Director, Acquisitions

Enterprise Community Partners   •  

Portland, OR

Industry: Government & Non-Profit

  •  

5 - 7 years

Posted 41 days ago


Job Summary

Enterprise is searching for a Director, Acquisitions to join its Conventional Equity team. The Conventional Equity team manages conventional real estate equity funds, through which Enterprise joint ventures withreal estate operators to acquire, improve and create value in affordable, workforce and market rate multifamily real estate, nationally. The Director of Acquisitions will be part of a business team that is composed of a Vice President, Senior Director, Investment Manager, and Analysts. The Director of Acquisitions will lead business development efforts to forge and maintain relationships with joint venture real estate developers, acquirers, and operators, and work to identify potential multifamily acquisitions that meet the economic and social objectives, as well as underwriting guidelines and credit standards of Enterprise’s conventional equity real estate funds. Candidate must have a multifamily real estate acquisition and finance background, knowledge of joint-venture and real estate equity structures, and possess strong financial, analytical, management and interpersonal skills. We are a seeking a driven and experienced real estate professional with exceptional leadership skills who will prosper in a fast-paced, entrepreneurial atmosphere and is able to balance the financial and social mission goals of the business.


We are hiring for 1 position which can be located in either of the following markets: Portland, OR; Denver, CO; San Francisco, CA; Seattle, WA, New York, NY or Chicago IL.Job Responsibilities

  • Build and maintain relationships with real estate developers, acquirers, and operators (project sponsors).
  • Originate affordable, market affordable and workforce multifamily acquisitions financed with traditional permanent financing and joint venture equity, across the country.
  • Effectively manage multiple projects, and internal and external relationships, expectations, requests, etc., while exercising intensive attention to detail, good judgment and compliance with theconventional equity funds’ purpose and criteria, and Company policies and procedures.
  • Perform financial projections and evaluate potential investments, including the financial return on investment, preservation of affordability, asset quality and condition, joint venture sponsorship strength, investment business plans and objectives, and review of standard real estate due diligence (market studies, appraisals, environmental reports, property condition reports, zoning, title, etc).
  • Coordinate with the Conventional Equity business and underwriting team to prepare submissions to internal Deal Screening and Investment Committee, assist with overseeing investment closings withdevelopers, attorneys, and internal underwriting, Credit and Asset Management teams.
  • Identify and see through the closings of transactions that amount to $50-$100 million in Enterprise equity, comprised of approximately 6-15 transactions.

    Functional/Technical Skills

  • Directly-related experience in multifamily real estate originations and acquisitions, financing, underwriting and development is required.
  • Strong knowledge of affordable housing programs (e.g. Low-Income Housing Tax Credit financing, Section 8 rental subsidy, tax abatements & exemptions).
  • Thorough knowledge of underwriting and due diligence standards, and experience applying this background to identify and resolve problems and make investment recommendations.
  • Ability to evaluate risk pertaining to residential real estate markets, project marketability, sponsorship qualifications and financial capacity, property management, operating budgets, and social service plans.
  • Experience reviewing transactional due diligence, including financial, organizational, and real estate documents.
  • Strong financial and analytical skills, relationship management skills and writing skills.
  • Strong negotiation skills and demonstrated skill in making decisions with varying amounts of information available.
  • Ability to market confidently and effectively to potential joint venture partners, brokers, lenders, attorneys, consultants and to work effectively with client organizations, and within the Enterprise organization.
  • Ability to develop new business prospects is required.
  • Strong organization skills and ability to coordinate complex activities, prioritize conflicting demands and meet deadlines.
  • Must be highly motivated and be able to work independently.
  • Must demonstrate strong ethics and commitment to Company values in interpersonal relations and work as an effective, collaborative team member.
  • Extensive travel (25-50%) is required.
  • Ability to work evening and weekend h ours during peak periods.

Qualifications

  • Must have 5-10 years of experience in originations and acquisitions, business development, and underwriting and closing multifamily transactions.
  • Bachelor’s Degree required; Master’s Degree in Business Administration, City and Regional Planning, Finance, Real Estate or other related field preferred.
  • Extensive Microsoft Excel modeling skills required.
  • Strong communication skills, ability to work cooperatively with coworkers, joint venture partners, third party consultants, legal counsel, Credit, Asset Management and other stakeholders.
  • Capacity to balance competing interests, and attention to detail matched with an ability to place such detail into a broader perspective.
  • Must have a record of high integrity and strong ethics.

Physical Demands/Working Conditions

  • Ability to work under stress/pressure.
  • Ability to travel for flights up to 6 hours, or in automobile, or train.
  • Ability to climb stairs offsite at project sites.
  • When visiting project sites, incumbent may be exposed to varying environmental conditions (e.g. outdoor weather, dirt, dust, and other construction work site hazards).
  • Valid driver’s license required.

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