Our client is the nation’s largest provider of diversified industrial real estate. The company leases, develops, redevelops, buys, sells, and manages industrial facilities in the nation’s top 25 industrial markets. Our client’s professionals possess an intimate understanding of customer needs and are capable of providing custom solutions that help corporate real estate managers achieve their operational and financial goals. The company has three funds with a joint venture partner that is a major U.S. pension fund. The pension fund has committed more than $4B to invest in industrial developments nationwide. They are a global leader in their industry and will continue to grow well into the future.
Opportunity:
The Director of Financial Modeling is a newly created position and will play a key role in determining which investments will create the best win-win scenario for both our client company and their joint venture partner. The main function of the Director will be to financially model development opportunities that would best suit our client and the investors who have stake in the success of their developments. This position will allow a professional, articulate, and detail-oriented real estate professional to impact the efforts of our client’s burgeoning development business. Working closely with the Executive Vice President of Development, the Head of Due Diligence, the joint venture partner, and the partner’s advisors, the Director will have a tremendous opportunity to work with multiple high level real estate professionals, gaining increased visibility in real estate with a company that has a large platform for growth.
Job Scope:
- Develop and maintain a financial model for use in all development transactions and for all sources of equity (on balance sheet and joint ventures).
- Ensure all financial models reflect appropriate assumptions for interest rates, overhead allocation and fees for both on-book and joint venture developments.
- Communicate and respond to modeling questions from field personnel.
- Coordinate with JV department in developing and maintaining portfolio level financial models.
- Review and monitor development pipeline activity in company database.
- Verify that database information is accurate and complete.
- Prepare and analyze reports for all stages of development activity.
- On a monthly basis, prepare and reconcile the budgets for all development projects.
- Review and analyze development accounting reports for cost basis and compare to Investment Committee and Joint Venture Approvals.
- Oversees construction application payment process to ensure payments are approved, title insurance updates are obtained and payments are processed timely.
- Performs other functions including updating transaction database, prepares status reports, and updates financial models.
- Responds to questions from senior management and performs special research or analytical assignments as requested by Executive Vice President of Development.
- Liaison with internal audit staff for departmental compliance with Sarbanes Oxley.
- Responds to inquiries from 3rd party auditors related to department processes and internal controls.
- Maintains contact with various departments including Investments, Dispositions, Operations and accounting for development related activities.
Experience / Education Required:
- Five to seven years of related experience in order to gain an understanding of real estate principles, terminology, and the development process sufficient to prepare advanced financial modeling using ARGUS and Excel.
- BS/BA in Real Estate, Business, Finance, accounting or related degree.
- Strong analytical and written communication skills including the ability to prepare accurate and appropriate analysis and related documentation for presentations to senior management.
- Computer skills necessary to enter and manipulate words and data and use standard software and specialized software (ARGUS) to communicate with others, prepare documentation and or analyze data.
- Exceptional communication and presentation skills are required for both internal and external interactions from formal presentations to information meetings or conversations with various contacts, including the company’s joint venture partner and its advisors.
