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Director of Acquisitions - The Kor Group

Summary
Director of Acquisitions - The Kor Group
Salary Competitive salary
Schedule Full Time
Experience Minimum 7 years of experience
Location 1437 7th St, Santa Monica, CA 90401, USA

Director of Acquisitions - The Kor Group


Description

The KOR Group is a fully-integrated real estate investment, development and management firm based in Los Angeles with offices in San Francisco and Austin.  Kor invests in and develops properties for its own account and in joint venture partnerships with institutional and high net worth investors.   Since its inception, Kor has acquired and developed lifestyle hospitality, residential, and office assets valued in excess of $2 billion. Kor primarily employs value-add and opportunistic strategies to generate above average, risk-adjusted returns for its investors. Its expertise spans ground-up construction, adaptive reuse, value-add acquisition and repositioning projects. Its structure as a privately held company allows for flexibility to underwrite and execute deals of all asset types, sizes and structures in order to secure the best opportunities in the market.

Kor is searching for a highly experienced Director of Acquisitions who will work directly with the principals of the company and be responsible for sourcing, underwriting and structuring acquisitions of real estate.  The position will be primarily focused on multifamily acquisitions, including sourcing and acquisition underwriting.  Ideally, the candidate would have at least 7 years of real estate experience, and in particular experience with multifamily value-add and development in Texas and the Southwestern United States.  We have a highly collaborative and efficient organization, which will provides direct access to senior team members but also requires the candidate to be able to take on significant responsibilities.  A brief description of primary job responsibilities are below. 


Responsibilities:

  • Develop extraordinary knowledge of assigned real estate markets
  • Identify and source acquisition opportunities through the brokerage community as well as off market deals directly from property owners in Texas/the Southwestern United States and other select markets in the USA;
  • Underwrite real estate investments – primarily property acquisitions;
    • Cash flow modeling, primarily using Excel
    • Analysis of market data and trends to develop underwriting assumptions
    • Identification and analysis of comparable sales
    • Preparation of investment summaries, proposals, committee memoranda
    • Negotiation of LOIs and Purchase & Sale Agreements
    • Coordination with lenders and equity investors for deal capitalization
    • Oversight and management of due diligence processes
    • Execution of transaction closings
  • Assistance with transaction financing, including preparation of financing memoranda, providing lender due diligence materials, analysis of competing bids, and closing coordination;
  • Analytics relating to asset management –financial reporting, annual budget preparation, ROI analysis, hold/sell analyses, etc.


Qualifications:

  • 7 to 10 years of experience in acquisitions of multi-family properties in Texas and the Southwestern United States with a proven track record; 
  • Strong analytical skills and proficiency with excel including “waterfall” cash flows and carried interest structures;
  • Established network of principal, broker, advisor and property owner relationships;
  • Some asset management experience is preferable, including capital and operating budgeting experience;
  • Strong writing and presentation preparation skills
  • Ability to work entrepreneurially and to approach investment opportunities from an owner's perspective
  • Team orientation, “extra mile” work ethic, firm culture contributor/carrier

We will offer a highly competitive compensation, bonus and profit participation package for the right candidate who wants a long-term relationship with our company.

The Kor Group provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability, gender, gender identity or expression, genetics, or any other federal/state protected category.

The Kor Group will consider qualified applicants with criminal histories in a manner consistent with local Fair Chance Hiring Ordinances.

The KOR Group is a fully-integrated real estate investment, development and management firm based in Los Angeles with offices in San Francisco and Austin.  Kor invests in and develops properties for its own account and in joint venture partnerships with institutional and high net worth investors.   Since its inception, Kor has acquired and developed lifestyle hospitality, residential, and office assets valued in excess of $2 billion. Kor primarily employs value-add and opportunistic strategies to generate above average, risk-adjusted returns for its investors. Its expertise spans ground-up construction, adaptive reuse, value-add acquisition and repositioning projects. Its structure as a privately held company allows for flexibility to underwrite and execute deals of all asset types, sizes and structures in order to secure the best opportunities in the market.

Kor is searching for a highly experienced Director of Acquisitions who will work directly with the principals of the company and be responsible for sourcing, underwriting and structuring acquisitions of real estate.  The position will be primarily focused on multifamily acquisitions, including sourcing and acquisition underwriting.  Ideally, the candidate would have at least 7 years of real estate experience, and in particular experience with multifamily value-add and development in Texas and the Southwestern United States.  We have a highly collaborative and efficient organization, which will provides direct access to senior team members but also requires the candidate to be able to take on significant responsibilities.  A brief description of primary job responsibilities are below. 


Responsibilities:

  • Develop extraordinary knowledge of assigned real estate markets
  • Identify and source acquisition opportunities through the brokerage community as well as off market deals directly from property owners in Texas/the Southwestern United States and other select markets in the USA;
  • Underwrite real estate investments – primarily property acquisitions;
    • Cash flow modeling, primarily using Excel
    • Analysis of market data and trends to develop underwriting assumptions
    • Identification and analysis of comparable sales
    • Preparation of investment summaries, proposals, committee memoranda
    • Negotiation of LOIs and Purchase & Sale Agreements
    • Coordination with lenders and equity investors for deal capitalization
    • Oversight and management of due diligence processes
    • Execution of transaction closings
  • Assistance with transaction financing, including preparation of financing memoranda, providing lender due diligence materials, analysis of competing bids, and closing coordination;
  • Analytics relating to asset management –financial reporting, annual budget preparation, ROI analysis, hold/sell analyses, etc.


Qualifications:

  • 7 to 10 years of experience in acquisitions of multi-family properties in Texas and the Southwestern United States with a proven track record; 
  • Strong analytical skills and proficiency with excel including “waterfall” cash flows and carried interest structures;
  • Established network of principal, broker, advisor and property owner relationships;
  • Some asset management experience is preferable, including capital and operating budgeting experience;
  • Strong writing and presentation preparation skills
  • Ability to work entrepreneurially and to approach investment opportunities from an owner's perspective
  • Team orientation, “extra mile” work ethic, firm culture contributor/carrier

We will offer a highly competitive compensation, bonus and profit participation package for the right candidate who wants a long-term relationship with our company.

The Kor Group provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability, gender, gender identity or expression, genetics, or any other federal/state protected category.

The Kor Group will consider qualified applicants with criminal histories in a manner consistent with local Fair Chance Hiring Ordinances.


Details
Salary Competitive salary
Schedule Full Time
Experience Minimum 7 years of experience
Location 1437 7th St, Santa Monica, CA 90401, USA

Skills
Real Estate Development
By applying you confirm you have these skills.

1437 7th St, Santa Monica, CA 90401, USA