Macdonald & Company is pleased to partner with a prominent multifamily developer and investor based in Austin, TX, to identify and appoint a Vice President of Acquisitions who will help grow and scale their investment platform. This individual will lead the acquisition strategy for the group and must have a clear vision for implementing it.
The Vice President of Acquisitions (VPA) leads the company's multifamily acquisition effort. The VPA focuses on identifying and sourcing existing asset acquisition opportunities and managing the due diligence/closing process for each asset.
The VPA reports to the CEO and works collaboratively with the company's in-house teams (Construction, Property Management, Finance, Accounting). The VPA participates in the company's Investment Committee and plays a crucial role in driving business growth by providing rental housing that enriches the lives of residents, improves the communities where properties are acquired, generates returns for capital partners, and delivers profits for the company.
The VPA should be able to evaluate and assess potential acquisitions, including market research, underwriting, structuring, closing, and transaction management. The preferred candidate is someone who has a strong network of relationships throughout Texas.
Responsibilities:
Strategy & Planning:
- Maintain an understanding of the status of the industry through various activities such as periodicals, podcasts, seminars, involvement in industry association activities, and peer networking.
- Monitor markets of interest, focusing on job growth, population/household growth, infrastructure expansion, governmental policy, competitive pipeline activity, occupancies, rental rates, and product offerings.
- Anticipate future economic, industry, and market trends that may impact the company's growth objectives or expose potential risks.
- Identify opportunities for growth and expansion in market share and product offerings.
- Maintain a vision for constant growth and improvement within the company.
- Collaborate with others to formulate actionable plans aligned with the company's vision.
Collaboration:
- Work with team members coordinate and manage value-add strategies.
- Collaborate with the property management team members (Director of Management Operations, Regional Supervisors, Marketing/PR, Accounting) to align on objectives and operations.
- Participate in periodic strategic planning sessions.
Deal Sourcing/Underwriting:
- Handle high-level owner and broker communications, relationships, and negotiations.
- Work independently and collaboratively to identify and negotiate terms for new acquisitions.
- Source deals, perform financial analysis, and develop underwriting models.
- Conduct underwriting analysis, including reviewing P&L statements, rent rolls, and tax statements, as well as analyzing demographic, economic, and real estate market data to support underwriting assumptions.
- Prepare materials for internal investment committee and investment partners, including financial models and presentations.
- Conduct due diligence activities such as lease analysis, shopping market competitors, arranging third-party reports, and assisting in property-level financing.
Closing/Post-Closing Management:
- Coordinate transaction management and closing with internal teams, third-party lenders, brokers, title companies, and other stakeholders.
- Oversee the transition to management upon acquisition.
- Create and oversee the business plan with Asset Management for post-acquisition activities.
Requirements:
- Minimum of 7+ years of multifamily acquisitions experience with a real estate owner/operator, or investor.
- Bachelor's degree required.
- Self-motivated and proactive with a proven track record of working effectively and independently.
- Strong network of relationships within the Texas multifamily community.
- Proficiency in financial modeling and the Microsoft Office Suite.
- Ability to manage and train support analysts.
- Detail-oriented with exceptional analytical and organizational skills.
- Excellent interpersonal skills and a strong work ethic. Must be highly organized, flexible, and able to travel.