SUMMARY

Reporting to the Director of Investments, the VP of Acquisitions owns the front end of The Town Lake Company’s acquisitions process. This role fills the deal funnel through broker relationships, cold calling, and direct sourcing, completes initial underwriting, and makes initial calls on potential deals across shallow bay industrial, retail, office, and multifamily.

PRIMARY RESPONSIBILITIES

Deal Sourcing and Pipeline

·   Keep the acquisitions funnel full by sourcing, screening, and originating commercial real estate investments across shallow bay industrial, retail, office, and multifamily

·   Serve as the company’s point person with investment sales brokers, managing day-to-day broker interactions and relationships

·   Cold call owners to uncover off-market and direct acquisition opportunities

·   Source direct deals that do not involve an operating partner

·   Lead marketing and business development efforts for acquisitions and support targeted marketing of investment properties offered for sale

·   Represent the company at industry conferences, meetings, and forums

Underwriting and Evaluation

·   Complete initial underwriting on all potential deals, including pro forma cash flow, DCF, and acquisition models, with limited support from team members, to assess whether the potential acquisition satisfies company-provided deal parameters and goals

·   Make initial go/no-go calls on potential deals based on preliminary underwriting results Structure transactions in line with internal underwriting standards and investment parameters in coordination with Director of Investments and General Counsel

·   Provide primary support to the Director of Investments for detailed underwriting and modeling complex financial structures and project cash flows under various scenarios for all potential acquisitions which have been approved by the Investment Committee for pursuit

·   Conduct market research and analyze occupancy, rental rates, demographics, competitor positioning, and economic data

·   Develop proficiency in the company’s internal financial models and underwriting tools

Due Diligence and Transaction Execution

·   Prepare offers and lead negotiation of letters of intent and purchase and sale agreements with limited oversight and approval of the Director of Investments and General Counsel

·   Lead all aspects of due diligence, including writing the business plan, analyzing the market area, reviewing tenant credit and financials, and evaluating third-party reports with the support of the investment team for all deals that have been approved for pursuit

·   Negotiate and structure all debt and equity financing arrangements in coordination with Director of Capital Markets and General Counsel

·   Own the closing process with support of key stakeholders 

·   Coordinate with internal departments throughout the acquisition process

·   Hand off acquired properties to the investment team at closing with complete deal files and underwriting

Investment Presentations and Reporting

·   Prepare internal executive summaries for investment offerings and present potential investments and due diligence findings to the Director of Investments and Investment Committee for approval  

·   Create investment packages for external fundraising, working with the Director of Capital Markets on content, financials, and positioning

·   Support the Director of Capital Market’s fundraising efforts by participating in meetings and on calls with potential investors and lenders

·   Build and communicate the “story of why” behind each acquisition

·   Prepare acquisition and strategic analysis reports that reflect current acquisition activity and market trends

·   Provide pipeline and transaction updates to senior leadership and internal stakeholders

Relationship Management

·   Build and maintain relationships with brokers, owners, investors, developers, lenders, capital market providers, and investment bankers to identify new opportunities

·   Work with corporate finance, accountants, tax advisors, and attorneys to provide analysis and move transactions forward

SKILLS

·   Advanced financial modeling and analytical skills, including due diligence, risk analysis, and financial structuring

·   Thorough understanding of commercial real estate transactions, including the strengths and challenges of different asset types including industrial, retail and office

·   Strong negotiation skills with sellers, brokers, lenders, and investors

·   Comfort with cold outreach and persistent follow-up to build a deal pipeline

·   Clear written and verbal communication with internal and external stakeholders at all levels, including the ability to explain complex financial structures in plain terms

·   Proven ability to build and maintain external relationships, with a high level of professionalism and client service

·   Excellent organization and attention to detail

·   Ability to manage multiple transactions at once, meet deadlines accurately, and work well under pressure with changing priorities

·   Proficiency in Microsoft Excel, Word, and relevant financial tools

REQUIREMENTS

·   Bachelor’s degree required; finance, business, accounting, economics degree preferred; advanced degree preferred

·   8+ years of experience in commercial real estate acquisitions including financial analysis and underwriting required; 10+ years of experience preferred

·   Proven track record of sourcing, underwriting, and closing commercial real estate acquisitions

·   Experience with complex real estate transactions and financial structuring

·   Experience with shallow bay industrial, retail, office, and/or multifamily assets preferred