Qureos Mentor

The Edge Group

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 Head of Multifamily Development
 
 
 
 
 Houston, TX
 
 
 
 
 
 
 Our client, a large commercial real estate developer, is establishing an in-house multifamily development division and is hiring a Head of Multifamily Development to lead deal execution. The role executes the multifamily opportunities already in the organization's portfolio and pipeline, runs the analysis on each, and oversees the consultants and internal teams that carry a project from concept through stabilization and sale. This role does not include raising capital, arranging debt, or managing the division's P&amp;L.
 
 
 
 
 
 The Head of Multifamily Development is the single point of accountability for executing the company's multifamily development deals. The role and division plug into the organization's existing in-house teams: construction, engineering, land development, architecture, marketing, legal, and finance, and directs them, along with outside consultants, to deliver projects.
 
 
 
 
 
 
 RESPONSIBILITIES:
 
 
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 Prioritize the pipeline:
 
 Evaluate the multifamily opportunities in the portfolio and development pipeline and sequence them into a development program determining which projects proceed and in what order.
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 Run the analysis:
 
 Own the underwriting and analysis for each opportunity: feasibility, program, and returns , and present go/no-go recommendations to the investment committee.
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 Oversee the project team:
 
 Select and manage the consultant team (architects, engineers, general contractors, property managers, and others) in coordination with in-house groups and coordinate every discipline through the life of each project. Over time, the role is expected to add direct reports, beginning with analytical support, as deal volume warrants.
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 Carry each deal from concept to sale:
 
 Manage projects through entitlements, design, construction, lease-up, stabilization, and disposition.
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 Cooperate on capital:
 
 Work with the finance team on debt and equity matters without responsibility for arranging debt or raising equity. Fluency in promote structures, preferred returns, and waterfalls supports deal structuring and execution, not fundraising.
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 Execution role, not a deal-sourcing role:
 
 The pipeline already exists. The work is developing sites the company already controls &mdash; not sourcing new deals. The organization is not building a multifamily acquisition platform and is not pursuing development opportunities outside its portfolio and pipeline. The right candidate is motivated by execution rather than by sourcing and winning new deals.
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 REQUIREMENTS:
 
 
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 10+ years in ground-up multifamily development, with a record of leading deals from land through stabilization as the responsible lead.
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 A track record specifically in Class A garden and suburban multifamily is required.
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 Full-lifecycle experience: feasibility, entitlements, design and consultant management, GC selection and construction oversight, lease-up, and disposition.
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 Strong development underwriting and financial-modeling ability.
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 Capital literacy: conversant in construction debt, promote structures, preferred returns, and waterfalls, sufficient to cooperate with the finance team and structure sound deals. Arranging debt and raising equity are handled by the firm.
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 Established relationships with general contractors, architects, engineers, municipalities, and lenders.
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 Texas / Sun Belt suburban growth-market experience.
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 Mixed-use or retail-adjacent development experience and experience running a development program or division prefererred.
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Head of Multifamily Development

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The Edge Group

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Head of Multifamily Development