Senior Vice President, Investments East

Job Description

The SVP, Investments East is responsible for overseeing and leading the overall analysis, underwriting, and market expertise for new and existing investments in the New York City MSA, Washington, DC MSA, and the Boston, MA MSA.  

Who you are:

You have an excellent understanding of the markets, operations, economics, and marketing/positioning of apartment properties. You can source investments as well as execute transactions and develop business plans. It’s important to you to spend a significant amount of time reviewing markets and properties and meeting face to face with property owners, brokers, and others.

Others consider you a strong leader, and the importance you place on building relationships is a big part of that. You have a proven record of establishing and maintaining relationships with property owners, brokers, and attorneys in target markets. A keen attention to detail, and efficient and effective decision making are key to your success. You’re a pro at communicating on and off the page, and your presentation skills are unparalleled.

What you’ll do:

• This position functions as the Eastern Regional Investments Team Leader and works closely with the Development, Asset Management, Capital Markets, Investor Relations, and Research Departments to execute on the Company and Fund Investment Strategies, which include:
  • Leading Investment Professionals in each market on creating and implementing market strategies for the New York City MSA, Washington DC MSA and the Boston, MA MSA
  • Researching target submarkets and identifying areas within each that meet the company’s acquisition criteria
  • Applying an understanding of market drivers, supply/demand fundamentals, employment growth and other factors to design the overall strategy and identify specific opportunities for the company and its investment partners
  • Overseeing and completing analysis for investments and development pursuits, including sales comparables, asset competitor sets, rental comparables and market reports
  • Working with the Development Team and Carmel’s research resources on in-depth market research reports
• Responsible for overseeing and executing all aspects of the acquisition pursuit process and transactions in New York City MSA, Washington DC MSA and Boston MSA which includes:
  • Sourcing existing property acquisition opportunities and developing/maintaining a list of target properties throughout the markets for multi-family acquisition opportunities
  • Sourcing new development (land acquisition) opportunities in conjunction with Regional Development Professionals
  • Developing and Managing financial assessment and acquisition proformas
  • Leading the negotiation of letters of intent, and purchase and sale agreements
  • Overseeing and helping coordinate all due diligence efforts (including coordination of all internal and external consultants)
  • Developing business plans in conjunction with Asset Management and other Investments Market Leaders for new investment opportunities
  • Overseeing and Authoring investment memos and preparing presentations for the Investment Committee
  • Coordinating the preparation of the closing/settlement process
• Responsible for overseeing and executing all aspects of the asset disposition process in New York City MSA, Washington DC MSA and Boston MSA with the Market Investments Team Members, which includes:
  • Annual asset evaluation and underwriting as well as investment committee disposition recommendations
  • Coordinating with asset management and third parties/partners, as applicable, on operations and capital projects for assets in the disposition queue
  • Managing the brokerage/marketing team relationship and process including BOV solicitation, review and team selection, marketing strategy, OM preparation coordination and marketing launch
  • Overseeing the marketing and transaction processes including tours and bidding, leading contract negotiations, and coordinating due diligence and closing
• Participating in and helping to execute on existing portfolio and fund level analysis and discussions for assets in New York City MSA, Washington DC MSA and Boston MSA
• Guiding the Investments Team as the senior leader on complex transactions and business plan execution
• Supporting the Head of Investments and SVP, Investments West on the formation, implementation and management of the National JV/Co-Investor Program
• Directly calling on, and developing relationships with, owners of apartment properties, brokers specializing in the apartment sector, competitors, management companies, relevant government officials, data providers, title company representatives, and others 

Managing others:

• Hire, coach, develop and lead the Investments Professionals in the Eastern US markets
• Hire, manage and direct the career development of direct reports
• Ensure direct reports have the appropriate technical skills, tools and facilities to competently perform their roles
• Ensure appropriate performance management of direct reports 

What you’ll bring:

• Undergraduate degree in Business or Finance is required, an MBA or other related graduate degree is preferred, but not required
• Minimum 10 years professional experience in commercial real estate with at least the last 7–8 years as an investment professional in multifamily sector in multiple geographies
• Minimum of 5 years of professional management experience of investment team and/or analyst teams
• Known track record of sourcing or working on off-market transactions
• Strong understanding of the New York, Washington DC and Boston Markets
• Strong existing network among target market apartment property owners, brokers, and consultants
• Strong working knowledge of real estate investment and real estate principles and practices