Head of Acquisitions-Self Storage

Our client, a leader in the oil and gas industry, is seeking a Head of Acquisitions to lead their self-storage acquisitions. This is a full-time, onsite role based in Midland/Odessa, requiring attendance five days a week.

Position Summary:

We are seeking a seasoned professional in self-storage acquisitions and new development, with a proven track record in identifying prime locations, acquiring properties, and leading end-to-end development projects. This role requires expertise in acquisition strategies, market research, financial analysis, and project management for ground-up self-storage developments. The ideal candidate will have strong industry relationships, technical skills, and a deep understanding of the self-storage market’s unique demands.

Key Responsibilities:

New Development Expertise

• Site Identification and Acquisition: Ability to source and evaluate new sites for self-storage development, with a focus on high-demand areas and favorable market conditions.
• Project Management: Oversee all phases of ground-up construction, including permitting, regulatory compliance, budgeting, and construction milestones.
• Development Strategy: Develop and execute strategies to maximize the long-term value of self-storage facilities, incorporating elements like climate control, technology integration, and enhanced security.

Self-Storage Acquisitions

• Prior Experience: Demonstrated background in roles such as Real Estate Acquisitions Manager, Investment Analyst, or Asset Manager within the commercial or self-storage sectors.
• Transaction Management: Extensive experience managing multiple acquisitions or high transaction volume in self-storage properties.
• Market Analysis and Site Selection: Skilled in conducting market research, feasibility studies, and competitive analysis to identify target locations and high-potential markets.
• Due Diligence: Expertise in coordinating comprehensive due diligence, including financial, legal, and operational assessments to ensure secure and profitable investments.

Financial Analysis and Modeling

• Underwriting and Valuation: Proficient in underwriting self-storage properties, with skills in creating financial models to forecast Net Operating Income (NOI), Return on Investment (ROI), and Internal Rate of Return (IRR).
• Valuation Methods: In-depth knowledge of valuation methods such as cap rates, Discounted Cash Flow (DCF) analysis, and comparable sales analysis.
• Budget and Capital Management: Experience in managing project budgets, forecasting expenses, and optimizing capital expenditures, particularly for value-add acquisitions.

Deal Structuring and Negotiation

• Contract Negotiation: Skilled in negotiating purchase agreements, lease terms, and other contracts related to self-storage acquisitions.
• Deal Strategy and Financing: Proficient in structuring deals with a range of financing options (debt, equity, joint ventures) and value-add strategies.
• Industry Network: Established connections with brokers, agents, and lenders, allowing access to off-market opportunities and competitive intelligence.

Regulatory and Compliance Knowledge

• Zoning and Permitting: Familiar with local zoning laws, permitting processes, and regulatory requirements critical to self-storage development.
• Environmental and Risk Assessments: Experience with environmental due diligence, risk management, and compliance with federal and state regulations impacting self-storage.

Project and Asset Management

• Post-Acquisition Strategies: Plan and implement value-enhancing strategies post-acquisition, including additional revenue streams and operational optimizations.
• Operational Oversight: Knowledgeable in lease-up strategies, occupancy maximization, and tenant management to optimize facility performance.
• Property Improvements: Track record of managing capital improvements and renovations to increase property appeal and financial outcomes.

Relevant Technical Skills

• Software Proficiency: Familiarity with industry-standard tools, including Argus, CoStar, Yardi, and REFM, to streamline analysis and reporting.
• Data Analytics: Strong command of Excel, SQL, or other data tools to drive data-backed investment decisions and performance monitoring.

Qualifications:

• Education: Bachelor’s degree in finance, real estate, business, or a related field.
• Certifications: CCIM (Certified Commercial Investment Member), CFA (Chartered Financial Analyst), or other relevant certifications preferred.
• Experience Level: Minimum [X years] in real estate acquisitions, with a focus on self-storage and ground-up development.