Job Description

ESSENTIAL DUTIES AND RESPONSIBILITIES: WE ARE LOOKING FOR A SELF-STARTING INDIVIDUAL TO COME TO RRP TO LEAD A DATA CENTER PLATFORM.  THIS POSITION WILL REPORT TO THE EXECUTIVE COMMITTEE AND HAVE SUBSTANTIAL ROOM FOR GROWTH.  THE INTENT IS TO HAVE THIS INDIVIDUAL GROW AS THE PLATFORM GROWS IN BOTH RESPONSIBILITY AND COMPENSATION.  THIS ROLE IS INTENDED TO BE A PRINCIPAL-LEVEL POSITION OVER TIME.  THE CANDIDATE MUST EXHIBIT THE ABILITY TO “THINK LIKE EQUITY”.  

PRIMARY RESPONSIBILITY IS TO EXECUTE RRP’S STRATEGIC GOAL TO GROW THE COMPANY THROUGH THE ACQUISITION OF COMMERCIAL REAL ESTATE ASSETS, PRIMARILY DATA CENTER ASSETS, LOCATED WITHIN ONE OR MORE TARGET MARKETS WITHIN RRP’S WEST COAST ACQUISITION REGION. THE VICE PRESIDENT HAS PRIMARY RESPONSIBILITY, AUTHORITY AND ACCOUNTABILITY FOR SOURCING, UNDERWRITING, NEGOTIATING, STRUCTURING AND CLOSING OF ACQUISITIONS IN ACCORDANCE WITH THE CURRENT INVESTMENT CRITERIA AND PORTFOLIO DEMANDS OF RRP. 

MARKET SELECTION: REVIEW AND EVALUATE MARKET DATA AND RECOMMEND MARKETS AND SUBMARKETS IN WHICH TO TARGET DATA CENTER ACQUISITIONS.

DEAL SOURCING: RESPONSIBLE FOR SOURCING POTENTIAL DATA CENTER REAL ESTATE ACQUISITIONS WITH SPECIFIC FOCUS ON CORE, CORE-PLUS, VALUE-ADD, OPPORTUNISTIC AND JOINT VENTURE DEVELOPMENT.

• IDENTIFY AND ANALYZE THE MAJOR RISKS AFFECTING AN INVESTMENT OPPORTUNITY.

• RESEARCH SUPPLY AND DEMAND FORCES IN THE MARKET.

• DEVELOP DETAILED AND ACCURATE FINANCIAL MODELS.BRIEF PRINCIPALS AND STAFF ON PROJECT DETAILS AND PREPARE PRESENTATIONS FOR THE INVESTMENT COMMITTEE.

• ANALYZING/VERIFYING PROJECT BUDGETS AND PRO-FORMA ASSUMPTIONS.

• OBTAINING AND CONFIRMING THIRD-PARTY REPORTS.

• VERIFYING AND SCRUTINIZING DUE DILIGENCE DOCUMENTATION.

• REVIEWING AND ASSESSING RENT AND SALE COMPARABLES.

• COORDINATION AND PARTICIPATION IN CLOSINGS.

NETWORKING WITHIN THE REAL ESTATE COMMUNITY IS A MAJOR PART OF THIS POSITION AND INCLUDES DETERMINING THE APPROPRIATE CONTACTS WITHIN MARKETS AND THE CULTIVATION OF THESE RELATIONSHIPS TO ENSURE THE SUCCESSFUL EXECUTION OF RRP’S LONG-TERM BUSINESS PLANS. ESSENTIAL CONTACTS TO BE ESTABLISHED AND MAINTAINED INCLUDE COMPETITORS, BROKERS, MANAGEMENT COMPANIES, DEVELOPERS, POTENTIAL SELLERS, DATA PROVIDERS AND SO FORTH. THE VP MUST MAINTAIN A CURRENT PIPELINE OF ACQUISITION CANDIDATES.

ACQUISITION PROCESS MANAGEMENT:

• PREPARE ALL MARKET ANALYSES

• DEVELOP A FINANCIAL ASSESSMENT AND PREPARE AN ACQUISITION PRO FORMA

• SUPERVISE ASSIGNED REAL ESTATE ANALYST

• NEGOTIATE WITH SELLER OR SELLER'S REPRESENTATIVES

• ASSEMBLE AND MANAGE THE DUE DILIGENCE TEAM

• IN CONJUNCTION WITH ASSET MANAGEMENT, DEVELOP A BUSINESS PLAN FOR THE EACH PROPERTY

• ASSIST IN OBTAINING THE BRIDGE AND/OR PERMANENT FINANCING

• PRESENT TO THE INVESTMENT COMMITTEE TO SECURE REQUISITE INTERNAL APPROVALS

• COORDINATE THE PREPARATION OF THE CLOSING SETTLEMENT STATEMENTS

• COORDINATE THE CLOSING

• PROVIDE APPROPRIATE POST-CLOSING TRANSITIONAL SUPPORT TO RRP’S ASSET MANAGEMENT GROUP AND THE PROPERTY MANAGEMENT GROUP AS THE RESPONSIBILITY FOR EXECUTING THE PROPERTY’S BUSINESS PLAN IS TRANSFERRED TO THOSE GROUPS.  HOWEVER, THE VP WILL HAVE A PORTION OF THEIR COMPENSATION BASED ON THE COMPARISON OF PRO FORMATS TO ACTUAL PERFORMANCE.

PROVIDE GUIDANCE AND MANAGEMENT OVERSIGHT: RESPONSIBLE FOR PROVIDING GUIDANCE AND MANAGEMENT OVERSIGHT, INCLUDING SETTING TASKS, APPROVING TRAVEL, EVALUATING THEIR WORK PRODUCT AND COMPLETING YEAR END PERFORMANCE EVALUATIONS.

INDUSTRY AFFILIATIONS:

PARTICIPATE IN NATIONAL TRADE ASSOCIATIONS THAT FURTHER THE BUSINESS ACTIVITIES OF RRP.  ATTEND REAL ESTATE CONFERENCES IN ORDER TO NETWORK WITH POTENTIAL SELLERS AND DEVELOPERS AND TO FURTHER INCREASE THE VICE PRESIDENT’S KNOWLEDGE OF MARKET FUNDAMENTALS AND ACQUISITION/DISPOSITION TRENDS WITHIN THEIR REGIONAL TERRITORY.

QUALIFICATIONS, SKILLS AND EXPERIENCE:

• FOUR-YEAR COLLEGE OR UNIVERSITY DEGREE REQUIRED, WITH A MASTERS OF BUSINESS ADMINISTRATION DEGREE (MBA) OR EQUIVALENT DESIRABLE.

• THE IDEAL CANDIDATE WILL HAVE 7 TO 10 YEARS OF REAL ESTATE ACQUISITION EXPERIENCE AND 3 TO 5 YEARS OF DIRECT RESPONSIBILITY FOR EVALUATING, SOURCING, PRESENTING TO THE EXECUTIVE COMMITTEE AND CLOSING CORE-PLUS AND VALUE-ADD DATA CENTER REAL ESTATE TRANSACTIONS.

• THOROUGH UNDERSTANDING OF FINANCIAL CONCEPTS (DCF, ROI, IRR, NPV, MOIC, COC, ETC.).

• A GENERAL UNDERSTANDING OF, AND DEMONSTRATED EXPERIENCE IN, AREAS OF REAL ESTATE FINANCE, PROPERTY VALUATION AND EQUITY INVESTMENT ANALYSIS.

• MUST HAVE A QUANTIFIABLE TRACK RECORD IN BUSINESS DEVELOPMENT IN THE COMMERCIAL REAL ESTATE EQUITY ARENA.

• MUST HAVE SOME EXPERIENCE AND PROFICIENCY IN ASSET MANAGEMENT.

• ABILITY TO WORK INDEPENDENTLY

COMMUNICATION SKILLS:

• EXCELLENT WRITTEN AND VERBAL COMMUNICATION SKILLS.

• STRONG ORGANIZATIONAL AND ANALYTICAL SKILLS.

• ABILITY TO EFFECTIVELY PRESENT INFORMATION.

• ABILITY TO RESPOND EFFECTIVELY TO SENSITIVE ISSUES.

• PROFICIENT IN ELECTRONIC COMMUNICATION AND ORGANIZATION.

• MUST HAVE DEVELOPED RELATIONSHIPS AND THE PROVEN ABILITY TO FURTHER DEVELOP, CULTIVATE AND MANAGE HIGH-QUALITY RELATIONSHIPS WITH SELLERS, LENDERS AND INTERMEDIARIES IN THE COMMERCIAL REAL ESTATE INVESTMENT INDUSTRY.

• MUST WORK WELL IN A MULTI-FUNCTIONAL COLLABORATIVE ENVIRONMENT AND DEMONSTRATE A STRONG WORK ETHIC AND COMMITTED CLIENT SERVICE.

• MUST BE A HIGHLY COMMUNICATIVE LEADER AND TEAM PLAYER.

REASONING ABILITY: 

• ABILITY TO COMPREHEND, ANALYZE, AND INTERPRET COMPLEX DOCUMENTS.

• ABILITY TO COMPREHEND LEGAL LANGUAGE NECESSARY TO THE ACQUISITIONS PROCESS.

• ABILITY TO SOLVE PROBLEMS INVOLVING SEVERAL OPTIONS IN SITUATIONS.

• REQUIRES ADVANCED ANALYTICAL AND QUANTITATIVE SKILLS.

OTHER SKILLS OR ABILITIES: 

• INTERMEDIATE TO ADVANCED SKILLS WITH GOOGLE BUSINESS PROGRAMS.

• ADVANCED KNOWLEDGE OF EXCEL & ARGUS.