Director of Capital Improvement

About Us

Cardone Capital is a leading multifamily real estate investment firm with a portfolio of over 15,000 apartments across the Sunbelt region, with a strong concentration in Florida. Our mission is to deliver exceptional value to our investors, partners, and residents through strategic acquisitions, disciplined asset management, and operational excellence.

Position Summary

The Director of Capital Improvements is responsible for overseeing all capital improvement projects across a portfolio of apartment communities. This role ensures that all capital work is properly scoped, competitively bid, negotiated, and executed efficiently and costeffectively. The Director will also develop short and longterm capital plans, identify and prioritize improvements that enhance asset value, financial performance, and resident satisfaction, and support asset management through disciplined financial controls and reporting.

Key Responsibilities

• Lead the planning, bidding, budgeting, negotiation, and execution of capital improvement projects across the portfolio.
• Negotiate contractor and vendor pricing, contracts, scopes of work, and change orders to ensure bestinclass pricing and adherence to company standards.
• Ensure all projects are competitively bid and contracts are awarded in alignment with approved budgets and pricing expectations.
• Prepare and manage monthly capital reimbursement draw packages, including lender required documentation, invoices, lien waivers, pay applications, and supporting schedules.
• Coordinate closely with asset management, accounting, and lenders to ensure timely and accurate funding of capital expenditures.
• Develop and maintain 1year, 3year, and 5year capital improvement plans for each property in collaboration with asset management and property management teams.
• Conduct regular property inspections to assess physical condition, validate scopes, and identify additional capital needs.
• Monitor project progress, resolve issues, manage schedules, and communicate status updates to internal stakeholders.
• Ensure compliance with all local, state, and federal regulations related to construction, life safety, and property improvements.
• Evaluate return on investment (ROI) for capital initiatives and recommend projects aligned with portfolio strategy.
• Maintain detailed documentation and reporting on project scopes, bids, contracts, costs, reimbursement draws, and project outcomes.

Qualifications

• Bachelor’s degree in Construction Management, Engineering, Real Estate, or a related field preferred.
• Minimum of 7–10 years of experience managing capital improvement or construction projects within multifamily real estate or a related industry.
• Demonstrated experience negotiating contract pricing, managing vendor relationships, and controlling construction costs.
• Strong working knowledge of construction budgeting, lender draw processes, and reimbursement requirements.
• Solid understanding of building systems, construction methods, and code compliance.
• Exceptional organizational, financial, and project management skills.
• Excellent communication and interpersonal skills.
• Proficiency in Microsoft Office and project management/accounting systems (e.g., Procore, Yardi, or similar).

Preferred Qualifications

• Professional certifications such as PMP, LEED AP, GC or similar.
• Experience with valueadd renovations, large scale repositioning, or portfolio wide capital programs in multifamily assets.