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Director of Acquisitions

Mt. Pleasant, SC

Director of Acquisitions (“the Director”)

Ziff Properties, Inc. (“ZPI”)-Mount Pleasant, SC office

Sunday, July 21, 2019

Founded in 1991 Ziff Properties, Inc. (“ZPI”) is an entrepreneurial real estate firm with a focus on the southeastern United States. We are engaged in the acquisition, ownership and operation of shopping centers, small bay warehouse properties, and self storage facilities.

Ziff -related entities are the majority investors in all properties. The properties are strategically located in markets in Arkansas, Florida, Georgia, Indiana, Illinois, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee, and Virginia. We maintain excellent relationships with brokers and owners by closing transactions quickly and at market terms, and by paying commissions promptly.

  • ZPI has acquired 88 properties, with a total acquisition cost of $351,500,000 and comprising 7,250,000 square feet.
  • Of ZPI’s 88 acquisitions only two have utilized financing at the acquisition closing and all properties acquired since 1995 were purchased with cash, implementing debt financing at a later date.
  • ZPI currently owns 49 properties, with an estimated value of $330,000,000 totaling 3,250,000 square feet.
  • ZPI does not enter situations where contracted properties are in competition for ZPI’s acquisition capital.
  • ZPI’s acquisition capital is deployed by the real estate professionals and principals who work full time at the ZPI corporate office in Mt. Pleasant, SC, not by outside boards or committees.
  • ZPI leases to national, regional, and local tenants including Moe’s Southwest Grill, Starbucks Coffee, MOD Pizza, Freddy’s Frozen Custard and Steakburgers, Pizza Hut, Five Guys Burgers and Fries, Shoe Show, Dollar Tree, Food Lion, Hibbett Sporting Goods, Sharp Business Solutions, BB&T, The Biltmore Company, and many more.
  • Our self storage facilities are managed by the real estate investment trusts CubeSmart and Extra Space.
  • Most ZPI acquisitions fall into the range of $3,000,000 to $12,000,000.

THE OPPORTUNITY

The company is searching for a dedicated Director of Acquisitions to perpetuate the company’s growth strategy.The successful candidate, by holistically directing acquisitions and dispositions, will curate the company’s portfolio for optimal performance.

Currently, ZPI’s preference is the acquisition of multi tenant (unanchored) shopping centers, highly demised small bay warehouse assets, self-storage land sites and buildings for adaptive reuse.The Director of Acquisitions will have exposure to a large quantity of transactions across multiple product types, meeting and developing relationships with commercial real estate professionals across the country.

The nuances and interdisciplinary coordination demanded by transactions will create a rewarding challenge for the successful candidate.

A talented team of analysts, finance professionals, accountants, investors, and leasing staff, will compliment the Director’s efforts.

SUMMARY OF JOB DESCRIPTION

  • Fortify and grow relationships within the commercial real estate industry that will lead to:
    • Insight into threats and opportunities
    • Knowledge of properties that are, or may become, available for purchase
    • Applicable understanding of industry best practices
    • Understanding of the cap rate market and financing trends
    • Best navigating property pursuit
    • Familiarity and/or access to essential players within the industry

  • Drive the acquisitions process, including but not limited to, prospect sourcing, oversight of the underwriting process, LOI negotiation, contract negotiation, oversight (and continual improvement) of the due diligence process, orchestrating the closing, and transitioning the property into the portfolio
  • Drive the dispositions process, including assisting in recommending disposition priorities, valuing the asset, selecting a broker, a buyer, negotiating, and closing

  • Manage, train, and maintain a staff, to meet the company’s acquisition and disposition goals

  • Delegate responsibility to the acquisitions team and other ZPI employees who may be needed or best suited for supplementing efforts at a given time

  • Attend necessary trade group meetings, actively participating in professional networks

  • Cold call brokers, bankers, commercial real estate owners, and others to achieve market knowledge and the trade potential of real estate opportunities

  • Market the efforts of the acquisitions department in all external communications

  • Advise the company regarding:
    • Geographic markets
    • En vogue product types and trends
    • Market sentiments
    • Technology and software that may enhance productivity

  • Creatively design solutions to problems that arise during the acquisitions and disposition process
  • While a property is operating within the ZPI portfolio, especially after acquisition and leading up to disposition, the Director of Acquisitions must help recommend actions and follow through to ensure that the property is best prepared.For example, following through with capital improvement plans and timing of strategic leases.

  • Have or quickly gain an understanding of the various elements of commercial real estate operations (leasing, finance, property management), in order to manage the acquisition pro forma process, best anticipating the scenarios under which a subject property will operate

REPORTING RELATIONSHIPS

The Director of Acquisitions reports directly to the Chief Operating Officer with input from the company’s CEO/Chairman.

JOB REQUIREMENTS

  • Experience: a minimum of 5 years of commercial real estate or relevant experience
  • Excellent writing, organizational, prioritization, and oral communication skills
  • Familiarity with research/information web-based databases
  • Must be a self-starting motivated person who enjoys meeting people and establishing relationships
  • Willingness and ability to travel
  • Some relevant coursework is preferable
  • Must be computer savvy, including the use of Microsoft Office Products such as Excel, Word, Outlook, CoStar, Loopnet, Argus (inputting only), and Wrike
  • Must be a dynamic individual with the ability and skills to represent the company as an ambassador of its capabilities
  • Must be a voracious reader of relevant publications, enabling the successful candidate to advise the company on various matters
  • Must be willing to embrace a drama free office culture, treating other employees with dignity and respect at all times
  • Must have the ability to multitask
  • Must be willing to adapt to changing market cycles
  • Must be willing and able to present to the company and to investors in a group setting
  • Must be interested in living and working in the Charleston, SC MSA, full time

COMPENSATION

To be determined

HOW TO APPLY

If you are interested in this opportunity, please send your resume, cover letter, and salary history to hmorris@zpi.net.

WHERE IS THE POSITION LOCATED

Sunny Charleston, SC!

Ziff Properties, Inc.

200 Wingo Way, Suite 100

Mt. Pleasant, SC 29464

843.724.3500

Ziff Properties, Inc is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.