As the Casoro Group is rapidly growing, in structure, number, and units, we are looking to make a strategic hire on our acquisitions team. The VP of Acquisitions role reports directly to the CIO and serves as the eyes and ears on all matters of the multifamily acquisitions process.
This leader will have a huge impact on the strategic direction and leadership of our company for 2020 and beyond. Through your experience with sourcing deals, debt and equity underwriting, and controlling and organizing the entire due diligence process, you will be working in cohort with the CIO to build the company’s AUM for 2020.
Salary is commensurate with experience.
About Casoro Group
Casoro Group is an active commercial real estate private equity firm with a proven track record of acquisitions and portfolio management. We have acquired over $1.5 billion of multifamily and currently own or manage over 4,000 units. We recognize the importance of our ability to close, and have established strong relationships with multiple equity and debt providers, giving us the ability to reliably fund our acquisitions.
Our in-house asset management, property management, construction, finance group, and outside legal counsel provides us the ability to efficiently perform due diligence and effectively manage the closing process. We are up-front and professional in our dealings and are committed to maintaining a high level of integrity in all business dealings.
Role
Lead the market research, sourcing, underwriting, vetting, diligence, and transaction execution of investment opportunities for Casoro Group.
Responsibilities
A successful Vice President of Acquisitions
- Manages the sourcing of new on and off-market acquisition opportunities through networking with brokers and owners, cold calling/email, direct mail, door knocking and other prospecting methods.
- Manages the acquisitions pipeline and delivers periodic status updates to senior executives.
- Leads the market analysis, budget creation, project scope, and return on investment modeling for each asset from acquisition through exit including.
- Owns the entire due diligence process from conducting in-person and market tours when appropriate, to underwriting, preparing the business plan, pre-closing, closing and inter-departmental post-closing transition efforts.
- Consistently incorporates feedback from local market data, financial statements, third party reports, title/survey, leases, vendor contracts etc., into the financial underwriting.
- Works closely with the Operations, Asset Management and Construction teams to prepare the value-add business plan, operating budget, define renovation scope and finish level which will optimize each asset’s return profile.
- Provides direct support to the CIO in raising debt and equity capital as well as reviewing and negotiating key transaction, partnership, lender documents and coordinating lender/investor tours and inspections.
- Builds and update flexible financial models as needed with capabilities to run sensitivity analyses, joint venture cash flows with various promote structures, and various debt, mezzanine and preferred equity capital structures.
- Authors concise, informative and accurate investment memorandums and loan packages, giving investors a complete and accurate picture of the economics underlying proposed transactions.
- Is a skilled “jack-of-all-trades” that can rally other departments (Asset Management, Property Management, Acquisitions, Accounting, HR, Marketing, Outside Investors and Financial Partners) to get deals to the finish line.
- Sets the performance bar as a leader and influencer that other team members will want to emulate.
- Supports the acquisition of 2,000 multifamily units by December 2020.
You should probably have….
1. High real estate investment acumen backed by 3 to 5 years of real estate private equity, acquisitions, or relevant transaction-oriented real estate experience. Multifamily experience preferred.
2. Experience working for investment banks, private equity firms, large real estate developers, real estate consulting organizations, or similar entities.
3. Bachelor’s Degree in business, finance, or real estate. Master’s in Business/Real Estate preferred.
4. Capital markets knowledge and the aptitude to evaluate multiple financing and equity structures, and multiple types of real estate documents.
5. Advanced proficiency in Excel financial modeling. Prior experience modeling complex asset-level and / or entity-level real estate transactions, waterfalls, sensitivities, etc.
6. Analytical thinker with the proven ability to understand a complex situation and build a financial model to calculate the impact of various drivers/variables. Thinks critically and draws well-reasoned conclusions
7. Must be self-motivated and act with a sense of urgency.
8. Must be able to prioritize tasks and work under pressure.
9. Must be extremely detail oriented.
10. Must have high integrity and value fiduciary responsibility.
11. Must have excellent interpersonal communication skills both, verbal and written and be known as a “people person”. Advanced presentation and writing skills, with the ability to communicate both high-level and detailed aspects of an acquisition in clear, concise language.
12. Ability to travel up to 50%
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