Acquisition Officer Real Estate Equity

Location Designation:Hybrid - 4 days per week

New York Life Real Estate Investors ("NYLREI"), as part of New York Life Investment Management, is one of the country's largest asset management firms and is one of the most active real estate investors, including commercial first mortgage lending for its general account, various real estate equity strategies, and a capital markets group acquiring real estate equity and debt securities.

New York Life's real estate group is headquartered in their New York City office with regional offices in San Francisco, Dallas, Chicago and Atlanta. The real estate equities team manages and acquires assets on behalf of a number of different investors including domestic and foreign, single/independent and co-mingled accounts. The largest investor for which the equities team manages and acquires assets is the New York Life General Account. From this range of investment mandates, acquisition activity for the transactions team includes core, value add, and opportunistic investments on both a direct and/or join venture basis. These strategies invest across both the traditional major real estate asset classes (multifamily, industrial, retail and office properties) as well as sub-classes such as self-storage, medical office properties and industrial outdoor storage. Investments are primarily through direct property acquisition as well as joint ventures and completing "distressed" transactions. NY Life Real Estate Investors benefits from these multiple investment strategies, always being in the market, the synergies of its team and its different lines of real estate activity, and a strong commitment to its culture.

Recognized as one of Fortune's World's Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by its Foundation. For more information on NY Life, visit its LinkedIn, or the Newsroom and the Careers page of www.NewYorkLife.com and for more information on New York Life's real estate investment business, visit https://www.newyorklife.com/realestateinvestors.

The Director, Transactions position will be based in the Dallas office. He/she will be primarily responsible for sourcing and closing real estate investment opportunities in Texas and Arizona. This position will report to the Head of Transactions, Page Gostling (who is based in the New York office) and be part of the NYLREI equity team nationally.

The key responsibilities of the Director - Transactions will be as follows:

• Solicit, develop, and maintain relationships with brokers, owners, developers, operators, and professional service providers to "be in the market" to generate investment opportunities.
• Source new property acquisition opportunities and develop a "hit list" of prospective new acquisitions and new investment partners.
• Know the target markets within assigned geography, understand market drivers, supply/demand, employment and other factors to support overall strategy and specific opportunities to the company.
• This person will have responsibility for coordinating all aspects of the acquisition process as it relates to their investments, which includes:
  • Preparation of a market analysis.
  • Development of a financial assessment and acquisition pro forma.
  • Prepare and present investment packages to the NYLREI Investment Committee.
  • Negotiate with seller or seller's representatives on all aspects of letters of intent and purchase and sale agreements.
  • Initiate and manage due diligence efforts associated with new acquisitions including the coordination of all internal and external consultants.
  • Work with Asset Management Group on developing a business plan for each new acquisition.
  • Negotiate and secure project-level debt for new acquisitions.
  • Coordinate the preparation of closing/settlement process.
• Will have some involvement tracking the performance of the asset through an investment hold period; will not have direct responsibility but will continue to "care" as the owner through the asset's lifecycle.
• Work with Head of Transactions and Asset Management to help coordinate and assist in property dispositions.
• Participate in the overall NYLREI business and to grow the business and footprint in the market. Meet with investors and lenders as appropriate to demonstrate NYLREI's investment credibility and strategy. Represent the company within the real estate industry and in institutional investment circles. Participate in national and regional trade associations that further NYLREI's business.
• Provide general direction to the real estate department relative to local trends in real estate investment, underwriting, new product ideas etc.
• Ongoing interaction with the Head of Transactions, Portfolio Management and Asset Management departments to ensure that fund strategy is consistently maintained.

Experience: The candidate should have a minimum of five years in a lead acquisition role in commercial real estate and have a minimum of 10 years institutional real estate experience.

Education: Undergraduate degree is required. An MBA, or other relevant graduate degree is an added benefit, but not required.

• Demonstrated experience investing in multiple property types (not just experience in one asset type) and strong relationships in the market, most notably Texas and Arizona.
• Should have a demonstrated track record in the real estate transaction process from sourcing opportunities through closing. This person will likely have been on the principal side of the business but will consider candidates from other transactional disciplines.
• Should have some understanding of various real estate sectors nationally as well as have a depth of knowledge in Texas and Arizona. Will bring a strong existing network and presence among target market property owners, brokers, and consultants in one or both of these markets.
• Must have experience sourcing acquisitions as well as executing transactions. Should be able to articulate a specific approach to building a business plan to acquire properties. Should have a track record of finding "off-market" transactions under the radar screen (not just finding brokered "auction" deals).
• Strong real estate valuation and underwriting skills with a strong attention to detail.
• Experienced in the application of leverage.
  • Capital markets experience with the ability to structure transactions at different points in the capital stack, in addition to straight acquisitions would be a positive, although not essential attribute.
  • This could include experience structuring mezzanine debt, whole loans, equity joint ventures, etc.
  • Experience with structuring and modeling joint ventures a plus.
• Must have desire, energy and willingness to spend a significant amount of time out of the office reviewing markets and properties and meeting face-to-face with property owners, brokers, and others. Must be highly organized, motivated, and able to source and manage a full pipeline of potential transactions.
• Must bring a deep understanding of the economics, market fundamentals, operations and marketing/positioning of real estate; preferably in office, industrial, retail, and multifamily properties. The candidate should bring a strong analytical orientation to the position. Will know how to value properties, run numbers (although he/she will have access to analytical support), and evaluate markets and opportunities. Should be able to effectively present and defend opportunities internally.
  • The candidate should have experience with core-plus, value-add, and development transactions, not just acquiring core, stabilized assets. Must demonstrate ability to see value in underperforming assets.
  • Will ideally have had prior experience working within the dynamics of a Taft Hartley transactions and the associated requirements of working with union labor.
• The candidate should be a strong negotiator who can balance achieving the best transaction terms for the company with building long-term relationships in the marketplace.

• Highly motivated with a strong record of academic and professional achievement.
• The successful candidate will bring a current, state-of-the-art institutional quality industry perspective and experience to this position.
• This person will be willing to "roll up his/her sleeves" to get the job done. This person will ultimately work with analysts/associates but will have to handle much of his/her work directly.
• The candidate should have the attitude of a principal, insightful, creative and entrepreneurial. While this is a transactional person, this person should value the long-term performance of the assets they acquire.
• Strong relationship builder, both externally within the marketplace and internally within the firm.
• Will be able to hold their own in a fast- paced, intellectually challenging environment and defend their recommendations.
• Motivated, self starter. Very highly developed organizational skills.
• Strong communications skills, both written and verbal.
• Excellent presentation skills. Thoughtful listener. Direct and open communication style.
• Adheres to the NYLREI values and culture of commitment, collaboration, drive towards excellence, honesty, integrity, respect for others and trust.

Pay Transparency

Salary Range:$165,000-$215,000

Overtime eligible:Exempt

Discretionary bonus eligible:Yes

Sales bonus eligible:No

Actual base salary will be determined based on several factors but not limited to individual's experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.

Our Benefits

We provide a full package of benefits for employees - and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work. Click here to discover more about our comprehensive benefit options or visit our NYL Benefits Site.

Our Commitment to Inclusion
At New York Life, fostering an inclusive workplace is fundamental to who we are and how we serve our communities. We have a longstanding commitment to creating an environment where individuals can contribute their best and succeed together. This foundation is rooted in our core values of humanity and integrity, ensuring that every employee feels valued and supported. By embracing a broad range of perspectives and experiences, we achieve greater success and fulfill our promise of providing financial security and peace of mind to families across all communities. Click here to learn more about New York Life's leadership in this space.

Recognized as one of Fortune's World's Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by theFoundation.We're proud that due to our mutuality, we operate in the best interests of our policy owners. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.

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Job Requisition ID:91819