Position: Director of Acquisitions - Affordable Housing - Southern California
Direct Reporting: Reports directly to VP-Development
Overall Responsibility: Identify and investigate potential affordable housing multifamily development sites in areas targeted by VP-Development. This individual would drive all the acquisition activities for the Company, supervising two to three people. This person should have a heavy background in sourcing multi-family land, preferably for affordable housing, and also possess an effective network of third party brokers and redevelopment officials throughout southern California.
Primary skill set required: Acquisition for Rehab (4%) opportunities
• Identify and inventory all available multifamily land, vacant and/or with improvements, on which residential development can occur under existing or future land use and zoning designations (search methodology and criteria to be defined by VP-Development).
• Prepare map information identifying potential residential development sites with information regarding land area, current zoning, possible future zoning, and development constraints. Present information to VP-Development for pursuit authorization.
• Prepare preliminary underwriting for review and approval by VP-Development.
• Contact land owners and meet with government officials/staff to assess probability and terms to acquire and probability of development approvals, respectively.
• Prepare purchase offers for review and approval by VP-Development.
• Regularly update the Development Pipeline Report
• Monitor and report on all multifamily development projects in pursuit, under contract, in planning, or under construction by others within areas targeted by VP-Development.
• Prepare bi-weekly progress reports on all phases of land acquisition activities including, but not limited to, areas searched, potential sites, contacts/meetings completed, offers submitted, pursuit status, etc.
Qualifications: -Bachelors degree, from accredited institution, with an emphasis in real estate, finance, or planning. MBA or other advanced degree a plus.
-6+ years related experience, multi-family real estate experience a plus.
-Strong analytical, verbal and written communication skills
-Professional demeanor with a strong work ethic
Salary: Call for details