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Real estate development officer

Location:
Houston, TX
Posted:
October 19, 2019

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Resume:

EDWIN H. MURPHY, MBA, CPA

Home: **** ******** ******, ********, ***** 77401

Phone: 281-***-**** E: adamlz@r.postjobfree.com

My professional goal is to join an executive management team in a well-capitalized real estate investment development firm, REIT, major corporation, foundation, institution or high net-worth private investment office.

Experience: Development officer and executive with direct responsibility for strategic planning, business development and opportunity assessment; leadership in deal proposals, joint ventures and partnerships; and execution of the “development process” in major capital investment projects.

Results: 6MM square feet in Class-A commercial properties valued in excess of $2 Bn; no over-run budgets or project schedules; and no financial defaults or foreclosure.

Project achievements: 64-story Williams Tower and Hines Park ($600MM), Hilton Post Oak Hotel ($100MM), St. Luke’s O’Quinn Medical Tower ($250MM), Reliant Energy Plaza ($435MM), Hewlett-Packard Campus ($200MM), and portions of theGalleria in both Houston and Dallas I have provided advisory to Texas Medical Center, OliverMcMillan, Disney Development, domestic institutions, foreign sovereigns, and universities. Most recently, I contributed to successful development of major projects in Austin and Atlanta.

Education:

The University of Texas at Austin – MBA Accounting and Finance

The University of Houston – BBA Economics and Finance

Licensed CPA (No. 24832) in the State of Texas, TSBPA

Licensed Real Estate Salesman (No. 650775) Texas Real Estate Commission

Professional expertise:

Urban land acquisition and strategic review of U.S. markets

High-rise residential, office, hotel, mixed-use retail and major medical development

Capital financing: private equity, institutional debt and foreign sovereign investments

Due diligence, contracts, and complex legal counsel coordination

Marketing, direct leasing and national brokerage relations

Project execution: business plan, capital budget and schedule control

Owner’s representation with investors, lenders, public authorities and foreign sovereigns

Professional employment:

Grayco Partners LLC 2016-2018: Senior Vice President

Trustee of private real estate investors 2012-2016: Advisor and trustee

The Finger Companies 2005 - 2011: Executive Vice President

Century Development 1997 - 2005: Senior Vice President

Edwin H. Murphy Interests 1994 - 1996: Managing principal

Hines (Gerald D. Hines Interests) 1979 - 1993: Senior Project Manager

Arthur Andersen & Company 1977-1979: Senior Consultant

Underwood Neuhaus & Company 1976: Registered Representative, NYSE (7, 63, 66)

EDWIN H. MURPHY, MBA, CPA

Home: 4517 Oleander Street, Bellaire, Texas 77401

Phone: 281-***-**** E: adamlz@r.postjobfree.com

Page 2 – Professional Employment and Experience

2016-present Grayco Partners LLC

Senior Vice President and Development Officer

National developer of luxury multi-family residential projects

Houston, Austin and Atlanta

Development and asset management

2012-2015 Self-employment

Real estate consultant and trustee to landowners and investors

Confidential advisory in opportunity assessment, off-market acquisitions (TX and CO), including land use strategy, building redevelopment, lease terminations, brokerage management, contract negotiation, capital budgeting and cost control. Income-producing properties, urban land, ranch land, resort property and public conservation easements.

2005-2011The Finger Companies, Houston

National investment developer and operator of luxury apartments

Executive Vice President and Development Officer

Support to the CEO in acquisitions, review of major markets, feasibility, budgeting, contracts, project management, commercial leasing and owner’s representation with third-parties.

2005-2009: One Park Place – total development scope

2005-2007: Various projects-in-progress CA, GA, ILL

2008: Advisory to Oliver-McMillan on River Oaks District plan

2008-2011: Review of urban metro markets including TX, CA, CO, AZ, ILL, GA, FLA, WDC for prime sites and off—market opportunities. Review of financial markets for distressed real estate and REO asset acquisition opportunities

2008-2010: Whole Foods Market, Montrose – ground lease, development budgeting, site civil engineering and owner’s rep

2010-2011: 2929 West Dallas – project concept, land use plan, and financing alternatives

2010-2011: Phoenicia Foods Market, Houston – lease, public capital subsidy, and development from concept to opening.

1997-2005Century Development, Houston

Commercial real estate development

Senior Vice President and Development Officer

Major urban land development including high-rise office buildings, mass transit-oriented development, major retail mixed-use centers, hotels, medical projects and performing arts centers.

National development of on-campus university student housing.

Finance, major lease negotiation, capital budgeting, investment analysis,

and partnership administration in major capital projects including:

EDWIN H. MURPHY, MBA, CPA

Home: 4517 Oleander Street, Bellaire, Texas 77401

Phone: 281-***-**** E: adamlz@r.postjobfree.com

Page 3 – Professional Employment and Experience

1997-1998: Compaq Computer Corp. – total development process of corporate campus expansion

1998-2004: Reliant Energy Plaza, 1000 Main Street – total scope development plan, JV partnership, financing, leasing to 95%, operating plan, recapitalization and project sale.

2001-2004: METRO Transit Rail Project – plan advisory

2004-2005: Texas Medical Center – land advisory

1994-1996Edwin H. Murphy Interests, LLC

Real estate consultant to landowners and investors (TX, CO and FLA)

1979-1993Hines

International real estate investment and development

Senior Project Manager in Southwest Regional Development Group

Major commercial real estate development including high-rise office buildings, major retail mixed-use centers, hotels and medical projects.

Finance, major lease negotiation, capital budgeting, investment analysis,

and partnership administration in major capital projects including:

1979-1980: Financial modeling and support to CFO

1980: theGalleria, Houston – expansion project management

1981: Galleria Dallas – conceptual plan and pro-formas

1981-1985: Transco Tower and Park (now Williams Tower and Hines Park) – total scope development, financing and leasing; monthly draw and status reporting; and owner’s representation with Kuwait Investment Office, London

1982: The Warwick Post Oak (now Hilton Post Oak Hotel) completion and re-financing plan

1983-1985: Galleria/Post Oak retail centers and Smith land, Houston TIRZ#1 origination for Uptown Houston District

1984: Guest Quarters East Hotel – conversion plan and sale

1984-1985: Westin Hotels – refurbishment plans and PM

1986-1990: St. Luke’s O’Quinn Medical Tower – total scope development, Staff physician leasing and operating plan

1990-1991: Museum of Fine Arts, Houston – Board advisory

1991-1993: Texas Medical Center – land use advisory

1977-1979Arthur Andersen & Company, Big 8 Public Accounting Firm

Senior Consultant, Administrative Services Division, Houston

Management consulting to Energy, Oil & Gas, Healthcare and Manufacturing clientele globally.

Clients served directly:

United Energy Resources, Inc. – General accounting systems

Cameron Ironworks Corporation – Inventory control systems

EDWIN H. MURPHY, MBA, CPA

Home: 4517 Oleander Street, Bellaire, Texas 77401

Phone: 281-***-**** E: adamlz@r.postjobfree.com

Page 4 – Professional Employment and Experience

Browning-Ferris Industries, Inc. – Management reporting

St. Luke’s Episcopal Hospital – Patient accounting systems

C&K Petroleum Corporation – Leases and Land

Quintana Energy – Leases and Land

1976Underwood Neuhaus & Company, NYSE

Registered Representative, Series 7, 63 and 66 licenses

1966-1976 J. Rich Sports, Ltd. – Employment during high school and college

Houston and Austin, Texas

Addendum

Edwin H. Murphy, MBA, CPA

Results and Career Achievements: Developed Value, Controlled Cost and Managed Risks For Private, Corporate and Institutional Real Estate Owners

Performing in the professional roles of project manager, development officer, investment officer, financial analyst, asset manager and owner’s representative, assisting CEO or leading a team, I have accomplished the following results:

1. Developed over 6 MM square feet of first-class commercial space in major urban projects including high-rise office space, urban retail, medical, luxury high-rise residential, hotel and mixed-use space. All projects completed on schedule and budget.

2. Completed a $220 MM, 64-story office tower, 3,200-space garage and pedestrian skybridge project on schedule and 1.5% under budget in Houston, Texas. Tower erection was fast-track on a record schedule faster than erection of The Empire State Building. Generated a $17 MM land dividend and $27 MM cash distribution during development period. Created a $1.6 MM cash dividend by sale of excess ITC to a public C corporation. Served as Owner’s Representative to foreign sovereign investors (KIO, London) and international society (Paris). Created a landmark identity; and recently traded at a value in excess of $475 MM.

3. Completed a $160 MM, 36-story office tower, 55,000-sf energy trading floor, mixed-use center, District Cooling System, and 3 pedestrian tunnels on schedule and 2% under budget. Leased up to 94% with diverse, long-term credit-leases. Project sale at a 6.9% cap rate and set a record sale price in Houston, Texas. Negotiated $14.5 MM in public TIRZ and transit capital. Created a landmark identity; and recently traded at a value in excess of $450 MM.

4. Completed a $105 MM, 26-story medical office tower, ambulatory out-patient care center and pedestrian bridge ahead of schedule and 2% under budget for St. Luke’s Healthcare System. Negotiated for the exclusive site by transfer of long-term ground lease obligations. During construction period, staff physician office space was pre-leased 100% and over-subscribed before project opening. Created a landmark identity. Generated over $3 MM development fee.

5. Completed a $100 MM, 505,000 square foot office tower, pedestrian bridge and 1,800-space garage ahead of schedule and on budget for Compaq Computer Corp./ Hewlett-Packard Corporation. Completed on a fast-track approach, a 13-month schedule from ground-breaking to full occupancy.

6. Completed a $5 MM, 2-level addition to expand theGalleria parking facility (while under continuous mall operation) in order to exchange parking rights for assemblage of prime office development site. Construction completed ahead of schedule and 10% under budget.

7. Completed a $5 MM, 3-acre park including 205 live oak trees and monumental water feature project on schedule and 5% under budget in Houston, Texas. Negotiated a 40-year reduction of local commercial property taxes by dedicated park land-use agreement. Created a landmark.

8. Completed a $2 MM, 2-acre park and monumental water feature project on schedule and 5% under budget in the Texas Medical Center. Created a landmark.

9. Completed a $15 MM, 216-unit luxury rental apartment project on schedule and on budget in Houston, Texas. Originated the project for landowner, developer and arranged the joint venture. Introduced first new-generation multi-family residential product to the sub-market in 20 years.

10. Assisted in initial concept, development and completion of a $200 MM, 37-story luxury apartment tower in Downtown Houston, the first such project in 45 years. Negotiated a public capital grant of $500,000 to create a new urban food market amenity in ground floor lease space of 28,000 sf.

11. Marketed and negotiated leases with national brokers and legal counsel for over 2 million square feet of commercial office and urban retail lease space to major energy companies, regional banks, global financial institutions, high-technology firms, medical institutions and international law firms; and national restaurants as well as exclusive restaurants.

12. Negotiated and closed the permanent mortgage refinancing of the Hilton Post Oak Hotel (fka The Warwick Post Oak Hotel) 60 days ahead of schedule and reduced the outstanding $64 MM construction loan (accruing 17%) interest cost by over $1.9 MM, a project cost savings to owner. Hotel opening early also generated two additional months of peak holiday net operating income, approximately $5 MM.

13. Negotiated the sale of private land to the State for highway right-of-way at full appraised fair market value. This monetized residual (non-commercial) land value and also eliminated significant ad valorem property taxes and maintenance expense incurred by owners.

14. Negotiated private street easements and land parcel exchanges among private landowners to create assemblage of a prime site for major high-rise development served by new public streets for ingress/egress. This created substantial commercial asset value, 2 additional development parcels, and insured feasibility of a 2 MM square foot office project.

15. Negotiated the expansion of the Main Street Tax Increment Reinvestment Zone (TIRZ) to include downtown blocks to be developed by owner, and thereby generated the public capital $14.5 MM to fund owner’s qualified improvements including pedestrian tunnels and other improvements, which constituted 8% of the capital budget, reduced equity and debt capital requirements and increased financial returns to investors.

16. Negotiated the sale and redevelopment of the Guest Quarters East Hotel property converted to The Hampton, an age-restricted residential project. Monetized full market value of the asset in cash proceeds to owners/sellers and defeased the mortgage debt.

17. Assisted in reorganization and reconstitution of multiple real estate limited partnerships including acquisition of limited partner interests by the general partner to consolidate control and ownership of each asset.

18. Assisted in financial analysis and renegotiation of long-term ground leases to consolidate leasehold interests and fee ownership, which facilitated owners’ estate planning, unencumbered fee ownership and future development opportunities.

19. Completed the remediation of multiple UST and LST facilities for owners to fully comply with prevailing environmental law, preserve substantial commercial land value (i.e. $50-$250 psf) and eliminate liability risk to owners.

20. Canvassed the top metropolitan markets in the U.S. (2005-2015) to identify/qualify acquisitions and new business opportunities including Los Angeles, Chicago, Washington DC, Atlanta, Denver, St. Louis, Phoenix, San Antonio, Dallas, and Austin. This effort produced competitive market intelligence (i.e. product, pricing, promotion and position) and comparable metrics for investment analysis and strategic decision-making by owners.

21. Negotiated corporate aviation acquisitions, aircraft sale contracts, operational sharing agreements, hangar leases and FBO agreements. Given the cyclical market for corporate aircraft, this reduced owner’s economic risk, annual operating expense budget of the corporate aviation department, and improved asset utilization.

22. Negotiated and assisted landowners in long-term net leases of prime urban (ground leases and commercial retail leases) with credit-lease tenants, including Neiman’s, Dillard’s, Tony’s, Whole Foods Market (2009) and Phoenicia Foods Market (2010). Created significant competitive advantages (i.e. incomparable marketability and amenity value) and substantial added-value (+25%) in owner’s real estate for higher-use development including commercial retail mixed-use and luxury residential projects.

23. During 2011-2014, advised principal investors on acquisition and development of private real estate holdings located in Houston including prime sub-markets:

oDowntown CBD blocks

oEast End District

oMuseum District/Montrose corridor

oUpper Kirby District

oRice University Village

oGreenway Plaza/Richmond Avenue

oUptown Houston/theGalleria

oRiver Oaks District

oTexas Medical Center (not-for-profit and for-profit land)

oWest Houston/Katy corridor

oNorth Harris/The Woodlands

oPearland/South Freeway corridor

oGalveston Island

24. During 2014-2015, advised owners in planned development and permitting of 48-acre PUD holding in South Houston/Pearland market; Modern Land (China) Development Ltd. (Hong Kong) and American Modern Green

25. During 2014-2018, have reviewed the urban market conditions and prime opportunities including off-market for acquisition and development in:

oHouston

oAustin: The UT System Holdings, Dell Medical Center, Downtown and East Austin

oAtlanta

oDallas/Fort Worth

oDenver/Boulder

oAspen/Basalt (residential, commercial core and conservation land)

26. Leadership in private and public community affairs:

oUptown Houston, Inc. (Houston TIRZ #1)

oCentral Houston, Inc. (Main Street TIRZ extension)

oDowntown Houston Management District (Vanguard Retail and Residential initiatives)

oMETRO Light Rail Transit (Plan and installation 2004)

oTexas Medical Center (1986-2015)

oMuseum of Fine Arts, Houston

27. Advisory to private and institutional real estate owners in Austin, Texas:

oThe University of Texas at Austin

oCentral Health

oWhole Foods Markets

28. Managed zoning, PUD affairs and amendment of zoning in Austin and Atlanta.



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