Summary of Our Company:
Mascia Development is an entrepreneurial real estate company, founded in 2006, which has recently moved its headquarters to Phoenix from New York City. We have additional offices in New Jersey and Virginia. Our company acquires and develops $5-10million retail and medical office properties in all 50 states.
Our investment capital comes predominately from large family offices where we work as their outsourced real estate expertise. Mascia Development also does conduct syndicated equity offerings and utilizes crowdfunding to expand our brand. Our company specializes in delivering excellent risk adjusted returns over the long-term with a focus on wealth preservation/loss mitigation. We are value + growth investors from the school of Warren Buffett, Charlie Munger, Philip Fisher, Benjamin Graham, and Thomas Rowe Price Jr.
Summary of Position:
The Acquisition Manager will source properties for purchase through both on and off market opportunities, develop relationships with sales brokers and possible JV partners, as well as cold call target area property owners. The Acquisition Manager will also provide general assistance with the acquisitions process including market research, financial analysis/underwriting, structuring, due diligence and closing support. The candidate must be self-motivated, organized, and detail-oriented with excellent verbal and written communication skills. The ideal candidate thrives in fast-paced, high expectation, deadline-oriented environment with the ability to multi-task and adapt to changing priorities.
Principal Duties and Responsibilities:
- Deal Sourcing: Source and evaluate investment opportunities investment criteria. The focus will be on value-add medical office and retail properties. The role will involve substantial interaction with real estate brokers and other property owners.
- Deal Structuring: Assist with deal structuring and negotiation of investment terms, including coordination with legal counsel.
- Investment Projections: Assemble and modify cash flow projection models with respect to an investment, utilizing Excel. Develop and form defendable opinions on various underwriting assumptions and appropriate pricing/return parameters.
- Investment Summary: Prepare, present, and defend investment summaries to the investment team for consideration. Candidate must be able to clearly articulate and support an investment thesis for a variety of different product types, submarkets, and levels of risk.
- Due Diligence and Closing: Undertake all due diligence responsibilities including detailed analyses of a property’s title and entitlement status, engineering and environmental condition, financing, tenants and in-place leases review, operations and related financial statement review, analysis of market and competitive position, and other typical pertinent due diligence issues. Involves substantial data collection and review. Monitor transaction progress and coordinate closing.
- Other Duties:
- Develop and maintain project pro-formas for review by management, financial partners, and owners.
- Responsible for all aspects of development management to include entitlement work, design, construction oversight, development team management and coordination with all partners, lawyers, consultants, engineers, architects, etc.
- Create detailed project schedules for contract due diligence to closing.
- Participate in the origination and execution of property financings and recapitalizations.
- Communicate regularly and effectively with the project team on status of work
- Organize and maintain a database of all potential acquisition and development sites
- Special projects as required
Education and Experience Requirements:
- Undergraduate degree required. MBA, MRED or CFA is a plus, but not required.
- Cold calling and ability/comfort speaking to strangers is a must. While we have cold calling support you must be able to set appointments for yourself and our CEO with property owners and other groups as needed
- Exhibit excellent writing, research, personal networking and presentation skills
- Must be highly organized, resilient, and self-directed
- Ability to verbalize concepts and effectively defend recommendations using data
- Must have exceptional attention to detail and follow up skills
- Strong quantitative and analytical skills including Excel
- Experience in real estate preferred, but not required if you have other sales or marketing experience
- Extremely outcome oriented and self-reliant/resourceful. This is not a place for people who require a lot of company support structure to accomplish tasks and reach goals
- The candidate should be highly proficient in Excel, Word, PowerPoint, and Project
- Strong work ethic, integrity and commitment to meet deadlines are essential candidate attributes
- Excellent verbal and written communication skills
- Problem solving and overcoming obstacles to achieve results
- Ability to manage several projects simultaneously through high energy, flexibility and excellent organizational skills
- Position may require some travel
This description outlines the basic responsibilities and requirements for the position noted. This is not a comprehensive listing of all job duties of the Associates. Duties, responsibilities, and activities may change at any time without notice.
- Everyone in our acquisitions and development group is compensated based on execution of acquisitions to incentivize results.
- Commission based
- Unlimited earning potential