Jim O'Donnell has been actively involved in all aspects of real estate development and management over the past 25 years. He joined Dirigo Management in 1991 and today oversees a portfolio of nearly 100 properties. He is a Maine licensed real estate broker and has held his Certified Commercial Investment Manager designation since 1997.
Jim's work for the City of Portland (1977-1986) as a Senior Planner and Community Development Director combined with his duties as Vice President of Development and Executive Vice President for a Portland based real estate company give him a well-rounded perspective in the field of property management. Jim's expertise covers the following areas:
Experience in all aspects of planning and zoning approvals on municipal and state level including DEP and Historic Preservation. Coordination of architects, engineers and contractors for all aspects of multi family and commercial development including new construction and rehabilitation. Projects range from a 116 unit luxury apartment high rise to a 20,000 s.f. office building.
FINANCE: Completion of applications, documentation and follow through for various public and private financing programs including Tax Exempt Bonds, Community Development Block Grants, FHLB Affordable Housing Programs, FMHA multi family program, and conventional loans. Jim knows the programs and underwriting procedures and criteria utilized by the public and private institutions. Projects range from a 331 unit HUD insured apartment complex, a $10.8 million rehab project for an art school with $44.3 million in public financing with the balance covered by a $5.5 capital campaign and $1,000,000 in equity.
WORK OUT: Negotiations with lending institutions to provide alternatives and supporting documentation for satisfactory resolutions to problem loans. Projects range from a 36,000 s.f. mixed building to a 100,000 plus s.f. mill building.
MANAGEMENT: Experience in all aspects of management of large and small multifamily properties and commercial properties. Projects include a high rise luxury apartment building, 42 unit limited equity co-operative housing complex, low to moderate income housing, and subsidized housing complexes, and 200,000 s.f. office tower. Experience includes budget development from pre-construction pro forma through initial and subsequent year operating budgets, marketing, and preparation of operations manual. In August of 1991, Jim joined Dirigo Management Company. As President, Jim is responsible for the management of all residential properties and the Asset Management of several properties for local financial institutions.