Senior-Level Commercial Real Estate Developer Resume Sample DARREL SCHULTZ ENTERTAINMENT & LEISURE DEVELOPMENT SPECIALIST COMMERCIAL ASSET MANAGER & DEVELOPER EXECUTIVE PROFILE Twenty+ years’ senior-level management and consulting experience with world-class, complex, large-scale, one-of-a-kind, mixed-use land and real estate development projects valued in the hundreds of millions of dollars. Notable Projects Include: • Town Centre at Aston, Aston, GA ($300 million) • WELCO Arena and BCB Center Renovations, Flanders, VA ($275 million) • The Bay View, Barstock, DE ($125 million proposed / $ 300 million planned) • National Science Hall (NSH), Llanview, SC ($200 million proposed) • The Gates Racecourse, Pacifica, WA ($150 million proposed) Areas of Expertise Include: Site Selection & Pre-Development Strategic Planning Marketing Methodology Budgeting & Monitoring Public & Private Partnerships Integrated Project Development Market Acquisition Strategies Concept Strategies Revitalization & Renovation Acquisition Due Diligence Public & Private Financing Real Estate Investment Economic Development Financial Performance Place-Making Lifestyle & Entertainment Centers Highest & Best Use Analysis Development Advisory Services Zoning & Entitlements Networking & Sourcing PERFORMANCE DRIVERS • Versatile Manager & Consultant Skilled in complex interactions and relations within multiple horizontal / vertical uses and mixed product types. Often retained to manage challenging projects. Guide projects from viability evaluation and concept development, through corporate / government approvals, entitlements, site plans, permits (from URPs to PUDs), public / private financing and partnerships, design, 1/7 Senior-Level Commercial Real Estate Developer Resume Sample construction, and lease-up. Keen focus on simultaneously balancing supply and demand of multiple project components. • Quality & Profit-Driven Steward Grounded in the principals of real estate with a thorough understanding of risk / reward ratios. Committed to delivering high-value, profitable projects that meet goals and contribute lasting quality-of-life and environmental impact, creating healthier markets, productive business conditions, and solid community relations. • Resourceful Solutions Provider Look for solutions opportunities in every challenge, and creative ideas from self, team members, and consultants. Adept at quantifying issues, scoping sources, and using extensive network to locate resources. Involved in cutting-edge projects that do not conform to norm and that require resourceful thinking and persistence. These range from unanchored specialty retail (Town Centre at Aston), to location-based entertainment (LBE) for a horse track’s surplus real estate (The Gates Racecourse), to an international science museum (National Science Hall). • Strategic Planner & Thinker Implement project strategies required to manage short-term issues while pursuing long-term objectives. Used these skills to achieve zoning approval for Town Centre at Aston, to achieve a museum site for the National Science Hall, and to gain governmental approvals after PILOTs for IHE were rejected. • Efficient Self-Starter Accomplished in activities and order of attack for complex projects, usually hitting achievable deadlines for even the most complicated projects. Require limited supervision, getting a job done quietly and efficiently. Currently running multi-faceted Inner Harbor East project with nominal client interface. Typically manage two-to-three efforts concurrently. While managing BCB Center renovations and WELCO Arena development, oversaw The Gates concept development and NSH pre-development. • Egoless Mentor & Team Builder Lead through example, for results, not glory. Articulate objectives and work tirelessly to achieve them. Motivate participants (especially young talent) through consistency, persistence, and constant communication, an important skill for Town Centre at Aston, with its multi-function inter-disciplinary team and a high-octane, performance-driven culture. 12345 Elm Street San Francisco, CA 94111• cell: 111.111.1111 • fax: 222.222.2222 [email protected] DARREL SCHULTZ / 2 SENIOR-LEVEL CONSULTING MANAGEMENT EXPERIENCE BUCHANAN, INCORPORATED : GREAT ROCK, VA; SILVER LAKE, GA; DEVILLE, MA 1990 to Present Consultant / Principal Development advisory / management firm specializing in high-density mixed-use commercial projects blending lifestyle, entertainment, retail, restaurants, and other uses. Clients include Struever Bros. Eccles & Rouse, Inc. (SBER); Simpson Sports & Entertainment Development; Benton Broadcasting System; National Science Hall; The Enterprise Development Corporation; Montgomery County, MD; The Gates Racecourse, and many others Major projects include: The Bay View, Barstock, DE ($125 million developed to date / $ 300 million planned) 6/02 to Present 2/7 Senior-Level Commercial Real Estate Developer Resume Sample Master developing three city blocks and providing development management services on 900,000 sf mixed-use building. Developing optimum program and managing design to achieve construction cost objectives, integrating cost-saving opportunities, pre-leasing office / retail, pre-selling hotel, obtaining public financing incentives and public approvals ranging from site plans to urban renewal plans to planned unit developments. • Attained TIF and PILOT approvals by Barstock Development Corporation only five weeks after rejection. Total tax incentives equaled $57 million in potential tax savings—$22 million from PILOT and $35 million from TIF. • Achieved site plan, URP, and PUD approvals. Increased building heights (180 feet to 300 feet) and densities (18%), allowing project to begin construction based on current design. • Developed project schedule to meet accelerated construction start and tenant requirements. Drove design from constructability perspective allowing for accelerated construction schedule. National Science Hall (NSH), Llanview, SC ($200 million proposed) 10/99 to 4/02 Acted as National Science Hall Real Estate Planning and Development director developing NSH, a museum-sponsored proposed state-of-the art international science and technology center originally programmed for 365,000 sf / $200 million. Through negotiations and interaction with public, program was phased, with first phase at 250,000 sf / $150 million. • Facilitated positioning of Museum to have capacity for project, elevating NSH to become one of top-five goals for Greater Chamber of Commerce, key to building public sector momentum. • Planned, advised on restructuring and repositioning museum operations for political constituencies (to meet expansion from 53,000 sf to 250,000 sf), coordinated with Llanview Art Museum to develop / share “museum park” site and with city / county officials to obtain public funding, and facilitated private fundraising campaigns and marketing to international community. The Gates Racecourse, Pacifica, WA ($150 million) 3/99 to 2/00 Reported to Chief Executive Officer of The Gates. Provided development advisory services to owners who had ceased racing because of declining gaming revenues. Project was used as stalking horse to change Illinois gaming laws in early 1999. Once laws changed, motivation for project shifted and operation was sold. • Assembled team, produced pro forma demonstrating financial viability and delivered plan to carve 100 acres from 340-acre horse track for LBE ($150 million value entertainment / retail center) to co-exist with horse operations. • Orchestrated design charrette to accelerate planning process, identified and engaged horse track operations designers to coordinate retail / racing interface, and identified, interviewed, and evaluated various LBE providers for site compatibility. WELCO Arena / BCB Center Renovations, Flanders, VA ($275 million) 5/96 to 03/00 • Vice President of Development, Simpson Sports & Entertainment Development Corporation 1/98 to 03/00 • Consultant (through TRG) 5/96 to 1/98 Reported to President, Simpson Sports & Entertainment Development (a Benton Broadcasting System, Inc. subsidiary). Provided development management services for WELCO Arena, a $250 million / 20,000 seat multi-purpose sports / entertainment project. Initially managed site selection, identifying / evaluating five sites and negotiating with formidable and resistant owners including Flanders Journal Constitution, State Bar of Virginia, Federal Reserve Bank of Virginia, and Norfolk Southern Railroad. In 1998, retained as 75% part-time VP reporting to SSED President. Concurrently oversaw $25 million retail renovation of BCB Center and Omni hotel, to mesh visually and operationally with 3/7 Senior-Level Commercial Real Estate Developer Resume Sample arena. Components included obtaining all approvals, and managing design, internal / external improvements, remerchandising retail (ultimately doubling rents), upgrading BCB Studio Tour, redesigning / tripling size of Simpson Store, and initiating concept development for new destination attraction (to be constructed) for BCB to complement other daytime uses. Completed without disruption to 24/7 broadcasting. 12345 Elm Street San Francisco, CA 94111• cell: 111.111.1111 • fax: 222.222.2222 [email protected] DARREL SCHULTZ / 3 CONSULTING EXPERIENCE, BUCHANAN INCORPORATED / WELCO ARENA & BCB, CONTINUED • Achieved senior-management project approval, an important step as renovations increased BCB’s visibility, improved public’s perception, and doubled retail rents by moving retail environment from business to tourist. Completed on time / on budget. • Oversaw arena’s food service set-up ($15+ million revenues). Orchestrated food concessionaire selection process for premium and general concessions vendors. This was one of the first times general concessions operations functioned as a food court during non-event times. Creative food service enabled arena to achieve among the highest per-unit-suite sales in the country. • Focused on branding opportunities and capitalized on media impressions of showcasing BCB / WBS brands. Managed all retail / entertainment including BCB Studio Tour renovation, Simpson Store expansion, and initial concept of Benton Experience, a second studio tour. Directed creation of arena’s “Team Store” and Cartoon Network co-branded team store. • Orchestrated / negotiated “high impact” site selection, strategically accepting early losses to garner long-term gains. Facilitated public / private partnership, culminating in $65 million in public bonds sold prior to potential change in public financing laws and $130 million in private bonds backed by City of Flanders credit. Met extensive MBE / WBE goals (30% / 6%). • Co-managed team-building that successfully executed WELCO Arena from third party perspective. Set up organization to manage BCB renovations. Oasis Mall, Livingston County, DE ($600 million proposed) 10/96 to 4/97 Partnered with MRA International to provide market verification study of a proposed 2.0 million sf, $600 million mixed-use project in Duchess, DE (called the Oasis Mall), envisioned as a version of Mall of the Americas. • Evaluated potential and managed market verification study, developed essential conditions for success, and positioned County to pursue $150 million in public subsidies for project. Project ultimately died for lack of private financing. SENIOR MANAGEMENT EXPERINCE LBK PARTNERS, CLAYTON, FL 1999 to 2000 • Principal and Managing Partner LBK Partners invested in small-scale land development opportunities and provided development advisory services to major landowners and institutional investors for large mixed-use projects / developments and for acquisition portfolio due diligence analyses. In first year, generated annual fees up to $500,000 and serviced over $50 million in real estate property. Oversaw Clayton Office and development director. Obtained entitlements, managed consulting teams and master planning, prepared pro formas, identified / pursued public financing 4/7 Senior-Level Commercial Real Estate Developer Resume Sample opportunities, prepared private placement memorandum to raise project equity, marketed sites, and pursued new business opportunities / sourcing. • Built office to $500,000 year-one fees from $0 by astute management of business procurement and client relationships. • Provided master planning / development advisory services for 3 million sf mixed-use Clayton project and 280,000 sf Clayton telecommunications renovation. Successfully managed troubled 1,000 acre PUD's master planning / entitlement process. Supported Hartsburgh home office in master planning / entitlements of additional sites. BRISTOL PROPERTIES, INC., A SUBSIDIARY TO BRISTOL, PLC, BALTIMORE, MD 1992 to 1994 • President Bristol Properties, Inc. was a start-up subsidiary to Bristol, PLC, (at the time) the world’s number-two construction materials firm. It has since been swallowed by hostile takeover. Recruited to develop start-up business plan and manage North American entitlement, development, and disposition activities across 3,000 US and Canadian acres, with one asset in mix with a $5 billion value potential. Evaluated sales opportunities, site delivery costs, buyer pursuit / identification, and real estate opportunities as part of hostile takeover of another company. Participated in core business management activities. Reported to President of Bristol Properties, UK. • Developed firm’s start-up business plan. Assessed site marketability and entitlement / capital development needs. Created implementation business plan—a roadmap for placing real estate in play as market recovered. • Provided reality check by auditing real estate holdings. When recruited, was told that company’s real estate portfolio was valued at $200 million and was readily marketable with no required improvements. Put audit in play that indicated $60 million actual value, requiring annual $3 million to $4 million, five-year effort to create a solid revenue stream. • Delivered risk / reward assessment of a limestone quarry to landfill conversion, an important factor in valuing Steetley’s hostile take-over attempt. 12345 Elm Street San Francisco, CA 94111• cell: 111.111.1111 • fax: 222.222.2222 [email protected] DARREL SCHULTZ / 4 SENIOR MANAGEMENT EXPERIENCE, CONTINUED LATHAM / CLARKE FRANCES, ASTON, GA 1985 to 1989 • Senior Development Director, TOWN CENTRE AT ASTON Firm developed Town Centre at Aston, one of the nation’s premier suburban mixed-use, unanchored specialty centers. Co-managed daily project activities to design, construct, and lease $1.2 million sf mixed-use project—514 key Hyatt Regency Hotel—550,000 sf / office and 240,000 sf / retail ($300 million total project cost). Managed (as number-two project lead) day-to-day development team and activities including building and managing all development, consulting, and office leasing teams, and directing all marketing / PR / event management planning / execution. Concurrent with project, periodically evaluated acquisition of alternative development properties in other parts of East Coast. • Created Town Centre at Aston, an industry-leader in entertainment-enhanced, mixed-use development. Participated in team’s assemblage and managed follow-through / implementation details. Outstanding long-term results included new demand, new community lifestyle, office rents (at stabilization) of $4 /sf above market, and a market-leading hotel. 5/7 Senior-Level Commercial Real Estate Developer Resume Sample • Directed all marketing / PR (print and media) and event planning—for multi-event, three-month grand opening to put project on map. Crafted destination appeal and seasonal events, creating traffic and building property’s perception as an “event” location. Repeat traffic translated into retail sales and events gave aura of Town Centre as the “place to be.” • Created foundation for new uses. Conceived idea of ice rink for events (with portability to test market demand). Rink was so successful that it was converted to a permanent rink and entertainment pavilion. ASTON LAND CORPORATION (HANNIFORD LAND DEVELOPMENT CORP. SUBSIDIARY), ASTON, GA 1984 to 1989 • Vice President Commercial Marketing and Development Firm managed disposition, marketing, and promotion of all real estate in Aston (including Aston Town Centre). Directed sales strategies, purchaser identification, pursuit, and land sale negotiation. Managed master planning for Aston Town Centre. Oversaw development and master planning of six-building, 360,000 sf Cameron Pond Office Park. • Constructed RTC Phase I business deal, attracting and attaining corporate approval for joint venture between Hanniford (their first 50-50 real estate JV and three years in the making) and Latham / Clarke Frances. Venture put wheels in motion for Aston Town Centre development while allowing significant owner control. • Master planned Aston Town Centre, assembled / managed planning team and internal master planning “task force.” Created flexible, evolving, market-driven, economically feasible project plan still being implemented today. • Entitled last significant track of land in Aston—RTC 500 acre study area for 8.5 million sf development. Crafted and negotiated flexible entitlements (in tough political environment), and managed community participation process. • Sold $80+ million in commercial land in ‘80s. Negotiated / closed many land sales with developers and corporations. Oversaw increase in values ($1.50 to $2.00 / sf to final sale at $20 / sf), providing core development / sale income to owner. • Managed significant commercial marketing of Aston including Aston Expressway campaign that enabled hitting 150% of projections in six months and driving awareness of Aston’s accessibility and heightening interest in land holdings. EDUCATION & PROFESSIONAL DEVELOPMENT Georgia School of Technology & State University, Dawson, GA • MBA–concentration in Finance, 1974 • BS–Business Administration, Public Administration, 1971 Memberships: Urban Land Institute, International Council of Shopping Centers, National Association of Office & Industrial Parks. Professional Activities: Founding member of ULI’s Entertainment Development Council, serving since 1995 formation and currently functioning as Vice Chair at Large. Served on ULI’s Small Scale Development Council. Charter member, Northern Virginia NAIOP Chapter. Attendee and speaker / panelist at conferences: Annual / semi-annual Urban Land Institute (ULI) and International Council of Shopping Centers conferences / conventions (since 1983). Periodic special purpose conferences on Developing Entertainment Destinations and other topics. ULI Entertainment Development Conference (eight since 1995). ICSC Annual Convention (since 1998). Awards: Aston Town Centre received Northern Georgia NAIOP award for "Best Large-Scale 6/7 Senior-Level Commercial Real Estate Developer Resume Sample Mixed-Use Project" in 1992 and was selected as a Finalist for 1995 ULI Awards for Excellence. 12345 Elm Street San Francisco, CA 94111• cell: 111.111.1111 • fax: 222.222.2222 [email protected] 7/7