Associate / Senior Associate of Acquisitions and Asset Management

Full-time • Washington, DC, US • 2w ago

Company Summary

Gravel Road Partners (“GRP”) is a real estate investment and development company based in Greenwich, CT and Washington, DC. GRP was founded in 2020 and invests in rent apartment projects with a focus on workforce housing. GRP creates workforce housing through the development and preservation of multifamily rental assets. We look to establish alignment between our investment objectives, our customers, and local communities. We often partner with local governments to rent-restrict units in exchange for incentives.

We pride ourselves on developing creative solutions to add supply to the underserved portion of the rental housing market and invest in supply constrained areas with strong long-term fundamentals. The company has expertise in executing public-private partnerships with local governments to ensure long-term affordability.

The firm’s founders have over 40 years of combined experience working in commercial real estate with a broad set of expertise including acquisitions, development, asset management, restructuring, and strategy on behalf of global institutions. The founding partners came together to form Gravel Road after serving as executive team members for a global workplace and hospitality company.

Position Description

GRP is currently seeking an Associate / Sr. Associate of Acquisitions and Asset Management to support the company’s growing portfolio. As a Senior Associate, you will report directly to the Founding Partners. The position can be in either the Greenwich, CT, or Washington, DC office. Travel to focus investment markets will be required.

Although this position emphasizes asset acquisitions and process management, it will also provide you with a foundation for professional growth in many areas including how to build and run a commercial real estate investment and development business. You will be working side by side with the firm’s Partners in a high-growth fast-paced environment that will give you exposure to all aspects of being an owner / operator.

Skills and Requirements

Demonstrated leadership ability
Bachelor’s degree (Master’s degree a plus) in real estate, finance or business
5+ years of professional experience in commercial real estate acquisitions, dispositions, asset management and/or development
Expertise with Microsoft Office suite (Advanced Excel)
Ability to manage multiple projects and meet deadlines in a fast-paced environment
Self-starter with strong interpersonal and communication skills, with experience in investment committee presentations; ability to think independently and anticipate next steps
Excellent verbal and written communication and organization skills
Strong analytical skills, attention to detail, and efficient task prioritization
Energy and commitment to work in fast-paced, entrepreneurial, and collaborative environment

Duties and Responsibilities

Acquisitions & Underwriting

Lead the underwriting for prospective real estate acquisitions by analyzing financials, market trends, and property level financials; assist in sourcing of new opportunities
Conduct due diligence, working closely with Partners, brokers, lenders, legal teams, and property managers
Preparing investment committee materials and presentations for Investment Committee and external investors
Monitor and evaluate market conditions to identify potential new investment market opportunities

Dispositions

Assist in the sale of assets, including financial modeling, marketing, and negotiations
Prepare financial models and return projections for potential dispositions
Support transaction management, including closing processes and investor reporting

Asset Management

Participate in weekly property management / leasing calls for each asset
Assist the SVP of Asset Management in the development of Annual Business Plans (ABPs) for all portfolio assets on a recurring annual basis
Support the navigation of various lender software platforms and assist on coordination with monthly loan payments, as well as miscellaneous other requests for information

Development / Construction

Work closely with Partners on new development strategy, design and execution
Participate in third-party stakeholder process as it relates to design and implementation of ground-up developments; weekly OAC calls
Assist in preparation of presentation materials and RFP response packages for competitive bid opportunities

General

Recommend process improvements and or new initiatives to take on
Draft/create new templates and models to expedite internal processes
Perform other duties/initiatives as requested by the Partner
Accommodate for a rotating work schedule to include occasional travel, nights/weekends and long hours

Offer Terms:

Title: Associate / Sr. Associate of Acquisitions and Asset Mgmt.
Start Date: Immediate
Base Salary: Commensurate with experience
Discretionary Performance Bonus: 15-30% of Base Salary
Vacation: 15 days (plus federal holidays)
Benefits: Company Health insurance
Performance Review: Year-end Performance Reviews (completed by Jan. 31^st)
Performance Bonus Payout: March annually
GP Co-Invest: Eligible to invest alongside General Partnership in new investment opportunities subject to Partner approval
Employee Incentive Pool (EIP): The EIP is an additional discretionary bonus pool that will be funded from asset-specific promotes earned by the company. This position will be eligible for participation in the EIP. The EIP will be payable subject to promotes being realized at the asset entity level.