Crown Advisors represents the real estate industry’s most sought after companies and positions including senior executives. Our clients trust us to find top quality candidates and we continually add new real estate, construction, and related opportunities to our list of active searches.
Active Searches
Chief Financial Officer
Location:
Kansas City, MO
Company Description:
Our client is a real estate private equity firm headquartered in Kansas City, MO. They are backed by one of the world’s largest investment managers with close to $1 trillion in assets under management. Since 2012, the company has invested in factory-built housing communities across the United States, specifically focused on detached single family homes in manufactured housing and build to rent communities.
Manufactured Housing
The company acquired its first manufactured housing community (MHC) in 2012 and has assembled a portfolio of approximately 5,000 home sites across seven states. The strategy is market driven to acquire and/or develop MHC assets and deliver steady returns through core-plus, value-add and opportunistic approaches utilizing efficient management and targeted capital expenditures.
Development
The development practice begins with a thorough, analytical-based approach focusing on home price, wage, and population trends. The process is designed to provide superior risk adjusted returns for clients. The firm’s development approach creates value by responsibly undertaking real estate projects that enhance their relationship with clients, customers, communities, and partners.
Full Service Real Estate Company
In order to fully integrate its businesses, our client launched a property management company in 2020, which now has approximately 80 employees, allowing for better operational transparency in a dedicated team, as well as accounting and HR resources to scale the portfolio. The focus is on providing steady and strong returns through stable cashflows.
Position Description:
SUMMARY: Our client is looking for a seasoned financial executive with strong experience in finance, accounting, legal, tax, risk management, corporate governance, strategic planning, and value creation. The ideal candidate will have excellent communication skills and the desire to work in a collaborative, entrepreneurial environment. This position represents a key leadership role within the company’s executive team.
DUTIES AND RESPONSIBILITIES: The Chief Financial Officer (CFO) will report to the President. This individual will be a proven executive and a strategic business thinker who can help drive the organization to the next level. He/She will play a critical role in all facets of the organization.
He/She will be tasked with growing the accounting, finance, and compliance teams, either as direct reports or through third party vendors. The CFO will serve on the executive team, recommending strategy based upon company capital, goals, and cash flow. The CFO will have direct responsibility for financial reporting, treasury, transactional accounting, asset management, tax, risk management, and financial modeling while ensuring the completion of timely financial, tax and statistical reports for management and investor use. Establishing processes and systems to facilitate the organization’s growth plan will be critical.
PRIMARY DUTIES
- Effectively integrate into the company and its culture.
- Assess and enhance existing processes and procedures associated with investor reporting and communications.
- Evaluate and enhance the current business model and metrics that measure the company’s performance.
- Oversee the organization’s day-to-day financial operations and accounting processes. Lead the development and ongoing improvement of the organization’s financial forecast and budgets while monitoring progress towards the attainment of financial objectives. Preside over the preparation of monthly, quarterly, and annual financial reports and related consolidations.
- Supply timely, accurate, and sophisticated analyses while evaluating the impact of long-range strategic planning efforts and the introduction of new initiatives. Provide strategic financial input plus negotiation support associated with the evaluation of potential property acquisitions, alliances, and investments.
- Maintain a lead position in negotiations with third parties and vendors that would include: partner relationships, insurance, employee benefits/retirement plans, etc. In addition, the CFO will coordinate and control legal expenditures including outside legal counsel, contract reviews and management, and other risk management activities.
- Enhance the timeliness and accuracy of the organization’s cash flow and management of the billing, receivables, and payables process. Optimize the handling of bank and deposit relationships and initiate appropriate strategies to assure a prudent cash position.
- Develop, implement, and enforce fiscal policies and procedures of the organization by way of systems that will improve overall financial management and operational efficiencies.
- Interact with ownership, limited partners, the external auditor(s) and business operations leaders to design, implement and execute effective internal control systems.
EDUCATION AND EXPERIENCE
- Bachelor’s degree in accounting, business or finance is required. A CPA designation is strongly preferred.
- Experience in commercial real estate investment, development, and/or construction industries.
- Strong operational financial experience, preferably within a growth environment and with scale.
- Demonstrated track record of structuring and implementing processes and controls in the finance functions to ensure highly reliable and predictable outcomes.
- Early career experience in public accounting will be advantageous.
- A minimum of 15 years of progressive experience leading and managing financial activities in an organization of similar size and scope.
- Preferred candidates will have experience working with large institutional limited partners (“LPs”).
PERSONAL CHARACTERISTICS
- A strategic advisor and a practical “doer.’
- A personal value system that encompasses high integrity, commitment to quality, a sense of mission, and similar qualities of the highest caliber in order to effectively match up with the values and culture of the company and its ownership.
- A team player who demonstrates a partnering attitude and capability to work with other associates throughout the organization in a positive and collaborative manner.
- Excellent negotiation and presentation skills and the ability to communicate effectively, both verbally and in writing, with superiors, colleagues, and individuals inside and outside the organization.
- Strong work ethic combined with natural, self-starter tendencies. Quality strategic business judgment with the knack to quickly assimilate information.
- Solid business acumen with a results-first mindset; the ability to deliver outcomes rather than just output.
- A high level of intelligence; analytical/conceptual problem solving, critical thinking, planning and organizational skills (i.e., good at setting and prioritizing goals).
- Excellent interpersonal skills, able to establish and develop instant credibility and respect.
To learn more about this position, contact: Margie Arcangelo | (239) 362-1335 | margie@crownsearch.com
Vice President, Florida Market Leader
Location:
Orlando, FL
Company Description:
Our client is a self-administered equity real estate investment trust that focuses on the development, acquisition, and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis on Florida, Texas, Arizona, California, and North Carolina. The Company’s strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply constrained submarkets. The current portfolio, including development projects and value-add acquisitions in lease-up and under construction, includes approximately 59 million square feet.
Position Description:
The Company has an opportunity for an experienced leader to oversee its industrial portfolio in Florida. The successful candidate will lead the Florida team responsible for the leasing and management of the 14 million square foot Florida portfolio, while also seeking new investment opportunities in both new and existing markets. Additionally, this position will have the opportunity to work closely with Construction Management on development projects in multiple markets. The position is ideally based in the Company’s largest Florida office located in Orlando.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Lead the Florida team including asset managers, construction manager, project manager, as well as the property management teams in four markets.
- Source land acquisitions for industrial development and assist in the entire development process including development leasing.
- Source building acquisitions.
- Underwrite transactions and development proformas.
- Negotiate Purchase and Sale Agreements.
- Maintain and cultivate the Company’s branding with ongoing broker relationships.
- Maximize total return for each asset through the analysis of property efficiencies and identifying opportunities for improved performance.
- Work closely with leasing agents, brokers, and outside counsel to negotiate LOIs, leases and lease renewal transactions.
- Manage and coach each market’s property management team to achieve or exceed Company operational objectives including customer satisfaction and asset profitability.
- Preparation of budgets, leasing plans, and capital expenditures programs for review by Senior Management.
- Prepare the necessary monthly, quarterly, and annual reporting for Senior Management.
- Review, analyze, and interpret market data to identify trends that may impact the performance of the portfolio, and work with Senior Management to develop and implement market plans that drive occupancy and revenue growth.
- Perform valuations of each asset on a quarterly basis, working with the Executive Vice President, to develop and implement strategic business plans for each asset that will govern its daily operations, position in the market, and ultimate disposition.
- Manage the capital improvement strategies and processes, including oversight of the construction management activities.
- Manage the due diligence and activities related to the acquisition and disposition of any properties.
Education & Experience
- Bachelor’s degree in business, real estate, economics, or related field; advanced degree a plus.
- A proven track record of success in commercial asset management, leasing or development.
Knowledge, Skills & Abilities
- Must have exposure to development, site acquisitions and existing building acquisitions.
- Solid understanding of financial terms and principles, with ability to conduct complex financial analysis.
- Existing broker relationships are highly beneficial.
- Excellent communication (both written and verbal) skills are required.
- Demonstrate sound judgment, ability to analyze and solve problems involving multiple factors in various situations.
- Strong interpersonal and customer service skills with the ability to maintain effective tenant relationships.
- Strong organizational skills with attention to detail.
- Proficient with all Microsoft applications and experience with property management software, preferably Yardi.
To learn more about this position, contact: Christine Pinkerton | (919) 679-9149 | cpinkerton@crownsearch.com
Director of Preconstruction
Location:
Washington, DC
Company Description:
Our client is a nationally recognized leader in multifamily development, innovation, and sustainability, creating world-class mixed-use developments in top MSAs in the U.S., driven by class-A multifamily rental housing. As one of the largest vertically integrated developer-builder- owner-operators in the U.S., they are a leader in both ground-up and adaptive reuse projects and have developed over $5B of projects over the last 15 years and own a $2B pre-construction development pipeline of approximately 2,500 units in Philadelphia and Washington, DC.
Position Description:
Our client is creating a new position of Director of Preconstruction. This position offers a long-term prospective pathway to become one of the senior-most construction executives in the company, with regular interaction with C-suite executives.
Our client owns two office-to-residential conversion projects in pre-development in Washington, DC totaling 1.8M square feet, the first of which is in the construction drawing phase and being actively bid to contractors. They are bidding both to general contractors and subcontractors directly and aim to have the work substantially bought out by the second quarter of 2024. The immediate responsibilities of the role are a successful buyout of the first project with a hands-on approach for each subcontractor, along with a direct engagement for potential direct subcontracts with trades following structure and envelope. The Director of Preconstruction will be the point of contact and face of the company for Washington, DC general contractors and subcontractors.
The medium-term goal of the DC activities is to grow the skillset, network, and reputation to directly field, contract, and manage all subcontractors on future DC construction projects (if the pool of existing general contractors is deemed not sufficient to meet the end cost and quality goals). To this end, our client expects to be in touch with every aspect and minutia of a hired GC’s scope and buyout to successfully manage the GC and have the relationship and ability to perform the same if called to do so. The Director of Preconstruction will be the vanguard of this expansion into Washington, DC; an enterprising individual who has field and office experience, combining leadership traits with the intimate knowledge of the costs which constitute each subcontractor’s scope.
The candidate may be based in either Washington, DC or Philadelphia, with at least 1-2 days per week spent in each Philadelphia and Washington, DC.
Critical skill sets for this role include:
- High level of comfort reading Architectural, Structural, MEP plans
- Ability to create scope sheets, building on a library of what has already been created
- Estimation and takeoff ability
- Ability to create a project budget, building on templates that have been created from past projects
- Knowledge of relevant unit value metrics for all major trades, and the ability to discern unit values resourcefully from subcontractors and dissecting bids
- Ability to create a thorough schedule of values for all trades, building on company library, to ensure proper cost loading and sectoring of the subcontract for billing and managing risk
Critical performance traits for this role include:
- Comfortable taking responsibility for a project and proactively engaging people and resources to achieve the goal of a fully contracted buyout within the budget constraints
- Salesmanship and persuasiveness in engaging valuable subcontractors (i.e. beyond the roster that every GC typically bids to) and engaging them in company’s project to competitively bid
- Ability to interact with smaller subcontractors without administrative staff
- Comfortable presenting both good and bad information, identifying risks along with solutions or mitigation measures
- An entrepreneurial spirit to push past roadblocks and industry norms, not settling for what an institutional GC or Subcontractor finds is comfortable and creating new solutions
To learn more about this position, contact: Jon Nowikowski | (412) 339-5376 | jnowikowski@crownsearch.com
EVP, Regional Market Leader
Location:
Northeast US
Company Description:
Our client is a full-service industrial real estate developer, investor and advisor, focusing on institutional-grade industrial properties. From acquisitions and joint ventures to development, property management and fund/asset management, the Company provides creative solutions for its customers and long-term value for its partners. With experience in 64 markets across North America and Europe, the Company has developed and acquired 273.1 million square feet (Q4-2022).
Position Description:
Our client is actively seeking an Executive Vice President (EVP) – Regional Market Leader to assume a pivotal role in leading and overseeing our operations in the Northeast, Mid-Atlantic and Midwest Region. This executive-level leadership position entails comprehensive responsibility for their business within the specified geographical area and reports directly to the President. The EVP – Regional Market Leader will serve as a dynamic leader, managing and directing a highly talented transaction, development and administrative team as well as managing all aspects of our business, including transactions, development, and leasing efforts. In addition to these responsibilities, the individual in this role will adopt a “player-coach” approach, actively engaging in the identification and pursuit of new opportunities to foster growth in the Northeast, Mid-Atlantic and Midwest Region.
Primary Job Functions
Leadership and Team Management:
- Provide visionary leadership to the Northeast, Mid-Atlantic and Midwest Region, setting strategic goals, and driving the execution of business plant to achieve them.
- Lead and oversee a high-performing transaction, development, and administrative team, fostering collaboration, growth, and excellence within the team.
Business Oversight and Growth Initiatives:
- Take full ownership of business operations in the specified geographical area, including transaction, development, and leasing efforts, ensuring they align with company objectives.
- Proactively identify and pursue new business opportunities to promote growth in the Northeast, Mid-Atlantic and Midwest Region, leveraging market knowledge and industry trends.
- Lead recommendations related to buy/sell hold decisions in conjunction with the Company’s leadership team.
- Build and maintain strong relationship with clients, partners, and key internal and external stakeholder, enhancing the company’s reputation and market presence.
- Oversee financial aspects of the region, including budgeting, forecasting, and financial performance analysis.
Primary Job Duties
- Manage and mentor all Associates within the region.
- Drive investment strategy for the region.
- Lead all search efforts for additional land site selection and land acquisition; work directly with landowners and local brokers.
- Develop and maintain relationships with customers, brokers, governmental officials, 3rd party consultants, economic development authorities, and industry associations in major markets.
- Ensure customer satisfaction and exceed customer’s expectations on each transaction and project.
- Coordinate proposals for acquisitions of land and buildings, leases, and build-to-suit projects with brokers and internal transaction and development team.
- Identify and structure option positions in attractive land opportunities.
- Lead all required due diligence related to transactions and development.
- Monitor competing developments.
- Negotiate and manage the leases and purchase and sale agreements with the transaction associates.
- Respond to RFP’s.
- Lead the transaction and development teams through planning, design, underwriting, investment committee approvals, and coordination with acquisition, finance, debt and disposition teams for all developments, including build-to-suits and speculative development projects.
- Lead all marketing efforts for the region.
Required Skills/Abilities:
- A leader with a proven track record of being results oriented with a strong sense of urgency and commitment to achieving these results.
- Strong, demonstrated management and leadership skills with the ability to manage “up and down” the organization.
- Hands on approach and ability to roll-up your sleeves, dive into the details, and demonstrate by example, not just delegation.
- Excellent negotiations skills with ability to obtain favorable terms for the Company while enhancing key relationships and empowering the internal team to transact and develop.
- Ability to manage deadline expectations across a team of independent transaction associates and development associates.
- Ability to successfully oversee the entire transaction and development process for complex industrial projects.
- Ability to handle confidential information and protect intellectual privacy.
- Strong organizational and analytical skills, with strong attention to detail.
- Excellent communication skills (verbal and written).
- Strong interpersonal skills with the ability to interact with executive level internal and external clients.
- Demonstrate a high level of professional demeanor, integrity, ethics, and leadership.
- Exceptional strategic planning and execution skills.
- Financial acumen and ability to manage budgets and financial performance effectively.
Education and Experience:
- Bachelor’s Degree in related field required, MBA or advanced degree a plus.
- Significant industrial real estate transaction experience with a demonstrated track record of excellence in sourcing, executing and profitably divesting industrial investments and managing teams is required.
- Demonstrated experience with building and supervising real estate operations, transaction, and development teams.
- Proven track record of leadership in a senior executive role.
- Strong and verifiable network of investors, brokers, lenders, and real estate professionals.
- Extensive knowledge of the Northeast, Mid-Atlantic and Midwest industrial market is preferred.
To learn more about this position, contact: Matthew McAulay | (704) 770-6110 | mmcaulay@crownsearch.com
Managing Director – Data Centers
Location:
Atlanta, GA
Company Description:
Our client is a privately owned national real estate investment, development, and management firm focused on office, life science, residential, industrial, hospitality, and retail uses. Their multi-faceted expertise sets the standard of excellence for developing high quality stand-alone and mixed-use developments. Each asset class is led by an individual asset leader and supported by the common execution and corporate infrastructure.
Position Description:
This position will be responsible for establishing the Data Center development business. Initially this business will be focused within the USA and may eventually expand across North America or a wider geography.
ESSENTIAL DUTIES AND RESPONSIBILITIES
The role will include (but not be limited to) the establishment, overall management, and profitability of the Data Center business, including the following specific tasks:
- Prepare a business strategy, ongoing annual business plans, and annual operating budgets.
- Recruit and manage an appropriate team to execute the strategy and annual business plan.
- Operate a profitable data center business and ensure current cash flow, long-term market value of assets, and overall enterprise value and profitability are maximized for all stakeholders.
- Represent the business to the data center community including brokers and other business stakeholders.
- Oversee deal sourcing, development, construction, and management of operations, and deal exits.
- Work with and leverage capital markets, construction, management, legal, accounting and all other team resources across the platform to maximize financial and business outcomes.
- Ensure that the reputation and credibility of the brand name is retained and enhanced within the real estate and stakeholder community.
REQUIRED EDUCATION, KNOWLEDGE, SKILLS & ABILITIES
- Data center development experience for a minimum of 15 years, including experience in determining target markets and locations, site sourcing, financial underwriting, ability to establish program, knowledge and network of consultants to determine building specifications, and familiarity and credibility with sources of equity and debt capital (the ability to raise capital is not essential)
- Undergraduate degree in finance, real estate, or related business field
- Collaborative approach, team player with a focus on analytical and problem-resolution
To learn more about this position, contact:
Vice President, Construction
Location:
Charlotte, NC
Company Description:
Our client is a best-in-class boutique development and investment company that specializes in the acquisition, design, and development of unique real estate assets that are primed for growth and value creation. With institutional partners and consultants, the team carefully shepherds every aspect of each investment, from architectural and zoning feasibility studies, through day-to-day construction management, to project completion and disposition. Based in Brooklyn NY and Charlotte NC, our client creates urban and often mixed-use projects with a focus on multifamily development and redevelopment.
Our client is seeking an experienced Vice President of Construction to join its Carolinas office in Charlotte, NC. This role will lead the oversite of construction and execution across the Southeast portfolio. The Charlotte office currently has four large multifamily and mixed-use projects in various stages of construction and planning and consisting of approximately 1,250 units and 40K SF of retail, with further growth planned across the Carolinas. This position is a leadership role, overseeing a large portfolio of construction activities and an internal team of Development Managers dedicated to each project.
Position Description:
The Vice President of Construction will report to the local Principal and head of Charlotte office and assume responsibility to manage, implement, and complete construction and execution activities within the Carolinas Region. This position represents our client in all respects of the construction process, from general contractor selection and GMP negotiation through construction and project closeout. External contacts, including customers, brokers, landowners, consultants, contractors, governmental officials, and staff view the Vice President of Construction as a leader and direct extension of our client.
Pre-Construction
- Interface with brokers, marketing, contractors, consultants, city/county officials, and other governmental entities and economic development personnel
- Assist development team with project schedules and construction schedule expectations
- Analyze and recommend early value engineering opportunities
- Recognize and lead opportunities to directly subcontract selected horizontal work – i.e. demolition, utility work, site work, etc.; develop subcontractor relationships for these activities
- Assist development team in formalizing budgets, schedules, and market assumptions for the financial model
- Understand entitlement process and/or rezoning if required
- Assist in obtain grading, foundation, and building permits as required by city
- Lead the general contractor interviewing and selection process and develop general contractor relationships in the market
- Once general contractor is selected, lead the Construction Management Agreement and GMP contract negotiation process; must be familiar with AIA contracts
- Assist communication with investment partners on general contractor selection, contract negotiation, and finalization
Financing
- Assist development team as needed with financing due diligence, checklists, etc.
- Develop relationship with bank inspector and attend site walks/inspections with Development Managers
- Track and complete post-closing issues as required; understand financing agreement processes
- Assist Development Managers with monthly draws as needed
Construction
- Work with city to expedite permitting and maintain city relationship through construction process
- Track pricing/bids and buyout process
- Find additional value engineering opportunities throughout construction phase
- Review and finalize construction contract
- Attend weekly job meetings and monitor job progress
- Oversee construction draw and requisition process with Development Managers; walk job site and meet with general contractor as needed to finalize and approve
- Facilitate owner decisions in a timely manner
- Negotiate utility connections, relocations, and costs
- Review and approve sub-contractor buy-out recommendations
- Update the Development Cost Summary on a monthly basis and track cost exposures
- Work with bank inspector to quickly process pay-applications
- Oversee, review, and negotiate all Change Orders with Development Managers
- Recognize construction issues before they arise to mitigate cost exposures and keep schedule on track
- Oversee project closeout and TCO process
- Work with property management and general contractor to expedite the punch-list process
- Conduct post-construction lesson learned discussion
- Review monthly cost reports
Required Skills/Abilities/Experience
- Effective written and verbal communicator who can operate within a wide spectrum of internal executives, municipal authorities, community groups, industry professionals, and brokers
- Expert knowledge of construction process, materials and building systems for Type III mid-rise multifamily wrap and podium style development, Type I high rise knowledge also preferred
- Ability to troubleshoot design and construction issues that arise during the course of construction document production as well as on-site field work
- Ability to lead a team and make quick decisions
- Outstanding interpersonal skills and the ability to work in a fast moving, demanding, and dynamic organization
- Ability to build and maintain relationships with a variety of professionals and consultants
- Must have the aptitude to efficiently and effectively act as a liaison between the key team members (Development & Construction)
- Must act in a professional manner inside of the work environment as well as outside
- Intuitive, creative, market-savvy with demonstrated capacity to recognize market trends
- Collaborative, team-oriented work style, which seeks the benefit of the company, and utilizes the best human resources available
- Willingness to travel across Carolinas as needed
- Bachelor’s degree required, preferably with a concentration in architecture, engineering or construction management
- Masters degree preferred in Real Estate Development, Construction, Architecture, Engineering, or related field
To learn more about this position, contact: Matthew McAulay | (704) 770-6110 | mmcaulay@crownsearch.com