What are the responsibilities and job description for the Director, Land Acquisitions (Seattle) position at JPI?

About The Company

Built on a foundation of integrity, respect, and commitment, JPI stands out as one of the most active real estate developers and builders in the nation. For more than 35 years, JPI has designed and developed communities with best-in-class homes and amenities. JPI is committed to data-driven management and continuous improvement. Its team of experts utilizes data - including unparalleled market research, proven business processes, and proprietary models - to ensure that every decision is strategic, focused, and produces exceptional multifamily communities with the best risk-adjusted returns. More than just great communities, JPI is focused on leaving a lasting impact on the communities where we build and is continually committed to "Building What Matters." JPI operates as a subsidiary of Sumitomo Forestry, which is recognized as one of the largest home builders in the United States.

About the Job

The role of the Director, Land Acquisitions is to focus on the Seattle region. This position will be responsible for sourcing, entitling, and acquiring new multifamily development opportunities and ensuring the Business Plan production targets are met. This position will work closely with Development Analyst, Development Associate, Development Manager, Vice President and Senior Vice President roles to develop appropriate deal pipeline.

Essential Duties & Responsibilities :

Source New Deals

Responsible for sourcing new deals in King, Snohomish and Pierce County to help fill the regions business plan goals.
Research development opportunities.
Cultivate relationships with Broker community.
Direct source development opportunities through strategic avenues.
Direct, review, and confirm underwriting from Development Associates / Analysts for local assumptions.
Understand different structures to capitalize affordable housing in public private partnerships with support from the JPI team.

Pursue Entitlements

Work with JPI team on submittals, timelines, interface with elected officials and city staff to negotiate and secure entitlements for new developments.

Gain Control of New Sites

Prepare and submit letters of intent.

Negotiate and secure main economic terms with land sellers.

Lead land purchase contract preparation, negotiation, and execution.

Ensure that all aspects and obligations of land purchase contracts are met appropriately.

Investment Committee Approval

Lead the development of investment packages and pitches for presentation to the Investment Committee.

Manage and verify / confirm all aspects of underwriting analysis.

Assist in the oversight for the creation and preparation of power point presentation for Investment Committee.

Create the investment vision and ensure vision is accurately translated through the Investment Committee presentation.

Market Research

Train, manage and verify analyst's efforts in tracking market economics for new multi-family development sites and stabilized asset sales including return on cost and cap rate metrics.

Build networking capabilities through attending industry conferences and meeting people in the broker community.

Land Closing, Project Capitalization and Disposition

Assist in other functions as needed during capital raise and disposition process (e.g. preparation of capital and disposition offering documents and conducting site tours).

Project Entitlement and Design

Work with other functions as needed to ensure the project vision is carried out through the design and entitlement process.

Leadership

Mentor and help develop Acquisition Manager(s) and Associate / Analyst(s) for career growth and high performance.

Assist in the selection and training of new team members.

Non-Essential Duties & Responsibilities :

Other duties as assigned.

Education, Work Experience, & Physical Requirements :

Bachelor's degree in Business, Finance, Accounting, Real Estate, Engineering, Math or related field required. Graduate degree and / or relevant professional certifications encouraged.

7-9 years of related experience preferred.

While not a primary responsibility for this position, it is expected that candidates will have a significant track record of experience in and thorough understanding of managing and leading all aspects of the development process including due diligence, entitlements, (re)zoning, project design, capitalization, and asset / property management.

Candidate must also possess mastery of real estate investment financial analysis and understand how to calculate and interpret return metrics (Cap Rate, IRR, Return on Cost, Residual Value etc.)

Why work for us?

We are a People First culture, and seek team members who are hungry, humble, and people smart with an eye to continuous improvement. Our culture begins with people and our goal is to attract, retain, and grow the best talent in the industry. Through ongoing investment in the development of our people, we provide meaningful opportunities for professional success and fulfillment. Led by values and principle-based leadership, our team approaches every project with responsibility, accountability, and integrity.

Industry Recognition

We're not inclined to brag, but we have been recognized on some impressive lists. Here are just a few of our noteworthy recognitions :

NMHC - #1 Fastest Growing Developer; #2 Fastest Growing Building; #8 Largest National Developer; # 11 Largest National Builder

Real Page - Most active multifamily developer in DFW for the past 8 years

Dallas Business Journal Best Places to Work - 2023

Dallas Business Journal - Largest DFW Real Estate Developers - #11

JPI offers associates a comprehensive benefits package with competitive salaries and more including :

Competitive Bonus Program

4 Weeks PTO for All New Associates (Pro-Rated by Hire Date)

11 Holidays and 8 Early Release Days

Medical, Dental, Vision and Life Insurance

401(k) with Company Match (Up to 5% Match)

Health Savings Account

Flexible Spending Accounts (Dependent & Medical Reimbursement)

Paid Parental Leave

Paid Volunteer Time

Tuition Assistance

Phone Reimbursement

Associate Referral Bonuses

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Director, Land Acquisitions (Seattle)

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