Position: Southeast Land Acquisitions Associate
Location: Los Angeles, CA
Who We Are
CGI+ is a dynamic, entrepreneurial, fast-growing multifamily real estate investment and development firm based in Los Angeles and is seeking a Southeast Land Acquisitions Associate. Founded in 2006, CGI+ primary strategy includes both value-add investments and ground up development, largely in the apartment business. The firm’s existing portfolio includes multifamily, extended stay corporate housing, hospitality and retail assets located in California and in key cities in the Southeastern and Southwestern U.S. CGI+ is embarking on an aggressive growth plan, with a goal of establishing itself as one of the nation’s premier investor and developer of multifamily communities in select strategic target markets across the nation.
The Southeast Land Acquisitions Associate is responsible for the investment process of existing value-add multi-family and extended stay assets (non-development) as well as land sourcing while co-sharing the West Coast. The Acquisitions professional has primary responsibility, authority, and accountability for sourcing, underwriting, negotiating, structuring, and closing of acquisitions in accordance with the current investment criteria and portfolio demands of CGI+ Strategies.
What You’ll Do
- Participate in the development of strategic plan, policies and operating procedures, and annual plans and budget.
- Review and evaluate market data and recommend markets and sub-markets in which to target acquisitions on the West Coast.
- Responsible for sourcing Value-Add development and non-development real estate acquisitions. Land and existing multifamily opportunities.
- Identify and recommend investment opportunities and support the deal life cycle from origination through closing.
- Meet deal criteria of minimum of 100 units and minimum $50M per deal; deploy $75M to $100M per year.
- Manage and cultivate existing relationships actively maintain relationships with key strategic partners and deal sources, including Brokers, Lenders, Contractors, and all others involved in property operations and acquisitions.
- Maintain a current pipeline of available properties; keeping essential contacts that are most beneficial in ensuring the successful execution of CGI+’s long- term business plans.
- Work with CFO and capital markets group to facilitate capital formation for each investment and for assets in the portfolio.
- Negotiate with seller and seller representatives.
- Lead the annual budget, business planning, and re-forecasting process for each asset.
- Due diligence; develop business plan for the subject property.
- Manage the closing and provide appropriate post-closing transitional support.
- Lead efforts to develop and execute on our growth plan, working closely with the key Principal.
- Conduct annual updates to portfolio strategy, capital allocation model and annual budget for approval.
- Participate in capital raising efforts .
- Support and nurture the company culture.
What You’ll Need
- Four-year college or university degree required with 5- 7ears related work experience; Masters degree in Finance, Real Estate, or Business is desirable.
- The ideal candidate will have 5-7 years of real estate acquisition experience and 3-5 years of direct responsibility for evaluating, sourcing, presenting to Executive Comittee and closing Value-Add real estate transactions.
What Will Get You Noticed
- Key understanding of market dynamics and fundamentals.
- Hungry to be a part of an entrepreneurial team.
- Creative thinker that can see asset potential that is not straight forward.