Open Position:
Managing Director, Investments
Position Reports to: CEO
Position Supervises: Yes
Department: Investments
Position Location: San Francisco or Seattle
Exempt/Non-Exempt: Exempt
Travel: Some travel required
Position Summary:
The Managing Director, Investments, is responsible for sourcing and executing acquisitions opportunities in target real estate markets, including but not limited to Multi-Family, Mixed Use, Retail, and Office. This role is responsible for all aspects of investment activity including: sourcing; underwriting; financial modeling; deal structuring; coordinating due diligence; supporting financings; negotiating terms and shepherding deals through internal review and Investment Committee approval processes. The role also oversees all asset management activities.
This position interfaces closely with professionals across the firm, including the Investment Committee, as the focal point of the investment process on specific transactions.
Responsibilities:
Sourcing and Acquisitions
• Actively participate in real estate industry events and organizations to foster relationships and knowledge of current investment themes, ideas and opportunities.
• Utilize industry knowledge and a well-established network to generate, screen and assess different investment strategies.
• Lead and support all aspects of investment activity, from deal origination to transaction execution: source, underwrite, and structure investment opportunities in a number of markets nationwide.
• Conduct or oversee commercial, legal and financial due diligence; perform valuation, market and risk analyses of commercial real estate assets.
• Work closely with team members to optimize deal structure by negotiating term sheets and agreements with partners.
• Develop business plans and exit strategies with the underwriting and asset management teams.
• Foster relationships with management teams and internal and external stakeholders.
• Develop and maintain contact with lenders, brokers, developers, consultants, investors, and other industry participants.
• Train and mentor junior team members.
Underwriting, Asset Management and Analysis
• Lead underwriting of potential new investments and repositioning prospects.
• Understand risk/reward relationship in transactions and fit with overall firm strategy.
• Manage financial analysis and provide recommendations: Manage and review creation of detailed financial pro forma and sensitivity analyses, including promote structures and IRR waterfalls.
• Manage internal resources, joint venture partners, and third-party consultants to ensure accurate and thorough due diligence and underwriting.
• Monitor market conditions and activities; review and/or analyze all asset-related assumptions.
• Manage and review creation of Hold/Sell analyses, lease analyses, and recommendations.
• Manage preparation of investment memorandums for committee approvals of transactions and major decisions.
• Oversee joint venture partners’ management of operations, repositioning, and/or development processes for assets in which MacFarlane Partners participates as an equity partner and/or debt provider.
• Participate in transaction structuring, negotiation, analysis, documentation, and closings, including LOI’s, P&S Agreements, joint venture agreements and other legal structures.
• Prepare quarterly investment valuations, analyses, and project/business plan summaries.
• Train and mentor junior team members.
• Undertake other projects as requested by senior management.
Qualifications:
Education and Experience
• 10+ years of experience in an analytically rigorous real estate role, with a preference for experience as a principal investor.
• Have an established national network of commercial real estate industry relationships.
• Demonstrated market knowledge, with an emphasis on our target urban and urban-node markets, which include Los Angeles, New York, Miami, the San Francisco Bay Area, Seattle and Washington, D.C.
• An undergraduate degree is required; a graduate degree is preferred.
Knowledge, Skills and Ability
• Entrepreneurial mindset: See ambiguity as an opportunity and obstacles as chances to build new solutions.
• Management: Self-motivated, results oriented professional able to work independently and within a team; effectively coordinate, manage and prioritize multiple assignments while working with diverse stakeholders and cross-functional teams.
• Strategic thinking: Develop strategies to achieve organizational goals; understand organization’s strengths & weaknesses; analyze market and competition; identify external issues and opportunities; adapt strategy to changing conditions.
• Business and financial acumen: Understand business implications of decisions; display orientation to profitability with exceptional analytical skills and financial acumen; demonstrate knowledge of market and competition; align work wih strategic goals.
• Communication: Speak clearly and effectively; act thoughtfully and persuasively; write clearly and informatively, varying writing style to meet needs; capable of building consensus.
• Interpersonal skills: Consider and respond appropriately to the needs and capabilities of different people in different situations; act tactfully and treat others with respect; relate effectively to others when encountering difficult situations.
• Judgment: Exhibit sound and accurate judgment; clearly explain reasoning for decisions; include appropriate people in decision-making process; demonstrate persistence and overcome obstacles; take calculated risks to accomplish goals.
• Quality: Demonstrate attention to detail, accuracy and thoroughness.
Computer Skills
• Proficient use of MS Office Suite and knowledge of Argus.
Supervision
• Has direct supervisory duties, including detailed review of direct reports’ work product.
Physical
• Work is performed in an office setting, primarily sitting or sitting.
• Regularly sits/stands at a computer station and operates electronic equipment 8 to 10 hours per day.
• Frequently lifts, carries and positions objects weighing up to 10 pounds.
MacFarlane Partners is committed to employing a diverse workforce. We value and actively seek to recruit, develop and retain people with backgrounds, experiences and perspectives that reflect the full diversity of our society.
For consideration, please email your resume to careers@macfarlanepartners.com.
