Real Estate Acquisitions & Development Manager
With more than 2,600 locations nationwide, Public Storage is the leader in the self-storage industry, and given our number of tenants, we may very well be the world's largest landlord. We've experienced unprecedented growth over the past four decades, and it's in no small part due to the dedicated team that has helped us become an S&P 500 industry leader, the country's largest real estate investment trust (REIT), and the most recognizable name in self-storage.
We currently have a great opportunity for a Real Estate Acquisitions & Development Manager to be based out of our corporate office in Glendale, CA. The Real Estate Acquisitions & Development Manager will report to the Regional Vice President of Development and will work directly with the Director of Acquisitions. The successful candidate will devote full-time efforts to identifying potential development properties, negotiating contracts, coordinating due diligence, preparing proposals for the Capital Committee, and facilitating the acquisition and development of new properties for the company.
- Identify and source potential development sites across multiple markets.
- Perform site evaluations and make recommendations for site selections.
- Build, develop, and direct real estate broker networks in multiple markets
- Underwrite, analyze, and articulate the value proposition for acquisitions.
- Develop feasibility modeling, including capital costs budgeting, pro forma return measurements and valuation methodologies.
- Negotiate Purchase and Sales documents with prospective sellers.
- Prepare and present prospective purchase opportunities to the Capital Committee.
- Coordinate due diligence and confirm purchase assumptions throughout the due diligence period.
- Collaborate closely with the Company’s Real Estate Development and Construction teams to deliver completed projects.
- Assist in the closing process and the development process necessary to realize the acquisition assumptions.
- Qualify/Complete preliminary research of zoning ordinances for intended use.
- Create "currency" for negotiations with Governmental authorities to achieve project approvals.
- Other projects/duties as assigned
- Has led high-volume sourcing and identification of prospective project sites by leveraging online real estate databases, real estate broker community, and other methods as needed.
- Proven track record of managing multiple transactions at the same time. Understands the requirements needed to build a robust transaction pipeline year after year.
- Experienced in the underwriting and valuation of acquisition opportunities.
- Excellent negotiation skills with the ability to sell your ideas and the rationale behind them.
- Experienced in managing the due diligence requirements and the knowledge to assess and mitigate risks in the transaction process.
- B.S. in Business Administration or other 4-year degree required plus a minimum of 3-5 years of direct relevant experience.
- Team oriented.
- Exceptional written and verbal communication skills.
- Has exhibited a high degree of self-motivation and success in past endeavors.