The Opus Group seeks a Manager of Multifamily Real Estate Development to join our Chicago team.
We build more than buildings. We are building greatness, in both our projects and our people. The combination of our people, culture, and unique project delivery approach truly differentiates us – it is why our associates come here, and why they stay. Team Opus associates collaborate to advance our client goals, our communities, and their careers. At Opus, you have an unmatched opportunity with a growing, industry leading organization to learn and develop professionally, while having fun along the way. Our award winning teams are united by one mission and are driven to deliver impactful results.
We value our associates and the time they spend building more with us. We offer a comprehensive suite of benefits aimed at supporting them in and out of the workplace, including:
- health-care, dental and vision coverage
- a 401(k) plan and immediate company match
- a student loan payback program
- paid time off
- paid holidays
- birthday holiday
- community time off
- caregiver leave
- tuition reimbursement
- paid licensures and professional memberships
Working at Opus' Chicago office in Rosemont, IL the Manager, Real Estate Development is responsible for coordinating the execution of strategies relative to the acquisition, development, leasing and marketing of multifamily product types pursued by the company.
- In collaboration with the Senior Vice President and multifamily development team, define and refine themultifamily real estate development and site acquisition business strategy, providing input relative to area(s) of product-type expertise, and implement strategy accordingly.
- Assist with the coordination, selection, negotiation, and purchasing of land in support of multi-family development opportunities in accordance with company policy and municipal or governmental regulations.
- Perform appropriate market, site feasibility, and demographic analyses, and select sites on the basis of potential profit to company and suitability to business goals.
- Coordinate due diligence and financial pro-forma modeling and analysis collaborating with Opus Design Build and Opus AE Group team members.
- Assist with the management of architect, interior design and other consultants on the design of the building floor plan, exterior, amenity areas, unit layouts and unit finishes.
- Analyze financing structures and assist with the negotiation of purchase & sale contracts.
- Obtain necessary municipal use permits and governmental approvals.
- 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. Maintain knowledge of current and future development standards and trends including building features, interior and exterior amenities and unit finishes.
- Coordinate and monitor design, project management and construction activities, including project schedules and budgets, and regularly visit project site.
- Assist with the coordination of the lease-up of existing and proposed multi-family developments.
- Work with property management to initiate property operations.
- Assist regional property manager in hiring appropriate onsite team for multifamily assets.
- In collaboration with regional property manager, create and track marketing/operational/leasing timeline for building opening/turnover.
- Review and approve annual operating budgets.
- Monitor and lead weekly leasing status.
- Work with property management and leasing team to optimize rental rates and leasing concessions.
- Review monthly financial statements for actual performance versus budget.
- Additional operational responsibilities here. Act as liaison between property management team and Ownership to anticipate and proactively address any operational issues.
- Investor communication.
- Provide input relative to the development, maintenance, and enhancement of Company marketing materials for development projects consistent with established standards.
- Direct and coordinate analysis, deal structuring and packaging of multifamily proposals and responses to Requests for Proposal (RFPs).
- Assist with design of specific materials for new developments, including signage, brochures, ads, and fliers.
- Maintain current market knowledge through assembly and analyses of market data and anticipate future trends likely to impact the organization.
- 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.
- Participate in professional real estate, development, and related organizations as appropriate in order to increase networking and visibility for the Company.
- May supervise and/or provide work direction to Real Estate Representatives.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Bachelor’s degree in Business, Finance, Management or related field; or equivalent, relevant experience and knowledge
- Minimum of 8 years’ experience in real estate development, asset management, property management, finance, or brokerage business, or similar, with exposure to a variety of project types and transaction structures
- Understanding of development process, capital markets, design-build construction industry, and 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, and strong working knowledge of financial transaction structures in lease, sale, and investment packaging
- Excellent interpersonal, verbal and written communication skills
- Strong negotiating and marketing skills
- Should have personal qualities of persistence, diplomacy, and organization
Qualified candidates must be legally authorized to work in the U.S. and must not require sponsorship for employment visa status now or in the future (e.g. H1-B).
The companies comprising The Opus Group are Equal Opportunity Employers.