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Director Asset Development
We are looking for an experienced Director Asset Development for the Dutch Offices & Logistics teams of CBRE Global Investors.
Under the leadership of the Head of Asset Management, this team of 9 real estate professionals manages a portfolio of offices and logistics properties at prime locations with a combined value of approximately EUR 3 billion for various (international) mandates and investment funds.
One of these funds is the CBRE Dutch Office Fund (DOF). DOF invests exclusively in office buildings located at top locations in Amsterdam, Rotterdam, The Hague and Utrecht. Well known investments in the fund’s portfolio are: WTC Amsterdam, WTC Schiphol, WTC Utrecht, UP office building in Amsterdam and the Delftse Poort in Rotterdam. The size of the portfolio currently exceeds EUR 2 billion.
In the coming years, DOF's strategy will be aimed at optimizing the existing portfolio by means of a strong focus on users and expanding the portfolio, which strategy will be partly implemented by initiating own (re) developments, such as WTC Amsterdam Tower Ten as well as a number of possible new development projects in the existing portfolio.
About the role
The real estate market is constantly changing and as a large real estate firm we try to connect seamlessly to the wishes of our tenants and users. We try to stay ahead of our competitors with a lot of attention to quality improvement and possibilities to further tailor our product to future user demand. In this case, it is not only about the characteristics of the building, but also about the desired facilities and services.
In addition, we strive for an optimal investment result for the various (international) mandates and investment funds by drawing up Asset Business Plans, carrying out active asset management, adding value by executing redevelopments, extensions and new developments and by actively managing and optimizing the portfolios with acquisitions and disposals.
With our focus on the best and vibrant locations in the four largest cities of the Netherlands, our (re)development plans are large and complex, given the inner city locations, existing users and often mixed use.
The Director Asset Development plays a crucial role in implementing this strategy. You will be responsible for asset (re)development strategies from initial plans to successful execution. Your primary focus will be on office developments, but you will also work on retail redevelopments, especially in case of transformation into offices or residential. The responsibilities include, among other things, the following activities:
- Spotting opportunities to extend or redevelop existing buildings or to develop new buildings on existing or new acquired positions
- Takes a leading role in the design phase of a (re)development, with support from the Technical Development Director. In this phase you are responsible for:
- Conducting a feasibility study for a potential (re)development scheme including sketch design (SO), program of requirements (PvE), initial cost calculations and cash flow calculations (IRR underwriting models)
- Advising the Fund and / or Separate Account Management on the strategic go/no-go decisions
- Preparing and presenting approval requests to the Investment Committee and Advisory Board, together with the Fund Management
- Giving direction to the further development processes (preliminary design (VO) and final design (DO)) by, among other things, coordination with municipalities (preconditions) and management of the (external) development team to develop an optimal product.
- Supporting the Technical Development Director in the realization of real estate projects, aimed at a smooth construction process and a completion on time and within budget. During this phase:
- the Technical Development Director is responsible for:
- the content and assessment of the design specifications (bestek) and (in case applicable) the technical design (TO) and implementation design (UO)
- the tendering procedure of, among others, the contractor(s)
- coordinating the deliberation with governmental bodies
- managing external project managers attending the construction meeting and assessing additional / less work assignments
- realization of the project
- you remain responsible for:
- the underwriting assumptions and budgets
- building quality and product design
- the Technical Development Director is responsible for:
- Periodically reporting and advising on the progress of the construction phase of the project, including the monthly financial report (budget vs. actuals) (in collaboration with the finance department), in such a way that internal managers are optimally informed about the status of the projects and, if necessary, corrective measures can be taken
- Smooth handover at completion to the asset and property management teams. Support the asset management team during leasing activities.
You will report to the Head of Asset Management Offices & Logistics, but in case of a retail project will also report to the Head of Asset Management Retail. You will work closely with the other two Director Asset Developments (retail and residential) and the two Technical Development Directors (cross sectors). In addition close collaboration is required with the different asset management teams, who remain responsible for leasing activities and contact with existing tenants. Besides executing the largest and difficult (re)developments, you will also guide or supervise (depending on experience) the asset managers on smaller (re)development projects.
CBRE GI has an ambitious policy and goals in the field of ESG (Environment, Social, Government). You are expected to actively contribute to achieving these goals and is responsible for achieving specific sustainability results and certification as part of the project.
- You value a collegial and cooperative attitude to work in a dynamic environment where teamwork determines the result. You radiate confidence and fulfil the role of sparring partner within and outside the organization. You are flexible and can switch quickly. You keep an overview, think broadly and are also punctual.
- You are analytically strong as well as strong on the relationship. You work closely with professional parties in which you can clearly delegate and are also "in control". You feel comfortable in negotiating situations and have demonstrable success in this area. During the work, building and maintaining relationships is a matter of course for you. You have a high degree of responsibility and you work very sharply and accurately.
- You are highly ambitious, progressive, enthusiastic, no-nonsense and you know exactly what the real estate trends and developments are. You have a long-term focus where you present and communicate clearly and strongly at all levels. You assume the desired negotiating position in every situation. With a balanced and powerful appearance you know how to convince others, to get involved in your vision and the elaboration of the plans. You can provide sufficient counterbalance in the event of setbacks.
- You have an academic education with a specialization relevant to real estate (engineering, economics, real estate finance, finance & investments). You have a strong entrepreneurial spirit. You are fluent in the English and Dutch language.
- You have at least 10 years of experience in Real Estate including developments. You have relevant experience in the office sector. Experience in the retail and/or residential sector is preferred but not required.
CBRE Global Investors Netherlands
The Dutch organization of CBRE Global Investors is located at the WTC Schiphol airport. In the Netherlands, CBRE Global Investors manages approximately EUR 9.3 billion in offices, logistics, retail and residential for various Dutch and European unlisted investment funds as well as a number of separate account clients.