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Acquisitions Manager (Real Estate)
at Progress Residential
Acquisitions Manager (Real Estate)
- Job ID
- Job Location
- Real Estate Acquisitions
Looking for an opportunity with a dynamic, fun and goal-oriented company? We’re growing quickly and we’re looking for some not-so-typical talent to join our team.
Progress Residential® is one of the largest providers of high-quality, single-family rental homes in the United States. With more than 33,000 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 over 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, top-notch executive leadership. 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 market offices in Atlanta, Charlotte, Dallas, Houston, Indianapolis, Jacksonville, Las Vegas, Memphis, Miami, Nashville, Orlando, Phoenix, Raleigh, Sarasota, and Tampa.
The Acquisitions Manager will lead a team of Analysts and is directly responsible for thoughtfully deploying between $50-$100 million per month in multiple markets 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 conduct and manage the underwriting, due-diligence, and negotiation on hundreds of properties a month through multiple acquisition channels.
To be successful in this role, one must possess superior analytical ability in addition to a strong business acumen to effectively and efficiently execute our business strategy while working cross functionally with other key stakeholders within the organization. The ideal candidate excels at identifying risk and opportunity, iterates and solves problems quickly, and actively contributes enhancements to drive continual improvement to the way we acquire homes while remaining highly disciplined in an ever-changing investment landscape.
- Coach and manage a team of analysts and 3rd party brokers to ensure that investment goals are being met
- Manage optimal success ratios of both contract acceptance rates and due diligence pass rates to maintain pipeline at the intersection of discipline and efficiency necessary to hit monthly acquisitions targets and capital deployment goals for assigned markets
- Review, refine, and communicate with our Construction team the ideal finish levels for new acquisitions, 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 and determine property valuations
- Maintain tight feedback loops between 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
- Become the initiator of positive change across the organization
- Be comfortable working in a fast paced and changing environment
- Strong financial foundation for understanding the single-family rental business
- Acumen for statistics and using big data to inform investment strategy
- 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.