A private, top real estate investment firm had been on an acquiring spree of hospitality properties nationwide, investing some $1.8 billion over the course of five years. While several facets of their business were going well, their construction and development department suffered low morale, missed deadlines, and a “reactive” approach to executing construction projects, particularly PIPs on within their portfolio.
After a lengthy interview process, Jackson was selected out of seven firms to conduct a national search for a proven development and construction leader. The candidate would need to create an entire development and construction process that could be replicated through the various branch offices. In addition to solid technical knowledge, the candidate had to possess a track record of communication with stakeholders and be comfortable routinely communicating with investment partners creating a cohesive “one voice” approach.
Jackson presented a short list of three candidates for the position after an extensive national search.
After an extensive national search, Jackson presented a short list of four (4) qualified candidates on the 51st day of the search. Our client interviewed all four and eventually set their set on one candidate. This President of another real estate investment firm was currently running development and construction for a $14 billion portfolio. Though he had created a finely ran organization, he was at the point of his career where he wanted to take on one more challenge.
He ultimately accepted the job and has been instrumental in a complete reorganization of the construction and development operation. As a result, efficiencies have skyrocketed, and the managing partners are able to focus on what they do best. Gone are the days of missed deadlines and poor construction quality.