Director of Multi-Family Acquisitions

Position Title:  Director of Multifamily Acquisitions

   

Reports to: Chief Executive Officer

  Vice President of Acquisitions

 

Position Purpose

 

The Director of Acquisitions will run all aspects of the Company’s multifamily acquisition effort.  Has responsibility for sourcing new deals, investigating new markets, underwriting and analysis, physical site inspections, due diligence, structuring and completing transactions.  Extensive travel is required.

 

Essential Functions

The following list of essential job functions is not exhaustive and may be supplemented or changed as necessary:

 Sources, evaluates and analyzes new opportunities, both on-market and off-market, utilizing a variety of methods (including, but not limited to brokers, bulletins and news sources) Analyzes target markets throughout the United States to anticipate and identify expansion opportunities by researching market conditions, demographics, competition and other activity generators Performs site visits and inspectionsConducts analysis and provides management with deal summaries to identify the most financially promising dealsConducts feasibility analysis for all new sites or properties under considerationPerforms due diligence on potential acquisitionsReviews third party appraisals and environmental studiesAnalyzes and applies appropriate market-based underwriting criteriaCoordinates contract support for all phases of the acquisition process, which includes:  review of purchasing and closing documents, as well as due diligence review of all leases and property contractsSearches public records for any variances, liens, assessments or other issues to ensure anything pending can be dealt withNegotiates with sellers on the sales price and terms of the purchasePrepares risk assessments and summary reportsWorks with legal staff to negotiate pre-closing agreementsActs as a team member with all employees of the firm’s staffComplies with all policies and proceduresCarries out other duties as assigned by supervisors

Specific Job Knowledge, Skill and Ability

The individual must posses the following knowledge, skills and abilities and be able to explain and demonstrate that he or she can perform the essential functions of the job, with or without reasonable accommodation, using some other combination of skills and abilities.

 Must have an understanding or direct experience with multifamily real estate and asset managementHighly motivated and enthusiastic team player with a "can do" attitude and ability to effectively internalize the business objectives and spirit of a rapidly developing, fast-paced, success-oriented and highly principled entrepreneurial companyAbility to create financial modelsMust be familiar with accounting systemsMust be highly resourceful and possess the ability to research and identify residential sub markets with growth potentialDemonstrated success in projects requiring independent judgmentExcellent Microsoft Office and Advanced Excel skills requiredExcellent verbal and written communication skillsAbility to handle pressure and meets deadlines and set priorities for workloadAbility to interpret responsibilities and possess initiative and willingness to assume additional responsibilitiesAbility to work collaboratively with coworkers and maintain a cooperative, productive atmosphereMust be adaptable and able to travel with little notice



Supervisory Responsibilities

 

· Directly supervises the firm’s Multifamily Acquisition team.

· Carries out supervisory responsibilities in accordance with the organization’s philosophy.

· Reviews workload and analyzes staffing requirements; interviews, selects, trains, counsels and evaluates staff to ensure effective support; reviews the efforts of staff and provides direction where needed, ensuring timely completion of task and projects in accordance with objectives.

· Plans and implements a program of training and professional development for all assigned staff; program must develop the skills and future potential of team members and maintain a high level of knowledge in their respective areas.

 Experience

 

· 7-10 years of experience identifying, underwriting, and closing real estate transactions

· Exposure to real estate acquisitions and/or asset management is preferred

 Education

 

· Bachelor’s degree in Business Administration, Finance or a related field is required