Vice President, Development- 21c Museum Hotels- Louisville, Kentucky

Dec 04, 2018
Jan 03, 2019
Vice President, Development- 21c Museum Hotels- Lo
Contract Type
Full Time
## Primary Location

VP, Development

**Reports To:**President/CEO

**General Purpose: **Takes lead and identifies potential sites/existing properties for new 21c projects in support of expansion plans by leveraging relationships with real estate developers and partners, asset managers, owners, brokers, agents. Partners with CEO, Design & Construction and Operations teams to assess property for design viability, location selection, xxx.

# Specific Responsibilities:

* ** **Site Selection
* Identify, analyze and evaluate real estate opportunities using 21c scorecard
* Completes all due diligence on any property identified for acquisition
* Assess current and projected market conditions to identify opportunities and risks
* Understand project budgeting and scheduling, entitlements and permits, contractor and consultant selection
* Collaborate with Design & Construction and Operations team to assess viability of real estate opportunities
* Creates, updates and delivers Development Tracking Report
* Develop, monitor and report on key performance indicators (KPIs)
* Employs process management methodologies
* Project Management/Acquisition
* Negotiates and executes real estate transactions for the development of future 21c properties
* Assist with preliminary project budget including hard/soft costs; strong knowledge of construction cost/benefitanalysis
* Oversee development of detailed pro forma models to most accurately predict project cash flows, including sensitivities analysis
* Oversee the development project capital budgets by leveraging actual expenses from completed 21c projects; Adjust based on project size and local market conditions
* Oversee determination of optimal financing structure that delivers best returns for equity investor
* Relationship Management
* Primary 21c representative within real estate partner communities
* Build relationships with real estate partners to deliver best site selection options
* Negotiate term sheets with xxx
* Oversee preparation of investment and lender memos highlighting a project's financial merits
* Oversee work with key local economic/government officials to deliver maximum incentives to a project
* Finance Closing
* Oversee work with internal and third-party attorneys and accountants to pull together required agreements and reports
* Oversee the close process
* Oversee the preparation and review of flow of funds and closing statements
* Project Viability/Cash Flow Improvement
* Oversee options to make projects economically viable

* Stay on top of market trends to identify opportunities to improve project economics

* Ad-Hoc Responsibilities

## Employee Status


* Real estate deal experience across wide range of deal types; operated in an environment of large and significant deal velocity

* Ability to lead internal and external cross-functional teams of attorneys, developers, business partners, municipal partners, design and construction teams, architects and operation steams

* Strong negotiation skills

* Strong relationships with real estate community and understanding of current and projected market rates

* Proven development of pipeline

* Knowledge of current real estate financing market, transactions and investment terms with the ability to analyze complex business/financial data

* Strong working knowledge of Microsoft Excel and financial reporting; ability to create and manage complex financial models

* Knowledge of private equity and underwriting requirements

* Knowledge of public incentives including, but not limited to, Historic Tax Credits, New Markets Tax Credits, and Tax Increment Financing

* Strong collaborator with internal Operations & Finance, lenders, equity partners, and third-party consultants

* Excellent communicator demonstrated through clear, concise verbal and written communication

* Organizational skills and ability to manage multiple projects simultaneously

* Bachelor's Degree in Business (Finance, Economics or Accounting)

* MBA preferred

* Minimum 10 years real estate development experience; hospitality industry preferred

* Demonstrated experience in financial planning & analysis experience

* Frequent travel as required

*Primary Location:* United States

*Employee Status:* Regular

*Job Level:* Senior Leadership / Executive

*Schedule:* Full-time

*Travel:* Yes, 25 % of the Time

*Closing Date:* 17.Dec.2018, 11:59:00 PM

*Req ID:* AME00346