Associate Director- Acquisitions

Job Description

Firm Overview

Jonathan Rose Companies (“JRCo”) is one of the country’s leading developers and investors in sustainable, affordable, and mixed-income multifamily real estate, with nearly 18,000 units owned. Founded in 1989, Rose is a mission-driven company focused on enhancing the health and wellness of our residents while also working to make our properties greener and more energy efficient. Rose has in-house asset management, construction, and property management departments as well as affiliate businesses in mortgage lending and title. Rose is also a SEC-registered investment advisor, with 17 years of fund management experience and $3.2 billion of assets under management.

Overview

Jonathan Rose Companies is seeking a mid-level investment professional to join the Acquisitions Group in the New York City office as an Associate Director.  The group manages Rose’s family of institutional private equity funds that invest in affordable and mixed-income housing, primarily in urban, transit-oriented locations.

Position Description

The Acquisitions Group is responsible for sourcing new investment opportunities, including direct investments and joint ventures, managing operating partner relationships, conducting due diligence, obtaining debt financing, grants and subsidies, conducting closings, creating property-level business plans, coordinating with the Finance and Accounting team, developing renovation scopes with the Design and Construction team, and transitioning new acquisitions to the Asset Management team. 

The ideal Acquisitions Associate Director should have 5-8 years of experience in the disciplines of investments and/or real estate finance as well as a demonstrable interest in sustainability, affordable housing, urbanism, and/or impact investing.  Requisite experience may include one or more of the following: real estate investing and/or development, private equity, investment banking, mortgage banking, venture capital, or social impact investing. Experience from top-tier consulting firms and other “buy-side” investment firms will also be strongly considered.

A minimum of a Bachelor’s is required, preferably in a quantitative field such as Finance, Economics, Math, or Engineering.  MBA’s and/or Master’s in Real Estate are a plus, but not required if candidates demonstrate requisite work experience. Specific knowledge and exposure to Low Income Housing Tax Credits (LIHTC) and/or HUD programs is required. 

The candidate should demonstrate strong analytical abilities, quantitative problem-solving skills, excellent written communication skills, and expertise with key investing concepts, with emphasis placed on real estate financial modeling, including:

• Advanced skills in Excel modeling
• Investment underwriting and pro forma construction
• Operating cash flow projections
• Returns analyses, including discounted cash flow and sensitivity analyses
• Due Diligence processes
• Market research and data analysis
• Investment briefings and memoranda

Above all else, the candidate should demonstrate a willingness to learn rapidly and quickly tackle the variety of tasks necessary in closing affordable housing transactions:

• Leveraging one’s network and data resources both public and proprietary to source new acquisition opportunities
• Understanding the complexities of LIHTC, HUD, and state/local subsidy programs
• Reviewing and negotiating legal documents including purchase and sale contracts, joint venture agreements, financing agreements, and vendor contracts
• Understanding tax and accounting implications
• Working with Design and Construction team to develop and manage renovation projects
• Meeting with and managing communications with investors, residents, public agencies, and elected officials

In addition to transaction-specific activities, the ideal candidate will be willing to take on the following responsibilities:

• Attending regional and national conferences to expand the firm’s network of investors, JV partners, lenders, and brokers
• Collaborating across practice groups on company-wide strategic initiatives including but not limited to corporate social impact goals and adoption of internal collaboration tools and technology
• Manage complex internal and external projects
• Willingness to travel within domestic US for work for site visits

Additional Information

Salary will be commensurate with experience and qualifications. 

No Phone Calls Please.

Rose Companies COVID-19 Vaccine Message:

For the health and wellness of its workforce, those entering its workplaces, and the communities in which it operates, Rose Companies Employer (“Rose Companies”) is requiring all employees to be fully vaccinated against COVID-19, subject to reasonable accommodations for disabilities or sincerely held religious beliefs or unless otherwise prohibited by law and/or pursuant to those covered under a collective bargaining agreement.

Rose Companies Benefits:

At Rose Companies our goal is to provide an affordable and comprehensive benefits package that provides security for you and your family and supports your overall wellbeing. Benefits offered include, but are not limited to: Medical, Dental, Vision, Flexible Spending Accounts, Life, Short-Term Disability, Long-Term Disability, 401K with company match, competitive paid time off policy, paid holidays, parental bonding leave and educational assistance.

Rose Companies is committed in policy and practice to providing equal employment opportunities for all applicants and employees, based upon their training, experience, and overall qualifications. Consistent with this commitment, discrimination against an applicant or employee based upon the individual’s race, color, creed, religion, sex, gender, age, national origin, ancestry, citizenship status, marital or familial status, sexual orientation, gender identity, gender expression, disability, military status, protected veteran status, genetic information, or any other condition or characteristic protected by law is strictly prohibited.