Acquisitions Associate (EG)
Acquisitions Associate (EG)
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Progress Residential® is one of the largest providers of high-quality, single-family rental homes in the United States. With more than 32,000 homes in fifteen of the country’s fastest-growing markets, our residents appreciate the flexibility, freedom and convenience of living in a single-family home without the obligations of home ownership. Progress is committed to making the home rental process easy and enjoyable for the 100,000 residents we serve by empowering our team members and investing in innovative systems and technology.
Over the past three years our portfolio has doubled in size and we have added new executive leadership, including the recent appointment of Charles “Chaz” Mueller to Chief Executive Officer. We see increasing demand for professionally managed single-family rental homes and anticipate continued growth.
Progress Residential has a national footprint with our executive office located in Dallas, Texas, our corporate office in Scottsdale, Arizona and regional offices in Atlanta, Charlotte, Dallas, Houston, Indianapolis, Jacksonville, Las Vegas, Memphis, Miami, Nashville, Orlando, Phoenix, Raleigh, Sarasota, and Tampa.
The Acquisitions Associate is directly responsible for the capital placement of between $5-$20 million/month through the acquisition of single family rental homes on behalf of Progress Residential. Leveraging the company’s best in class acquisition platform; the candidate will underwrite, diligence, and negotiate hundreds of properties a month through multiple acquisition channels. Through in-person market tours and methodical analysis, the Acquisitions Associate is expected develop and maintain an in-depth understanding of their assigned market, including, rental rates, property values, competitor activity, and potential bulk sale opportunities. To be successful in this role, one must possess superior analytical ability in addition to a strong business acumen to effectively execute our business strategy. Highly disciplined and a constant problem solver, the ideal candidate excels at identifying risk and opportunity, iterates quickly, and consistently contributes pointed enhancements, all of which are critical talents in an ever-changing investment landscape.
- Perform investment analysis and underwriting of single-family residences offered for sale via MLS, Auction, Bulk or New Construction which meet the Company’s purchase criteria and return / yield expectations
- Work closely with the Construction team to establish a defined renovation scope and finish level which will optimize each asset’s return profile (e.g. IRR and Cap Rate)
- Incorporate real-time leasing performance trends into neighborhood and asset selection, by underwriting inclusive of supply-demand trends to better inform market rents; determine property valuations
- Maintain tight feedback loops amongst multiple departments including Construction, Leasing, Property Management, and Asset Management teams to improve market knowledge and better inform future acquisitions
- Conduct in-person market tours to view and understand our rental product performance in contrast to competitor inventory at the submarkets level and the specific subdivision when appropriate
- Bachelor’s Degree (preferably in Business, Finance, or related subject) required
- Previous Analyst experience desired
- Advanced Excel, PowerPoint
- Familiarity with Salesforce CRM preferred
- Ability to be independent and a self-starter; is self-motivated and takes initiative
- Ability to multi-task in a fast-paced environment and manage multiple projects
- Strong verbal and written communication skills – ability to distill information down to key points
- Identify issues and offer solutions
- Thinks critically and draws well-reasoned conclusions
- Minimal travel required
What you can expect from us:
Progress Residential® offers all the financial and non-financial incentives you would expect from an innovative real estate investment and management firm:
- In addition to outstanding training, we host quarterly summits and town hall meetings to encourage growth, knowledge sharing and a good time. After all, it’s about progress, not perfection.
- We offer competitive compensation, including a performance-based bonus.
- Our generous benefits package includes comprehensive healthcare coverage for you and your family, parental leave, paid time off, and 9 paid holidays.
This brief summary is not an all-inclusive description of job duties. Other job duties and responsibilities may also be assigned by the incumbent’s supervisor at any time based upon Company need.
Progress Residential® is a proud Equal Opportunity employer, m/f/d/v.