Our client is a privately held, New York City based real estate developer and operator that has successfully developed and managed real estate in New York City and surrounding suburbs for over 90 years. Over the years, our client has deepened their core competency in New York City multifamily and mixed-use real estate and is widely recognized as a market leader in both development and management.
The firm is now committed to a multi-year strategic plan that leverages the company’s reputation and vast knowledge of New York metro real estate to dramatically expand its investment and management portfolios. The firm’s investment thesis will be centered around adaptive reuse and repositioning of existing functionally obsolete real estate assets into multifamily or mixed-use.
Investments will be located along transportation lines and key nodes in the greater New York metro area, capitalizing on opportunities in the highest growth markets. Our client targets core-plus, value-add and opportunistic investments, adapting to the changing market and maintaining the ability to remain active throughout the real estate cycle.
Our client has executed $2 billion in acquisitions and development since 2012, and are committed to sourcing and executing an additional $1 billion in new projects by 2020.
Our client is currently in process raising $300 million in programmatic equity capital from a joint venture partner.
- Reporting to the Chief Investment Officer and working closely with the senior management team, the Director, Acquisitions will identify new opportunities and structure, negotiate and close Real Estate investments that fit within our client’s investment objectives.
- The position will be based in New York City. Key responsibilities include the following:
- Lead the sourcing, evaluation and execution of $100M+ rental residential properties in the New York City metropolitan area.
- Identify new investment opportunities and effectively propose, support and articulate prospective transactions to the principals.
- Screen investment proposals to determine fit within our client’s investment objectives.
- Identify and analyze trends in the industry and recommend investment strategies and opportunities.
- Interface with investment bankers, the brokerage community and investors, as required.
- Prepare investment memoranda for discussion with the investment committee.
- Present, along with the team, support for the transaction and help answer investment committee questions.
- Lead or support due diligence efforts
- Oversee / support an analyst in development of financial models / analytical evaluation of investment opportunities
- 10 + years of relevant real estate experience with a specific focus on acquisitions.
- Proven investment track record of creating and closing commercial real estate transactions with a focus on experience in residential properties within New York City Metropolitan area
- Ability to understand and negotiate complex legal agreements
- Ability to understand the investment risks and the methods to mitigate the risks in structuring investments
- Experience with project financing
- Intimate familiarity in the negotiation of purchase and sale agreements, joint-venture documents, loan documents and inter-creditor documents
- Demonstrated excellence in real estate investment due diligence, underwriting, transaction structuring and financial analysis
An undergraduate degree is required; an advanced degree in business, finance or real estate development is preferred.
A compensation package will be commensurate with experience and offer incentives.