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VP of Acquisitions and Asset Management

Company: SelectLeaders
Location: Aliso Viejo
Posted on: September 12, 2020

Job Description:

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Orange County, CA-based, privately held commercial real estate development and investment management company with exceptional performance specializing in syndications, core and value-add real estate investments. With an entrepreneurial spirit and proven 12-year track record they have steadily built up a portfolio of over 1 billion dollars of multi-family and student properties nationally.

OPPORTUNITY

Our company is well-positioned and capitalized to execute an aggressive acquisition program and is currently seeking to hire a VP level Director of Acquisitions and Asset Management for our Orange County, CA Office.The Director will report to the CEO of the firm and will function on the executive team with a primary focus on acquiring and managing multifamily and student properties and portfolios concentrated throughout the United States.

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:

Sourcing appropriate multifamily/student acquisitions.

Identify and analyze the major risks affecting an investment opportunity.

Research supply and demand forces in the market.

Develop detailed and accurate financial models.

Brief principals and staff on project details and prepare presentations for Investment Committee.

Analyzing/verifying project budgets and pro-forma assumptions.

Obtaining and confirming third party reports.

Verifying and scrutinizing due diligence documentation.

Reviewing and assessing rent and sale comparables.

Coordination and participation in closings.

Other duties as assigned.

QUALIFICATIONS

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.

Deal Sourcing: Responsible for sourcing potential acquisitions with specific focus on Core, Core-Plus, Value-Add, and Joint Venture Development.

Identify and analyze the major risks affecting an investment opportunity.

Research supply and demand forces in the market.

Develop detailed and accurate financial models. Brief principals and staff on project details and prepare presentations for the Investment Committee.

Analyzing/verifying project budgets and pro-forma assumptions.

Obtaining and confirming third-party reports.

Verifying and scrutinizing due diligence documentation.

Reviewing and assessing rent and sale comparables.

Coordination and participation in closings.

Networking within the real estate community is a major part of this position and includes determining the appropriate contacts within markets and the cultivation of these relationships to ensure the successful execution of our long-term business plans. Essential contacts to be established and maintained include competitors, brokers, management companies, developers, potential sellers, data providers and so forth. The VP must maintain a current pipeline of acquisition candidates.

Acquisition Process Management:

Prepare all market analyses

Develop a financial assessment and prepare an acquisition pro forma

Supervise assigned real estate analyst

Negotiate with seller or seller's representatives

Assemble and manage the due diligence team

In conjunction with Asset Management, develop a business plan for the each property

Assist in obtaining the bridge and/or permanent financing

Present to the Investment Committee to secure requisite internal approvals

Coordinate the preparation of the closing settlement statements

Coordinate the closing

Provide appropriate post-closing transitional support to RRP’s Asset Management Group and the Property Management Group as the responsibility for executing the property’s business plan is transferred to those groups. However, the VP will have a portion of their compensation based on the comparison of pro formats to actual performance.

Provide Guidance and Management Oversight: Responsible for providing guidance and management oversight, including setting tasks, approving travel, evaluating their work product and completing year end performance evaluations.

Industry Affiliations:

Participate in national trade associations that further the business activities of the Company. Attend real estate conferences in order to network with potential sellers and developers and to further increase the Vice President’s knowledge of market fundamentals and acquisition/disposition trends within their regional territory.

Qualifications, Skills and Experience:

Four-year college or university degree required, with a Masters of Business Administration degree (MBA) or equivalent desirable.

The ideal candidate will have 7 to 10 years of real estate acquisition experience and 3 to 5 years of direct responsibility for evaluating, sourcing, presenting to the Executive Committee and closing Core-Plus and Value-Add multifamily real estate transactions.

Thorough understanding of financial concepts (DCF, ROI, IRR, NPV, MOIC, CoC, etc.).

A general understanding of, and demonstrated experience in, areas of real estate finance, property valuation and equity investment analysis.

Must have a quantifiable track record in business development in the commercial real estate equity arena.

Must have some experience and proficiency in asset management.

Communication Skills:

Excellent written and verbal communication skills.

Strong organizational and analytical skills.

Ability to effectively present information.

Ability to respond effectively to sensitive issues.

Proficient in electronic communication and organization.

Must have developed relationships and the proven ability to further develop, cultivate and manage high-quality relationships with sellers, lenders and intermediaries in the commercial real estate investment industry.

Must work well in a multi-functional collaborative environment and demonstrate a strong work ethic and committed client service.

Must be a highly communicative leader and team player.

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Keywords: SelectLeaders, Aliso Viejo , VP of Acquisitions and Asset Management, Other , Aliso Viejo, California

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