Associate, Development

Bethesda, MD

Who We Are: BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $69 billion USD of assets under management (as of October 1, 2021) and expertise in the asset management of office, industrial, multi-residential, retail and hotel property across the globe. BentallGreenOak has offices in 24 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets. BentallGreenOak is a part of SLC Management, which is the alternatives asset management business of Sun Life.

The assets under management shown above include real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates.

For more information, please visit www.bentallgreenoak.com

BentallGreenOak promotes a corporate culture that attracts and retains the highest caliber people. We encourage opportunities for growth, development and promotion by providing our employees with the resources to work effectively and continually strive to perform better. We are committed to a safe and sustainable work environment.

Position Responsibilities:

Project Management: The Associate will assist in the management of development projects as BGO’s owner representative in cooperation with joint venture developer partners or fee developers. The Associate will work with third-party construction consultants and in-house accounting to ensure the timely funding and successful completion of all aspects of the development, including:

• Oversee design development, pre-construction, and value engineering process with developer, architect, and contractors to ensure functional designs that meet market demand and which can be constructed within budget and schedule.
• Review developer’s proposed bidders and bid packages, review construction bids, review general contractor qualifications, review construction contract with advice from legal counsel, and ensure appropriate bonding and insurance coverage, in conjunction with BGO’s construction and insurance consultants.
• Attend progress meetings and monitor construction progress to ensure compliance with project budget, schedule and quality standards of client and insurance carrier.
• Manage project budget and cash flows; assemble and process draw packages; review and approve funding requests and construction draws from developer and general contractor.
• Review and recommend approval of proposed change orders in consultation with the developer, architect, and construction consultant, and maintain accurate records of proposed and approved changes to contracts.
• Provide project-level status reports on a timely and accurate basis.
• Assist in the transition of the project from Development & Construction Management over to Asset Management as the project nears substantial completion, including contract and punch list close-out.
• Complete special and ad hoc internal and external projects, as assigned.

Investments: The Associate of Development will assist in the pursuit, due diligence, and closing of new development projects, working in collaboration with BGO’s Investment team to:

• Assess the viability of plans, budget and schedule of prospective projects on behalf of various clients.
• With assistance from legal counsel, review status of entitlements, zoning, title, survey, land purchase agreements, and construction contracts.
• With assistance from consultants, review project costs and schedule, and environmental, geotechnical, and construction studies and reports.
• Assist in the writing and presenting of Investment Memorandums to BentallGreenOak’s Investment Committee for approval.
• Interact with brokers, sellers, developers, etc. to accurately understand and determine transaction assumptions and risks associated with potential investment opportunities.
• Assist in the negotiation of land purchase contracts, joint venture agreements, and development services agreements.
• Present summary findings of due diligence and recommendations to client for final approval.

Education and Experience:

A four-year undergraduate college degree in construction management, business administration, engineering, or architecture preferred. Master’s degree with focus in real estate or finance is a plus. Candidates should have at least three years of experience in real estate development, project management, and/or construction, and will have worked for a developer, general contractor, REIT, opportunity or value-add fund, real estate advisor, or similar organization.

Essential Qualifications:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Highly proficient in MS Excel with ability to create detailed budgets / cash flows for development projects and perform pro forma models
• Proficiency in PowerPoint and Word
• Proficiency in scheduling software (MS Project; Primavera; etc.) is a plus.
• Cumulative exposure to all phases of ground-up development projects (entitlement/pre-dev, construction, close-out)
• Thrives in a varied work environment, managing several projects at once with ability to work independently and with acute attention to detail.
• Skilled in creating development project budgets and schedules, monitoring construction budgets and schedules, reviewing construction draws, tracking change requests and change orders, preparing quarterly status reports for senior management, and assisting in the close-out of contracts and punch lists
• Ability to travel

Reasonable accommodation at any time throughout the hiring process is available through BentallGreenOak's People & Talent (P & T) department for applicants with disabilities or for those needing job postings in an alternate format. If you require accommodation, please email us at accessibility@bentallgreenoak.com and include: Job posting #, your name and your preferred method of contact.