Senior Associate of Acquisitions
Avesta Communities – Tampa, FL
The SA may manage analyst(s) and/or associate(s) to underwrite and evaluate each new opportunity to determine whether the investment meets certain key criteria. The SA and team will then be responsible for the formation of the asset-level business plan, which may include value-add repositioning and other opportunistic strategies. The SA is responsible for coordinating the presentation to the investment committee. The SA will run or coordinate all aspects of the investment, including assisting with debt placement, transaction management, property management hand-off, and construction management arrangement, from initial sourcing to underwriting through the initial repositioning period.
Responsibilities:
Source and underwrite potential acquisitions, consider all comparable properties, develop initial business plan for rents, capital improvements, and operational changes
Present to the Investment Committee
Work directly with senior executives to continually refine investment strategy
Work with financing team to source, quote, and place project-level financing
Negotiate directly with sellers and brokers to secure acquisitions on best possible terms
Develop detailed business plans for investment committee approval including the modeling of financial projections with detailed capital and operating budgets
Underwrite and perform due diligence for multifamily apartments in a number of strategically selected markets
Lead interactions with in-house operating company executives to manage the real estate investment process, including monitoring construction draws and change orders and the execution of acquisition and renovation/development plans
Develop annual operating and capital budgets with the operations team
Provide leadership to help build and develop analysts and associates on the acquisitions team
Supervisory Responsibility
The SA may be responsible for and supervise the investment analysis, leading a team of analysts to underwrite and evaluate many opportunities
Supervisory Controls
The SA reports directly to the Managing Director for Acquisitions who outlines the acquisition criteria
Success is evaluated primarily on the success of the team to accurately and quickly underwrite prospective deals in a clear, transparent way that serves our investment committee and investors well and then to execute on those deals to close them quickly, reliably, with well-managed risk, with a smooth takeover and repositioning.
Qualifications:
Substantive analytical real estate acquisitions experience (3+ yrs in associate or higher role in Florida or Texas preferred), such as:
Real estate private equity investment associate or higher
Investment banking associate or higher
Real estate acquisition underwriting experience
Leadership experience to demonstrate ability to manage a team of investment analysts
Excellent quantitative, analytical, and problem solving skills
Strong interpersonal and management skills
Proven management ability in an analytical role preferred
Able to approach problems both logically and creatively
Excellent organizational and strategic planning skills
Excellent verbal and written communication skills
Ability to create financial models is essential
Ability to perform multiple assignments without immediate supervision is necessary
Understanding of multifamily underwriting to include renovation and construction strategies.
