VP Development - Boston Corporate
Equity Residential

Job Info

JOB DESCRIPTION
*WHO YOU ARE*

* *Developer & Allocator:*
You are capable of executing entitlements, design and construction with the Company's internal resources and also have an ability to form joint venture partnerships; all while being flexible as to which approach maximizes risk adjusted returns for the Company through market cycles.
* *Strategic Thinker. *
Ability to formulate an investment thesis with consideration for current macro and micro economic trends and articulate the thesis clearly and concisely.
* *A Strong Communicator.*
Your writing and speaking skills are clear and effective, helping you connect well with others and respond to inquiries from the Executive team, joint venture partners and associates.
* *Negotiation Skills:*
Experienced negotiator able to reach amicable win-win outcomes that maximize project performance while maintaining positive relationships.
* *Leadership Presence:*
Capable of building internal and external relationships and mentor across the reporting structure to create unity and drive overall performance.
* *Organized and Confident.*
You are flexible, composed, and able to prioritize multiple tasks and deadlines simultaneously while confidently interacting with individuals across all levels of the organization.
* *Motivated.*
You invest extra energy to reach your goals.
* *A Solution-Oriented Team Player.*
You are united with teammates and follow through on commitments.
* *A Self Starter:*
You are intellectually inquisitive and goal oriented; you like to solve complex problems and find unique solutions.
*WHAT YOU'LL DO*

* Source development opportunities by establishing and maintaining joint venture relationships, and strategically pursue direct development opportunities across the Boston and New York markets. Lead all facets of the development process, including:
* Analyze submarket fundamentals for demographic trends to prove or disprove an investment thesis that fits the Company's strategic goals.
* Manage underwriting models and competitive market surveys for all projects, including recommendations on revenue and operating expenses, supported by internal and external data sources.
* For direct development deals, responsibilities include assisting with site selection, purchase & sale agreements, design, entitlement, construction and lease-up.
* For joint ventures, sourcing new relationships and projects, assisting in the negotiation of joint venture and loan documentation, and deal due diligence, including analysis of entitlements and environmental issues, construction budgets and schedules, financial projections, market reports, and feasibility studies.

* Maintain strong joint venture partner relationships through the full project lifecycle with an ability to manage conflict and solve problems collaboratively and quickly.
* Partner closely with asset management, construction management, and property management leadership to ensure compliance with underwriting and business plan goals.
* Lead the development and documentation of transaction rationale and investment strategy, including preparation and presentation of materials to Investment Committee.
* Supervise the execution of transaction closings.
* Performs other duties as necessary.
*REQUIREMENTS*

* Bachelor's degree or advanced degree in business, real estate, finance, architecture, engineering, or other related field.
* Must possess a strong analytical mindset, excellent written and verbal communication skills.
* 10 years of development and/or private equity experience with expertise in Microsoft Excel and a strong understanding of financial and real estate concepts such as waterfalls, DCF, IRR, NPV, NOI, cap rates, etc.
* Experience with joint ventures preferred
* Knowledge of Boston and New York real estate market
* Ability to travel and valid drivers' license
*ABOUT EQUITY RESIDENTIAL*
Working for Equity Residential (EQR), a leading multi-family real estate investment trust (REIT), means being part of a community and striving to provide the best in apartment living, speaking boldly about new ideas for innovation, and inspiring creativity in the ways we work together. Our portfolio of over 79,000 units in urban growth markets provides homes where people most want to live, work and play. We've got the best people in the business, and our experience shows in our dedication to our residents and in how much we value each other as colleagues. That's why our employees say they are proud to work at Equity, a company that gives our residents a place where they canLive Remarkably, and offers a culture where our employees have the opportunity to make their mark.
*BENEFITS*
We recognize everyone has different needs outside of work. That's why, in addition to a competitive benefits package (medical, dental, vision and paid time off), we offer many unique options to employees, like adoption benefits and paid time off for community service projects. To learn more, view our Total Wellbeing page

ABOUT US Working for Equity Residential (EQR), a leading multi-family real estate investment trust (REIT), means living our purpose: creating communities where people thrive. It means striving to provide the best in apartment living, speaking boldly about new ideas for innovation, and inspiring creativity in the ways we work together.
Our portfolio of high-quality properties in urban growth markets - New York City, Boston, Washington DC, Seattle, San Francisco, Southern California, and Denver - provides homes where people most want to live, work and play. We've got the best people in the business, as evidenced by our employee engagement scores and customer loyalty ratings. That's why our employees say they are proud to work at Equity, a company that gives our residents a place where they can Live Remarkably, and offers a culture where our employees have the opportunity to thrive.
Equity Rewards
When you join Equity Residential, you won't be treated as simply another employee -- you will be considered a partner in our shared success. As such, we are committed to investing in your personal success through a benefits program that supports your Total Wellbeing.
We recognize that everyone has different needs outside of work. That's why, in addition to a competitive benefits package (medical, dental, vision and paid time off), we offer many unique benefits options to employees, like a comprehensive wellness program, pet insurance, new parent benefits, and paid time off for community service projects. In addition to your next job, you can also find your next home with us! Rent discounts on Equity Residential apartment homes are available to our benefits-eligible employees. The amount of the discount offered is determined based on the market, ranging upwards from 20%. Learn more about our Total Wellbeing program
Equity Values
At Equity Residential, like our residents, our employees come from everywhere. A richly diverse work environment captures top talent, cultivates the best ideas, and creates the widest possible platform for success. By focusing on inclusion, these differences are harnessed to create value -- in ideas, business practices, relationships, and employee engagement. As an Equal Opportunity Employer, we are committed to maintaining a diverse, inclusive and equitable work environment where our employees can thrive.
All aspects of the employment process are merit-based. Every Equity employee is expected to maintain a work environment that is free from discrimination and harassment. Equity Residential does not discriminate against any employee or job applicant because of race, religion, color, creed, sex, sexual orientation, gender, sexual/gender identity/expression, age, pregnancy (including childbirth, lactation or related medical conditions), physical or mental disability, national origin, citizenship status, military (including uniformed service member or protected veteran) status, marital status, genetic characteristic or information, ancestry or any other characteristic protected by law. Equity Residential also prohibits retaliation against individuals who report harassment or discrimination, or participate in investigations into such conduct.
ABOUT THE TEAM The Vice President of Development will be the strategic and operational leader responsible for the Company's development activities in the Boston and New York metro areas, with oversight for sourcing joint venture opportunities, executing densification projects and general oversight for all aspects of our ground up development activities in the markets.