Associate, Acquisitions and Dispositions
Responsible for evaluating, underwriting, performing due diligence and closing the acquisition of office, multifamily and development site opportunities for the Company. In addition, will assist with managing the repositioning of the acquired assets, working with the Company’s finance and construction teams and transitioning the acquisitions to the property management team. Will assist with initial asset management of acquired properties and support future capital activities related to the portfolio, included refinancing, recapitalizing and disposing of currently held assets.
Essential duties and responsibilities:
• Evaluate new acquisitions per the applicable investment strategy.
• Support the offer process, deal awarding and contract negotiations.
• Produce pro forma financial models with detailed cash flows and analysis, in Argus and Excel, for acquisition opportunities and analysis of existing portfolio assets.
• Preparing real estate transaction presentations, packages and analyses for the transaction team, the internal investment committee, investors, partners and lenders.
• Gather and analyze market information including sales and rent comparables, operating expenses, replacement costs, supply/demand fundamentals, capitalization rates and other underwriting assumptions.
• Manage and evaluate due diligence for new acquisitions, including obtaining third-party reports, performing rent and expense analyses and market comparable studies, managing on-site “unit walks” and lease audits and reviewing any due diligence materials.
• Prepare business plans for the repositioning of acquired assets and manage the execution of the business plan by working with the Company’s construction, property management and marketing teams. Transition new acquisitions to in-house property management and finance teams to successfully integrate the assets within the existing portfolio.
• Assist the finance team in the placement of debt financing for new acquisitions or refinancing of portfolio assets, including obtaining debt quotes from lenders, responding to lender inquiries and reviewing loan documents.
• Assist with transaction closings, including coordinating legal document preparation and reviewing closing statements.
• Manage the asset disposition process, including the broker listing, marketing and due diligence process with buyer.
• Remaining up-to-date with current market data and industry news.
• Develop a broker network in the markets in which we are purchasing multi-family product.
Knowledge and critical skills:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• Bachelors degree required, MBA or MSRE preferred.
• 2 years experience in the real estate industry required.
• Strong skills in Argus, Excel and financial modeling, 2-3 years experience with complex financial modeling preferred.
• Real estate license preferred.
• Apartment acquisition and/or project management experience preferred.
• Exceptional quantitative and analytical skills with an ability to understand how the parts fit into the larger picture.
• Exceptional oral and written communications and interpersonal skills.
• Detail-orientation, excellent organizational skills and a strong sense of urgency.
• Positive attitude, integrity and reliability.
• Proactive, solution-oriented mindset with a focus on task management and completion.
• Ability to work in a fast paced environment, handling multiple concurrent large-scale projects with moderate supervision and working both independently and collaboratively.
Physical demands and environmental factors:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• Works in office setting under moderate supervision.
• Will use repetitive motion of hands and wrists in using computer.
• Occasionally moves about to coordinate work.
• Occasionally travels to off-site meetings and acquisition sites.
Critical features of this job are described under the previous headings. They may be subject to change at any time due to reasonable accommodation or other reasons. This job description does not list all the duties of the job. You may be asked by supervisors to perform other non-essential assignments and duties. You will be evaluated in part based upon your performance of the tasks listed in this job description.