Vice President of Real Estate Acquisitions - Fifteen Group

November 08, 2017

Fifteen Group

Miami, Florida 33137
http://www.fifteengroup.com

Overview

 

Fifteen Group, a 25-year old multidisciplinary, opportunistic real estate development and investment company based in Miami, is looking for a highly experienced, real estate acquisitions executive to assist the Chief Investment Officer and ownership in the pursuit of new investment opportunities.  The individual will oversee analysts and associates, and work alongside other VP level acquisitions staff, to coordinate, manage, and execute the pursuit, underwriting, and diligence of new investment opportunities.  The individual will focus on all property types, and all cycles (incl. existing value-add opportunities, new development, land entitlement, etc.).  The position will focus on Florida markets, but occasionally evaluate opportunities in other target domestic U.S. markets.  While the position will work with the deal team on post-acquisitions aspects of the property’s life cycle to implement value-creation techniques and maximize return, this position will focus primarily on new opportunities.  This is a tremendous growth opportunity for someone with seasoned real estate underwriting, investment, and management experience to lead a team in the pursuit and management of multi-disciplinary real estate investment opportunities with a well-established company. 

 

Preferred Credentials:

  • Completed a bachelors degree, preferably with a concentration in real estate, finance, or business-related degree; advanced degree preferred but not essential
  • Deeply seasoned real estate acquisitions/investment underwriting experience, including a minimum of five years of meaningful, in-depth experience underwriting new investment opportunities, preferably across all property types, cycles, and classes.  Experience in evaluating and underwriting Florida markets preferred but not essential. 
  • Strong analytic skills, including real estate operations, pro-forma, and budget formulation
  • Familiarity with all pertinent real estate transactional documents and processes (PSA, loan docs, JV, etc.)
  • Experience evaluating, and underwriting value-creation and “turnaround” strategies of commercial and MF properties
  • Meaningful investment experience working with institutional equity and debt partners
  • Expert proficiency in Excel and Argus underwriting; excellent working knowledge of PowerPoint, Word, Project
  • Prior experience in supervision and management of staff; including a team-oriented approach and successful track record of developing effective working relationships with colleagues, vendors, and consultants
  • Outstanding communication skills, both verbal and written; comfortably interact in-house and with outside contacts
  • Outstanding organizational and multi-tasking skills; ability to work independently, and take strong initiative
  • Be a diligent, hard worker, capable of thriving in an intense, high-energy environment
  • Ability and willingness to travel occasionally, and sometimes frequently, especially within Florida

 

Responsibilities will include:

  • Comprehensive leadership on new acquisitions, from sourcing through closing, including underwriting and diligence
  • Oversee and work with deal team in the creation and updating of detailed financial analyses for new acquisitions
  • Administer the creation and management of presentation packages for new deals and internal/external communications
  • Manage the deal pipeline and delegation of deal responsibility among the deal team, comprised of Associate, Analyst, and Intern level staff
  • Oversee the creation, management, and updating of investment proformas, budgets, schedules, cash flow templates, cash flow projections, and management of underwriting from initial sourcing to closing of the deal
  • Direct market research, deal opportunity inventory mapping, and other data collection to bolster acquisition efforts
  • Significant amounts of interfacing with equity partners and lenders, including analysis of potential JV structures
  • Oversight of third parties and vendors including architectural, engineering, design, market research, attorneys, and other consultants on the evaluation and diligence of new investments
  • Identify and hire third-party leasing and property management firms in acquisitions phase of new assets
  • Oversee the initial preparation of business plans, budgets, and forecasts on new investment opportunities
  • Post-acquisition responsibilities may include monitoring financial performance including income, expenses, and NOI to ensure projections are achieved; analyze financial statements and help advise deal team to make necessary operating adjustments to improve the revenue stream and cost efficiencies; general participation in optimizing asset value
  • Participate in weekly, monthly, and quarterly reporting to the CIO, owners, and principals of the firm
  • Perform and/or assist with special projects as needed by management
  • Position will report directly to the firm's Chief Investment Officer and ownership

 

This will be a well-compensated position with a very competitive, executive-level salary with upside through bonus and deal participations.  For consideration, please forward a detailed résumé/CV via SelectLeaders. All resumes will be reviewed.  Contacting company principals directly via phone or email will disqualify candidates from consideration for the position.