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VP of Acquisitions & Development

Salary
$200,000-$300,000+
Employment
Full Time
Work Place
Part Remote
Real Estate Field
Location
Los Angeles
 CA
Postal Code
90073
Country
United States

This job is no longer active.

Description


Our SelectLeaders' client, BRIDGE Housing Corporation, a leading nonprofit developer of affordable homes, creates and manages a range of high-quality, affordable homes for working families and seniors. Is seeking a Vice President of Acquisitions and Development to be responsible for evaluating and assessing  potential real estate acquisitions, divestitures and development of multi-family affordable/workforce  housing. The incumbent should be able to evaluate and assess potential acquisitions including market  research, underwriting, structuring, closing and transaction management. The preferred candidate is  someone who has a strong local network in the greater Los Angeles and San Diego area and West Coast.  The position is ideally suited for a highly motivated, detail-oriented individual with an experienced  background in both market-rate and affordable multifamily housing. This individual should have the  desire to be a part of a rapidly growing non-profit organization with upward mobility, and work within a  team of other highly motivated individuals.
 

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.

Financial/Legal/Administrative

    • 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

Collaboration

    • 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.

Requirements

    • 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  
$220,000 - $250,000 bimonthly
Base salary plus performance bonus offered.

Working Conditions 
This will be in office and at property sites with some travel required. 
 
Physical Requirements 
*Sitting, standing, walking, talking, hearing, and repetitive motions 
*Move, lift, carry, push, pull, and place objects weighing less than or equal to 25 pounds without  assistance
 
Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified  applicants with arrest and conviction records. 
 
BRIDGE Housing is an Equal Opportunity Employer
 
 

Job Sector


 

Experience


7+ to 10 years


This job is no longer active.

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