Director of Real Estate
Salt Lake City, UT
full_timeAbout This Job
The Director of Real Estate (DRE) will oversee all aspects of real estate development, financing, management, and partnerships within the Foundation’s affordable housing program. This individual will be responsible for the strategic planning and execution of initiatives aimed at strengthening and maintaining the portfolio of affordable housing units, ensuring financial growth (as defined by the Board of Directors and IRS regulations), and enhancing organizational performance. The DRE will have a strong focus on managing operational functions, guiding a team, approving key documents, and presenting strategic recommendations to the Affordable Housing Committee and the Board.
In addition, the DRE should have knowledge of real estate and finance in the Intermountain West and Midwest, specifically Utah, Iowa, and Nevada.
Specifically, the DRE’s key responsibilities will include:
Oversight of Real Estate Development, Asset Management & Portfolio:
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Supervise all real estate development projects, ensuring adherence to timelines, budgets, and quality standards.
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Supervise internal asset management position and outside vendors hired to conduct property management at CTA’s various properties.
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Lead the growth and expansion of the affordable housing portfolio through strategic acquisitions, partnerships, and development opportunities.
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Manage ongoing project and portfolio performance, ensuring successful completion and long-term asset appreciation.
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Manage key strategic community partnerships.
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Work with Executive Director to ensure investments are compliant with the Board/Family’s vision and private operating foundation IRS requirements.
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Manage resident social services program within multi-family properties in portfolio.
Financial Oversight:
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Approve contracts, invoices, and draws related to the affordable housing projects.
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Review and approve the annual budget for affordable housing initiatives, ensuring alignment with organizational goals and financial constraints.
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Review and analyze monthly financial statements to track performance, asset appreciation, and cost management.
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Develop and evaluate financing strategies to ensure the successful funding of projects, including debt financing and other financial instruments.
Acquisitions & Market Analysis:
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Identify emerging markets and property opportunities for acquisition that align with organizational and Board of Director goals, specifically in Utah, Iowa and Nevada, and more generally within the corporate footprint of Maverik and Kum & Go.
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Evaluate market trends, property values, and potential for future asset growth to inform acquisition strategies.
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Provide recommendations and insights on target markets and acquisition strategies to enhance the portfolio.
Debt Financing & Capital Strategy:
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Assist in debt financing arrangements, negotiating favorable terms for project financing.
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Identify and implement optimal financing strategies for various projects to ensure fiscal responsibility and long-term sustainability.
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Work with financial institutions, and other stakeholders to structure funding deals for new and existing projects.
Strategic Planning and Execution:
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Lead the creation of long-term strategic plans to strengthen the affordable housing portfolio and enhance organizational impact.
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Collaborate with Executive Director, Development Director and Asset Manager to execute annual goals and objectives, and the strategic plan, ensuring alignment with organizational goals.
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Monitor progress on key initiatives and adjust strategies to achieve desired outcomes.
Reporting & Presentations:
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Finalize and prepare proposals, presentations, and reports for the Board and Affordable Housing Committee.
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Present on financial performance, strategic initiatives, and progress on affordable housing projects.
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Ensure that all agendas, reports and other documents are thorough, neat, and delivered in a timely manner to Executive Director, Board and other stakeholders.
Qualifications
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Bachelor's degree in Real Estate, Finance, Business Administration, or related field (Master’s degree preferred).
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7-10 years of experience in real estate development, affordable housing, or related sectors.
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At least 5 years of management experience.
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Nice to have experience in affordable housing and LIHTC, but not required.
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Strong understanding of financing, project management, and real estate market trends.
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Proven experience in managing large-scale portfolios, budgets, and partnerships.
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Excellent communication and presentation skills with the ability to interface effectively with Boards, committees, and external partners.
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Demonstrated leadership ability and strategic vision in a fast-paced, results-driven environment.
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Commitment to serving low to moderate income communities with empathy and respect.
Key Competencies:
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Financial acumen and experience with budgeting, financial analysis, and reporting.
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Understanding of affordable housing policies, regulations, and funding mechanisms.
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Ability to lead and motivate teams, fostering collaboration and high performance.
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Negotiation and contract management skills.
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Ability to think strategically, stay highly organized, proactively manage workflow and execute tasks with precision.
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
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