The Senior Development Portfolio Manager is a senior-level employee who is responsible for leading and executing assigned commercial real estate development projects. They are also responsible for providing managerial oversight throughout development, construction, and project delivery, including performing market research, site selection and project feasibility, land planning and design, project entitlements, product development, project scheduling and budgeting, and general project execution through delivery.
WHO WE ARE
At Property Reserve, our people, values, and work come together to build something greater. Property Reserve is the real estate investment arm of the reserve funds for The Church of Jesus Christ of Latter-day Saints. In the spirit of time-tested self-reliance principles, Property Reserve creates sustainable cashflow for future needs.
As caretakers of sacred funds, we invest in income-generating properties and land to support the Church’s mission. Our focus is on the acquisition, build-to-hold development, and portfolio level management of office, industrial, multi-family, build-to-rent, hospitality, and retail properties.
Property Reserve provides a diverse range of investment experiences, interacting with a seasoned leadership team. Working in a highly collaborative environment, each Property Reserve team member has the chance to contribute meaningfully and frequently to the company culture. Headquartered in downtown Salt Lake City, we offer a locale with a unique blend of world-class outdoor recreation, a thriving culture & arts scene, and diverse housing options with convenient commutes.
Key Responsibilities:
- In collaboration with senior leadership, define and refine the real estate development business strategy, providing input relative to area(s) of product-type expertise, and implement strategy accordingly.
- Perform appropriate market, site feasibility, and end use analyses based on potential profit to company and suitability to business goals.
- Engage with the brokerage community, end user clients, community leaders, and other stakeholders to develop concepts that create the right product for the market while providing financial solutions that generate successful results and maximize development profitability.
- Coordinate due diligence and financial pro-forma modeling and analysis.
- Coordinate and monitor design, project management and construction activities, including project schedules and budgets, and regularly visit project sites.
- Develop and nurture internal and external customer relationships through effective, timely and professional communication including brokerage community, business owners, economic development officials, attorneys, and governmental leaders.
- Obtain necessary municipal use permits and governmental approvals.
- Contact municipal authorities to plan development of land, identify and secure appropriate zoning approvals, and secure annexation rights.
- Participate in professional real estate, development, and related organizations as appropriate to increase networking and visibility for the company.
- Provide information concerning building projects to management and ecclesiastical leaders by keeping accurate project files, attending review boards and other meetings, and producing periodic reports as needed.
- Help control building project costs by working with development and construction managers, contractors, and architects in establishing and adhering to budgets.
- Contribute to the improvement of existing processes and promote the adoption of best practices as related to the above duties and responsibilities.
- May supervise and/or provide work direction to other members of the Development team.
- Perform other essential duties as assigned.
Minimum Requirements:
- Must be a member of The Church of Jesus Christ of Latter-day Saints and currently temple worthy.
- Bachelor's degree in engineering, construction management or related field, or the equivalent education and experience.
- Minimum of 8 years professional experience in the construction or building engineering and design industry.
- Bluebeam, Microsoft Office, and AutoCAD experience required. Revit experience a plus.
- Understanding of the development process, capital markets, construction industry, brokerage community, and how these groups relate to one another.
- Solid knowledge of statistics and financial analysis techniques as they apply to real estate projects with strong working knowledge of financial modeling, working with project proformas, and financial transaction structures in lease, sale, and investment packaging.
- Proven ability to make effective decisions in response to changes in real estate markets.
- Excellent analytical, quantitative, and problem-solving skills.
- Strong understanding of financial concepts with time value of money.
- Excellent working knowledge of real estate finance, economics, market analysis, financial statements, and applicable markets.
- Strong negotiation, communication, and presentation skills, both oral and written.
- Proven ability to establish successful client relationships with key brokers, architects, developers, and institutional property owners.
- Accuracy and attention to detail with the ability to multi-task in a fast-paced environment and execute a wide range of assignments.
- Strong work ethic, entrepreneurial spirit; passion for excellence and desire to learn.
Only members of the Church who are worthy of a temple recommend qualify for employment. Apart from this, the Church is an equal opportunity employer and does not discriminate in its employment decisions on any basis that would violate U.S. or local law.
Qualified applicants will be considered for employment without regard to race, national origin, color, gender, pregnancy, marital status, age, disability, genetic information, veteran status, or other legally protected categories that apply to the Church. The Church will make reasonable accommodations for qualified individuals with known disabilities.
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