Job SummaryABOUT THE FIRM
Macdonald and Company are proudly partnered with a rapidly growing real estate investment firm based in Phoenix, Arizona to appoint a new Director of Acquisitions. The firm focuses on Multifamily assets that have generated $400MM+ in sales with an average of 31% IRR. This opportunity provides upwarb mobility and direct access to senior leadership.
ABOUT THE ROLE
The Director of Acquisitions will be the quarterback for the entire Acquisitions lifecycle. Local and regional market knowledge is critical as well as the ability to cultivate and maintain broker and owner relationships. The Director of Acquisitions needs to not only identify new acquisitions and development opportunities, but to own and support underwriting assumptions while working with other departments during the various stages of acquisition and due diligence to meet time critical deadlines.
- Work on every phase of the Acquisitions life-cycle.
- Collaborate with internal staff, partners, brokers, developers, attorneys and other industry contacts to source new acquisition and development opportunities in Arizona, Texas, and other target markets.
- Lead the preparation of feasibility studies, market studies and other ad-hoc analysis to better analyze investment opportunities. Coordinate with partners/potential partners to obtain and process the same.
- With oversight from investment leadership team, lead the organization and negotiation of legal documentation with joint venture and development partners, lenders, sellers and third-party vendors.
- Oversee the preparation of all analysis and due diligence materials to assist with the disposition of existing investments. Coordinate with brokers, partners, sellers and/or buyers during sale processes.
- Oversee the preparation of annual business plans, quarterly reports, budgets and life-of deal underwriting for existing assets. Regularly communicate with partners and/or third parties to understand and reforecast potential financial variances to asset performance.
- Build and maintain acquisition transaction pipeline report. Meet with senior management to timely report on deal flow status and to strategize on pursuit activities.
- Proactively manage assets to meet or exceed business plans.
- Analyze markets (lease and sale comps, broker reports and statistics), location, and historical project information to confirm and establish appropriate underwriting assumptions.
- Track progress relative to approved budgets and timelines and prepare regular investment status reports.
- Provide input on underwriting reforecasts for existing assets to update the property valuations.
- Work with asset management team, joint venture partners and third parties to monitor and be responsible for operating performance. This includes renovation and construction projects, property leasing, and expense oversight consistent with the business plan and budget, the lender requirements and the management or asset management agreements.
- Provide input on monthly and other reports requested on the status of each investment.
- Lead the negotiation of legal agreements with tenants, lenders, sales brokers and other third parties.
- Review capital draw requests and backup on each assigned property, obtaining appropriate approvals and clarifications, as required.
- Monitor and routinely report to senior management on supply and demand fundamentals, competitive set analysis, and other market trends.
EDUCATION AND EXPERIENCE
- B.A/B.S. with strong academic record in Business, Finance, Economics or other financial discipline.
- 4-10 years of real estate investment, acquisitions and/or development experience with a focus on multifamily.
- Ability to generate deal flow of 2-6 new acquisitions per year
- Strong quantitative, analytical, problem-solving and organization skills
- Strong written and oral communication skills
- Must have extensive experience financial modeling in multifamily, performing IRR calculations, operating proformas, sources & uses, and discounted cash flow analysis
- Self-motivated, curious and innovative, with strong time management skills
- Proven ability to multi-task and work proficiently as part of a team
- Competitive base salary.
- Upward mobility and growth opportunities.