AVP Structured Equity Investments
Employment Type : Full-Time
Overview: The Assistant Vice President, Structured Equity Investments sources, analyzes, underwrites and structures joint venture real estate development investments on behalf of Western & Southern Financial Group. This individual will play a crucial role in the development of Eagle Realty Group’s investment strategies across a variety of asset classes and geographic regions. Ultimately, through this individual’s efforts and expertise, Eagle Realty Group expects to substantially and proactively grow its portfolio of joint venture real estate development investments with well-established national, regional and local-area developers.
In this role, the Assistant Vice President will be responsible for three primary functions:- Source new investment opportunities in their assigned markets and develop relationships with local brokers, developers, and operators
- Underwrite, perform due diligence on and negotiate joint venture real estate development investments
- Prepare investment recommendations for the Investment Committee
Responsibilities: Position Responsibilities:
Source new investment opportunities in assigned markets and develop relationships with local brokers, developers, and operators- Assist senior management in identifying market and investment strategies. Actively and creatively source deals that fit within the company’s investment parameters
- Source new joint venture opportunities through a variety of means including networking with 3rd party intermediaries, property owners, developers
- Develop a strong understanding of the real estate markets and communities in specified target markets and property types, including trends (both real estate and general economic), activities, significant developments and major players including developers, brokers and property owners
- Travel to target markets to solidify relationships, tour assets and gather intelligence on prospective investment opportunities – become known and seen in these markets
- Underwrite, perform due diligence on and negotiate joint venture real estate development investments
- Perform financial due diligence to ensure transactions are consistent with the Investment Management area’s investment guidelines
- Manage the deal making timeline and serve as a control point for each transaction sourced, including negotiations, due diligence and closing
- Oversee all due diligence activities, processes and documentation for all acquisitions
- Negotiate term sheets and operating agreements with joint venture developer partners
- Analyze market comps, location, demographics of properties to confirm underwriting assumptions
- Underwrite cash flows for new investment opportunities including joint venture equity structuring and performance metrics - IRRs, multiple on equity, cash-on-cash, etc.
- Oversee the proper transition of the investment to the Asset Management and Financial Management groups upon closing
- Prepare investment recommendations for the Investment Committee
- Prepare Investment Memos and present the final recommendation to the Investment Committee
- Collaborate with the VP and Director Structured Equity Investments to establish and maintain templates related to the documentation and management of the joint venture real estate development investment process
Qualifications: Selection Criteria:
Must possess specific knowledge of and significant experience in the real estate underwriting, due diligence and development process in multiple commercial real estate asset classes. Prior experience in the institutional real estate investment management is required. This is a fast-paced and team-oriented environment, where priorities can change frequently and deadlines are often under significant time pressure. Relationship building, a self-starter attitude, project and time management discipline, and strong communication as well as critical thinking skills are required to be successful in this position.
- At least 5 years of applicable experience in the real estate investment management industry
- Demonstrated experience mentoring more junior investment professionals is desirable
- Proven experience developing successful, long-term relationships with developers on a national and regional basis
- Provide examples from work experience demonstrating extensive experience of the specific knowledge requirements discussed above
- Advanced knowledge of the development entitlement processes, design, permitting, construction, lease-up and management
- Must possess direct experience in negotiating joint venture agreements, GMP construction contracts and construction loan documents.
- Possess and display superb analytical skills as demonstrated by knowledge and proven ability in the use and application of discounted cash flow analysis to establish property values and determine optimal holding periods. Can provide examples from work experience of the use of such skills.
- Must provide extensive examples from work experience of ability to effectively negotiate complex real estate-related contracts with developers.
Educational Requirements:
- BA/BS in Accounting, Finance or Economics or related field
- MBA or Masters in Real Estate preferred
Computer skills and knowledge of hardware & software required:
- Advanced knowledge in MS Excel
- Proficient in MS Word and PowerPoint (m)
- Proficient in Argus