Vice President, Equity Investments

Job Description

Job Description

Company Overview

Berkshire Residential Investments is a people-first real estate investment company who values not only the impact we make as a company, but the time we spend together in our high-performing teams. We value individual skills and perspectives to allow us to best serve our employees, investors, residents, and other stakeholders.

If you're interested in a workplace where everyone feels empowered to bring their full, authentic selves to work each day, come join our talented and growing team at Berkshire Residential Investments. Our environment of entrepreneurial spirit, culture of expertise and our people-first approach will allow you to thrive while continuing to grow in your career.

Position Summary

The VP, Equity Investments will own and drive all multifamily acquisitions in their region/territory including sourcing, underwriting, due diligence, legal negotiation and closing core, core plus, and value add multifamily property acquisitions, debt investments, and equity joint venture investments for development within their territory. Ensure adequate pipeline within territory, including off-market transactions, and realistic underwriting to ensure outperformance against proforma. Territories include Southeast/Midwest regions.

Responsibilities include, but are not limited to:

• Source multifamily core, core plus and value add property acquisitions, and joint venture equity development investments and support debt investments
• Identify strategic opportunity and develop sourcing strategy and pipeline within assigned territory, targeting on-market and off-market transactions that satisfy current portfolio management requirements
• Develop and foster strong industry relationships with brokers and developer partners and operator partner relationships for debt and preferred equity investments, if required, and others to expand sourcing network
• Supervise, train and mentor junior acquisitions officers on market and property research and underwriting of potential investments
• Coordinate due diligence using other specialized team members to ensure comprehensive and timely completion within the transactional timeframe and the firm's investment process requirements
• Negotiate LOIs, term sheets, and legal documentation associated with the investment, managing, and working with the firm's outside counsel
• Coordinate investment financing and closing with Capital Markets taking the lead
• Coordinate investment closing with transactions closing team
• Present new investments to Investment Committee for approval
• Support Portfolio and Property Management with the tracking of investments post-acquisition
• Provide input into the property/investment valuation process
• Manage and develop Acquisitions staff
• Consistently demonstrate use of tact and discretion

Knowledge/Experience:

• Minimum of five (5) years managing acquisitions/sales staff
• Minimum ten (10) years of experience in commercial real estate with at least five years as a senior acquisitions professional in the multi-family sector in multiple geographies
• Originating loans to purchase properties in excess of 200 units
• Experience in both debt and equity transactions preferred
• Savvy and experienced underwriting and structuring of multifamily debt and equity transactions, to include recent experience in the distressed arena
• Preferred experience structuring joint ventures containing promotes, splits, preferred returns, etc.
• Effective negotiations skills, including, but not limited to, knowing what's important, creating win/win opportunities, knowing when to be flexible, when to be firm and knowing when to ask for investment committee guidance
• "Presence" necessary to "get in the door" and successfully interact with relevant industry counterparts
• Ability to influence and persuade, using a variety of approaches appropriate for the situation and party being influenced
• Excellent relationship building skills in working with property management, internal and external partners and sellers
• Demonstrated management skills with track record of building teams and identifying, mentoring, and growing talent in-person and virtual
• Aptitude for organizing, prioritizing, and managing multiple priorities, using critical thinking and problem solving
• Demonstrated multi-modal communication style that reaches every stakeholder, specifically excellent verbal, and written communications
• Collaborative working style with inclusive work and thinking behaviors, commitment to excellence in teams and work product, with a strong work ethic
• Proficiency and willingness to adopt new systems and processes
• Demonstrate emotional intelligence in high pressure and sensitive situations
• Ability to see, analyze and understand business dealings in terms of the overall business plan
• Tenacity, patience, and perseverance to work with business deals from beginning to end of process
• Demonstrated high level of ethics and integrity with a straightforward and honest approach

Technical/Educational Requirements:

• Undergraduate degree is required. MBA, CFA or equivalent experience and training is an added benefit, but not required
• Demonstrated advanced financial modeling and Excel skills required
• Demonstrated ability to use and learn new technology (e.g., computers/hardware, mobile, software, cloud-based programs)
• Proficiency with computers, keyboards, monitors, and telephone headsets
• Proficiency in Microsoft Suite of Products (e.g., Word, Outlook, Excel, Teams, Power Point)

Berkshire Residential offers an excellent benefits package, focusing on our employees' total health and wellness. We offer programs and incentives that promote physical, mental, financial, and behavioral wellbeing both within and beyond our workplace. Please visit our Careers page for full details – and to learn more about how we value our employees.

We believe

Berkshire Residential values diversity, equity, inclusion and belonging. Berkshire is committed to providing equal opportunity in all practices, including employees and applicants for employment. We ensure that decisions affecting employees are made without regard to their race, color, creed, national origin, age, disability, gender, gender identity, sexual orientation, or any other protected status.