Job Description – Broadshore Capital Partners VP Western US Multifamily Investments (21000132)
Job Description
Broadshore Capital Partners VP Western US Multifamily Investments – ( 21000132 )
Description
COMPANY
Broadshore Capital Partners, a leading national real estate investment firm, delivers value creation strategies that leverage its expertise in multiple real estate product types, while maintaining its longstanding commitment to client service through a fiduciary mindset and transparency.
Headquartered in Los Angeles and formerly known as Lowe Enterprise Investors, Broadshore Capital Partners manages approximately $2 billion in assets and intends to grow aggressively in the next five-year period. Broadshore maintains a regional office in New York and has individuals located in Seattle, Phoenix and Denver. The company seeks a talented investment professional to lead its multifamily investment activities in the western US.
RESPONSIBILITIES
The individual to be based in based Broadshore’s headquarters office in Los Angeles, but location can be flexible for the right candidate. The Vice President will report to Brad Howe, Co-Chief Executive Officer for Broadshore Capital Partners. He/she will spearhead the firm’s multifamily investment activities in the western US and will be responsible for sourcing multifamily investment opportunities (portfolio and single assets), overseeing due diligence, acquisition underwriting, deal structuring and negotiating, and arranging debt financing, as well as preparing investment recommendations and making presentations to the firm’s Investment Committee and clients.
Additional responsibilities include:
- Leverage the firm’s network of industry contacts as well as his/her own network to identify investment opportunities.
- Provide leadership in the management of the multifamily vertical’s projects and activities in the western US, including working with Broadshore’s existing multifamily team, recruiting appropriate personnel and encouraging/promoting their professional development.
- Manage and develop internal resources connected to investments by delegating and assigning responsibilities so that staff can work independently within their areas of responsibility.
- When needed, support team members by being deeply involved in multiple business operations including land acquisition, project execution, leasing, property management and transaction of properties. Focus on supporting project activities that are most critical for success.
- Conduct oneself with the highest level of business integrity.
- Effectively communicate, both internally and externally.
- Represent Broadshore as a leading multifamily representative for any joint venture partners and/or external parties including consultants, civic and governmental authorities and public stakeholders.
- Lead the disposition of investments as determined by business plans and macro strategy.
Qualifications
The successful candidate will have 7–12 years of investment experience within the multifamily industry gained at a private operating company, REIT or real estate investment platform. He/she will have a demonstrated track record of investing successfully and will possess strong market relationships across the western US. Experience originating individual transactions directly or through joint venture partners is required.
The Vice President is expected to have strong underwriting, financial analysis, and negotiating skills. He/she must possess exemplary interpersonal skills and be comfortable as a senior member of the investment team. He/she will be attuned to risk management, portfolio diversification, and asset management.
Commanding respect and credibility in the real estate investment business, this individual will have an entrepreneurial approach, raw intelligence, sound investment judgment, and be highly motivated. Exposure to equity transactions, leasing and repositioning in addition to acquiring single assets and portfolios, are important criteria. Experience with value-add transactions and creative off-market opportunities is required.
In addition, the successful candidate will have a proactive, energetic, creative disposition and be capable of solving problems independently with resourcefulness, and through the effective management of others. The successful candidate will be strategic and hands on in orientation to ensure proper execution.
- Deep understanding of the many multifamily markets in the western US and an ability to source deals, which includes excellent relationships with leasing and investment brokers and local developers.
- Track record of success.
- Strong financial and analytical acumen with a keen understanding of value creation.
- Superior interpersonal skills:
- Ease in working with people up and down the organization hierarchy.
- Naturally adaptive to different audiences.
- Strong communication, listening, and negotiation skills.
- Experience working with capital partners and investors.
- Creative and innovative problem-solver.
- A collaborator at heart whose workstyle creates, builds, and relies on team.
- Ability to be entrepreneurial with support from a local team but also fit into a corporate company.
- Strong sense of integrity and ethics. Values entrepreneurialism. Demonstrates strong intellectual curiosity; always seeking new approaches and challenging the organization to new levels of success.
- Bachelor’s degree is required. An MBA or a Masters Degree in a related field is preferred.
COMPENSATION
Broadshore is prepared to pay a market competitive and performance driven compensation package.
About Broadshore Capital Partners
Broadshore Capital Partners is a nationwide real estate investment management firm with a 28-year history and nearly $2 billion in assets under management at its formation in 2019. The Los Angeles-based firm, formerly Lowe Enterprises Investment Management (LEIM), is an SEC registered investment advisory firm that invests in multifamily housing, senior housing, office and hospitality properties. It serves institutional clients such as pension funds and insurers by focusing on proactive management of properties whose value can be raised significantly through renovations, improved amenities and other upgrades.
Broadshore began as a subsidiary of Lowe Enterprises (Lowe), a real estate firm founded in 1972 by Robert J. Lowe. In 2010, Guardian acquired a 50% interest alongside Lowe and senior management, to focus on building a standalone real estate investment management company. In 2018, Guardian reached an agreement to increase its stake to 85%, with the remainder belonging to Broadshore’s senior management. Upon closing, LEIM was renamed Broadshore Capital Partners
The longstanding partnership between Broadshore and Guardian, which has its own extensive real estate investment platform, helps Broadshore position itself for growth with expanded resources and a streamlined ownership structure.
Broadshore plays an important role in Guardian’s overall plan to grow and diversify its revenue and earnings, in part by managing real estate investments for its own portfolio and for other institutional investors.