the overall portfolio.
Communicate and coach team members so they are productive contributors to the project.
nn n nn nnLeasing/Managementnn Lead the asset’s leasing efforts to achieve maximum portfolio occupancy while meeting lease team objectives withing the business plan.
This will involve negotiating with prospective tenants, renewals, coordinating construction efforts, and drafting leases.
Visit assets to evaluate on-site staff, physical condition, market fundamentals, status in the market, and explore opportunities to improve the asset.
Work with accounting to review monthly accruals/ receivables/ payables and make sure the operations of the property are properly reflected in the financial reporting.
Approve all invoice expenditures and expenses for the portfolio.
Interface with lenders in various aspects such as, periodic portfolio updates, seeking lease approvals, seeking deviations outside of the loan documents and facilitating the loan draw process.
Provide Strategic recommendations to maximize returns or correct deviations to meet expectations communicated to investors.
Provide quarterly updates highlighting achievements, results and deviations from the annual budget.
Oversee monthly reporting to senior management explaining the portfolio’s results and drivers of variances.
Review monthly financial statements and property performance metrics to ensure the portfolio is performing to the annual business plan.
This includes review of the monthly income statement, cash flow statement, balance sheet, AR collection, rent roll, occupancy, leasing activity, capital expenditure, and project level returns.
nn n nn nn Sale/Refinancing Processnn Define a clear sales strategy and exit timeline/ process for property.
Execute investment exit strategy.
This will involve researching, interviewing, and selecting the appropriate broker and negotiating the listing agreement.
Oversee the sales process by negotiating the sales LOI, negotiating the purchase and sales document, providing due diligence materials, obtaining estoppels, notifying the lender and closing the transaction within targeted deadlines of the contract.
nn n nn nnConstruction Management/Developmentnn Oversee and manage architectural design, engineering, entitlements, permitting, and construction for ground up development projects renovation projects, and tenant improvements.
In House general contractor will report to you Responsible for monitoring, tracking, and reviewing operational expenses and construction costs for optimal performance.
Obtain market benchmark standards and/or create internal standards for cost comparison.
Develop and execute a rolling capital plan and forecast for construction and design projects.
nn n nn nn SKILLS AND QUALIFICATIONSnn BS/BA degree required; MBA or other advanced degree preferred Minimum of 7-10 years of relevant commercial real estate experience Minimum of 5 years in a VP asset management role Financial literacy regarding balance sheets, income and cash flow statements.
Solid understanding of property valuation techniques and discounted cash flow.
Proficient ability to read and interpret legal documents such as leases, loans and JV agreements.
Collaborative leader with the ability to guide a team of construction, accounting, leasing and property management personnel towards achieving portfolio objectives.
Proactive mindset with the ability to plan ahead and prevent problems before they happen Negotiating experience with a proven track recoding of finding common ground and bridging differences to reach agreement with all parties A “can do” attitude to overcome occasional setbacks and breakdown monumental tasks Detailed oriented approach for administrative tasks such as organizing important files, legal documents and reports Multitasker that can handle many projects at the same time Excellent written and verbal communication skills with the ability to effectively communicate complex issues Travel required associated with assets outside of Southern California