VP Transactions

The Michaels Organization is a national leader in residential real estate offering full-service capabilities in development, property management, construction, and investment. At Michaels, our teammates strive to fulfill our promise of creating communities that lift lives – ones that jumpstart housing, education, civic engagement, and neighborhood prosperity. With this passion at the forefront of our business, Michaels teammates can be proud to be a part of the extraordinary, every day.

The VP Transactions will lead the Transactions team focusing on the underwriting of pursuits originated by the student housing/multifamily development team. The role will include financial underwriting, ad hoc financial analysis, due diligence and support of capital markets initiatives led by Michaels’ Capital Markets team. Whilst leading a team, the VP Transactions will be expected to lead in their own right, specific transactions as overall workload dictates. The VP Transactions will work closely the Executive Vice President of Development, Regional development leaders and analysts, leading a Camden based Transactions team focusing on underwriting and modeling transactions. This position is intended to be based in Camden, NJ.

• Work collaboratively with the development and property management teams to underwrite large scale institutional market rate multifamily and student housing ground up developments under various financing structures, including debt / equity and bond structures.
• Develop and continue to refine on an ongoing basis a template pro forma model of institutional quality, including all assumptions and other inputs developed from or in connection with other internal and external sources, proper design / operation of the model and the design and presentation of model outputs as required by both Michael Capital Markets and Finance teams. Develop template project running sheet or other method to track historical evolution of model and potential or alternative revisions under consideration.
• In collaboration with Regional leaders and developers, undertake quality assurance reviews of project specific pro formas to ensure that models reflect comprehensive underwriting, including reasonable appropriate assumptions, project specific commercial terms, integration of development, construction and operational expenses and assumptions and the completion of transaction specific sensitivity analysis.
• Market Research - Identify and survey project rent comparables, monitor supply/demand metrics and conduct all other required market research necessary to underwrite a project
• Work closely with Michaels' Capital Markets team to provide information necessary to assist in securing debt and equity financing for projects.
• Work with the EVP Development to prepare internal investment committee presentations
• Lead and be active in the development of Transactions team
• Assist CIO and CFO in ensuring current project projections are reflected in Michaels Development forecasts and business plans.
• Team-oriented. Work closely with Michaels Residential Regional business units as well as other Michaels' companies and functions. Provide leadership, guidance and underwriting support.
• Operate within and promote an environment of trust and transparency, collaborating effectively, and contributing to the long term growth and success of the team.
• Understand the key Michaels / MR metrics.
• Maintain current knowledge of industry trends and changes required by regulatory agencies, investors and program guidelines.
• Perform other tasks/ad hoc analyses as required.

Required Experience:

• Eight to ten years of solid multifamily (including student) real estate finance analysis. Specialized experience in structuring, underwriting, and closing multifamily housing transactions.
• Strong communication and analytical/technical skills, including knowledge of financial modeling, cash flow analysis, and sensitivity analysis utilizing Net Present Value and Internal Rates of Return.

Required Education/Training:

• Bachelor’s degree in Finance, Real Estate, Business Administration or other related field required.

Required Skills and Abilities:

• In-depth knowledge of origination, underwriting, closing and delivery of real estate development transactions.
• Excellent quantitative, problem solving, analytical and planning skills. Ability to easily and quickly shift between strategic and tactical thinking.
• Ability to coach and instruct others, in formal and informal settings.
• A spatial thinker who anticipates future opportunities and risks and plans and acts accordingly to drive positive outcomes. Possesses commercial acumen, at both enterprise and transactional levels.
• Ability to multi-task and prioritize work assignments. Flexibility and ability to work under pressure in fast paced, dynamic environment.
• Collaborative, innovative, creative and team oriented work style. Strong leadership and mentoring skills, and demonstrated success in motivating others and driving staff to achieve goals in a matrix environment. Ability to lead and manage others across geographically diverse locations.
• Strong presentation and communication (oral and verbal) skills. Ability to pay close attention to details while maintaining a view of the big picture issues and requirements.
• Strong working knowledge of Microsoft Office products; Financial modeling experience.

Salary Range Information:

The range displayed on each job posting reflects the targeted base salary for the position. Within the range, individual pay is determined by work location and additional factors, including job-related skills, experience, and relevant education or training.

Rewards & Benefits:

We know Michaels’ promise of lifting lives starts with our teammates, so making sure every single teammate is happy, healthy, and set up for a successful future is important to us.  As part of our team, you will enjoy a competitive wage, a comprehensive benefit package which includes Medical, Dental, Vision, prescription, etc., generous paid time off, a 401 (k) plan with a company match, and so much more.  We believe in education – and in taking care of our own – so as an added incentive your children will be able to apply for the Michaels Employee Scholarship Program. 

• Help make the world a better place in a team-oriented environment.
• Grow with our organization through various professional development opportunities.
• Collaborate and thrive in a company culture where all are welcome

Michaels teammates make a difference in the lives of residents, colleagues, and the communities where we live and work every day.  To learn more about the total rewards we offer please visit our website. 

Come join our team. You’re going to love it here!