Director of Acquisitions
Company: Essex Property Trust
Location: San Mateo
Posted on: May 6, 2024
Job Description:
Essex Property Trust is seeking an experienced and dynamic
individual to join the Company as a Director of Acquisitions in the
San Francisco Bay Area. Reporting to Dmitry Taraschansky, Senior
Vice President, Acquisitions and Investments, the Director will
have a critical role in the sourcing, evaluation, and closing of
multifamily real estate investment opportunities for Essex's REIT
platform and joint venture business.The successful candidate will
have extensive experience in sourcing, negotiating and closing
marketed and off-market multifamily transactions in the San
Francisco Bay Area as well as other West Coast markets. In addition
to sourcing individual deals, they should also have relevant
experience in evaluating and negotiating the acquisition of large
real estate portfolios. The Director role requires a strategic
mindset, exceptional analytical skills, and a deep understanding of
the real estate investment landscape.Please note that this job
position entails in-person office requirements for a minimum of 3
days per week: Mondays, Tuesdays, and Wednesdays, located at
Essex's corporate offices in Irvine, Woodland Hills, San Mateo, and
Bellevue.RESPONSIBILITIES:
- Source individual property acquisition and portfolio
acquisition opportunities for both the core REIT platform as well
as the joint venture business.
- Know deeply the target markets within the San Franciso Bay Area
and other assigned West Coast geographies, understand market
drivers, supply/demand, employment, industry trends, regulatory
changes, market conditions and other factors to support overall
investment strategy and specific investment opportunities.
- Establish, develop, and maintain relationships with brokers,
owners, investors, developers, operators, and professional service
providers to "be in the market" to generate investment
opportunities.
- Travel weekly or bi-weekly to coverage markets in order to tour
assets, meet with market participants, attend industry events and
closely track the market.
- This person will have responsibility for coordinating all
aspects of the acquisition process as it relates to their
investments including:
- Preparation of a market analysis and acquisition pro
forma.
- Presenting opportunities to senior management for investment
approval.
- Negotiating with seller or seller's representatives on all
aspects of letters of intent and purchase and sale agreements.
- Initiating and managing due diligence efforts associated with
new acquisitions, including the coordination of all internal teams
and external consultants.
- Coordinating with the asset management group a business plan
for each new acquisition.
- Track the performance of each acquisition through the
investment hold period and highlight issues as they emerge; will
not have direct responsibility but will continue to "care" as the
owner through the asset's lifecycle.QUALIFICATIONS:
- Bachelor's degree in Finance, Business Administration, Real
Estate, or a related field. Advanced degree (MBA, MSF, MSRE)
preferred.
- Minimum of 5-7 years of progressive experience in real estate
private equity, investments, or brokerage, with a strong focus on
multifamily. Experience in investment banking in a transactional
role preferred.
- Extensive knowledge of the San Francisco Bay Area multifamily
market. Experience in the Greater Seattle Market a plus
- Must have track record of sourcing and closing both marketed
and off-market acquisition transactions including portfolios.
Should be able to articulate a specific approach to sourcing
acquisition opportunities as well as a business plan/investment
strategy for each transaction.
- Extensive network and relationships within the multifamily
industry.
- Strong financial acumen and proficiency in financial modeling,
valuation techniques, and investment analysis.
- Excellent negotiation and deal structuring skills, with a keen
eye for identifying value-creating opportunities.
- Thorough understanding of real estate market dynamics, industry
trends, and regulatory frameworks.
- Exceptional communication and presentation skills, with the
ability to convey complex investment concepts to both internal and
external stakeholders.
- The candidate should have the attitude of a principal and be
insightful, creative and entrepreneurial. While this is a
transactional role, this professional should value the long-term
performance of the assets they acquire. CitySan
MateoStateCaliforniaJob LocationSan Mateo Corp OfficePosition
TypeRegularEssex Property Trust is seeking an experienced and
dynamic individual to join the Company as a Director of
Acquisitions in the San Francisco Bay Area. Reporting to Dmitry
Taraschansky, Senior Vice President, Acquisitions and Investments,
the Director will have a critical role in the sourcing, evaluation,
and closing of multifamily real estate investment opportunities for
Essex's REIT platform and joint venture business.The successful
candidate will have extensive experience in sourcing, negotiating
and closing marketed and off-market multifamily transactions in the
San Francisco Bay Area as well as other West Coast markets. In
addition to sourcing individual deals, they should also have
relevant experience in evaluating and negotiating the acquisition
of large real estate portfolios. The Director role requires a
strategic mindset, exceptional analytical skills, and a deep
understanding of the real estate investment landscape.Please note
that this job position entails in-person office requirements for a
minimum of 3 days per week: Mondays, Tuesdays, and Wednesdays,
located at Essex's corporate offices in Irvine, Woodland Hills, San
Mateo, and Bellevue.RESPONSIBILITIES:
- Source individual property acquisition and portfolio
acquisition opportunities for both the core REIT platform as well
as the joint venture business.
- Know deeply the target markets within the San Franciso Bay Area
and other assigned West Coast geographies, understand market
drivers, supply/demand, employment, industry trends, regulatory
changes, market conditions and other factors to support overall
investment strategy and specific investment opportunities.
- Establish, develop, and maintain relationships with brokers,
owners, investors, developers, operators, and professional service
providers to "be in the market" to generate investment
opportunities.
- Travel weekly or bi-weekly to coverage markets in order to tour
assets, meet with market participants, attend industry events and
closely track the market.
- This person will have responsibility for coordinating all
aspects of the acquisition process as it relates to their
investments including:
- Preparation of a market analysis and acquisition pro
forma.
- Presenting opportunities to senior management for investment
approval.
- Negotiating with seller or seller's representatives on all
aspects of letters of intent and purchase and sale agreements.
- Initiating and managing due diligence efforts associated with
new acquisitions, including the coordination of all internal teams
and external consultants.
- Coordinating with the asset management group a business plan
for each new acquisition.
- Track the performance of each acquisition through the
investment hold period and highlight issues as they emerge; will
not have direct responsibility but will continue to "care" as the
owner through the asset's lifecycle.QUALIFICATIONS:
- Bachelor's degree in Finance, Business Administration, Real
Estate, or a related field. Advanced degree (MBA, MSF, MSRE)
preferred.
- Minimum of 5-7 years of progressive experience in real estate
private equity, investments, or brokerage, with a strong focus on
multifamily. Experience in investment banking in a transactional
role preferred.
- Extensive knowledge of the San Francisco Bay Area multifamily
market. Experience in the Greater Seattle Market a plus
- Must have track record of sourcing and closing both marketed
and off-market acquisition transactions including portfolios.
Should be able to articulate a specific approach to sourcing
acquisition opportunities as well as a business plan/investment
strategy for each transaction.
- Extensive network and relationships within the multifamily
industry.
- Strong financial acumen and proficiency in financial modeling,
valuation techniques, and investment analysis.
- Excellent negotiation and deal structuring skills, with a keen
eye for identifying value-creating opportunities.
- Thorough understanding of real estate market dynamics, industry
trends, and regulatory frameworks.
- Exceptional communication and presentation skills, with the
ability to convey complex investment concepts to both internal and
external stakeholders.
- The candidate should have the attitude of a principal and be
insightful, creative and entrepreneurial. While this is a
transactional role, this professional should value the long-term
performance of the assets they acquire.All full-time regular
associates are offered competitive salaries, experience career
growth, and are eligible for benefit packages that include medical,
dental, vision, paid parental leave, 401k employer match,
excellence rewards, wellness programs, and much more. With our
Sunday property operations office closures, 10 paid holidays, and
15 PTO days, work/life balance is a priority! Additionally, most
positions are eligible for a housing discount of 20%. Essex
provides great communities in which to live, work and invest. We
are a purpose-driven company, and we pride ourselves on promoting
an internal culture of growth and opportunity by engaging,
enabling, and empowering our teams. Working at Essex is not a
destination. It is a journey where you can confidently build your
career. The salary range for this position is $144,000.00 -
$217,000.00 per year. New hires generally start between $144,000.00
- $180,000.00 per year. The final salary offer will be determined
after reviewing relevant factors, including but not limited to
skill sets; relevant experience; internal equity; and other
business and organizational needs.This role is also eligible to
participate in Essex's discretionary Annual Bonus program that is
commensurate with the level of the position. Find Your Next Career
in Multifamily with ESSEX! Come build a career with us! Essex
Property Trust is an S&P 500 company and a proven leader in
West Coast apartments. We are committed to the vibrant communities
in which we operate, and we continually push to innovate, improve,
and add value to the lives of our residents, associates, and
shareholders. - At Essex, we believe a company focused on
diversity, equity, and inclusion (DEI) is the key driver of
innovation and collaboration. We offer competitive benefits,
opportunities to grow your career, and a positive workplace
environment in which every employee is empowered to provide a
meaningful contribution to our Company's mission. -Our associates
are offered competitive salaries, experience career growth, and are
eligible for benefit packages that include medical, dental, vision,
401k employer match, excellence rewards, wellness programs and much
more. With our Sunday property operations office closures and over
15 PTO days, work/life balance is a priority! Additionally, most
positions are eligible for a housing discount of 20% or more if you
live onsite.
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Keywords: Essex Property Trust, San Mateo , Director of Acquisitions, Executive , San Mateo, California
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