Role Overview
The Development and Investments Director will help to advance Shift’s mission to build just and equitable communities by leading transactions to acquire and/or develop a range of impact projects, including mixed-use, mixed-income projects. The role will involve collaboration with public and private partners, including joint venture co-manager partners. Primary responsibilities will include end-to-end management of the deal lifecycle: underwriting project opportunities; designing and evaluating business plans; negotiating deal terms; managing the transaction process through financing, design, closing, construction, and stabilization; ongoing asset management; and disposition of assets. Other responsibilities will include coordinating with internal Shift teams and executives to drive a variety of portfolio-level value creation initiatives, as well as leveraging best practices for transaction processes and procedures. The role will require a combination of critical thinking, self-initiative, resourcefulness, solution orientation, interest in impact real estate and finance, and a collaborative mindset to work across teams and with external partners.
Responsibilities
- Drive implementation of business plans after transaction closing and work with team to resolve challenges, including leading thorough asset management in collaboration with property management teams to ensure project performance
- Develop analytical tools and frameworks to rigorously evaluate business plans to support executive decision-making
- Cultivate government and co-developer partnerships for impact projects; lead the preparation of subsidy applications and proposals (e.g., transit-oriented development loans / grants, green retrofit and sustainability loans / grants, affordable preservation subsidies)
- Prepare term sheets, offer letters, investment memos, closing summaries, and other transaction-related documents; thoroughly review all deal documentation to ensure alignment with business plans
- Drive lender and investor processes to leverage financing and close transactions; lead the preparation of lender draw packages and investor reports to ensure accuracy and alignment with business plans
- Establish and implement protocols to track impact metrics and project and portfolio performance
- Manage internal and external partner relationships
- Collaborate cross-functionally with internal and external colleagues to optimize team efficiency and effectiveness
- Support executive team with transaction-related tasks and organizational initiatives to drive value creation and optimize systems to support execution and growth across all project, fund, and organizational levels
- Working with the Shift network of partners to identify and assess potential deal opportunities, including identifying risks and opportunities based on review of due diligence materials; evaluating opportunities to renew or leverage new federal, state, and local subsidy to maximize project impact; and optimizing project structure
Your Qualifications
- 5-10 years of real estate experience and project management preferred
- Quantitative analysis and Excel modeling skills
- Public Private Partnership experience
- Tax credit experience (LIHTC, NMTC, HTC) is preferred
- Ability to think critically and work independently
- Self-initiative to learn, analyze challenges, research solutions, and drive resolutions
- Strong organizational and time management skills
- Ability to work collaboratively with a variety of teams and stakeholders
- Desire to work on a range of projects and identify innovative solutions to drive change
- Genuine interest in building more equitable communities and creating lasting impact
Compensation
The compensation range for this position is $125k to $150k, commensurate with experience. Shift Capital is an equal-opportunity employer. Please submit your resume and cover letter to careers@shiftcapital.us
SHIFT Capital
SHIFT is a nationally-recognized neighborhood investment group who executes real estate projects and financing strategies that create equitable and thriving communities. SHIFT believes community-centered investments create shared and sustainable economic opportunity and growth, and impact that unites people, businesses, neighborhoods, and cities. To date, SHIFT has invested over $358 million in the neighborhoods we serve to create ecosystems that strengthen entrepreneurship, creativity, and value for tenants, and health and safety for communities. SHIFT owns and manages a mix of 2 million square feet of new and repurposed industrial, commercial, and residential spaces for small businesses, entrepreneurs, and residents. For more information on SHIFT, visit ShiftCapital.us.
Why we exist
We exist to build more just neighborhoods.
What we do
We execute real estate projects and create financing strategies that lead to more equitable
neighborhoods for the long-term.
What we expect from our team
- Creative – resourceful decision making, integrating both independence and collaboration
- Unflappable – confident, flexible, deliberate, and diligent in crisis and in calm
- Relentless – driving towards the goal, stopping only at completion
- Compassionate – understanding for the communities and stakeholders we work with
Our team is responsible for $1B+ in development, construction, and investment, across the country. We own and manage just under 2 million square feet of real estate, including commercial, residential, mixed-use, and vacant lots. Together with our partners, we are:
- Re-energizing obsolete industrial buildings to foster economic development through
- various businesses and entrepreneurs
- Refurbishing vacated residences to provide affordable homes for the community
- Recapturing the vitality of once thriving main streets through innovative programming to
- help launch new small businesses
Compensation
The compensation range for this position is $125k to $150k, commensurate with experience. Shift Capital is an equal-opportunity employer. Please submit your resume and cover letter to careers@shiftcapital.us
