Business Development Executive
Business Development | Palo Alto, CA | Full Time
About the Company
Hanover Financial, LLC is a fiduciary real estate capital manager with offices in Los Angeles and the San Francisco Bay Area, whose niche is providing joint venture equity capital to local and national developers and operators of real estate to facilitate the acquisition, reposition and/or development of multi-family and single tenant NNN properties. Hanover’s investment platform includes its private equity program, Hanover NNN Partners. Hanover's environment encourages entrepreneurial creativity for those who thrive in a fast-paced multi-task culture, adhering to a disciplined investment strategy, while having fun within a supportive team. Since its founding, Hanover has completed over 100 investments totaling over $2 billion of real estate projects.
Hanover Financial is an affiliate of Marcus and Millichap Company. More information can be found at: www.hanoverfinancialllc.com.
Based in either Los Angeles or the San Francisco Bay Area, the Business Development Executive position is exciting, offering a myriad of opportunities and responsibilities with the primary focus of establishing joint-venture programmatic relationships with developers of single tenant NNN assets. The single tenant NNN development focus is nationwide and encompasses quick service restaurants, supermarkets, convenience stores, auto service, healthcare and other retailers or service providers that cannot be easily duplicated via the internet. This position offers the potential to rapidly grow and to become one of the senior leaders in the company as Hanover expands.
Primary Responsibilities Include:
- Identifying and closing programmatic joint ventures with developers of single tenant NNN assets in the market areas outlined above which includes business development, preparing investment presentations, and enhancing cultivated sponsor/partnership relationships.
- Performing initial analysis of proposed new investments including development plan, economics, proposed capital budgets, leasing plans and final disposition strategy.
- Performing initial due diligence of proposed new partnership/investment transactions and preparation of transaction support, and writing proposals for final investment committee presentations.
- Supporting asset management including preparation of reports, asset site inspections nationwide, and maintaining sponsor/partnership relationships.
- Supporting management in preparation of strategy presentations.
- Other duties as assigned.
Education, Skills & Qualifications:
- Minimum Bachelor’s Degree with strong writing skills.
- Minimum two years of experience in forming joint ventures to develop single tenant NNN assets, and/or experience selling single tenant NNN assets/
- Understanding of development and underwriting, and/or relationships with retailers and developers as a site selector and/or a single tenant NNN real estate sales broker.
- Microsoft Excel, Argus, Financial Modeling experience is helpful and a plus.
- Ability to work independently and as part of team that includes the disciplines of finance, research, acquisitions, asset management, marketing
- Must be able to communicate effectively, either written or verbal.
- Ability to travel nationwide (as much as 70% of the time).