Senior Investment Manager

We are seeking a Senior Investment Manager with a focus on acquisitions to join the Investment team. The principal responsibility of the role is to implement the investment strategy that is in line with Grosvenors strategic plan and participate in all acquisition and disposition activities in Northern and Southern California. This includes the origination and underwriting of new opportunities with a focus on multifamily and mixed-use rental investment opportunities. Consideration will also be given to other property sectors including retail and office. Typical deal size is in the $50M - $150M range with focus on urban areas and cities surrounding the urban core that are in line with Grosvenors return objectives. Part of the role will be to research and make recommendations to the Senior Vice President Investment on new strategies for the region in line with the companys overall objectives for the Investment program.

The successful candidate must have comprehensive understanding of market conditions and trends affecting value of a real estate investment and knowledge of risks which could adversely influence projected returns. Outstanding interpersonal skills required with strong analytical and quantitative approach to the business. Must have impressive presentation skills and be able to articulate both orally and in written form the case for a specific transaction to a sophisticated investment committee.

Purpose of role

The principal responsibility of the role is to implement the investment strategy that is in line with Grosvenors strategic plan and participate in all acquisition and disposition activities in Northern and Southern California. This includes the origination and underwriting of new opportunities with a focus on multifamily and mixed-use rental investment opportunities. Part of the role is to research and make recommendations to the Senior Vice President Investment on new strategies for the region in line with the companys overall objectives for the Investment program.

Key responsibilities

To perform this role successfully an individual must be able to perform each key responsibility satisfactorily. The requirements listed below are representative of the knowledge skills and/or ability needed. This includes the following; other duties may be assigned as needed within skill sets or if additional responsibilities are added.

Acquisitions and Dispositions

• Source new investment opportunities by establishing relationships with owners brokers and potential capital partners. Lead acquisitions and dispositions within the region;

• Evaluate proposed acquisitions and make recommendations to the SVP Investment on transactions that align with our corporate strategy investment return and social benefit objectives;

• Establish and maintain relationships with industry organizations within the region to enhance market knowledge and facilitate investment opportunities including attending market events. Continue to develop peer networks amongst both the broker and landlord communities;

• Ensure proper execution throughout the lifecycle of transactions including sourcing acquisitions liaising with brokers and consultants negotiating deal terms conducting due diligence activities financial underwriting and market analysis for investment review.

• Carry out the financial underwriting process for potential new acquisitions using template underwriting models and market assumptions;

• Prepare accurate and thorough cash flow forecasts and sensitivity analysis for prospective acquisitions using Argus Enterprise and Excel;

• Research market trends drivers and supply and demand factors to understand and target specific submarkets within the region for investment;

• Prepare investment and disposition memorandums for review by SVP Investment prior to submission to Managing Director Investment and Investment Committee/Executive Committee for consideration;

• Oversee all aspects of the due diligence and closing process including conducting thorough reviews of new and existing projects and engaging third-party consultants on an as-needed basis.

• Assess local real estate market fundamentals in the region and maintain and share with the Investment Team an understanding of market conditions by interfacing with local brokers to evaluate competitive properties and transactions;

• Liaise and cooperate with Asset Management team members both pre- and post- acquisitions to ensure compliance with established budgets and schedules to maximize investment project returns;

• Oversee the preparation of monthly quarterly and annual reports of pipeline and target acquisitions and investment markets as well as maintaining an acquisition tracker for review in bi-weekly pipeline meeting;

• Provide cross-functional support to Asset Management Capital Markets and Development teams and assist finance team in securing loans for new acquisitions as required;

Hold-Sell / Valuations

• Manage annual Hold/Sell and Valuations process by preparing materials and strategic analyses;

• Make recommendations to SVP Investment and Managing Director Investment on the optimal timing and consideration set for disposition of existing assets in portfolio;

• Work extensively with Asset Management team on the quarterly valuation process. Determine appropriate leasing and capital markets assumptions to generate discounted cash flow analyses and conclude internal valuations;

• Participate in the third-party appraisal process to evaluate appraised values of each property within the region and determine the accuracy and reasonableness of such valuations;

Capital Partnerships and Portfolio Management

• Drive the process for recapitalizations and collaborate with Capital Markets team on joint venture partner formation;

• Work closely with Managing Director on preparation of presentations and reports for Investment Committee and/or Board of Directors;

• Maintain deal tracking software used to track prospective acquisitions and overall investment pipeline to support capital raising efforts;

• Establish and maintain relationships with potential capital partners within the region to enhance capital raising activity including attending networking events;

Preferred skills

Qualifications

• Bachelors degree or equivalent in real estate business finance or accounting with strong record of academic achievement

Track record

• 8 years of commercial investment experience with at least three to five years of acquisition experience attained at a real estate investment trust an institutional investment manager brokerage firm or large owner / operator --- Please submit a deal sheet with resume application.

• Self-starter with the ability to multi-task and an efficient manager of time.

Technical skills/knowledge

• Excellent written and verbal communication skills are essential.

• Proficient with Microsoft Office Suite and ARGUS with strong mathematical and analytical skills.

• Thorough understanding of accounting principles and DCF analysis as well as a financial understanding of risk and value creation.

• Excellent reasoning and negotiation ability detail oriented and effective problem-solving skills with an analytic and quantitative approach to identify and execute strategic solutions.

• Strong communication skills with the ability to proactively recognize investigate and communicate all issues.

The expected base salary range for this role is $140000 to $180000. Actual offered salary will depend on experience skills and qualifications. In addition to base pay eligible employees participate in various incentive compensation plans based on individual and business performance as well as a comprehensive range of health and wellness benefits.

At Grosvenor we seek to recruit and develop people who share our values Integrity Respect and Trust and have the skills and ambition to help us implement our stick to our promises build lasting relationships with partners and work closely and responsibly with local communities.

Working conditions and physical requirements

The physical demands described here are representative of those that must be met by an Employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• The Employee must be able to remain stationary for long periods

• The Employee must be able to operate a computer and other office machinery

• The Employee must be able to occasionally move about inside the office to access file cabinets office machinery etc

• The Employee must be able to communicate and exchange information with co-workers and external vendors in person over the phone and via email.

• The Employee must be able to decipher documents and other communications.

• This role is in an office environment with a noise level that is usually quiet to moderate.

Job description revision

This is not necessarily an exhaustive list of all responsibilities skills duties requirements efforts or working conditions associated with this job. While this job description is intended to be an accurate reflection of the current job management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change. This job description replaces all previous descriptions for this position.

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