Head Of Acquisitions Jobs

Role: Director of Land Acquisitions

Location: Newport Beach, CA

Type: In-person with hybrid work-from-home on Fridays

Cherry Tree Development

Cherry Tree Development is a rapidly growing multifamily real estate development and investment company headquartered in Newport Beach, CA. As part of our expansion plans, we have recently partnered with Bain Capital Real Estate and are now looking for a seasoned Director of Land Acquisitions to build out a new acquisitions team for our company and help scale the overall organization.

What we’re looking for:

As the Director of Land Acquisitions, you will be responsible for identifying, sourcing, and negotiating multifamily land acquisitions with an initial focus on the Southern California region. You will work closely with our executive team to develop and execute acquisition strategies that align with our company’s overall goals and objectives.

The ideal candidate will possess strong interpersonal skills and a familiarity with the Greater Southern California market and its key market participants. You will be asked to develop differentiated insights into the multifamily asset class to help drive the platform’s overall acquisition and development strategy. Although the candidate will be responsible for tracking and underwriting broadly marketed and brokered land sites, the ideal candidate must be ready and excited to undertake independent market analysis and develop a pipeline around off-market and other unconventional acquisition strategies.

This is an exciting opportunity for a seasoned candidate to build and lead a new acquisitions team for a rapidly growing organization. We are a very well-capitalized firm and are looking to deploy capital and scale quickly.

We offer a competitive salary, comprehensive benefits package, and meaningful participation in deals.

If you are a results-driven leader with a passion for real estate and a desire to make a significant impact, this role is for you.

Responsibilities:

·Actively lead and manage our top-down acquisition sourcing funnel and rigorously track all investment opportunities against weekly, monthly, quarterly, and annual targets.

·Create a strategic acquisition plan to define sourcing strategies, target locations, types of opportunities, and anything else required to support the Company’s overall investment objectives and target capital deployment.

·Lead the preparation of (with the assistance of junior team members) pro formas, feasibility packages including product recommendations, financial analysis, risk mitigation measures, letters of intent, agreements, and other related legal documents needed in purchasing land.

·Oversee the acquisition timeline and escrow process, track deal status, including transaction milestones; brief management on targeted acquisitions and timing; obtain approvals along the way.

·Generate acquisition opportunities by developing targeted submarkets within each region.

·Partner and cultivate relationships with property owners, civic organizations, government officials, retailers (if applicable), other developers, and the overall brokerage community to drive deal flow.

Qualifications:

·7-10+ years of demonstrated acquisitions experience in sourcing, evaluating, underwriting, and closing real estate acquisitions

·Demonstrated acumen and track record in underwriting and sourcing medium-to-high density multifamily development opportunities

·Exhibit management skills for building a best-in-class platform

·Experience building and managing a team of individuals

·Bachelor’s degree specializing in Business, Finance, Real Estate, Accounting, or related field

·Strong knowledge of the Southern California market.; Northern California market experience is a plus

·A self-starter with a proven acquisitions track record and the ability to source off-market deals.

·Excellent written and oral communication skills and the ability to effectively negotiate

·Strong work ethic and attention-to-detail

·Strong technical skills and ability to perform detailed property level due diligence

·Experience in financial underwriting and modeling

·Possess strong interpersonal skills

·Entrepreneurial mindset