Glencrest is a multifamily investment company founded in 2019 whose mission is to improve the lives of our residents, investors, team and society. We create communities that our residents are proud to call home and currently own fourteen of them across four states.

Glencrest was formed by apartment industry veteran John Adair (former head of capital transactions at Prime Residential, one of the largest apartment investors in the Western US) and serial tech entrepreneur Mike Bergelson.

Starting in 2024, we expect to roll out a number of new initiatives that push the boundaries in our industry to drive efficiency and performance across our apartment businesses. We are looking to add a team member to lead these new capabilities.

Role summary

The Head of Strategic Initiatives will be responsible for the design, implementation and management of major new initiatives for Glencrest’s apartment community portfolio and corporate operations.

This role will gain exposure to all aspects of the multifamily investment business, from the top of the acquisitions funnel to detailed engagement in business operations, resident experience and management of the physical infrastructure of our growing portfolio of apartment communities.

Commuting proximity to our downtown San Francisco office (ideally spending 3 - 4 days a week in the office when not traveling) is a requirement. Frequent (two to three times a quarter) travel to Glencrest properties in the Pacific Northwest will be required.

Detailed description of responsibilities

The Head of Strategic Initiatives will be the go-to resource at Glencrest for driving innovation to improve corporate processes and site team operational performance. This person will partner closely with Mike Bergelson (Managing Partner responsible for asset management and corporate administration) to:

● Prioritize initiatives each quarter

● Define context and desired outcomes of each project

● Determine appropriate vehicle for capability development, e.g., internal Glencrest process, new business captive to the Glencrest portfolio or new business to serve Glencrest and other players in the multifamily industry

● Create a business plan leaning heavily on modern startup innovation methodologies

● Define resource requirements for initiative launch and Day 2 operations

● Recruit team members, contractors and partners, as needed

● Select and lead implementation of appropriate technologies

● Build, document and refine processes

● Instrument, track and optimize ongoing performance

● Hand off leadership, over time, to permanent leader (e.g., CEO of new companies or functional leader of new internal capabilities)

This role is focused on research, strategy, planning, recruiting, early execution, team leadership, performance measurement and iteration. In most cases, we expect that projects will require support from various members of the Glencrest team, our site teams or new resources such as contractors or full-time hires.

Each initiative is, in a sense, a micro-startup with the Head of Strategic Initiatives its founder. Like all good founders (that we know), there will be a significant learning curve around many aspects of the endeavor, creating an opportunity (read: real need) for self-awareness and a willingness to find learning resources and people to help fill knowledge and experience gaps.

Sample projects include:

● Site digital marketing - improve the effectiveness of ongoing marketing spend to drive qualified leads for new residents.

       ○ Challenge - the agencies in the multifamily industry provide mediocre, watered-down solutions that are not well targeted or optimized.

       ○ Solution - analyze effectiveness of current marketing channels, hire experts to help optimize paid search, SEO, etc. and build a sustainable team / process to carry forward our new marketing capabilities. Potentially recruit other ownership groups to use the same capabilities to grow scale of operation.

● Electrification – understand the litany of programs available for improving the energy efficiency of our buildings, including utility, state and federal (e.g., the IRA) level incentives.

       ○ Challenge - many of our buildings operate at suboptimal energy efficiency. Recent legislation creates a number of interesting incentives to help defray the costs of improvements that can reduce energy consumption, save us and our residents money and improve resident experience.

       ○ Solution - research federal, state and local incentives, create a form of matrix to prioritize improvements across our sites, gain buy-in from Glencrest leadership on business case and relative priority of projects, create and implement a plan for installation / upgrade (potentially including recruiting a captive installation team).

● Renovation company - launch regional construction companies to complete renovation and energy efficiency improvements.

       ○ Challenge - we routinely hire contractors to complete predictable repairs across all of our properties, creating an opportunity to maintain or improve project quality at significantly lower cost.

       ○ Solution - plan, recruit for and launch a construction team in each region where we have sufficient property density to support a standalone team. Select and implement key technologies and partners (e.g., insurance, PEO, collaboration) and create processes for scheduling, quality control, etc. Consider recruiting a small number of other multifamily owners to fill slack capacity.

● Associate program – create a training program for recently graduated team members.

       ○ Challenge - we have very little formal training and no notion of a structured rotational program to provide consistently good learning and development opportunities for team members, especially those earlier in their careers.

       ○ Solution - create a formal learning and development program (leaning heavily on conversations with progressive companies outside of the real estate industry) and possibly a rotational experience similar to the Google APM program.

Key attributes

● Proven leadership skills with experience building and nurturing teams

● Generally optimistic and persistent; not easily discouraged

● Possesses unquestionable integrity

● Passionate about building a long-term career in the multifamily industry

● Interpersonally savvy; easily passes the “airport test”

● Action oriented and averse to making excuses

● Able to prioritize, stay organized and meet critical deadlines

● Hard working; can be counted on to exceed goals successfully

● Extremely responsive except when they’re off the grid

● Cool under pressure and channels frustrations productively (and / or humorously)

● Able to think critically and solve problems logically

● Willing to do the job no one else wants to

● Able to balance the demands of a fast-paced career with those of life beyond work

● Deeply empathic and respectful of those we interact with on a daily basis

● Handles direct feedback well and uses it to learn and evolve

● Self-aware, humble and genuinely excited to build expertise and new skills

Job experience and education requirements

● 3 - 5 years of work experience in a fast-paced, unstructured environment

● Direct P&L management experience is preferred but not required

● Entrepreneurial / startup experience is preferred but not required

● Bachelor’s or advanced degree in business, real estate, finance, or a related field, with additional certifications or qualifications in project management, real estate investment, or leadership is a plus.

● Excellent written and verbal communication skills

● Real estate experience is preferred but not required

Compensation

Base and bonus are competitive with the management consulting, private equity and real estate industries. We also offer all full time team members a comprehensive benefits package including:

● Medical, dental and vision insurance

● 401(k) with company match

● Pre-tax healthcare and dependent care flexible spending accounts

● Commuter benefits

● Vacation and sick leave

● Work-from-home infrastructure stipend

● Training and career development opportunities (as mentioned, this is still a work in progress)

Our commitment to opportunity and diversity

We don’t just accept difference — we cultivate it for the benefit of our team, residents and neighbors. Glencrest is proud to be an equal opportunity workplace and does not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status or disability status.