Ares Management Corporation

Principal, Multifamily Development

Posted Yesterday

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Los Angeles, CA, USA

In-Office

250K-250K Annually

Expert/Leader

Real Estate

The Role

The Market Leader for multifamily development will oversee financial performance, manage relationships, source deals, and lead the regional team in Southern California.

Summary Generated by Built In

Over the last 20 years, Ares’ success has been driven by our people and our culture. Today, our team is guided by our core values – Collaborative, Responsible, Entrepreneurial, Self-Aware, Trustworthy – and our purpose to be a catalyst for shared prosperity and a better future. Through our recruitment, career development and employee-focused programming, we are committed to fostering a welcoming and inclusive work environment where high-performance talent of diverse backgrounds, experiences, and perspectives can build careers within this exciting and growing industry.

Job Description

Position Summary

This Market Leader will be a regional leader for ARES’ multifamily development platform. This Market Leader will ultimately be responsible for the financial performance of the Southern California market. This will be achieved through identification, closing and execution of development deals. We are seeking an accomplished, knowledgeable, and dynamic individual to provide strategic leadership and management (both direct and indirect) to all talent within the market office.

Essential Position Duties

Source and evaluate the feasibility of development opportunities that are consistent with ARES strategic, asset and financial criteria.
Close development deals consistent with financial goals.
Manage and cultivate broker, owner, and customer relationships.
Directly source and manage the pursuit process and direct key work activities for support staff.
Negotiate with buyers/sellers from Letter of Intent through closing of transaction.
Arrange and conduct both market and portfolio tours for investors/analysts.
Present transactions to Investment Committee.
Oversee the preparation of annual operating budgets and quarterly forecasting efforts.
Recruit, lead, and mentor the market office team.
Interact with and establish strong partnerships with key internal stakeholders.
Represent the Company effectively with key shareholders, analysts, etc. brokers and the local market real estate community.

Qualifications

10+ years of relevant multifamily real estate development industry experience.
Extensive proven record of sourcing and closing development deals.
Thorough capability of executing multifamily purchase and sale agreements, general real estate legal documents and entitlements.
Well-developed relationships within target markets and the ability and desire to create new relationships.
Extensive knowledge of key target markets.
Prepares and presents detailed financial analyses and market reports to evaluate transactions.
Financial underwriting acumen and understanding of capital stack.
Working knowledge of architectural, engineering and construction processes.
Familiarity with a wide range of multi-family designs and construction methods.
Proven leader of a team. Effective at growing the capability of others and leveraging resources to increase the market office’s financial performance.
Strong financial and analytical acumen.
Excellent written and communication skills and demonstrated leadership capabilities.
Strong presentation skills at the Investment Committee and customer levels.
Willingness and ability to travel.
Bachelor’s degree.

Reporting Relationships

Managing Director, Real Estate

Compensation

The anticipated base salary range for this position is listed below. Total compensation may also include a discretionary performance-based bonus. Note, the range takes into account a broad spectrum of qualifications, including, but not limited to, years of relevant work experience, education, and other relevant qualifications specific to the role.

$250,000.00 - $250,000.00

The firm also offers robust Benefits offerings. Ares U.S. Core Benefits include Comprehensive Medical/Rx, Dental and Vision plans; 401(k) program with company match; Flexible Savings Accounts (FSA); Healthcare Savings Accounts (HSA) with company contribution; Basic and Voluntary Life Insurance; Long-Term Disability (LTD) and Short-Term Disability (STD) insurance; Employee Assistance Program (EAP), and Commuter Benefits plan for parking and transit.

Ares offers a number of additional benefits including access to a world-class medical advisory team, a mental health app that includes coaching, therapy and psychiatry, a mindfulness and wellbeing app, financial wellness benefit that includes access to a financial advisor, new parent leave, reproductive and adoption assistance, emergency backup care, matching gift program, education sponsorship program, and much more.

There is no set deadline to apply for this job opportunity. Applications will be accepted on an ongoing basis until the search is no longer active.