Washington, DC
Salary Estimate: $185,000.00 - $225,000.00
Employment Type: Full Time
Work Place: Office
Experience Required: 7+ to 10 years
Education Required: 4 Year College
Job Description
About PRP Real Assets
PRP Real Assets is a national real estate investment management and development firm with over $6 billion in investments across 60+ assets since our founding in 2005. Located in Washington, D.C., PRP focuses on three strategic verticals: Mission-Critical Assets, Multifamily, and Special Situations. Our disciplined, research-driven approach and proven ability to navigate market cycles have established us as a trusted partner to institutional investors, family offices, and financial institutions.
Our Multifamily platform targets value-add properties in high-growth metropolitan areas with strong economic and demographic fundamentals. We create value through targeted renovations, operational improvements, and resident-focused enhancements that drive superior returns for our investors and exceptional experiences for residents. PRP maintains a focused hands-on approach to asset management combined with deep capital markets expertise.
The Opportunity
We are seeking an exceptional Senior Manager / Director of Acquisitions to join our growing Multifamily team and play a pivotal role in expanding the national portfolio. This is a unique opportunity to join an established, yet entrepreneurial platform offering meaningful autonomy, direct access to senior leadership, and the ability to shape market strategy.
Reporting to the Chief Investment Officer, this role will help to lead sourcing, underwriting, and execution of value-add multifamily acquisitions from $20M to $250M+ in transaction size. You will work collaboratively with our asset management, property management, capital markets, and executive teams to identify compelling investment opportunities and execute strategic business plans that create long-term value.
Key Responsibilities
Deal Sourcing & Origination
• Develop and maintain robust relationships with brokers, owners, developers, and other market participants to generate proprietary deal flow
• Identify target markets and assets that align with PRP's investment criteria and strategic objectives
• Conduct comprehensive market research and submarket analysis to evaluate investment opportunities in high-growth MSAs
Underwriting & Financial Analysis
• Lead the underwriting process for potential acquisitions, including detailed financial modeling, rent and comp analysis, demographic studies, and capital improvement budgeting
• Prepare investment memoranda and presentations for internal Investment Committee review and approval
• Develop renovation strategies and business plans that optimize value creation while managing risk
• Evaluate capital structures and work closely with our capital markets team to structure optimal debt and equity solutions
Transaction Execution
• Negotiate Letters of Intent (LOIs), purchase and sale agreements, and other transaction documents
• Manage the due diligence process, coordinating with third-party consultants, legal counsel, lenders, and internal teams
• Oversee the closing process and ensure smooth transition to asset management and property management teams
Strategic Leadership
• Contribute to the development and refinement of PRP's multifamily acquisition strategy
• Track market trends, competitive dynamics, and investment performance to inform strategic decision-making
• Mentor and develop junior team members as the platform continues to scale
• Represent PRP Real Assets at industry conferences and networking events
Qualifications
Required
• 7-12 years of total work experience, with 6-10 years directly focused on multifamily real estate in acquisitions, development, investment management, or related roles
• Proven track record of sourcing and closing multifamily transactions, with at least $500M+ in closed transaction volume
• Strong financial modeling and underwriting capabilities, with advanced Excel proficiency
• Deep understanding of multifamily property fundamentals, including operating expenses, capital improvements, value-add strategies, and market dynamics
• Excellent negotiation skills and experience structuring complex real estate transactions
• Bachelor's degree in Real Estate, Finance, Business, or related field
Strongly Preferred
• Experience in value-add multifamily acquisition strategies (B/C class properties, renovation programs, operational improvements)
• Established relationships with brokers and market participants in target growth markets (Southeast, Southwest, Mid-Atlantic, Midwest)
• Experience working with institutional capital sources and understanding of fund structures
• Knowledge of Fannie Mae, Freddie Mac, FHA, and commercial debt products
• MBA, MRED, or relevant graduate degree
• CCIM or similar industry certifications
Personal Attributes
• Entrepreneurial mindset with the ability to work independently and take ownership of results
• Collaborative team player who thrives in a collegial, high-performance environment
• Strong work ethic and commitment to excellence
• Excellent communication skills, both written and verbal, with the ability to present complex information clearly to senior leadership and investment committees
• Analytical rigor combined with practical, execution-oriented judgment
• Integrity and professionalism that reflects PRP's values and culture
• Ability to travel as needed (approximately 25-40% depending on deal activity)
What We Offer
• Competitive base salary commensurate with experience ($185,000 - $225,000 candidate dependent)
• Performance-based bonus tied to individual and firm performance
• Carried interest participation in select investments, providing meaningful alignment with long-term value creation
• Comprehensive benefits package including medical, dental, vision, 401(k) with company match
• Professional development opportunities and support for continuing education and industry certifications
• Collaborative culture with a lean, entrepreneurial team where your work directly impacts firm success
• Exposure to senior leadership with opportunities to learn from experienced real estate professionals across all asset classes
Location
This position is based in Washington, DC. Candidates must be able to work full-time from our DC office regularly and travel to markets for property tours, broker meetings, and deal execution.
How to Apply
Please submit your resume and a cover letter outlining your multifamily acquisitions experience and interest in PRP Real Assets to recruiting@prprei.com. In your cover letter, please include:
• Summary of your multifamily transaction experience (number of deals, total volume, types of deals)
• Geographic markets where you have the strongest relationships and expertise
• Why you are interested in joining PRP Real Assets at this stage of your career
PRP Real Assets
• 1-100 employees
As process-oriented investors, we focus on the fundamentals of real estate investing. On the asset level, our investment strategies are specifically tailored and structured to deliver success irrespective of market conditions and economic cycles. Through a detailed risk assessment and rigorous due diligence of every opportunity, we implement a twin focus: physically modernizing properties while improving operations through new management and leasing initiatives. We utilize the most appropriate capital structures at acquisition, tailoring terms and durations to suit the specific need of each project — with a leverage target of 65% of total project costs. Our unfettered access to the capital markets and deep relationships with lenders and institutional investors, ensures that we achieve the lowest cost of capital available in the industry.
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