Posted: Sunday, February 19, 2017 10:13 AM
Broadstone Real Estate, LLC (“BRE"), a full-service real estate company that serves as the sponsor of two private real estate offerings, is seeking a Vice President of Acquisitions, Multifamily Residential, for Broadtree Home Rentals, LLC (“BTHR"). Broadtree Residential, Inc. (“Broadtree"), one of the company’s sponsored REITs, owns over 1200 residential units in four states, with the expectation that operations will continue to expand. BTHR is a wholly-owned subsidiary of BRE and serves as Broadtree’s property manager. BRE is an established real estate investment and management company that also manages more than 400 commercial properties in 37 states for Broadstone Net Lease, Inc. The Vice President of Acquisitions will originate, manage and close multifamily residential real estate acquisition transactions for Broadtree. The ideal candidate will bring experience and expertise in sourcing, underwriting and negotiating the acquisition of multifamily apartment assets. He or she will be adept at handling high-level owner and broker communications, relationships and negotiations, and will be able to work independently and in collaboration with others to achieve a very high level of success in identifying and negotiating terms for accretive transactions. This person must be exceedingly well organized, flexible and able to travel without significant notice. Requires deal sourcing, financial analysis and internet research skills. Also calls for excellent interpersonal skills, project coordination experience, and the ability to work well with all levels of internal management and staff, as well as the national brokerage and property owner community. This position reports to the COO of BTHR and can be based in Rochester, NY or the Atlanta, GA area. This is an opportunity to play a lead role in a vibrant and rapidly growing organization, with access to the resources and reputation of a successful parent company. Essential Job Duties and Responsibilities: Design and implement multifamily residential acquisition strategies to meet investment objectives Source acquisition targets and bring prospective accretive transactions to the COO for initial approval and then to the Investment Committee and Board of Directors for final approval Responsible for accurate financial models, projections, and analyses on prospective property acquisitions including property operational underwriting and return on investment modeling, either through preparation or review Prepare strategy and investment recommendations through written and oral presentations; Assist with the preparation of thorough investment and board packages Perform and coordinate full transaction due diligence, site inspections, lease abstracting, and review of financial statements Cultivate strong relationships with external commercial brokers and prospective property sellers to gain access to off-market transactions as they become available Responsible for analysis of market conditions impacting acquisition and disposition opportunities, either through compilation or review Further develop current industry relationships and proactively build new relationships and potential deal-sourcing networks in support of the acquisition and investment strategy Essential Job Duties and Responsibilities Identify national conferences and other opportunities for increasing industry exposure through attendance networking and/or participation Present at high level meetings and industry events Work with brokers to manage property dispositions Prioritize and manage multiple projects simultaneously and follow through on issues in a timely manner Continuously evaluate and improve acquisitions policies and procedures to ensure efficiency, effectiveness, and ensure sound investment decisions Additional duties as required Skills/Qualifications: Strong organizational and planning skills; Passionate about quality and accuracy Team player adept at empowering others to achieve greater results Experience in reading and evaluating environmental and property condition reports Strong understanding of financial statements and financial analysis used in underwriting and making high-level real estate investment decisions Knowledge and skill to develop, maintain and interpret financial models High proficiency in Microsoft Office applications (Word, Outlook, PowerPoint), including advanced functions in Excel Experienced information gathering and information monitoring skills Excellent verbal and written communication skills and strong presentation skills Effective decision-making skills and an ability to perform under deadline pressure Solid work ethic and a professional, proactive and positive approach to work Able to identify and resolve problems in a timely manner by gathering and analyzing information skillfully and developing alternative solutions Able to successfully prioritize and manage multiple projects, handle frequent changes effectively and professionally and follow through on issues in a timely manner Work well independently and in a team. Self-starter and independent worker, but not hesitant to ask for direction when needed Willing and able to travel when necessary, some travel may be on short notice and/or for multiple days Education/Experience: Bachelor’s degree in real estate, business or finance from a four-year accredited university required; MBA or related advanced degree preferred 5+ years of multifamily residential real estate acquisitions/underwriting experience Strong multifamily residential real estate financial modeling and analysis experience Physical Demands: Professional office environment with routine use of standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machine; noise level typical of a standard office environment Prolonged sitting, computer and telephone use, as well as standing, filing, stooping, bending, reaching and lifting and carrying up to 15 pounds Ability to travel by airplane, train and car with ability to drive a motor vehicle The above description is not intended to define, in detail, the multitude of tasks that may be assigned, but rather to provide a general sense of the responsibilities and expectations of the position. As the nature of business demands change, so too may the functions of this position.
• Location: Rochester
• Post ID: 23838533 rochester