Duties and Responsibilities: Sourcing of Real Estate Acquisitions
- Source, evaluate, and assess potential real estate acquisitions throughout BRIDGE’s footprint in CA, OR and WA with a focus on the Los Angeles and San Diego (Southern California) region.
- Lead the underwriting and due diligence for each transaction including financial modeling, market surveys, tenant credit analysis, broker interviews, interaction with property management personnel, and local government officials
- Effectively and efficiently manage real estate and finance transactions including site and property acquisitions, rehabilitation and financial closings
- Source and identify new joint venture partners to create relationships that will provide a consistent pipeline of suitable investment opportunities
- Compilation of due diligence information including financial, market, site, and regulatory data quality
- Ensure the highest quality product in every respect in conformance with BRIDGE’s commitment to the physical, financial, operational health and quality of homes for its residents.
- Provide recommendations and analysis that will inform the organization’s investment decisions
- Underwrite acquisition opportunities including financial modeling, analysis of market data/comparable sales, preparation of market summaries and negotiations of LOIs and purchase and sale agreements
- Evaluate existing complex partnership agreements and cash flow waterfalls; identify and coordinate with capital markets group for all debt, equity and soft sources of finance to ensure feasibility
- Validation and defense of budgets, assumptions, and pro-forma analysis• Manage project costs throughout the budgeting process for rehabilitation and/or development projects.
- Document loan and partnership terms and obligations
- Completion of applications and documentation necessary for debt and equity financing, property purchase and sale, and government subsidy renewal.
- Work with legal counsel in the preparation and negotiation of purchase and sale agreements, partnership agreements and related legal documentation necessary to complete transactions
- Manage the preparation and presentation of Internal Committee, and Project’s Committee (Board Committee) presentations for all acquisitions
- Collaborate with other members of the Business Development, and Regional developmentTeam, and internal functions including; Property Management, Asset Management, Capital Markets Group, Legal and Corporate Finance.
- Collaborate with outside consultants, brokers, contractors and other allied professionals.
- Strong academic background with Bachelor’ Degree or equivalent degree in multi-family home real estate acquisitions, business, real estate, architecture, planning, or finance; advanced degree preferred
- 10+ years of experience and a demonstrated track record of success in real estate acquisitions, divestitures, and development
- Real estate development experience with emphasis on affordable and mixed-income housing. Experience in Los Angeles area desirable
- Excellent problem solving and creative skills with the ability to exercise sound judgment to make decisions based on accurate and timely information
- Experience reviewing and negotiating legal documents
- Strong quantitative, financial analysis and modeling (excel) skills
- Strong sense of urgency and detail with results-driven orientation
- Strong project management skills and follow-through.
- Exceptional research, writing abilities written and verbal communications skills
- Ability to multi-task and prioritize appropriately in a constantly changing environment and act with a sense of urgency, accountability and exceptional attention to detail and sound judgment.
- Experience in GP buy-outs in LIHTC structures desirable
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