This position is accountable for leading distinct projects within the purview of the Investments team to (i) grow our client’s commercial real estate (CRE) portfolio through acquisition of CRE assets in Hawaii, (ii) harvest value from our client’s CRE portfolio through selective dispositions, including the disposition of our client’s remaining CRE assets in the U.S. Mainland, (iii) optimize our client’s development and land portfolios through monetization via bulk sales, joint ventures and financings, (iv) work closely with other departments in the Company to identify and validate “proof of concept” for value creation opportunities within our client’s CRE portfolio, and (v) achieve opportunistic returns through acquisition of, co-investment in, and lending against, short-cycle Hawaii development projects.
NATURE AND SCOPE
The Director will be responsible for leading the sourcing, analysis, and execution of sophisticated real estate transactions consistent with the Investment team’s mandate, including but not limited to (a) acquisition and disposition of the fee simple interest in various real estate assets ranging from entitled land to stabilized commercial projects, (b) structuring of real estate joint ventures, (c) construction, structured and mezzanine lending, and (d) acquisition of real estate-secured debt.
The incumbent should have 8 or more years of directly relevant real estate experience and possess the following: knowledge of the real estate, demographic and economic conditions within Hawaii impacting the local investment landscape; strong quantitative skills, including a demonstrated proficiency in creating and reviewing standardized and ad hoc cash flow models of varied investments; the ability to effectively communicate complicated business concepts both verbally and in writing, including through presentations to both internal and external audiences; a team mentality; and the capacity to multi-task and self-manage. Proficiency in Excel, ARGUS (Enterprise or DCF), fundamental finance concepts, and tax concepts related to the Company’s operations (e.g., 1031/1033 transactions, REIT rules); exposure to multiple real estate product types; and complex real estate due diligence, negotiation, contracting and transaction management experience are required. MBA/MSc/JD preferred.
Work collaboratively with the rest of the Investments team to achieve the Company’s Operating and Strategic Plan objectives for CRE portfolio growth and optimization of the Company’s development and land portfolios.
Lead the valuation, preparation for disposition, marketing, and contracting for sale or other monetization of select development and land assets owned by the Company and managed by the Development for Sale and Land Operations segments.
Consult with the Asset Management, Development for Sale, Development for Hold, Leasing and Land Operations teams to (i) scope, prove the viability of, and execute upon value creation and disposition opportunities, including creation and review of related financial models, and (ii) develop proprietary data collection protocols and databases (e.g., comparable rent and transaction databases) to assist the Company’s portfolio management and investment efforts.
Source potential acquisition and investment opportunities through a broad network of real estate industry professionals including brokers, attorneys, accountants, investors, and developers.
Evaluate and analyze the economic and physical viability of potential real estate acquisitions and investments in a quick, efficient and thorough manner.
Lead the production of financial analyses and models produced by Analysts on the Investments team, and develop the “deal awareness”, financial acumen, and modeling skills of such Analysts through training and mentoring.
Negotiate the terms & deal structures of potential real estate acquisitions, dispositions & financings in a manner that maximizes profitable returns to our client, while minimizing risk and liability.
Identify, coordinate & complete all required due diligence in regards to the physical & economic attributes of potential acquisitions. Lead consultants, brokers, & other parties involved in the transaction.
Work with in-house and external legal counsel in the documentation of all agreements and contracts appropriate to the transaction; review all agreements and contracts to ensure that they accurately represent the terms of the transaction and the intent of the parties and conform to all applicable Company policies; and close the transaction in accordance with such agreements, contracts and policies, and with all applicable corporate and Board approvals
Prepare reports, memoranda, and Capital Expenditure Requests and present their conclusions to senior management or the Board of Directors.
Perform such other tasks and assignments as may be from time to time given by the VP, Investments.
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