Job description

This role focuses on identification, financial underwriting, and operational aspects of acquiring vacant land for ground up development, specializing in Affordable Housing deals. This person works with the Chief Investment Officer and Acquisition team to identify markets and subsequently specific assets in those markets to acquire.

The primary goals for an Acquisition Manager are to assist in identifying markets and assets that meet Garrett criteria, determining the best yield vs risk for those sites, and then minimizing risk and time by completing a thorough due diligence analysis for each potential acquisition.

This role is intrinsically involved in exploring funding options, and working with all parties in the creation, management, and execution of funds and funding mechanisms.

Major Objectives:

• Work with the Acquisition team to identify and select target markets for acquisition opportunities, specifically sourcing 4% and 9% opportunities.
• Assist in determining the potential profit and risk for new acquisitions.
• Successfully secure 4% and 9% tax credit awards in various states.
• Consistently gauge and report on the performance of potential assets and acquisitions.
• Underwriting and presenting investment opportunities to the team through extensive proforma modeling and market research.
• Preparing market analysis reports.
• Able to secure Construction loans, permanent loans, and tax credit equity.
• Work in unison with Development team to create and execute entitlement checklist and schedule.
• Lead community outreach, solicit community input and support for rezoning.
• Facilitate municipal and political support.
• Demographic analysis and interpretation.
• Tracking potential markets and assets in a structured manner.
• Communicating opportunities to a wide range of audiences including investment and equity partners, lending partners, internal teams (Development, Construction, Investments, and Management), brokers, and third-party consultants.
• Supporting Investment Team activities including (but not limited to) site acquisition, initial due diligence, and market research.
• Create new, manage existing, and evolve relationships in new and existing markets.
• Interpret data by taking into consideration the price, stability, yield, economic influences, potential investment-risk trends, and other factors that could impact the outcome of the investment.

Specific Duties & Responsibilities:

• Analyze acquisition projects using Excel modeling spreadsheets and other technology.
• Supporting role to Chief Investments Officer.
• Assist with various ad-hoc financial analysis and reporting.
• Create, update, and maintain acquisition pipeline analysis and reporting.
• Monitor and model acquisitions for yield and risk projections.
• Monitor research of US markets regarding rent, employment, impact fees, taxes, permits, and supply and demand trends (includes review and analysis of demographic software).
• Assist Investments Team as needed. (i.e., acquisitions, senior housing, tax credit, HUD financing, budgets, management fee analyses, etc.)
• Due diligence research on rent, expense, utilities, taxes, fees, and other market data.
• Tracking deal status through monthly reports, assisting in asset closings, and providing deal status updates.

Required skills:

• Strong excel skills and related macro programming, power point, web search engines.
• Strong written and verbal skills.
• Ability and willingness to network and travel as needed.
• Ability to handle multiple tasks and for multiple projects.
• Ability to work independently and with team of professionals as needed.
• Ability to track market data.
• Ability to aggregate and interpret demographic information (employment trends, population growth, income trends).
• Strong financial analysis skills in working with detailed financial models.
• Knowledge of source & use and flow of funds concepts.
• 5-10 years in real estate development or related field required.

Required Education:

• Minimum of bachelor’s degree in accounting, statistics, finance, mathematics, or some other relevant field.

Prerequisites:

• Relevant experience with commercial real estate transactions.
• Working knowledge of multifamily assets in terms of underwriting, forecasting, and operations.
• Analytical skills to forecast and identify opportunities, trends, and challenges.
• Excellent written and verbal skills.
• Strong organization skills.
• Proficiency in Microsoft Office suite.
• Experience with marketing, public speaking, and presentations is a plus.
• Professional judgment and discretion that comes from experience in working with customer services, internal teams, and 3rd party consultants.
• Familiarity with the latest trends, technologies and methodologies at it relates to this role.

Pre-Prerequisites (these are the most important items):

• Positive attitude.
• Coachable.
• Ability to listen and understand intents and goals.
• Ability to think creatively and innovatively.
• Relentless problem-solving skills.
• Must understand the difference between causation and correlation.
• Ability to think 2+ steps ahead and anticipate what comes next.
• Must be willing to work and support at all levels.

Job Type: Full-time

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