• Director, Residential

    Boston Properties Washington, DC 20080

    Job #2367577239

  • Primary Purpose of Position:

    This position will work with the Senior Vice President, Residential, to manage and grow BXP's companywide residential business. The role will work in collaboration and consultation with BXP's Executive Management, Regional Development & Legal departments, and Corporate Capital Markets & Finance teams. Primary responsibilities will include sourcing new residential development opportunities, developing financial and market analyses for potential transactions, strategic oversight of existing in-service assets, and working with capital partners to structure and fund the Company's desired residential growth. The role will be a key interface with external stakeholders (brokers, development partners, capital partners, lenders, and consultants).

    Essential Functions:

    • Assist in formulating the Company's residential growth strategy and business plan.

    • Formulate and select target development/investment strategies, submarkets, and residential opportunities.

    • Source new residential development opportunities and acquisitions across the Company's national platform.

    • Develop project underwriting and financial analysis for potential new business opportunities.

    • Prepare and present due diligence findings, financial model outputs, market trends and projections, and investment recommendations for new business and acquisition opportunities.

    • Investigate site zoning, land use, and entitlements for sourced opportunities.

    • Assist with the strategy, underwriting, and funding of the Company's current residential development pipeline (+2,800 units).

    • Coordinate with the Company's Capital Markets, Development, and Legal teams and Senior Management to structure joint venture partnerships for the residential business and to close transactions.

    • Coordinate the efforts of Development and Construction personnel in support of sourcing and pre-development activities.

    • Maintain and update a residential investment pipeline and track marketed and off-market deals.

    • Assist in the strategy for and management of the Company's existing residential portfolio (2,075 units nationally).

    • Produce and maintain the various project information and reporting requirements of all in-service and pipeline residential assets. Present portfolio performance to Senior Management on a quarterly basis.

    • Participate in real estate and residential focused industry groups.

    • Perform other duties as assigned.

    Requirements and Qualifications:

    • A BA/BS degree required with a concentration in finance, engineering, architecture, or environmental science program related to real estate preferred.

    • A minimum of 5-7 years of applicable experience underwriting, sourcing, and/or developing commercial real estate assets and projects; residential experience preferred.

    • Masters in Business Administration or Masters in a real estate related discipline preferred but not required.

    • Experience must include demonstrable knowledge of real estate valuation techniques and modeling, project finance, development project cash flow modeling, public approvals and the permitting/entitlement process.

    • Excellent analytical and problem-solving skills.

    • Excellent verbal and written communications skills.

    • Ability to handle multiple tasks simultaneously while under pressure.

    • Ability to interact with co-workers, land owners, brokers, partners, and/or vendors in an articulate, courteous, and business-like manner at all times.

    • Ability to produce quality work in consistent manner.

    • Ability to manage complex, multifaceted projects and teams.

    • Results oriented.

    • Excellent negotiation and conflict-resolution skills.

    • Ability to produce quantity of work necessary to complete assigned tasks in a timely manner.

    • Self-motivated with the ability to work autonomously or to work as part of a team.

    • Adaptability to changing demands.

    • Proficiency in Microsoft Office applications.

    Physical Requirements:

    • Involves work of a general office nature usually performed sitting such as operation of a computer.

    • Involves work of a general office nature usually performed standing such as operation of a fax and printer.

    • Involves work such as tours throughout property portfolio, including to construction sites, usually performed by walking and by climbing stairs, and riding construction hoists, often at extreme heights.

    • Involves movement between departments to facilitate work.

    • Involves lifting plans or boxes of 25 pounds or more occasionally.

    Internal and External Contacts:

    • Communication required internally throughout the organization. External contacts include but are not limited to public officials, capital partners, consultants, brokers, vendors, and contractors.

    Reporting Structure:

    • This position reports to the Senior Vice President, Residential who provides assignments, supervision, and guidance and who will coordinate, evaluate, and monitor work performance on a periodic basis.

    As a federal contractor and in observance of our company's vaccination policy , Boston Properties is required to verify that all employees are fully vaccinated against COVID-19, therefore, all offers of employment are contingent on the candidate providing proof of being fully vaccinated against COVID-19. Individuals with medical conditions or sincerely held religious beliefs that prevent them from getting the vaccine can request an exemption from the vaccination requirement.

    Boston Properties is an Affirmative Action and Equal Opportunity Employer. We are committed to fair and impartial treatment in all of our relations with employees, as well as applicants for employment, to recruit, upgrade, train, and promote in all job titles without regard to race, color, gender, gender identity or expression, sexual orientation, religion, age, national origin, disability, marital status, protected veteran status, genetic information or any other legally protected characteristic.

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