Manager of Development Transactions

Realty Income Corporation • San Diego, CA

6d • $83,203 - $130,178 • Hybrid

About The Position

Realty Income is seeking a Manager of Development Transactions (Development Manager) to support the execution of redevelopment projects, acquisitions development funding, and other value-add transactions. This role involves conducting internal analytics for negotiation and decision-making, preparing materials for the Investment Committee, and facilitating communication across departments. The Development Manager will also engage in external deal negotiations with tenants, brokers, and developers, requiring a strong understanding of various deal structures.

Requirements

• Bachelor’s degree (B.A.) from a four-year college or university with a finance/real estate background.
• Minimum of 3+ years of experience working in real estate transactions, leasing and disposition and/or development. Ideally in retail and/or industrial.
• Knowledge of the use and applicability of budgeting, cash flows, and financial analysis for commercial real estate transactions.
• Understanding of commercial real estate and financial statements.
• Proficient in MS Office Suite.
• Excellent written, verbal, and negotiation skills, with the ability to clearly communicate complex issues to leadership, tenants/clients, developers, and brokers.
• Able to build and maintain solid internal and external relationships.
• Able to manage multiple priorities, adapt to changing assignments, work under pressure, and meet deadlines.
• Seek full understanding by asking questions and clarifying instructions to eliminate ambiguity.
• Strong organizational, prioritization, and project management skills.
• Strong understanding of financial modeling, financial statement analysis, corporate finance, and transaction structuring.
• Developing proficiency in using and applying rationale, fact-based business judgment; applying reasonableness in analyzing tasks/issues.

Nice To Haves

• Progress towards continuing education such as MBA, CFS, MSRE, MRED, or CCIM preferred.

Responsibilities

• Review, analyze, and evaluate properties for redevelopment suitability, including pad leasing, outparcel built-to-suit, repurposing of assets, demising of big box space, and razing and rebuilding for retail or industrial development.
• Research and compile market and trade area information, including zoning, property taxes, demographics, easements, and use restrictions.
• Review budgets and analyze economics for redevelopment or development funding.
• Conduct market and financial analysis, gather information from other departments, to determine the best outcome among redevelopment, re-lease, or sale options.
• Assist with broker, developer, and tenant communications.
• Assist in reviewing and assessing developer, tenant, and property-level financial performance.
• Assist in preparing and presenting financial analysis and reports to the Investment Committee.
• Train Analysts in underwriting, land valuation, survey, REA review, project tracking, and construction budgets.
• Prepare and deliver detailed requests to the Legal Department to initiate the formal transaction process.
• Draft Letters of Intent and other preliminary legal documents for acquisition and leasing of commercial real estate.
• Track and communicate internally property-level redevelopment activity to ensure a seamless flow of information.
• Create and present pitches containing deal structure and talking points to various tenant prospects for redevelopment.
• Collaborate with transaction leads and legal teams to update tracking information regularly.
• Maintain a list of upcoming opportunities for commercial redevelopment.
• Participate in endeavors to investigate new enterprise-level applications for reporting and data management.
• Provide development reporting estimates for capital markets on an as-needed basis.
• Validate and reconcile metrics for quarterly reporting requirements.
• Assist with other new development opportunities as tenant interest grows.
• Assist with project coordination on an as-needed basis.
• Complete special projects and duties as assigned.

Benefits

• Healthcare insurance
• Dental insurance
• Vision insurance
• 401(k)-retirement plan with a company match of 50% up to 6% of eligible compensation
• Wellness benefits
• Financial benefits
• Work/lifestyle-specific benefits
• Generous PTO accrual
• 12 paid holidays
• Paid volunteer time
• Annual discretionary bonus
• Annual discretionary stock award

What This Job Offers

• Job Type: Full-time
• Career Level: Manager