Associate, Land Acquisitions and Development Position
Founded in 2013, Pinecrest provides a focused investment strategy, supplying capital and development expertise to create high quality, purpose-built, campus-proximate student housing throughout the U.S. Pinecrest executes its strategy through joint ventures with developers and operators, as well as through independent investment and development. Pinecrest is an affiliate of Perlmutter Investment Company, a multi-disciplined real estate investment company established in 1998. Pinecrest is based outside Chicago in Highland Park, Illinois with an additional office in Beverly Hills, California. For more information, please visit: www.Pinecrestus.com
Summary of Position:
Pinecrest is seeking a motivated Land Acquisitions and Development Director to work on sourcing viable opportunities to buy and/or ground lease land throughout the United States for the future development of purpose build student housing. The position will contact landowners of many types to find opportunities. Once a pipeline is created, this individual will lead the coordination of all aspects related to acquiring the site and organizing the feasibility of a development. The position will have the ability to grow within the organization, including working on assignments for Pinecrest’s sister company IAC Properties. IAC Properties develops, acquires and manages industrial warehouse distribution facilities throughout the United States.
- Create/maintain pipeline of potential land acquisition / ground lease opportunities throughout the United States.
- Create/maintain pipeline of Universities / regions in which the Company will focus on for future development.
- Maintain market by market research models to keep track of supply and demand.
- Maintain on-going relationships with key players involved in the acquisition of land / ground lease.
- Work with various members of the Pinecrest development team to evaluate opportunities.
- Organize and create feasibility studies of projects including working with an in-house analyst and outside vendors such as architects (MEP, Structural, Landscape, engineers (Environmental / Civil), general contractors, third party property managers, land use attorneys and various other players in the development process.
- Assist in securing approvals, permits and any other necessary government requirements to engage in development.
- Assist team members with ad hoc analysis in a fast-paced environment.
- Have a strong understanding and ability to provide investment yields.
- Bachelor’s degree required from an accredited institution, preferably in real estate, economics, geography, land use or construction.
- 5 years of relevant real estate/construction experience.
- Extensive zoning, entitlement, city ordinances, and project development cost experience. Excel experience and expertise are required.
- Experience working with Universities or Greek Organizations.
- Experience with zoning, entitlements, approvals and permits.
- Experience with negotiating purchase and sale / ground leases.
- Proficiency in all Microsoft Suite programs.
- Excellent written and oral communication skills.
- Understanding of real estate fundamentals, financial principles, and basic capital structures.
- Ability to work in a fast paced and time sensitive environment.
- Able to effectively work on multiple projects.
- Excellent organizational skills with attention to detail.
- Ability to travel up to 50% of the time.
- References to past projects in which he/she has been involved with that resulted in the acquisition of land and/or ground lease.
5+ to 7 years
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