Commercial Real Estate
Reports to: Vice President of Development
Location: Minneapolis, MN
Status: Full-time, Exempt
Schafer Richardson, LLC is a real estate investment company providing development, management, leasing, and construction services to its commercial and multifamily real estate portfolio in the Upper Midwest.
The Development Manager will work to guide and drive forward multiple commercial, multifamily (market rate and affordable), and mixed-use projects. With project sizes ranging from $5 million to $100 million, the Development Manager will make day-to-day decisions in line with Schafer Richardson investment goals and objectives. The Development Manager must be highly organized and able to drive projects forward, creatively problem-solve, multi-task, and prioritize in a fast-paced environment.
DUTIES AND RESPONSIBILITIES The job description below outlines the primary responsibilities and is not intended to be all encompassing. Other duties may be assigned, as needed.
• Source and analyze new development opportunities.
• Engage actively in networking with brokers and other parties for deal sourcing.
• Create, maintain, and manage project financial models, budgets, and cashflow forecasts.
• Coordinate market studies, site surveys, environmental reports, traffic studies, and other third-party reports through internal and external underwriting processes.
• Execute due diligence review of projects in partnership with internal and external parties.
• Produce and implement timelines and action plans with critical paths & milestones, coordinating staff & outside parties.
• Cooperate with internal and external legal counsel in the preparation and review of legal documents.
• Manage political, municipal, and other regulatory approval processes including land use, development review, subsidy and grant applications, and permitting.
• Prepare presentations and attend public meetings to stakeholders and community groups.
• Work with Vice President of Development to select Architect, General Contractor, Property Management and other project consultants.
• Lead design efforts including site & building programming, unit layouts, sustainability features, and municipal & financial partner requirements.
• Negotiate, coordinate, and manage major contracts and work thereunder including Architect, General Contractor, and other development consultants.
• Represent ownership at Owner-Architect-Contractor (OAC) meetings to review draws, change orders, & field issues.
• Manage marketing and brand identity for assigned projects.
• Work with leasing team and oversee lease up for assigned projects.
• Coordinate and manage project financing in partnership with Vice President of Development.
• Work in partnership with Vice President of Development on sourcing financing and equity.
• Follow organizational processes, project reporting, and risk mitigation measures.
• Execute and ensure compliance with outside reporting and other requirements.
• Implement department plan in coordination with other team members.
• Three to five years of prior commercial and/or multifamily real estate development experience preferred.
• A four-year college degree is required with major course work in real estate, finance, engineering, business administration, planning, architecture, or another related field. Additional relevant experience may substitute.
• Strong financial analysis skills and experience modeling in Excel.
• Knowledge of funding sources including but not limited to, Federal and State Low Income Housing Tax Credits, Federal and State Historic Tax Credits, Tax Increment Financing, and Conventional Financing.
• Positively represent the Schafer Richardson real estate brand and develop strong relationships with project stakeholders.
• Ability to work independently and exercise sound judgement when making decisions and escalating issues.
• Ability to manage multiple projects effectively with demonstrated ability to handle a broad array of tasks simultaneously.
• Must be analytical, detail-oriented, and have strong organization and time management skills.
• Effective oral and written communication skills.
• Demonstrated success working in a team environment.
• Must be team-oriented and flexible in assuming new responsibilities as they arise.
• Demonstrated ability to solve complex problems.
• Demonstrated ability to read, understand, and apply complex real estate documents including agreements/contracts (AIA forms in particular), construction & engineering drawings/specifications, leases, work letters, surveys, and drawings.
• Proficiency in MS Office programs including Word, Excel, Power Point, etc.
• Ability to attend occasional evening meetings and travel to markets outside of the Twin Cities.
• Travel will be up to 10%.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to operate a computer at a desk for a period of time; move about the office to access files, conference rooms, and other office productivity machinery (i.e. computer, copy, fax and printer); and attend meetings outside of the office. The person in this position frequently communicates with staff, vendors and customers and must be able to exchange and communicate accurate information in these situations. The employee must occasionally lift and/or move up to 25 pounds.
At Schafer Richardson, our team works hard every day to ensure that our customers and clients receive the highest level of services available. Customer service and client satisfaction are our primary goals. If you believe your skills and experience are aligned with our team and this opportunity, please send your resume and salary requirements to:
ATTN: Human Resources
900 North Third Street
Minneapolis, MN 55401