Kris Young

Company Overview:

Greystar is a global fully integrated real estate company offering expertise in investment management, development and management of rental housing properties. Greystar established in Australia in 2019 and have a pipeline of 2,300 units in their portfolio

Key Responsibilities.

• Leading and managing the development of 1,000+ BtR units across 3no individual projects with a combined value of over $1b
• Sourcing opportunities across VIC, NSW and QLD by preparing feasibility studies, determining highest and best use and negotiating deals with vendors, investors and developers.
• Managing all financial aspects of projects including budgeting, forecasting and invoice management to maintain fiscal responsibility throughout the project
• Presenting and reporting to internal and external stakeholders

Achievements.

• Increased Greystar's BtR portfolio by 87% positioning them to be the largest BtR developer/operator in Australia
• Executed a $360m Fund-Through-Agreement (FTA) and identified $30m of savings in construction cost through a more efficient design
• Brought the submission of a planning application forward by 1 month to mitigate planning risk and secured a permit with a 10% higher yield increasing overall returns.
• Implemented changes that ensured clear expectations were set for all team members ensuring accountability was maintained.
• Streamlined internal processes to facilitate the payment process and project forecasting
• Simplified lines of communication and created a collaborative team environment to facilitate open communication

Key Responsibilities.

• Provide development and project management advice for private and institutional clients across a range of projects.
• Development of comprehensive project plans, identifying risks and mitigation strategies.
• Presentation of status reports to clients , providing insights into progress made toward achieving key milestones.
• Mentor junior project managers and team members to enhance their skills and career growth.

Achievements.

• Successfully re-tendered and completed a distressed commercial office project after the developer and builder went into administration.
• Out-performed target savings and reduced the cost-to-complete by approx 10%.
• Maintained all warranties for works completed by retaining >95% of the subcontractors and consultants.
• Re-leased 80% of the office space after the anchor tenant triggered the sunset clause in the AFL.
• Negotiated a Development Agreement for a 12-stage 5Ha site in Queenstown securing the target yield whilst maintaining flexibility on the overall masterplan
• Successfully delivered a luxury apartment building within cost and budget despite cost pressures and challenges with the builder

Key Responsibilities.

• Lead and manage the development of 250+ apartments across 2no. individual projects in Doncaster and Richmond
• Sourcing and acquisition of new sites across QLD and VIC
• Balancing competing priorities and resource constraints to deliver optimal results within the context of project timelines and budgetary restrictions.

Achievements.

• Successfully tendered and negotiated the Doncaster apartment project within the project budget
• Identified and secured 5% construction cost savings pre-tender through rationalising the design
• Identified a $20m cost risk relating to inground soil contamination when undertaking due diligence for a site
• Improved overall project efficiency by setting clear goals, milestones, and expectations for the development team.
• Implemented robust documentation practices that facilitated knowledge sharing within the development team and improved overall productivity.
• Championed the re-structuring of the organisation and governance structures to facilitate decision making and reporting

Achievements.

• Executed an AFL with ANZ bank to lease c.24,000sqm of Grade-A commercial office space on a 12-year lease at market rents and favourable yearly fixed rent increases.
• Executed a HoA with a co-working company for the balance of the building on favourable commercial terms.
• Secured a $435m sale price by securing 2no major investors, outperforming project return hurdles.
• Secured a Development Agreement with Cross Yarra Partnership (CYP) for a 20,000sqm NLA commercial office building above the new Town Hall Melbourne metro station.
• Spearheaded the request to commit capital to start early works on Melbourne Quarter Tower a 60,000sqm NLA commercial office tower in Melbourne. This mitigated any possibility of project delays due to road infrastructure works in the area.

Achievements

• As Head Contractor, successfully delivered major projects including the new Royal Children Hospital, Monash Green Chemical Futures, EXO Apartments and RMIT Bundoora campus
• Procured and delivered the first IMRIS (inter-operable MRI System) at the Royal Children's Hospital in Victoria
• Accelerated the delivery of a 4,000sqm facility for RMIT's structural engineering department in 6 months (2 months ahead of program) by re-designing components of the facility into pre-fabricated elements.
• Delivered exceptional customer satisfaction by proactively addressing client concerns and meeting or exceeding expectations throughout the engagement process.