The SVP, Development reports to the EVP, Development and will be responsible in a principal role for sourcing, underwriting, and executing development transactions within an assigned region.
The successful candidate will embody and work to reinforce MAA's Core Values. Those values include:
Appreciating the uniqueness of each individual
Communicating openly and with integrity
Doing the right thing at the right time for the right reasons
Duties and Responsibilities
Acts in a lead/principal role on behalf of MAA to make decisions and execute new developments within the parameters approved for each transaction by the Investment Committee of the Board of Directors
Identifies and evaluates new development opportunities that meet or exceed MAA real estate development criteria
Develops and maintains relationships with brokers, owners, and sellers and facilitates deal flow
Oversees and coordinates the underwriting and due diligence of assigned transactions for all assigned development projects
Participates in the selection of financial sources, structuring of deals, negotiating legal documents, and architectural and construction planning
Provides senior management with information regarding current market conditions, including supply and demand and competitor activity
Develops and implements strategic business plans to maximize cash flow and value
Develops relationships with investors, lenders, engineers, and real estate appraisers to maintain knowledge of market conditions and opportunities
Travels frequently (approximately 50%) to conferences and events as well as market and/or property tours of transaction opportunities
Performs other related duties as assigned to meet the needs of the business
Bachelor's degree in real estate, finance or engineering and 8+ years of real estate experience required, or an equivalent combination of education and experience.
Valid driver's license from the state of residence required
Experience leading or facilitating a development deal from site identification, concept, design, construction to stabilization strongly preferred
Master's degree or MBA preferred
Knowledge, Skills, and Abilities
Business development experience with a track record of growing and building customer relationships
Excellent written and verbal communication skills
Strong knowledge of financial and real estate terms and principals
Knowledge of regional and/or local economics and market trends in real estate investment and/or development
Knowledge of legal and regulatory requirements related to land use and development (e. g. , zoning laws, permit requirements)
Knowledge of contractual and legal terminology and principles with which to draft, modify, interpret, and apply stipulations to development projects
Knowledge and skill to provide direction, make decisions, and manage design teams and consultants to meet deadlines and expectations
Skill in applying a collaborative, team-based approach to the development process
Business and financial acumen to manage and control budgets and expenses for assigned projects
Critical thinking, problem-solving, and decision-making skills with varying amounts of data or information
Knowledge and skills to manage projects, organize, prioritize, and meet deadlines
Ability to maintain confidentiality and maintain appropriate discretion
Ability to operate a personal motor vehicle to travel within an assigned geographic region; ability to travel overnight by air on company business
MAA recognizes that talented people are attracted to companies that provide competitive pay, comprehensive benefits and outstanding advancement opportunities. We offer a comprehensive benefits package* including, but not limited to, the following:
* Medical, Dental and Vision Insurance
* Life and Disability Insurance
* Employee Assistance Program
* Vacation, Sick Leave, and Holiday Pay
* 401(k) Retirement Plan
* Tuition Reimbursement
* Adoption Reimbursement
* Apartment Discount
* Opportunities for promotion and internal career advancement
*Eligibility for benefit plans and programs vary based on hours worked and length of employment.
We are committed to providing service excellence and value to those who depend on us at MAA. Our people-first approach has been transforming properties into communities and apartments into homes for over 25 years. As the largest owner-operator of multifamily apartments in the United States - we are established leaders in the real estate space - bringing tremendous opportunities to those looking to build their careers. We invite you to explore our Brighter View and find your place at MAA!
MAA is a real estate investment trust (REIT) that focuses on the acquisition, selective development, redevelopment and management of multifamily homes throughout the Southeastern and Southwestern regions of the United States.
Our mission at MAA is to deliver superior service and value for our residents, employees and shareholders. We refer to this as creating "A Brighter View" and we are doing it every day.
In fact, we proudly display "Our Brighter View" plaques at every MAA office just to serve as a daily reminder of our focused mission. MAA is committed to remaining true to our rich tradition of service to each other, to our residents, and to our shareholders. We respect the privilege to providing value to those whose lives we touch.
Please click on the links below to learn more about MAA’s culture and corporate charity as well as view MAA’s Corporate Profile: