Job Description
Wholly owned subsidiary of a privately held commercial real estate investment firm focused on value-add acquisitions in office, industrial, retail, affordable and multi-family properties throughout the Western United States along with investments in distressed debt, ground leases and affordable housing. The Company is vertically integrated, with offices in California, Texas, Washington, and Arizona and is able to acquire and close transactions, in most cases, in as little as ten days. Founded thirty (30) years ago and operating with no outside capital partners allows us advantages in moving quickly and creatively in structuring acquisitions to satisfy seller needs. Today, the Company owns and operates approximately 11M square feet across 18 states.
POSITION
The Division President will be responsible for scaling the company, strategy, originating, underwriting, and closing Affordable Housing transactions in multiple markets with an initial focus on age restricted opportunities, and market rate communities. The successful candidate will have extensive acquisition experience and a deep understanding of the regulatory agreements encumbering affordable housing properties and the nuances that create a compelling acquisition along with exposure to market rate apartments. The Company anticipates a focus on existing properties or portfolios in lieu of ground-up developments.
LOCATION
Preferred location in either Los Angeles, Phoenix, or Dallas.
RESPONSIBILITIES
Through a focused effort on the acquisition of affordable housing and market rate communities the successful candidate will lead the growth, management and expansion and will be a key member of the Company’s management team working in partnership with other senior leaders in a collaborative, team-oriented environment.
In addition:
· Participate in establishing a 5-year operating plan to scale the business
· Build-out the necessary infrastructure to support the strategy
· Oversee the acquisition team and process, including sourcing, managing due diligence, reviewing third party reports, and working with legal and finance teams to facilitate closings
· Prepare and review market analysis, underwriting and deal summaries for opportunities being recommended
· Develop relationships within the brokerage, developer, and lender communities in target markets to facilitate opportunities
· Attend selected conferences
QUALIFICATIONS
· College degree in real estate, business, finance, or accounting.
· Advanced degree a plus
· 15 + years of real estate acquisition and underwriting experience with a core focus on market rate and affordable housing
· Knowledge of the federal affordable housing programs (LIHTC & HAP) along with other legacy programs
· Understanding of the various tax and financing alternative programs
· Established relationships with regional third-party management companies
· Established relationships within the investment sale broker community
· Strong quantitative and analytical abilities; ability to quickly assess deal viability
· Outstanding analytical, verbal, and written communication skills
· Ability to communicate and develop effective working relationships with others in a team oriented, collaborative and deadline driven environment
· Team player who loves to brainstorm, problem solve and who can think independently
· Travel required (25%)
