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LOCATION:
Chicago, IL COMPANY:
Our client,
Banner Real Estate Group
is a group of vertically integrated real estate companiesfocusing on the development, acquisition and management of multifamily properties and the acquisition and development of self-storage facilities nationwide. Founded in 1989, the family-owned, independent investment manager has acquired and/or developed 55 multifamily properties totaling 10,900 units and 25 self-storage properties totaling 2.1 million square feet. The company’s success is due to the strong and consistent performance of its experienced management team, supported by a largely independent Board of Directors. The firm’s focus is on capital preservation and value creation for its high-net-worth investors, family offices and institutional partners. A combination of Banner’s outstanding track record of investments, combined with the financial strength and national operating platform, create an ideal opportunity for the firm to expand and scale in the coming years. For more information, please visit the Company’s website:
https://www.bannerrealestategroup.com/ RESPONSIBILITIES:
Reporting to the Chief Executive Officer, the Chief Investment Officer will be a key member of Banner’s senior leadership working across the organization, including oversight of deal teams and deal pipelines. This individual will create, implement, and execute strategic plans to expand and scale the Company’s multi-family and self-storage development platforms. The CIO will lead key relationships with institutional equity partners, including programmatic investment partnerships and strategic joint ventures. In addition, the CIO will be responsible for relationships with lenders, consultants, and key stakeholders related to the successful structuring and execution of deal flow across multifamily development, storage development, and storage acquisitions. He or she will have the potential to expand Banner into other asset classes over time. The Chief Investment Officer role will be successfully filled by someone who can demonstrate the ability to set strategy, drive deal flow, lead the team and execute capital markets activities. Specific responsibilities include: As a member of the senior leadership team, help set the strategic direction of the company. Act as a key leader of the firm with oversight and management of the deal teams. Collaborate with internal teams to evaluate investment opportunities and guide the development team in structuring, negotiation and execution of real estate transactions. Review pipeline goals and investment theses on a regular basis to evaluate opportunities and manage risk to the firm. Source joint venture equity and debt through intermediaries and the CIO’s professional network of relationships in support of the company’s speculative development pipeline. Oversee the execution of property level capital stack including equity and debt. Monitor, evaluate and assess the risks, financial returns and performance of developments and storage acquisitions to ensure financial strength and performance of portfolio investments for value creation and risk mitigation. Maintain a strong understanding of market trends and conditions in the multi-family and self-storage real estate industries. Represent the company at external forums. Focus on both internal and external relationships to maintain and grow Banner’s reputation. Serve on the firm’s Investment Committee and set expectations and standards for the deal team ahead of IC meetings. QUALIFICATIONS:
Candidates will have 15 years or more of institutional real estate experience. A demonstrable track record of raising capital, especially institutional equity, in real estate is required, as is an ability to contribute strategically to the company’s business. Ideally, the successful candidate will have worked in a similar role with another developer/owner operator. Other functional experience in acquisitions, dispositions and portfolio/asset management may be relevant as well. Qualified candidates must possess: Candidates are expected to be collaborative, confident decision makers/big picture thinkers and possess a strong work ethic. Proven leadership and general management skills, with a willingness to take on responsibility and be accountable for results. In-depth knowledge of real estate development and acquisitions financing. Specific experience in multifamily development is strongly preferred. Prior exposure to the self-storage asset class is a plus, along with some acquisition experience. Experience in closing deals and negotiating legal documents. The experience and ability to bring best-in-class processes, standards, deal sourcing and risk management tools to the organization. Creative deal structuring experience. Strong negotiation and communication skills. Excellent written and oral communication skills. Knowledge of target markets in the Midwest and the Southeast, Florida, California and Texas will also be a significant plus in determining the strongest candidates. Bachelor’s degree in real estate, finance or a related field. Master’s degree a plus, but not required. COMPENSATION:
Given the importance of this person’s contribution to the company, our client is prepared to pay a market competitive salary as well as a performance-based incentive. CONTACT:
For more information please contact: Jay Costley
M:312.342.1806
jcostley@alliumpartners.com Kate D'Esposito
M: 708.308.5910
kdesposito@alliumpartners.com Amy Nelson
M: 312.342.3514
anelson@alliumpartners.com
#J-18808-Ljbffr
Chicago, IL COMPANY:
Our client,
Banner Real Estate Group
is a group of vertically integrated real estate companiesfocusing on the development, acquisition and management of multifamily properties and the acquisition and development of self-storage facilities nationwide. Founded in 1989, the family-owned, independent investment manager has acquired and/or developed 55 multifamily properties totaling 10,900 units and 25 self-storage properties totaling 2.1 million square feet. The company’s success is due to the strong and consistent performance of its experienced management team, supported by a largely independent Board of Directors. The firm’s focus is on capital preservation and value creation for its high-net-worth investors, family offices and institutional partners. A combination of Banner’s outstanding track record of investments, combined with the financial strength and national operating platform, create an ideal opportunity for the firm to expand and scale in the coming years. For more information, please visit the Company’s website:
https://www.bannerrealestategroup.com/ RESPONSIBILITIES:
Reporting to the Chief Executive Officer, the Chief Investment Officer will be a key member of Banner’s senior leadership working across the organization, including oversight of deal teams and deal pipelines. This individual will create, implement, and execute strategic plans to expand and scale the Company’s multi-family and self-storage development platforms. The CIO will lead key relationships with institutional equity partners, including programmatic investment partnerships and strategic joint ventures. In addition, the CIO will be responsible for relationships with lenders, consultants, and key stakeholders related to the successful structuring and execution of deal flow across multifamily development, storage development, and storage acquisitions. He or she will have the potential to expand Banner into other asset classes over time. The Chief Investment Officer role will be successfully filled by someone who can demonstrate the ability to set strategy, drive deal flow, lead the team and execute capital markets activities. Specific responsibilities include: As a member of the senior leadership team, help set the strategic direction of the company. Act as a key leader of the firm with oversight and management of the deal teams. Collaborate with internal teams to evaluate investment opportunities and guide the development team in structuring, negotiation and execution of real estate transactions. Review pipeline goals and investment theses on a regular basis to evaluate opportunities and manage risk to the firm. Source joint venture equity and debt through intermediaries and the CIO’s professional network of relationships in support of the company’s speculative development pipeline. Oversee the execution of property level capital stack including equity and debt. Monitor, evaluate and assess the risks, financial returns and performance of developments and storage acquisitions to ensure financial strength and performance of portfolio investments for value creation and risk mitigation. Maintain a strong understanding of market trends and conditions in the multi-family and self-storage real estate industries. Represent the company at external forums. Focus on both internal and external relationships to maintain and grow Banner’s reputation. Serve on the firm’s Investment Committee and set expectations and standards for the deal team ahead of IC meetings. QUALIFICATIONS:
Candidates will have 15 years or more of institutional real estate experience. A demonstrable track record of raising capital, especially institutional equity, in real estate is required, as is an ability to contribute strategically to the company’s business. Ideally, the successful candidate will have worked in a similar role with another developer/owner operator. Other functional experience in acquisitions, dispositions and portfolio/asset management may be relevant as well. Qualified candidates must possess: Candidates are expected to be collaborative, confident decision makers/big picture thinkers and possess a strong work ethic. Proven leadership and general management skills, with a willingness to take on responsibility and be accountable for results. In-depth knowledge of real estate development and acquisitions financing. Specific experience in multifamily development is strongly preferred. Prior exposure to the self-storage asset class is a plus, along with some acquisition experience. Experience in closing deals and negotiating legal documents. The experience and ability to bring best-in-class processes, standards, deal sourcing and risk management tools to the organization. Creative deal structuring experience. Strong negotiation and communication skills. Excellent written and oral communication skills. Knowledge of target markets in the Midwest and the Southeast, Florida, California and Texas will also be a significant plus in determining the strongest candidates. Bachelor’s degree in real estate, finance or a related field. Master’s degree a plus, but not required. COMPENSATION:
Given the importance of this person’s contribution to the company, our client is prepared to pay a market competitive salary as well as a performance-based incentive. CONTACT:
For more information please contact: Jay Costley
M:312.342.1806
jcostley@alliumpartners.com Kate D'Esposito
M: 708.308.5910
kdesposito@alliumpartners.com Amy Nelson
M: 312.342.3514
anelson@alliumpartners.com
#J-18808-Ljbffr