Our business is real estate, but our organization is so much more than bricks and mortar, beautiful buildings and well-managed properties. Our business is about people who need a place to call home and the people of Michaels who make it all happen.
This position will be directed by Senior Vice President of Michaels Finance and the Vice President, Capital Markets to execute and manage the Michaels Acquisition Platform for the acquisition of existing affordable multifamily housing developments throughout the United States. The primary focus of this position is to source, research, evaluate, assess and coordinate the execution of acquisition opportunities. This individual will be supported by the Michaels Finance underwriting staff.
1. Establish, build and maintain relationships with property owners, real estate brokers, and other potential acquisition contacts through phone canvassing, meetings, events and involvement in real estate trade organizations.
2. Conduct market research, identify and source leads, and expand existing databases.
3. Work with Michaels Finance and Michaels Capital Markets to strategize, define goals and successfully secure deals.
4. Visit acquisition targets to evaluate the real estate, the submarket and the physical condition of the property.
5. Prepare organized and detailed reports on acquisition initiatives of the affordable acquisition platform.
6. Be involved in various other special projects.
A minimum of five years experience in brokerage sales or acquisitions in the affordable multifamily housing space. The candidate must have a demonstrated network of acquisition contacts in the affordable multifamily housing space. Experience with real estate tools such as REIS, LoopNet or CoStar is a plus.
A bachelor’s degree from an accredited college or university in a related field is required.
Required Skills and Abilities:
The candidate must have the ability to meet deadlines, work independently, perform multiple tasks and possess the interpersonal skills necessary to navigate the demands of both internal and external stakeholders. The candidate must have strong organizational skills, mathematical and analytical skills and communication skills (both written and oral). Attention to detail and computer skills (including Word and Excel) are also necessary. An understanding of affordable housing operating (i.e. Section 8), financing tools (i.e LIHTC, tax-exempt bonds), and investment drivers (IRR, cash on cash) is preferred. An ability to evaluate the physical condition and estimate the costs to repair/upgrade components is desired.
While this position is based in the Camden headquarters, this position will require significant travel.