ASSOCIATE – MULTIFAMILY ACQUISITIONS
Dallas-based, privately held commercial real estate development and investment management company with exceptional performance specializing in value-add and opportunistic real estate investments. With an entrepreneurial spirit and proven 30-year track record across several market cycles they have steadily built up a portfolio of over 13 million square feet of industrial and office properties and 3,700 multifamily units located nationally.
The Associate- Multifamily Acquisitions will be working closely with the Multifamily Acquisitions team in providing support throughout all areas of the acquisition process including deal sourcing, underwriting, financing, due diligence, and closing with a primary focus on evaluating and underwriting new opportunities.
KEY RESPONSIBILITIES / DUTIES
The activities listed here are not all-inclusive; rather, they indicate the types of activities normally performed by this position. The successful candidate will be able to demonstrate core competencies in the following areas:
- Primary responsibility will be evaluating and underwriting potential new multifamily investment opportunities using an Excel based model. The evaluation process may include, but is not limited to, the following activities: reviewing P&L statements, rent rolls, and tax statements; researching and analyze demographic, economic, and real estate market data to recognize market trends in order to support all underwriting assumptions with a high level of certainty; communication with those parties familiar with the asset and market (investment sales brokers, lenders, property managers, tax advisors, attorneys, appraisers, and other third party service providers); travel with acquisition team to conduct on-site due diligence for potential new investments.
- Attend and participate in weekly investment committee meetings.
- Maintain detailed pipeline of potential new investments to be reviewed on a weekly basis.
- Prepare presentation material for possible new acquisitions.
- Be instrumental in the writing and production of investment memorandums and related marketing collateral.
- Instrumental in the due diligence and closing processes.
- Ensure that objectives and timelines are being met. Prepare and deliver timely, accurate and complete reports as needed.
- Recognize and evaluate trends in financial statements
- Be a key thought leader in evaluating real estate opportunities through the Westmount investment acquisition process.
- Provide overall support for the multifamily team with a willingness to learn and an enthusiasm for commercial real estate.
- Supports all property sales and acquisitions by participating in the due diligence process.
- Performs other duties as assigned.
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.
EDUCATION and EXPERIENCE
- Bachelor's degree (BA/BS) from a four-year college or university in a relevant field of study (business, finance, real estate, economics) with a 3.5 GPA or higher.
- A minimum of three (3) years of related experience and/or training.
- Documented knowledge of real estate cash flow modeling using Microsoft Excel.
- Affordable, student, or senior housing experience a plus.
- Excellent written and verbal communication skills.
- Detail oriented with strong organizational and analytical skills.
- Ability to provide efficient, timely, reliable and courteous service to customers and clients.
- Ability to effectively and efficiently present information and interface with Acquisitions Team as well as Company Leadership.
- Ability to prioritize and work independently; also works well in a group setting.
- Ability to respond effectively to sensitive issues.
- Requires advanced analytical and quantitative skills.
- Be able to recognize and analyze trends in financial statements.
- Exhaustive understanding of financial concepts (DCF, ROI, IRR, NPV, Cap Rate, etc.) and factors effecting these metrics.
- Ability to comprehend, analyze, and interpret complex documents. (i.e. PSA, Lender Docs…)
- Ability to comprehend basic legal language as necessary.
- Ability to solve problems in stressful situations.
OTHER SKILLS and/or ABILITIES
- Intermediate to advanced skills with Microsoft Office Suite.
- Advanced skills with Microsoft Excel.
- Willingness to work long hours when necessary.
SCOPE OF RESPONSIBILITY
Decisions made with thorough understanding of procedures, company policies, and business practices to achieve general results and deadlines. Self-sufficient in monitoring work unit and/or project deadlines. Errors in judgment may cause short-term impact to department.
2+ to 5 years