Consultant: Nick Hammond, Head of Build to Rent
Role: Maximus Real Estate Partners, Asset Director
Location: San Francisco, California
What was the situation?
Maximus Real Estate Partners were looking to appoint an Asset Director, to oversee the strategic leadership and performance of Park Merced, the second-largest single-owner neighborhood of rental apartment blocks west of the Mississippi River after Park La Brea in Los Angeles. In 2015, Maximus embarked on this ambitious multifamily development project in North America: to transform Parkmerced into a carbon neutral, pedestrian-friendly community with approximately 10,000 apartments, a retail corridor, spacious parks, and more.
Were there any challenges?
Maximus Real Estate Partner’s were looking for a specific skill set, and actively wanted to appointed candidate who had experience working for a Multifamily REIT. In addition, it was required the appointment had extensive experience in San Francisco, due to the need for an understanding of local market knowledge and regulations. Due to these specific requirements, this meant the talent pool available was incredibly shallow.
In addition, employers working for REITs tended to earn very competitive remuneration packages (including equity, LTIPS and high pension contributions) which meant the ability to attract someone away was a difficult.
What was the methodology?
Nick Hammond advised Maximus to undergo a prolonged pre-screened approach, by identifying every suitable candidate in the San Francisco market. In addition, deverellsmith provided a comprehensive candidate pack which focused on Maximus’s employee value proposition in order to attract candidates.
What were the results?
deverellsmith’s data & research team collated a list of 55 target candidates, who were all contacted. Nick met 15 candidates and conducted a comprehensive interview testing each against the key competencies of the role.
6 candidates were shortlisted, whom two were both capable of offering. Maximus appointed their preferred candidate who is starting in agreed time scales.