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Acquisitions Manager

Acquisitions Manager

Team 
Business Development
Location 
US-MI-Detroit

Position Details

Who We Are

Detroit-based Bedrock is a full-service real estate firm specializing in acquiring, leasing, financing, and managing commercial and residential space.  Since its founding in 2011, Bedrock and its affiliates have invested more than $3.5 billion in developing more than 100 properties in downtown Detroit and Cleveland totaling more than 16 million square feet. Bedrock’s real estate portfolio includes more than 330 office and retail tenants in Detroit’s technology-centric downtown.  For more information, visit www.Bedrockdetroit.com or engage with us on Twitter and Instagram @BedrockDetroit and Facebook.

 

The Team

Acquisitions work begins by identifying a strategic opportunity which includes working with various building owners and brokers to find available properties in our target areas, determining if a property fits within our strategic vision and preparing an offer. Once the property is under contract they begin coordinating and performing due diligence, which includes working with various Bedrock teams and third party contractors to get a full understanding of the existing physical, legal, and financial conditions of the property. If satisfied with the financial outlook, Acquisitions then begins to secure the funds necessary to purchase the property and manages the closing process. Upon closing, they begin the process of transition a property to the Property Management Team to orchestrate a smooth takeover as well as tracking and executing any post-closing obligations associated with a given purchase.

 

What You'll Do/Need

Duties and Responsibilities

  • Managing the acquisition due diligence process, which includes:
    • Leading due diligence calls;
    • Guiding, reviewing, and assisting in the financial modeling process;
    • Preparing materials for the CEO to facilitate key decision making and negotiations with a given seller (i.e. one-pagers, due diligence summaries, etc.);
    • Strategically communicating with key contacts at the appropriate municipalities throughout due diligence;
    • Serving as the day-to-day Bedrock point of contact for seller(s) and broker(s);
    • Ensuring that key deadlines are met and that a transaction is successfully moving along within such timeline(s);
    • Communicating key deal points to the applicable Bedrock leadership team members;
    • Maintaining Bedrock due diligence process and updating the same as necessary.
  • Working with the Acquisitions Team on finalizing acquisition memos and tracking sheet for internal circulation
  • Sourcing and evaluating potential acquisition targets, and recommending a course of action along with a property valuation to the CEO and VP of Acquisitions;
  • Gathering property and market specific information using a variety of resources including, Costar, Motor City Mapping, and similar databases;
  • Providing guidance to Acquisitions Associate and managing his/her priorities;
  • Establishing and maintaining relationships with brokers and other Landlords/Sellers in a given community to assist in sourcing new deals;
  • Facilitating negotiations and developing strategies to successfully close transactions;

 

Skills, Education & Experience

  • Bachelors and/or Master's Degree in Real Estate, Finance, Economics, or a related field;
  • 3-5 years of experience in real estate acquisitions and financial analysis, private equity, real estate investments or investment banking;
  • Strong analytical and organizational skills;
  • Energetic, organized, creative, and highly motivated person with ability to learn and work independently and collaboratively.
  • Charismatic with pronounced interpersonal skills, and a unique ability to build strong and long-standing relationships.

 

Cultural Competencies

  • Modest & Secure
  • Independently Driven
  • Intelligently Collaborative
  • Never Satisfied
  • Relentless Commitment to Service

What You'll Get

Salary and Benefits

  • Compensation to commensurate with experience and industry standards
  • Excellent benefits package that includes a 401(k) match, medical/dental/vision, and much more
  • Opportunities to participate in professional and personal development programs

 

Bedrock is an equal opportunity employer.

 

The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, and may be modified periodically.

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