Macdonald & Company is pleased to be exclusively partnered with a national developer to find and appoint a Director of Land Acquisition to lead the growth of their Multifamily pipeline in Austin, TX. This will be the first hire in the region for the group as they look to expand their reach and utilize their strong balance sheet & track record in the space.
Opportunity:
The Director of Land Acquisitions will concentrate on the Austin region, with a primary focus on identifying, entitling, and securing new multifamily development opportunities. This role is crucial in ensuring that the company's business plan and targets are achieved. The Director will be tasked with building and maintaining a robust deal pipeline.
Responsibilities:
Deal Sourcing
- Responsible for sourcing new deals in Austin to help fill the regions business plan goals
- Research development opportunities
- Cultivate relationships with Broker community
- Direct source development opportunities through strategic avenues
- Direct, review, and confirm underwriting from Development Associates/Analysts for local assumptions
- Understand different structures to capitalize affordable housing in public private partnerships with PFCs and HFCs
Entitlements
- Accountable for submittals, timelines, interface with elected officials and city staff to negotiate and secure entitlements for new developments
Site Control
- Prepare and submit letters of intent
- Negotiate and secure main economic terms with land sellers
- Lead land purchase contract preparation, negotiation, and execution
- Ensure that all aspects and obligations of land purchase contracts are met appropriately
Investment Committee Approval
- Lead the development of investment packages and pitches for presentation to the Investment Committee
- Manage and verify/confirm all aspects of underwriting analysis
- Assist in the oversight for the creation and preparation of power point presentation for Investment Committee
- Create the investment vision and ensure vision is accurately translated through the Investment Committee presentation
Market Research
- Train, manage and verify analyst's efforts in tracking market economics for new multi-family development sites and stabilized asset sales including return on cost and cap rate metrics
- Build networking capabilities through attending industry conferences and meeting people in the broker community.
Land Closing, Project Capitalization and Disposition
- Assist in other functions as needed during capital raise and disposition process (e.g. preparation of capital and disposition offering documents and conducting site tours)