Job Information
Friedman Management Company Director of Acquisitions, Multi-Family Commercial Real Estate in Farmington Hills, Michigan
Director of Acquisitions, Multi-Family Commercial Real Estate
Job Details
Level
Senior
Job Location
Corporate Office - Farmington Hills - Farmington Hills, MI
Position Type
Full Time
Education Level
4 Year Degree
Job Category
Real Estate
Description
If you possess dynamic leadership capabilities and outstanding analytical and interpersonal skills, consider a career opportunity with Friedman Real Estate as a Director of Acquisitions, Multi-Family Commercial Real Estate.
Friedman Real Estate is one of the nation’s largest commercial real estate organizations. We currently manage 140 commercial properties and over 11,000 apartment homes located throughout the country. We also provide commercial brokerage, construction and design, asset management, facilities management and investment and loan sale advisory services to a vast array of institutional and private owners.
The Director of Acquisitions, Multi-Family will originate, manage and close multi-family real estate acquisition transactions for Friedman Real Estate. The ideal candidate will bring experience and expertise in sourcing, underwriting and negotiating the acquisition of multi-family 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 modeling capabilities, and internet research skills. 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 are required. This position reports to the President and COO of Friedman Real Estate and can be based in Farmington Hills, MI (Headquarters) but can be remote or hybrid for the right candidate. 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 that currently manages over 15,000 multi-family units.
Position responsibilities include, but are not limited to:
Weekly updates (via pipeline reports) for the Acquisitions Team and Investment Committee
Design and implement multi-family residential acquisition strategies to meet investment objectives
Source acquisition targets and bring prospective accretive transactions to the President and 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
Responsible for the preparation of thorough Investment Committee and Board packages
Participate in transaction due diligence process through site inspections, review of 3rd party reports, seller financial statements, etc. while maintaining positive and productive communication with seller
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
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
Qualifications
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
Must possess a valid driver's license
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 multi-family residential real estate acquisitions/underwriting experience
Strong multi-family residential real estate financial modeling and analysis experience
Physical Demands/Environment:
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
Friedman Real Estate is an Equal Opportunity Employer Applicants are considered regardless of race, color, religion, creed, sex, pregnancy, family responsibility, national origin or ancestry, citizenship, marital status, sexual orientation, transgender status, veteran's status, genetic information, or status as a qualified individual with a disability or any other protected characteristic in accordance with applicable law.