EXECUTIVE VICE PRESIDENT DEVELOPMENT

Reporting to Pete Marin, CEO, and working in close collaboration with the Executive Leadership Team (ELT), the EVP Development (EVPD) will play a pivotal role in shaping T5 Data Center’s investment and sustainable development return strategies for existing assets and the new Scaled Campus platform.

The EVPD will be involved from start to finish on all development projects and is responsible for providing support to T5, QuadReal, and other invested parties to ensure quality and timely execution on all projects. The EVPD will build a team to identify new site locations, negotiate land purchases, leverage incentives, clear permitting, and secure power agreements at significant (1GW+) scale. In close cooperation with the CFO, he / she will develop the capital plans required to underwrite these initiatives for the Investment Committee and work with the construction, operations, legal, and commercial teams through the lease up of the assets.

Responsibilities:

– Develop and implement investment strategies and development techniques to maximize returns, minimize risks, and achieve the Scaled Campus strategy’s return objectives
– Lead negotiations and structuring of development transactions, collaborating with external capital partners, internal stakeholders, and legal advisors to ensure favorable terms.
– Manage a project delivery team responsible for power, site selection, leasing and design.
– Assess investment viability from the standpoint of availability and timing for power, fiber, and all other necessary infrastructure for new sites.
– Secure all approvals and entitlements necessary for successful development including authorizations, agreements, permits, licenses, bonding, etc required by local power/utilities
– Review existing entitlements and identify required approvals including process and timing for entitlements to include, local zoning, environmental, and infrastructure improvements.
– Coordinate with Construction and Operations ELT in the creation of market supportable underwriting and revenue models and assumptions.
– Lead investment committee meetings on deals proposed, addressing salient deal points in conjunction with ELT.
– Monitor and manage development strategies, tracking performance, analyzing results, and making strategic adjustments as needed to optimize returns and mitigate risks.
– Provide underwriting assumptions for financial modeling, investment committee approval, and investor modeling activities.
– Negotiate with utilities contracts for power and infrastructure needed to serve the site and obtain approvals where required.
– Work with Project Teams on providing updated budgets or updated cash flow forecasts on an as needed basis.
– Conduct thorough market research and analysis to identify emerging trends, investment opportunities, and potential risks leveraging data-driven insights
– Evaluate and assess potential investment opportunities, including acquisitions, development projects, and strategic partnerships, through rigorous financial modeling, due diligence, and risk assessment.
– Prepare and present regular reports on development and investment performance
– Ensure compliance with all relevant laws, regulations, zoning, entitlements and internal policies.

 

KNOWLEDGE & EXPERIENCE REQUIREMENTS

Development – Demonstrated success authoring and executing real estate development investment and return programs that achieve interim and strategic long term goals
– Broad geographic and diverse markets with differing business demographics
– Success forecasting development progress and cadence associated with long sales cycles
– Diverse real estate development market knowledge and resources to leverage in order to fast track project communication and achieve results faster than normal.
– Evident rolodex reflecting extent of existing high level, influential industry relationships

Executive Leadership – Achieve near and long-term data center development, revenue and profit goals via a holistic approach inclusive of people, planning, process, and resource utilization
– Strategic Alignment – Makes evident and aligns people to a common path and outcome
– Multi-Disciplined – Empathy for diverse functional perspectives and emphasizes the value of bridging gaps and bringing people and entities together
– Team Builder – Has built development organizations and resources that outperform targets

Strategic Business Acumen – Ties business planning and decision making to purposeful outcome of increasing corporate / shareholder value
– The singular focus is a team collaboration resulting from astute understanding of broad data center market trends and resulting direction
– Astute development considerations of opportunities in the broader data center market to include strategic partners, investment sources, and M&A
– Authorship and successful execution of a business plan with demonstrated cognizance on healthy, profitable, and sustainable data center customer partnerships

Cultural Leader – Demonstrated collaborator and motivator of diverse functions and resources
– Earn and maintain respect of the Board, customers, prospects, and colleagues by virtue of the purposeful nature of his / her professional actions and directives
– Prior experience managing and building through a transformational growth environment
– Reflects the cultural substrate of existing executive team and board to include tenacity, integrity, hard work, honesty, and intelligence

 

KEY QUALIFYING CRITERIA

Development – Proven track record of senior leadership managing programmatic real estate development strategies with a focus on strategic capital planning and demonstrated returns.

Industry – While not required, familiarity with the data center real estate, including knowledge of trends, technological advancements, and regulatory issues is advantageous.

Scope – Assessment of the breadth of data center real estate developed, reflecting number of geographic locations, size (sq ft / MW), designs, and customer diversity.

Invested Environment – History in a privately sponsored decision-making environment with board level accountability for planning, presentation of performance relative to plan.

Capital Planning – Leadership of data center real estate location due diligence, risk, value, IRR, and ROI determination relative to the intent and interest of the investment thesis.

Growth – Demonstrated history of involvement of leadership and entrepreneurial ambition through a significant organizational growth chapter.

Personnel – Successful growth and oversight of internal and outsourced teams across geographically dispersed assets and contracted management environments.

Delivery – Demonstrated mastery of budget and schedule creation and presentation of performance relative to plans reflecting successful delivery of complex data center projects.

Leadership – Demonstrated ability to drive results, manage change, and navigate complex investment challenges with creativity and resilience that drive corporate valuations

 

WHY CONSIDER THIS OPPORTUNITY WITH T5?

Ambition – T5 has embarked on a precedent setting data center development growth platform which meets next generation capacity demand requirements for hyperscale, cloud, and other large scale technology hosting and processing capacity (AI/ML).

Differentiation – T5’s holistic value proposition to the market and their customers is a long history of deep expertise, relationship value, and intellectual resources to create and deliver innovative solutions resulting in outsized value creation initiatives.

Leadership – T5 is comprised of a uniquely and exceptionally qualified team of investment, development, and commercial professionals who keenly enjoys solving challenges and exceeding growth and performance return expectations.

Track Record – T5’s precedent and enduring success speaks for itself. What is less known is their track record of development, delivering projects on time and budget, and subsequently operating environments for the world most recognized and progressive organizations.

Secret Sauce – T5 creates and maintains relationships and projects with a deft, nimble, and exacting level of execution while displaying an integrity and resourcefulness across the organization that is second to none.

Financial Strength – T5’s $8B capital raise in partnership with QuadReal reflects a financial position to fund unrelenting growth. They are enthusiastic and committed to a shared vision of creating the 5+ GW Scaled Campus platform.

Impact – From day one, the EVPD will be relied upon to make decisions that meaningfully impact how T5’s platform is manifest, their profitability, their performance and growth relative to plan, and the resulting portfolio valuation.

 

COMPENSATION

The compensation package for the EVP Development will be determined on a case-by-case basis, relative to the finalist candidate requirements. It will include a competitive base salary, annual performance bonus, comprehensive health package, and long-term incentive compensation in the form of equity based on project performance milestones and fund objectives.

 

SEARCH PROCESS

Following the receipt of a resume and mutually addressing Key Qualifying Criteria, culture fit, and professional motivation, we’ll make an introduction to Pete Marin, CEO, Tom Mertz, COO, Peter Almond, CFO, and Karen Stein, GC. Finalists will subsequently meet with additional members of T5’s ELT. The selected finalist will be presented with a compelling and competitive offer contingent on background check and thorough references.