Beverly Hills, CA
Salary Estimate: Confidential
Employment Type: Full Time
Work Place: Office
Experience Required: 5+ to 7 years
Education Required: 4 Year College
Job Description
About Open Industrial
Open Industrial is a real estate investment company established in 2020 with offices in Bethesda, MD and Los Angeles, CA. We are focused on acquiring Industrial Outdoor Storage (IOS) assets that have mission critical outdoor storage components. The properties we acquire are an essential part of the economic fabric for major metropolitan markets.
About the Position
We’re currently seeking a Director of Acquisitions to lead investments in IOS real estate opportunities throughout our primary and expansion markets. The Director of Acquisitions will establish relationships with specialized brokers and owners of IOS properties. The ideal candidate will negotiate key aspects of each deal, from the initial offer through underwriting, contract, due diligence, and closing. This person will manage multiple real estate opportunities simultaneously, so they must be organized and have strong attention to detail. This role is the perfect opportunity for a seasoned real estate executive who wants to work for an innovative company that is well-positioned for growth. This is a full-time position in our Los Angeles office that will report to the Director of Investments.
What you’ll do in this role
- Source IOS opportunities through industry brokers and owner outreach
- Prepare investment memos and financial models for deal committee approval
- Collaborate internally with acquisitions team on all opportunities
- Negotiate with key deal contacts, including legal counsel to close deals
- Leverage internal deal software to collect and collaborate on critical data points
- Collect detailed sale and lease comps for niche IOS assets
- Track tenants that are in the market for expansion space
- Keep up with current market trends and create opportunities from economic drivers
- Manage a high volume of real estate transactions simultaneously
What we’re looking for you to have
- BS/BA degree in business administration, finance, or related field
- 6+ years of experience in Industrial real estate acquisitions
- Established relationships with industry brokers and operators
- Strong understanding of the various IOS tenant requirements
- Ability to independently underwrite deals
- Experience navigating complex deals
- Strong understanding of site development and environmental risk management
- Self-motivation along with excellent time management skills
Compensation & Benefits
- Competitive annual compensation commensurate with experience
- Eligible for carried interest and bonuses based on deals closed
- Group Health Insurance
- 401k Retirement Program
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