The American South Real Estate Fund (“ASREF” or the “Fund”) is a real estate private equity fund that provides mezzanine debt and equity for developers working in emerging low- and moderate-income neighborhoods throughout the southern United States. ASREF is managed by a joint venture between Vintage Realty Company and Strategic Development Solutions (“SDS” ). The Fund is seeking a Senior Vice President of Acquisitions to pilot all underwriting and originations. The SVP will serve as the day-to-day in-house manager at Vintage, relative to its responsibilities to the Fund. The SVP reports directly to the CEO of Vintage Realty Company, David Alexander. The position will be based in the Shreveport offices of Vintage Realty. The successful candidate will be able to clearly articulate and support an investment thesis for various product types, submarkets, and levels of risk, with extensive knowledge of underwriting and closing mezzanine debt and equity investments. The SVP must possess the ability to undertake detailed analyses and to make well-reasoned, decisive recommendations. We seek a proactive, self-motivated candidate with strong sourcing capability, work ethic, and integrity to join our firm.
Duties and Responsibilities
- Underwriting, preparation of Investment Committee Memorandum, and close all Fund investments.
- Intermittently promote originations (until a dedicated Originator is hired).
- Collaborate with SDS staff and management to streamline underwriting and closing efforts.
- Structuring and negotiating investment terms and preparing term sheets, including coordination with legal counsel.
- Assembling and modifying cash flow projection models.
- Developing and forming strong opinions on various underwriting assumptions (with emphasis on the development costs) and appropriate pricing/return parameters.
- Experience analyzing, structuring and implementing exit strategies is essential.
- Preparing pro formas for Fund investments, including sophisticated sensitivity analyses.
- Undertaking all due diligence responsibilities, monitoring transaction progress and coordinate closing.
- Assessing the financial strength of development sponsors.
- Working knowledge of financial programs and products designed to expand the availability of commercial real estate financing.
- Assessing the real estate market where the investment will be located.
- Assessing validity of operating expense assumptions by using comparable data from appraisal, and data provided by the sponsor.
- Facilitate transition of loans with asset management staff.
- Source investment opportunities consistent with the Fund’s investment criteria.
- Maintaining business relationships with investors, developers, accountants, attorneys, consultants, property managers, housing finance agencies, lenders, and any other related parties.
- Develop and frame the Fund’s message, in coordination with Investor Relations, for capital raising activities.
- Thoroughly understand the Company’s Limited Partnership Agreements and other documents related to the organizational structures, GP/LP splits, and legal obligations.
- Performing other duties as assigned
- Bachelor’s Degree in related field, MBA preferred.
- Minimum 7 years of progressive work experience evaluating and structuring real estate investments and loans; this experience must include equity and mezzanine debt investments.
- Advanced knowledge of Argus and Microsoft Excel.
- Intimate knowledge of the real estate development process.
- Excellent writing, financial, and quantitative skills.
- Experience in serving as the lead in negotiating investment structures directly with the developers; working through these structures with legal counsel, and closing investment transactions.
Vintage Realty Company provides a competitive benefits & compensation package including participation in the carried interest. All candidates must be able to prove eligibility to work in the United States and willing to complete a criminal background & drug screening process as successful completion is necessary before an employment offer is granted.
If you are interested in furthering your career in with a progressive successful firm, please submit your cover letter and resume along with contact names and numbers of three professional references. We are an Equal Opportunity Employer.