Acquisitions Associate Director (Development)

Job Description

Who We Are

Core Spaces is a vertically integrated company focused on acquiring, developing, and managing residential properties that create a better life for everyone under our roof. From world-class amenities and progressive design to client service with a hospitality-driven approach, we create spaces where people want to be.  Core Spaces is proud to be a People-First organization and our culture is our greatest asset. Our six cultural values guide us every day and we strive to live them in everything we do:  PUSH (Invent Better Places to Live), GRIT (We Got This), LIFT (Help Each Other Win), SHINE (Bring Your Full Self), UPHOLD (Never Break Trust), GROW (Always Get Better).

What We Do

Core Spaces provides living spaces and services that create a better daily life for its residents. Our projects are thoughtfully designed, customized, developed, and managed to create extraordinary lifestyle experiences that are as unique as their respective markets. Since our founding in 2010, Core has consistently delivered award-winning developments in top markets across the country. We currently own and/or manage 46 properties nationwide totaling over 26,000 beds and have a pipeline of over 40,000 student housing beds and 8,000 Conventional/Build to Rent units in various stages of development or acquisition. For more information, check us out at www.corespaces.com.

Benefits That Matter

•  A culture that provides you a sense of belonging
• Hybrid work options to promote work-life balance
• Competitive pay that values your contributions
• Annual incentive to reward your achievements
• Paid unlimited PTO to disconnect or celebrate life milestones
• Paid 16 holidays, including your birthday, to disconnect and celebrate
• Paid Volunteer time off to give back to your community 
• Paid Family Leave Plan that begins after 90 days
• Monthly workshop weeks; less meetings & more collaboration
• Robust health plan options that begin within at least 30 days of your employment
• Monthly phone reimbursement
• Wellness allowance and perks, including a yearly subscription to a meditation app
• An environment that provides you a voice to share your perspectives
• Employee Assistance Program (EAP) for access to confidential support services       
• Company retirement options including 401(k) + matching & Roth account option

Position Overview

The Acquisitions Associate Director (Development) works within the land-sourcing vertical of the Acquisition Team to assist in the evaluation of new purpose-built student housing development opportunities across the country.  Primary responsibilities include sourcing development sites, financial modeling, transaction management, preparation of investment memoranda, and negotiation of legal documents.

What You Will Do

• Screen prospective acquisition opportunities based on the company's investment criteria
• Source new opportunities and building relationships with land owners
• Develop underwriting models and perform detailed financial analysis of acquisition targets, including analysis of historical financial statements and preparation of cash flow projections
• Lead the due diligence and closing process and manage internal and external communication
• Prepare comprehensive investment memoranda recommending actions to the firm's investment committee and external equity partners
• Draft Letters of Intent and assist review and negotiation of Purchase and Sale Agreements
• Occasional travel will be necessary as needed (est. up to 50%)
• Perform all other duties and tasks as assigned by management
• Must be able to complete all physical requirements of this role with or without a reasonable accommodation
• Occasional travel may be necessary as needed
• Perform all other duties and tasks as assigned by management
• Must be able to complete all physical requirements of this role with or without a reasonable accommodation

Ideally, you'll have

• 4+ years of relevant experience in a real estate investing, lending, or brokerage role
• High degree of proficiency in real estate financial modeling
• Strong written and verbal communication skills
• Excel and Microsoft Office Suite experience

You'll crush it if you have experience with

• Interacting with external counterparties (e.g., brokers, sellers, lenders, partners)
• Negotiating legal documents (letter of intent, purchase agreement, etc.)
• Strong written and verbal communication skills
• Ability to work independently and react quickly in a demanding fast-paced environment
• Ability to manage multiple projects at one time, balance priorities and deadlines

Organizational Structure

Reports to: Managing Director, Acquisitions

Direct Reports: Associate, Acquisitions (Development)

As an Equal Opportunity Employer, Core Spaces celebrates diversity and is committed to creating an equitable and inclusive environment, which creates a sense of belonging for all employees. We do not discriminate and believe every individual should be proud of who they are and the community they represent.