Position Description: Vice President, Development
Marcus Partners is a value-oriented real estate investment and development firm based in Boston, Massachusetts with regional offices in Metro New York City and Metro Washington, D.C. and a focus on major East Coast markets. The firm has built a reputation as an experienced and trusted investment and development firm, known for high quality work and the ability to identify and implement value-driven real estate, design and development solutions. Marcus Partners is primarily engaged in the acquisition, repositioning and development of commercial office, industrial, biomedical and medical office properties as well as residential and mixed-use projects. The firm is vertically integrated with investment, development and construction, asset and property management professionals and has a proven track record of successful real estate investment, and development projects.
The firm successfully acquired and divested 15 properties in the Metro Boston, D.C., New York, and Atlanta regions for Marcus Capital Partners Fund I. Currently, the firm is investing in new acquisition, repositioning and development opportunities for Marcus Capital Partners Fund II consisting of $250M of equity.
As its core business continues to expand, Marcus Partners is seeking a talented Development Management professional.
The individual must be confident, intelligent, and adaptable and an experienced development management professional who can successfully operate both independently and as part of a team. He/she must be passionate about real estate development, redevelopment and investment projects, take an ownership perspective with their work and embrace an entrepreneurial work environment. This professional must possess a strong work ethic and a deep understanding of complex opportunities to implement disciplined decision-making strategies. He/she should have proven experience with assembling and leading dynamic teams of development, design and engineering professionals and working with local authorities to obtain required permissions and entitlements.
The individual must understand building systems and how they interface, zoning hurdles and strategies, design and construction delivery strategies, contracts, and development project budgets. He/she must be able to work closely with the firm's principals to assist with the development of marketing, financing and property management strategies. He/she must take pride in achieving quality objectives, be able to gain the trust and respect of peers, have a desire to succeed and have a history of being able to consistently deliver multiple projects across various asset classes and scales, within critical time and cost constraints. Reporting to select principals of Marcus Partners in the investment and development teams, the individual must also be able to successfully support rigorous property acquisition and leasing efforts within this entrepreneurial, Boston-based organization.
The Vice President, Development will be responsible for synthesizing, organizing and coordinating every aspect of each new and proposed project, ensuring that requirements, objectives and expectations are defined, communicated, understood, and then transformed into a well-planned, well executed delivery. In that context, this individual's responsibilities include the following:
- Interface and collaborate with prospective partners, users, lenders, tenants, regulatory officials, design professionals, and builders
- Develop strategies for acquiring required zoning and entitlements;
- Work closely with the firm's construction specialists to help clarify and articulate intended project's scopes; develop capital project budgets and schedules to maximize revenue potential; select design and construction teams; negotiate and administer contracts; and project estimated costs-to-complete;
- Develop and implement strategies and procedures to successfully deliver projects on-time and on-budget with minimal risk;
- Oversee construction projects, capital upgrade projects and tenant improvements;
- Collaborate with acquisition teams to implement preacquisition activities; spearhead due diligence evaluations; and assist leasing efforts;
- Manage needs versus wants leading to changes in the scope of work;
- Prepare project status reports and Indicated Outcome Reports for senior management;
- Manage interfaces and communications with development partners and lenders; ensure compliance with critical partnership, mortgage and loan documents and oversee the preparation of periodic draw requests;
- Work closely with and support the firm's asset management and property management personnel from inception and stabilized occupancy- through the life cycle of each investment.
Bachelor of Science in engineering, architecture, construction management and/or another related science.
Minimum of 7-10 years of related development management experience; must have a broad understanding of building technologies, the design process, regulatory approval processes and construction delivery methods, procedures and techniques.