What are the responsibilities and job description for the Experienced Real Estate Acquisition Professional position at Prospect Capital?
The Firm
Founded in 1988, Prospect Capital is an alternative asset management firm with $11.9B of assets under management, including permanent capital. Prospect has a long-term, value-oriented approach that employs fundamental bottoms-up research to identify investments that offer attractive risk and reward. Prospect pursues multiple strategies in the US, including direct lending, private equity, real estate private equity, and structured credit.
Prospect's real estate private equity business is housed within National Property REIT Corp. ("NPRC"), a private, wholly-owned REIT that has invested over $3.5 billion in multifamily, student housing, and self-storage properties.
With offices in New York City, Connecticut, and Florida, the firm is comprised of 140 experienced professionals who value entrepreneurship, intellectual rigor, hard work, and continuous improvement.
The Position
- Originate and source off market value-add multifamily, student housing, and self-storage investment opportunities
- Develop and maintain relationships with brokers, sellers, and owners through monthly, quarterly, or semi-annual calls and in-person (or Zoom) meetings
- Lead deal team in conducting due diligence, underwriting, and closing equity investments in real estate across various asset classes, with an emphasis on multifamily
- Coordinate internal investment approval process, including creating and presenting detailed memos to the Investment Committee for deal approval
- Identify, negotiate with, and optimize potential joint venture manager relationships
- Manage existing portfolio, including workstreams related to refinancings, dispositions, and oversight of joint venture manager relationships
- Capital raising and research initiatives, including private fundraising
Desired Skills and Experience
- 10 years of experience in real estate (preferred demonstrated focus on multifamily joint venture equity investments in the US real estate market)
- Demonstrated track record of excellence in academic, professional, and personal endeavors
- Knowledgeable about market trends in US real estate asset classes, especially multifamily real estate and the relevant financing programs relating thereto
- Strong verbal and written skills - incoming professionals are expected to interact every day with internal and external stakeholders
- Proactive team player with excellent multitasking skills and a positive attitude
- Confident, outgoing personality
- Self-starter with an entrepreneurial mindset and intellectual curiosity
- Attention to detail, organized
The anticipated annual base salary range for this position is $100,000 - $300,000 plus annual discretionary performance-based bonus. Actual pay may be adjusted based on experience and performance.
In addition to the base salary, the hired professional is eligible for comprehensive benefits, including 100% employer-paid premiums for medical, dental, vision insurance, life insurance, and AD&D. You'll also have access to pretax benefit accounts, including FSA, HSA, and Commuter accounts. Our perks go beyond the basics with a mentorship program, daily in-office paid breakfast and lunch, company-sponsored ski and sailing trips, and regular happy hours. Details of participation in these benefit plans will be provided if an employee receives an offer of employment.
Salary : $100,000 - $300,000
