Acquisitions and Asset Management Associate

Job Description

Acquisitions and Asset Management Associate

A fast-growing multifamily investment firm focusing on acquisitions of 150+ unit apartment complexes in Texas is seeking a full-time Acquisitions and Asset Management Associate. The firm has ~$300mm in AUM and has acquired ~1,400 units in Houston. This is an excellent opportunity to work closely with the firm’s founder, assume significant responsibilities, and make a pivotal impact on the continued expansion of the business. The position will be remote; TX applicants are preferred but others will be also seriously considered.

Responsibilities:

• Screen, assess, and underwrite multifamily investment opportunities
• Submit LOIs on potential acquisitions
• Point of contact for due diligence and debt financing for acquisitions
• Support the closing process
• Develop, maintain, and analyze comprehensive financial models, integrating both historical and proforma information, evaluate ongoing operating performance of the assets relative to underwriting and perform sensitivity analysis based on various scenarios
• Creating and sending out monthly investor letters
• Review monthly property management reports
• Interface with brokers, JV partners, attorneys, lenders, property managers, and other market participants
• Communicate with third party property management as well as insurance and real estate tax consultants and other third-party providers as needed
• Assist with lender reporting, participate on lender calls
• Prepare lender draw requests, reserve release requests
• Track loan covenants and interest rate cap replacement requirements
• Oversee renovations and CapX projects at existing properties
• Assist in the development of annual budgets on a property-by-property basis, including revenue assumptions and expense analysis
• Contribute to the firm's due diligence efforts on potential investments and asset dispositions
• Create financial models tracking distributions
• Ad hoc projects and analysis, as needed

 Qualifications and Desired Skills:

• Bachelor’s degree from a four-year university in real estate, finance, accounting, or related field of study
• 4-5 years of experience with a commercial real estate firm, preferably with a focus on multifamily
• Proficiency in Microsoft Word, Excel, and Outlook required
• Proficient with multifamily PMS (OneSite, Yardi)
• Exceptional verbal and written communication skills
• Strong interpersonal skills and ability to develop and foster industry relationships
• High levels of organization and keen attention to detail
• Working knowledge of real estate valuation and financial modeling
• Ability to read and interpret property financial statements including income statements and balance sheets
• Entrepreneurial spirit who works well autonomously
• Ability to travel for site visits and property tours as needed

Compensation:

• Competitive salary based on commensurate experience – base salary + bonus
• Position will start as 1099 for the first three-six months and then convert to a W2 role
• 15 Days PTO and paid national holidays
• Health insurance allowance (monthly stipend)
• Entrepreneurial work environment – playing an integral role in shaping the company’s growth and direction