Vice President, Commercial Real Estate - Design And Construction

Fortress Investment Dallas , TX 75201

Posted 5 months ago

The Real Estate business at Fortress is focused on investing in distressed real estate loan acquisitions, special situation equity investments and recapitalizations, opportunistic lending, REIT debt and commercial real estate structured products. The teams have long standing distressed investing and asset management experience with a fully tested and integrated origination, acquisition, underwriting, asset and risk management infrastructure.

This position, which reports to Vice President of Design and Construction, offers significant growth and advancement opportunities. The individual hired for this position will work directly on a large portfolio of highly diversified real estate investments covering multiple property types in both equity and debt positions. This person will interact with internal Asset Management and Investment Team personnel, developers, equity partners, and industry professionals.

This is a merit driven organization with an open door policy which looks for confident professionals, who communicate openly and honestly, have a strong work ethic, are proactive, and desire to learn and assume additional responsibility within the organization.

RESPONSIBILITIES:

Investment Screening & Due Diligence:

  • To identify and solve associated development and construction risks and to help formulate the business plan as it relates to all aspects of development and construction with the investment. This includes:

  • Reviewing real estate related documents, directing assessments, and consulting with third party specialists to evaluate the physical condition of potential acquisition properties

  • Evaluating development team requirements, making recommendations on composition and responsibilities and setting expectations for performance

  • Comparing historical and third party data and utilizing industry contacts to provide or analyze maintenance and improvement budgets

  • Performing site inspections to screen properties for potential issues associated with repositioning/redevelopment

  • Nominating and managing third-party providers during due diligence processes, overseeing technical, valuation, and legal advisors

  • Participating actively in regular meetings with Fortress's senior management team and investment committee to discuss acquisition opportunities

Asset Management/Business Plan Execution

  • To execute and modify the construction aspects of the investment to ensure a favorable business plan outcome. This includes:

  • Providing design, development, and construction related support to the Asset Management and Acquisition Teams a portfolio of mixed-use properties

  • Reviewing and commenting on reports, concepts, and designs, attending meetings, and conducting regular site visits to evaluate progress in business plan implementation

  • Provide guidance on standard project delivery and risk mitigation methods for action steps and strategies to confirm conformance with the business plan to maximize the value of property improvements

  • Regularly perform site inspections to ensure the value of assets

  • Review and comment on legal documents such as leases, design and construction contracts, loan and leasing agreements to ensure compliance

Other

  • Develop strong relationships and effective lines of communication with colleagues and third parties (including joint venture partners and loan servicers)
  • Additional responsibilities as assigned

REQUIREMENTS:

  • Ten to twelve years of hands-on experience in a combination of commercial real estate, design, development and construction; including experience and expertise in reviewing design, construction, and loan documents

  • Experience in underwriting for issues associated with the physical asset in real estate acquisitions including development of deferred maintenance budgets and capital improvement plans

  • Experience in the design, construction, and/or development of retail, hospitality, commercial office, multifamily, and/or mixed use facilities

  • An undergraduate degree with a concentration in Architecture, Engineering, Construction or Real Estate or equivalent practical experience

  • An MBA or Master's degree is preferred but, not required

  • Experience in analyzing leases, budgets, schedules, environmental and engineering reports

  • Excellent analytical skills, attention to detail and strong organizational skills

  • Outstanding written and verbal communication skills

  • Self-starter, able to work independently or in a team environment

  • Demonstrated flexibility to handle multiple projects in a fast-paced, merit driven work environment

  • The ability to provide resourceful solutions with strong analytical skills, creativity and logical thinking

  • Unquestionable integrity and ethics

  • Success developing and sustaining strong relationships with clients and colleagues

  • Strong proficiency in Excel

  • Proficiency in MS Project

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Vice President, Commercial Real Estate - Design And Construction

Fortress Investment