JOB DESCRIPTION SUMMARY
The Acquisitions Associate will be selected by the Chief Operating Officer and will report to the Assistant Director of Acquisitions. A successful Acquisition Associate will add value to Ziff Properties, Inc. by increasing acquisition volume.
The basic function of the Acquisitions Associate is to seek out viable commercial real estate acquisition opportunities. These opportunities must meet investment objectives established by the Principals of ZPI and currently include, multi-tenant shopping centers, value-add self-storage properties, and small bay warehouse facilities.
It is essential that the Associate have the desire and necessary skills to develop and maintain contact with brokers, owners, and others who are aware of or control commercial property owned by motivated sellers.
As the opportunity is focused on production, it is non-essential that the Associate have the ability to fully underwrite potential acquisitions. However, the Associate must learn and fully understand the fundamental concepts that most often make for successful acquisitions (access, visibility, space markets, industry trends, supply and demand, demographics, basic financial data, leases, rents, pricing concepts, macro-economic trends, etc.)
RESPONSIBILITIES AND DUTIES
Add Value to ZPI through identifying, sourcing, investigating, closing, and make recommendations for strategically improving acquisition prospects.
Learn the market trends, desirability, general real estate dynamics, and leasability, of multiple geographic trade areas and submarkets.
Submit acquisition prospects to the underwriting team and develop and share supportable and informed opinions regarding the underwriting of the asset.
Canvas the internet and applicable databases for leads.
Learn to run demand analyses for self storage prospect markets and implement this into regular screening practice.
Build a network: Introduce yourself, via telephone or face-to-face meeting, to those in the industry who control relevant properties and maintain regular contact with them.
Work with third party companies to produce and negotiate purchase contracts, surveys, and environmental reports. Efficiently learn the ins and outs of each.
Harvest data and industry news, and share findings with the acquisitions team on a regular basis.
Innovate strategies for generating leads. Employ lead generation and identification strategies innovated by other ZPI team members.
Become a go-to name for divestiture professionals, maintain ZPI’s status as such.
Travel (sometimes multiple consecutive days) to trade shows, site visits, and broker meetings.
Display a high level of effort and commitment to performing work; operate effectively within the organizational structure; demonstrate trustworthiness and responsible behavior.
Demonstrate eagerness to learn and assume responsibility; seek out and accept increased responsibility; display a “can do” approach to work.
Successful candidates will understand the fluid nature of the commercial real estate market and be willing to adjust day to day activities accordingly.
Show persistence and seek alternatives when obstacles arise; seek alternative solutions; do things before being asked or forced to by events.
Work within the system in a resourceful manner to accomplish reasonable work goals; show flexibility in response to process change and adapt to and accommodate new methods and procedures.
Other duties and tasks as may be assigned by the Chief Operating Officer.