Director/Associate Director - U.S. Real Estate Funds

Company Overview:
Our client is a Munich-based, international investment fund operator and registered advisor to German financial institutions, high-net worth individuals, and family offices. Since its inception, our client has completed over 180 closed-end funds (84 real estate) with a total investment value exceeding $7.2 billion encompassing several alternative investment strategies. The firm started investing in multifamily development in 2004 and currently has eleven (11) projects in various stages. The US office, headquartered in Atlanta, Georgia is responsible for originating, structuring and closing, then monitoring U.S. real estate investments on behalf of our investors. In 2018, our client opened a Boston office to assist in the sourcing and monitoring active investments in the local and other Northeast U.S. markets (New England, Mid-Atlantic).

Position Overview:

The Director/Associate Director – U.S. Real Estate Funds will work closely with the Chief Investment Officer and Vice President, U.S. Funds and Asset Management in all aspects of the deal life cycle from origination to disposition.  In the majority of transactions, the firm fulfills the role of limited partner and investor in a multifamily, joint-venture development. 

Key Responsibilities:

• Travel and assist with the Transactions Team’s deal sourcing/origination responsibilities to execute market research compilations for internal Investment Committee Memos:

• Review and/or draft investment committee (IC) memos based on relevant market research, developer provided materials and financial underwriting along with articulating the relevant deal risks and highlights will be critical to success. Other IC Memo components will include:

• • • Verify rental and sale comparable information through empirical data collection.

    • Review and summarize submarkets and key investment highlights for prospective investments.

    • Responsible for analyzing and creating reports on the local real estate market and regional economy with respect to employment statistics, major company activities, industry trends, and demographics that affect the local real estate market

    • Prepare and assist in the presentations of findings to executives and committees.

• • Research and evaluate new developer or equity placement broker relationships, and then initiate contact with support of Chief Investment Officer to explain the investment platform.

  • Ability to travel to selected prospective and existing site locations to conduct market research by evaluating the local market and assessing competitive properties.  Meet with senior and/or local development partner and clearly explain the firm’s investment platform.   The candidate must be able to write a succinct and clear summary of the travel and its findings for team members who did not participate.

• Execute the Transactions Team’s financial modeling responsibilities:

• • Highly proficient (expert) in Excel and understanding of modeling joint venture waterfall, fund structures, IRR, and real estate asset valuation.

  • Solid underwriting knowledge of multifamily projects to create proforma LP financial models.

  • Ability to fully translate developer’s financial model and underwrite the project based on the firm’s standards will be critical to success.

  • Expected to learn and ultimately master (to be in a reviewing position) the intricacies of the companies’ joint venture development and fund models.

  • Interpretating the financial and legal language contained in authoritative documents (joint-venture agreement, completion guarantee, loan documents, etc) impacting the joint-venture economics and highlight associated risks to the investor or firm leadership.

• Assist with the Transactions Team’s due diligence/investor responsibilities:

• • Coordinate due diligence with senior development partners and legal teams.

  • Assist in the planning of owner and other senior executive tours of investment markets, potential sites and other site-specific characteristics.

  • Attend to requests for information and data from external and internal clients.

  • Ability to create investor tour materials/handouts in Power Point or Adobe, as needed.

  • Provide assistance to Munich personnel for necessary client reports and other ad-hoc analysis.

• Assist the Transactions Team’s research responsibilities:

• Proficient in use of CoStar, Axiometrics, Claritas (or similar demographic software) to extract relevant market research and be able to translate this research into presentation format showing compelling trends and analyses to internal teams and clients on a regular basis.

• Serve as a market “expert” with extensive detailed knowledge of the macro and micro factors affecting the market.

• Attend to requests for information and data from external and internal clients

• Produce periodic status updates on the US Multifamily market for distribution.

Qualifications:

• All candidates must have a BA or BS degree from an accredited institution, preferably in real estate, finance, business, accounting, statistics, economics or related area.  Must have strong academic credentials.

• Candidates should have at least 7-10 years of direct real estate industry experience.

• Comfortable juggling multiple priorities and reviewing other’s work.

• Comfortable communicating with clients, joint venture partners, consultants, brokers, legal professionals.

• Computer proficiency with a strong working knowledge of Microsoft Excel, Word, PowerPoint, and Outlook and as well as Adobe Acrobat.

• Strong comprehension and writing skills as well as verbal interpersonal/communication skills.

• Strong organizational skills and attention to detail with the ability to prioritize and manage multiple projects simultaneously with low supervision.

• Strong sense of personal motivation, responsibility, and entrepreneurship.

• Candidates that possess a passion for real estate, anticipate others’ needs, and are inherently resourceful will succeed in this position.

• Language: English (Bilingual in German is a plus, but not necessary)