Real Estate Development / Site Acquisition Manager (Commercial/Hotel/Retail/Land/Property)

The Employer: HRMC has partnered with a privately held, family-owned and operated real estate development company that owns, develops, designs and builds Drury Hotels. For over 51 years, the Drury family of companies has operated on good business values of hard work, fair prices, dedication and honesty, and currently owns and operates over 150 hotel properties in 27 states. This is a vertically integrated company with over 100 employees actively developing and building over 1,000 new Drury hotel rooms at a time, across the country.  With an experienced in-house team of developers, architects, engineers, interior designers, construction managers, legal support, and finance professionals, this team comes together to complete projects that live up to the company’s founding principles, delivering the highest quality hotels at fair and honest prices.

Basic Function: The Development Manager is responsible for managing all functional areas of the development team process including strategic research/analysis, market feasibility, site acquisition, zoning/entitlement and asset management. This includes direct interaction with land owners, city officials and consultants to achieve desired development conditions. The Development Manager will collaborate with the company’s internal departments (i.e. architecture, construction and legal) to produce agreements, reports, and plans necessary for development projects. The Development Manager will work closely with other Development Team members researching, compiling and managing data to identify key insights and develop strategy for successful development of future Drury Hotel sites. "Help us shape long-term strategies for expanding our hospitality and commercial portfolio."

Working Relationships:

◼ Reports to a Director of Development and collaborates with other members of the development team and company.

◼ Collaborates with departments throughout the company including architecture, construction, engineering, design, legal, finance, and accounting. Leads multi-department projects or lines of effort.

◼ Mentors, supports and leads internal Development Associates and Development Analysts on project/market specific tasks.

◼ Hires and manages external resources (consultants, engineers, etc.) as required for site specific tasks.

General Job Duties:

◼ Evaluates and assesses potential real estate acquisitions, dispositions, and development opportunities in new and existing markets.

◼ Facilitates the development of market area plans and long-term strategies, including site selection criteria to ensure opportunities for new hotel locations.

◼ Identifies business insights from company data to help establish department and companywide strategic initiatives.

◼ Conducts market visits to evaluate demographics, market, and site conditions, and analyze competition.

◼ Provides timely and accurate analyses of real estate trends and forecasts.

◼ Manages negotiations with sellers and purchasers of real estate.

◼ Coordinates with internal departments (i.e., architecture, construction, and legal) to produce reports, plans, and agreements necessary to complete the respective project(s).

◼ Interacts with city officials to assess regulations and achieve acceptable development conditions.

◼ Develops and manages external resources (consultants, brokers, attorneys, etc.) in support of development activities.

◼ Investigates and determines status of ownership, environmental issues, zoning and other factors which may impact the viability of potential sites.

◼ Completes detailed reviews and analyses of site plans, site attributes and market values on all sites targeted for future acquisition.

◼ Compiles budget and proforma data for sites under consideration utilizing in-depth analysis of the factors impacting market performance and costs.

◼ Assists in the preparation of acquisition/disposition packages for submission to the Real Estate Committee and Board of Directors.

◼ Works with several internal departments and 3rd parties to help resolve various issues (title/closing, zoning, etc.).

General Knowledge, Skill, and Ability:

◼ Experience in real estate and/or development business.

◼ Strong problem solving and critical thinking skills.

◼ Experience in cost analysis, financial analysis and project management.

◼ Must be able to work in a collaborative team environment, take direction from others and think critically.

◼ Strong work ethic with the ability to focus on multiple tasks to deliver accurate, complete assignments.

◼ Demonstrates a positive attitude when handling a variety of daily tasks and challenges.

◼ Displays persistence in overcoming obstacles with a “can-do” mentally.

◼ Must be flexible in approach to tasks recognizing alternatives and improvements to achieve acceptable solutions.

◼ Proficiency in Microsoft Office program required including Outlook, Word, Excel, and Power Point.

◼ Travel is required for market/site review and zoning tasks (Estimated at 20-30%; frequency and duration will vary).

Education/Experience: 

◼ Bachelor’s Degree - business, economics, legal, or finance with real estate emphasis preferred. Advanced degree and/or Hotel industry related experience a plus.

◼ Minimum of 4 years of real estate, development, brokerage, and/or professional experience with a demonstrated track record of success.

◼ Must have thorough knowledge of financial and real estate concepts and negotiation strategies and techniques with strong sales and relationship building experience.

◼  Valid driver’s license and proof of insurance required.

◼  Fluency in English, spoken and written.

◼  Must be able to provide proof of eligibility to work in the U.S.

◼  This is an on-site position; it is not remote or hybrid. You must reside within a reasonable commuting distance to the St. Louis area or be willing to relocate prior to your start date.

Company Benefits:

◼  Paid Time Off (PTO) and Paid Holidays

◼  401K Savings Plan (% matching)

◼  Health, Dental, and Vision Insurance Plans

◼  Other Insurance (Critical Illness, Accident Protection, Basic Life, Supplemental and Dependent Life, and Long and Short-Term Disability)

◼  Flexible Spending Accounts (FSA)

For External Posting Sites: HRMC has been retained by Drury Development Corporation to manage the entire search and screening process. ALL individuals that possess the core qualifications will be required to complete HRMC's online application form at this site (https://hrmcglobal-team.freshteam.com/jobs/UqYzA8jmc5x2/real-estate-development-site-acquisition-manager-commercial-hotel-retail-land-property) prior to scheduling any interviews. HRMC's Search Team will assess the credentials of each applicant.