Job Description

Real Estate Development Manager – Emphasis Hotel Development

About Us

JMF Development LLC is a real estate development and property management company established in 1994 and headquartered in Downtown Los Angeles. JMF’s activities include management of our current portfolio, which includes office and apartment buildings, high-end residential beach home rentals in Malibu, CA, ground up development, land development and rehab of buildings. We are currently developing a ground-up, mixed-use high-rise comprised of a luxury hotel and premium branded residential condominiums. JMF Development is also affiliated with Citrus LLC, a hospitality group that develops and manages high-end restaurants and bars that include Perch LA (www.perchla.com) and Mrs. Fish (www.mrsfish.com).

About the Role

We are seeking a Real Estate Development Manager with an emphasis in hotel development. This individual will be responsible for leading and overseeing all phases of the development process including planning, entitlements, budgeting, financial feasibility / financial projections capital raising, debt financing, hotel branding, hotel flag negotiations and overall management of the project development. The main emphasis is a 52 story Hotel Development Project (that has already received all entitlements needed to move forward) as well as redevelopment a 16-story office building. This individual will work with all project stakeholders to complete the process from financing, hotel brand selection through construction. In addition, there are other projects in the pre-development phase.

This role reports directly to the CEO of JMF Development LLC.

Key responsibilities will include:

Deep understanding of the hotel market and a strong investment analysis skills are essential.
Oversee and implement all facets of the hotel development process including but not limited to sourcing hotel brand/flag, project financing (equity and debt), planning, and programming.
Showcase a strong background in investment analysis with the ability to create financial models and projections in Excel.
Prepare valuation analyses for various debt and equity structures.
Combine your analytical skills with a creative touch by turning intricate investment data into visually engaging graphics. Enhance pitch deck through thoughtful design
Involved in the process of raising capital and sourcing and securing debt financing.
Prepare term sheets and letters of intent outlining key terms and conditions for potential investors and/or lending sources.
Prepare development budgets and pro forma operating budgets and manage the development budget throughout the development process to ensure balanced sources and uses, and achievement of revenue goals
Assist in securing the financial resources necessary to undertake various transactions, including preparing applications for tax credits, soft funding resources, and responses to Requests for Qualifications/Proposals (on certain projects)
Review and negotiate draft loan and partnership documents and manage the financial closing on each assigned development; coordinate with federal, state and local government agencies, ensuring that all financing and government regulations are met and required approvals obtained
Experience with EB5 preferable
Work with the Principal on proposed development projects including but not limited to project financing, reviewing, and providing progress updates on projects under pursuit, construction and lease-up.
Negotiate or assist in the negotiation of complex legal contracts including but not limited to term sheets, loan documents and joint venture agreements.
Maintain a high degree of professionalism, integrity, and a strong work ethic driven by a desire for quality

Qualifications:

Bachelor’s Degree or equivalent in Real Estate, Hotel Administration or Business; MBA or other advanced degree preferred
5+ Years in Real Estate Development with an emphasis on vertical development (high rise experience), land development and project management
Dynamic verbal and written communication skills and strong interpersonal abilities.
Strong analytical and quantitative skills, with an excellent financial acumen and high proficiency with real estate underwriting and real estate finance concepts.
Experience with complex, multi-layered real estate financing,
Comfortable with public speaking and community presentations.
Strong quantitative, financial analysis and Excel modeling skills are required.
Must have excellent analytical skills, be detail-oriented, have good business sense, and be able to work on numerous projects concurrently and prioritize workload independently.
Good decision-making skills, sound judgment, and problem-solving approach.
Ability to take initiative and with confidence