Definition of a Developer
After the Great Recession, there was a common view that development was dead for a decade, down for the count, and with the after effects of the crash still being felt, that view remains in the minds of most investors and financiers. However, developers used to be defined as resilient, optimistic, determined to find a way or make one, and if you gave them a dollar and they would dig a hole. Remember that view? Well interestingly, in premium markets such as New York City; Washington, DC; and a few others; where economics have rebounded, cranes are in the air and plans are on the drawing board for the development of a new round of premium high-rise commercial and residential properties. Perhaps the most telling news is that New York’s Harry Macklowe, winner of the biggest NYC crash award, is back in the fray positioning himself on a Park Avenue development involving a site that he “lost” when his empire went sideways. He’s now back in the middle of it with uncertain economics, but as we all know, give the developer an inch and he’ll run the deal. The bottom-line is that development is rousing from its long sleep and recruiting activity is beginning to gather steam. And just maybe, if Donald Trump ends up in the White House, we’ll see legislation providing a whole host of incentives for developers! God Bless (Save?) America.
Tony LoPinto is a senior client partner and head of Korn//Ferry International’s Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.
Job OpportunitiesCB RICHARD ELLIS
Client Services Account Representative
(BOSTON) The representative will be responsible for identifying and maintaining a prospect pipeline and working with them to become clients; conducting in-person and web-based prospect and client presentations to senior level executives; identifying value-add/consulting opportunities; and developing client relationships and proactively managing the contract renewal process; among other duties.
THE SIEGEL GROUP NEVADA, INC.
Real Estate CFO
(LAS VEGAS) The CFO will be responsible for oversight of the preparation of financial reports/budgets and general ledger. Implement and strengthen internal controls and accounting infrastructure to keep pace with growth strategy; lead real estate financings for both development projects and existing property portfolio including managing legal documentation, negotiations with lenders, and deal structuring; and prepare property tax returns in conjunction with outside accountants; among other duties.
RICHMAN PROPERTY SERVICES, INC.
Regional Manager
(GREENWICH, CT) The regional manager will oversee all aspects of management of the apartment community portfolio and will be responsible for the implementation of comprehensive business plans, initiatives, and strategies that promote the optimum achievement of operational, financial, and overall performance of the assigned portfolio; among other duties.
RUSSELL INVESTMENTS
Research Analyst – Real Estate
(SAN DIEGO) The analyst will support research program for US open and closed end real estate funds; monitor the performance and investment activities of the funds; attend fund meetings as requested; participate in quarterly conference calls with fund managers; and provide support to other Russell Staff clients regarding the assigned funds and market conditions; among other duties.
CB RICHARD ELLIS
Director, Strategic Consulting
(REDMOND, WA) The director will understand and is conversant with space management process, tools and outputs and reviews and approves key utilization statistics; bring strategic concepts and portfolio planning practices and efficient real estate usage, such as portfolio market analysis; lead initiative support from business case development through rollout; and be responsible for overseeing delivery of real estate strategies delivering highly utilized real estate portfolios; among other duties.
CORPORATE OFFICE PROPERTIES TRUST
Project Manager – Construction
(HUNTSVILLE, AL) The project manager will be responsible for managing general contractors during all aspects of building shell construction and tenant improvements for projects and business park infrastructure improvements of a moderately complex nature from beginning to end with direct accountability for project execution while leading a team to accomplish specific objectives within a prescribed time frame and funding parameters; among other duties.
REGENT PROPERTIES
Director of Land Development
(LOS ANGELES) The director will manage all aspects of a disciplined, orderly program of land development; create land development cost estimates, proformas, budgets and schedules; coordinate the workflow and activities of project land development field operations; and review design documents, site plans, improvement plans and plats/tract and parcel maps for project coordination and accuracy; among other duties.
RREEF
Portfolio Analyst
(CHICAGO) The analyst will assist in the appraisal process by working with independent appraisers, completing in-house valuations and analyzing the results; assist in preparation of the annual investment plan and in the development of hold/sell recommendations; prepare disposition analysis, investment committee presentations and provide information for sale and financing packages; and assist in the preparation of materials for quarterly fund and client meetings; among other duties.
No more than one submission per company will be considered per week.
Submissions with multiple names will be capped at three for coverage in Executive Watch.
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