Real Estate Development Manager
J&P DEVELOPMENT, member of the J&P OVERSEAS Group
Total years of experience :23 years, 10 Months
• Cooperation with a major US capital partner fund (BAUPOST) for the identification, acquisition, valuation and appraisal of real estate opportunities in Greece (commercial and tourism asset classes), including:
-Astir Hotel Privatization (ultimately won by competing JV of Kuwait and Abu Dhabi Investment Funds: 600 mil €)
-Government Buildings Sale & Leaseback portfolio (ultimately won by two local REITs : 250 mil €)
-Distressed shopping malls & cinema complexes (Bank finally extended maturity of the debt: 30 mil €)
Role and Responsibilities:
Market, Risk, Complexity and Legal Due Diligence
Establish special consultant teams on the ground, approve appointments and budget controls
Intra-EU jurisdiction Vehicles and Entities for optimum structuring
Senior Debt Binding Offers
• Restructuring and Disposal of Group’s Assets \[M&A\]:
-Romania Bucharest holding: Splitting of two R.E. companies and SPA for one company (5 mil €)
-Intercontinental Hotel Athens: Mezzanine / Senior Debt fund raising backed by the Athens 5* hotel for the development of the island resort and convention hotel (20 mil €)
-Group’s Boutique Hotels Line: clustering, financial analysis and Investment Memorandum (10 mil €)
-Existing Secured and unsecured Company Debt restructuring and refinance (>20 mm €)
Role and Responsibilities:
Transaction Management, Vendor Due Diligence, Rebuttal of Buyers findings, Tax Structuring,
Pooling of Various assets, internal audit and sanity check of existing assets and performance
Debt Extension fitting the profiles of projects underway
• Development Management for a large scale commercial (office) project in Athens 60.000 sq.m. GLA
Setting up, leading a diverse team of designers, lawyers, consultants;
Managing the relationship with all the above key participants, approval of deliverables and payments
Sourcing of tenants and interested organizations
Active participation in Environmental Approvals, negotiations with Authorities, Permitting issues
Reviewing of budget in close cooperation with construction team; value engineering in design stage
Negotiations and arrangements for project financing with Banks
• Investment Management of company portfolio of assets and branch in Romania and Poland (>20 mil €)
Managing international acquisitions/structuring of ventures: shareholders' agreements, SPA, due diligence, holding companies, subsidiaries financing, Asset acquisitions, Real Estate companies acquisitions
Quarterly Updates of financial plans and feasibility studies for real estate investments in these countries
Design Overview, Appraisals, Permitting Decisions in cooperation with local design team
Group and subsidiaries Financing optimization and structuring
• Composing and quarterly updating Company Strategic 5-yr financial plan Cash Flows and pro forma P&L
• Introduced and Implemented the transition to Fair Market Value Accounting (IAS 40) for investment properties
Assistant Property Developer - Financial Analyst (01/2002 - 12/2005)
• Performed feasibility Studies for investment proposals in real estate development projects
• Prepared analytical Cash flows, P&L Statements, Budgets, Investment Presentations / Memorandums;
• Research for new emerging markets and opportunities (statistics, economic analysis, market trends);
• Aspects of regulatory compliance (urban laws and regulations, tax implications)
Obligatory Military Service
Recipient of full tuition scholarship Beta Gamma Sigma Honor (top 20% student of Graduate School Year)
