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Grocapitus, a very fast growing Commercial Real Estate company with over $1B in assets is looking for an extremely experienced Director of Acquisitions and Development as a key member of the investment team.
Primary responsibilities include analysis of multiple Value-Add Acquisitions per year with a goal to acquire 3 to 4. Previous experience in underwriting multifamily acquisitions, sourcing and closing debt for commercial assets, and expertise in excel and financial modeling are keys to success in this position.
Job duties include but are not limited to: underwriting value-add acquisition opportunities, sourcing debt for both construction loans and agency debt, working with legal, title and lender to close loans on Acquisitions and refinances, providing recommendations, reports, and updates, to the Investment Committee, updating and creating new financial models, collaborating with team members and third parties to accomplish the company’s objectives, and identifying and securing opportunities.
Additional job duties include managing the land acquisition of one Development project per year. In addition to acquisition, you will help get the land through entitlements and construction, with the help and guidance of a third party pre-construction / construction management team.
While we prefer a candidate who is a multifamily acquisitions expert and also has some multi-family development and preconstruction experience, for the right candidate, we will mentor you on the development / pre construction side.
Job Responsibilities include, but are not limited to:
1. Investment Analysis
-Spearhead initial project feasibility analysis for primarily value-add and potentially some development opportunities to determine viability of each deal
-Prepare comprehensive underwriting and due diligence analysis to assist with the timely evaluation of new investments
-Develop relationships with brokers to expand our deal flow and understand the dynamics of each opportunity Report underwriting findings to senior management Determine debt scenario options and analysis to optimize cash flow and returns Conduct sensitivity analysis exercises to “stress test” projects and project structures Lead & Manage the Acquisitions & Development department in the due diligence and closing process
2. Financial Modeling
-Maintain the financial model (proforma template) used for all Investment Committee Applications, including implementation of improvements and updates as required Create various waterfall structures and distribution scenario analysis Create modeling tools and resources for cross functional use
3. Data Collection
-Manage in the collection, integration and analysis of data that feeds into the firm’s investment monitoring and decision-making processes
-Develop and maintain operating expense databases tracking historical property data and project figures for generation of company metrics to be used in underwriting
Skills Required In depth understanding of the multifamily value-add acquisition process, with bonus if you also have knowledge of the entitlement and Development process as well, but not required.
Experience
- Bachelor’s degree in Real Estate, Business, or a related field; an advanced degree is preferred.
- At least 5-7 years of experience in Real Estate acquisitions, with a focus on multifamily.
- Demonstrated leadership skills with the ability to manage and inspire a diverse team.
An understanding of financial statements, specifically focused on profit & loss statements & rent rollAbility to perform Real Estate market research and complex financial analysis including the development of project pro formasDemonstrated financial modeling skills; capability of building complicated loan and/or waterfall structures
Job Type: Full-timePay : up to $100k Annual salary
- up to 50k in annual bonuses
Benefits:
- Paid time off 2 weeks (10 working days), going up to 3 weeks (15 working days) after 24 months, plus standard US Holidays.
- Please note - This is a full-time contract position with no additional benefits - you will receive a 1099 each year.
Required travel:
- 10 to 15% (~2x per month)
Work Location:
- This is a full time remote position, working within Pacific hours.
Job Type: Full-time
Pay: Up to $100,000.00 per year
Benefits:
- Paid time off
Schedule:
- Monday to Friday
Experience:
- Underwriting: 5 years (Required)
- Multifamily Value-Add Acquisitions: 3 years (Required)
Work Location: Remote
