Montclair, NJ
Salary Estimate: Confidential
Employment Type: Full Time
Work Place: Office
Experience Required: 2+ to 5 years
Education Required: 4 Year College
Job Description
Job Description
OVERVIEW
A Northern New Jersey-based real estate investment firm is seeking an Acquisitions Associate to support its continued growth. The firm invests capital on behalf of institutional and high-net-worth limited partners with a primary focus on value-add industrial strategies. This is an opportunity to assist in the acquisitions process from start to finish and the successful candidate will get hands-on experience working closely with the Director of Acquisitions.
The individual should be able to thrive in an environment that is highly entrepreneurial, requiring strong skills in the areas of analytics, multitasking, prioritizing and communication.
A background in real estate acquisitions / underwriting is an absolute must. It is the firm’s expectation that the candidate has had prior experience in executing in many (but not necessarily all) of the responsibilities delineated below. The position is for someone who wants to further build upon his/her scalable skills that will allow them to run a real estate acquisition from start to finish.
RESPONSIBILITIES
· Processing confidentiality agreements for potential investments
· Build and maintain financial models using ARGUS
· Forecast operating performance, financial projections, and business plan scenarios for deal specific underwriting
· Conduct market research to determine viability of underwriting assumptions
· Set up calls with local brokers to discuss market conditions
· Tour potential investments with the Director of Acquisitions
· Create initial screening memos and final investment memos which will be presented internally and to potential capital partners
· Assist in preparing Letters of Intent (“LOI”), Term Sheets, and select Venture Documents
· Help coordinate due diligence efforts with internal and external parties
· Assist in the closing process and ultimately the hand-off to the asset management team
· Build and maintain financial models using ARGUS
· Forecast operating performance, financial projections, and business plan scenarios for deal specific underwriting
· Conduct market research to determine viability of underwriting assumptions
· Set up calls with local brokers to discuss market conditions
· Tour potential investments with the Director of Acquisitions
· Create initial screening memos and final investment memos which will be presented internally and to potential capital partners
· Assist in preparing Letters of Intent (“LOI”), Term Sheets, and select Venture Documents
· Help coordinate due diligence efforts with internal and external parties
· Assist in the closing process and ultimately the hand-off to the asset management team
QUALIFICATIONS
Background
- Bachelor’s degree required with excellent academic record
- 3-5 years of experience minimum; a background in real estate acquisitions and underwriting is a must.
Software
- High level of proficiency with Microsoft Excel is required
- High level of proficiency with Argus is required
Soft Skills / Personality
- Strong critical thinking and problem-solving skills
- Must possess meticulous attention to detail and take pride in their work
- Organized and efficient, with ability to define priorities; good at figuring out the processes necessary to “get things done”
- A confident, team player who listens to internal and external input but can take decisive action
- Ability to analyze challenges and make considered decisions in a timely manner based on objectives, risks, implications and costs.
Hard Skills
- General knowledge of real estate finance, valuation, and capital markets
- Understanding of basic real estate return metrics and how to manipulate them
- Basic understanding of real estate documentation pertaining to leases, joint venture agreements, developer services agreements, term sheets, LOI’s..etc.
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