Multifamily Acquisitions

Hawthorne Residential Partners is a privately held, North Carolina based apartment investment, development and management company with over 35,000 apartments located throughout the Southeast and Texas.   Over the past 10 years, Hawthorne has completed over $2.1+ billion of transactions and has been one of the most active apartment investment companies in the Southeast.    Hawthorne’s current investment strategy is focused on development and acquiring value-add, core and core-plus multifamily in our target markets.

SUMMARY OF FUNCTIONS: 

This position will be responsible for sourcing multifamily acquisitions in the primary and secondary markets of the Southeastern US with a focus on Value-Add, Core and Core Plus opportunities.    This role’s primary function will be networking extensively with owners, developers, brokers, investors to source acquisition opportunities, mainly with an “off market” focus. 

This role will be supported by Hawthorne’s Investment Management team which will be responsible for underwriting, contract negotiations, due diligence, and closings, allowing this role to focus exclusively on sourcing acquisitions.  

LOCATION:  This role will be located in Charlotte.

MAJOR DUTIES AND RESPONSIBILITIES

• Sourcing multifamily acquisitions (off market emphasis) utilizing among other items:
  • Candidate’s existing relationships and Hawthorne’s relationships with owners, developers, brokers, investors, lenders in the Southeast.
  • Candidate’s strong knowledge of primary and secondary markets in the Southeast.
  • Utilizing Hawthorne’s industry software/databases to identify potential opportunities
  • Collaborating with Hawthorne’s Property Management team to identify potential property and submarket opportunities.
• Proactively establishing and maintaining strong relationships with multifamily owners, developers, brokers, investors
• Maintaining exceptional knowledge of all aspects of Hawthorne’s Target Markets, including: economic data, demographics, apartment market/submarket metrics, sales comps, rent growth, occupancy trends, operating expenses, development pipeline, barriers to entry.
• Ensuring the acquisition database and pipeline report are updated weekly
• Reviewing and providing input on proforma assumptions, historical financials, rent rolls, historical/future capital expenditures
• Providing input on Investment Committee and Investor/Lender Presentations

SKILLS, KNOWLEDGE AND PERSONAL CHARACTERISTICS:

• Minimum 7+ years of experience with direct responsibility for multifamily acquisitions or brokerage in the Southeast
• Extensive relationships with multifamily owners and developers in the Southeast
• Strong knowledge of the primary and secondary multifamily markets in the Southeast
• Exceptional communication skills
• Highly motivated, self-starter who can work well both individually and as a part of a team
• Ability to manage multiple, competing priorities in a fast-paced environment.
• Strong understanding of key investment metrics (Cap Rates, Internal Rate of Return, Cash on Cash Return, Return on Cost, Equity Multiple)
• Strong proficiency with MS Excel
• Ability to understand and operate complex apartment and partnership financial models (in excel)

 ORGANIZATIONAL RELATIONSHIPS: Reports directly to one of the Hawthorne Principals

 SUPERVISORY RESPONSIBILITIES: This position does not directly supervise others.

 FLSA STATUS: Exempt

 TRAVEL:  Must be able to travel 60%+ with extensive overnight travel.

 COMPENSATION:    COMPETITIVE