Vice President Acquisitions

CapRock Partners Management Inc is currently seeking a Vice President of Acquisitions to join their team in Fort Worth, Texas.  

Who we are: 

CapRock is one of the leading industrial investors and developers in the Western United States. We specialize in acquiring middle market value-add industrial properties, generally between $20M-$50M per acquisition and large-scale Class A logistics developments in California, Arizona, and Nevada. Since 2009, we have acquired, developed, or have in our pipeline more than 25,000,000 square feet of industrial real estate

KEY RESPONSIBILITIES

Mirroring the firm’s history of aggressive penetration of new markets (such as Inland Empire, Las Vegas, and Phoenix) CapRock seeks to become a force in Texas.  This role will have the opportunity to champion that growth and be responsible for both acquiring value-add industrial assets and land for development that is consistent with CapRock’s overall fund objectives and return profile. 

This role will work closely with Jon Pharris, co-founder and President, who recently opened the Texas office in Fort Worth.

Specific Responsibilities include:

• Continue to build CapRock’s presence throughout the primary markets of DFW and Austin with  a secondary interest in Houston and San Antonio.  This includes creating and maintaining key relationships with brokers, owners, tenants, lenders, and consultants.  
• Source and evaluate potential investment opportunities in alignment with the firm’s investment criteria, including value-add industrial properties, redevelopment opportunities, repositioning projects, and land suitable for development. This leader should have a demonstrable skillset of sourcing off-market acquisition opportunities.
• Conduct transaction negotiations to maximize return and provide direction on all project management activities to development and asset management teams.
• Lead all due diligence responsibilities including detailed analyses of property title and entitlement status, operations and related financial review, analysis of market, collateral, entitlement feasibility and competitive position and other typical due diligence issues.  This position will be able to leverage CapRock’s robust staff in Newport Beach, California but this person will be responsible for shepherding a project through the acquisitions life cycle from sourcing to closing.
• Lead and manage the acquisition process, including underwriting, crafting and negotiating Letters of Intent and ensuring proper due diligence.  Manage underwriting workflow of each project from the initial underwriting through letter of intent, contract stage, due diligence, investment committee memorandums, and the close of escrow.    
• Define optimal development programs based on specific market conditions, design characteristics, construction, financing and local environmental conditions.
• Identify structure, negotiate, and close on acquisitions for both new development opportunities and existing assets commensurate with the value-add fund profile.
• Structure transactions on terms that benefit and protect the company, the funds and limited partners.
• Perform site evaluations and make recommendations for site selections.
• Collaborate with various departments throughout the development process to ensure timely completion of all objectives and milestones.
• Develop feasibility modeling, including capital costs budgeting, pro forma return measurements and valuation methodologies.

PROFESSIONAL EXPERIENCE/QUALIFICATIONS

The ideal candidate will have a minimum of 10 years’ experience in commercial real estate and a track record in both value-add and development investments.  The candidate could come from a public industrial REIT, a private operator of industrial properties, a private equity real estate company, or a brokerage firm.  The candidate must have a strong base of relationships within the region. 

Specific qualifications include:

• Track record of successful investment in industrial real estate within the region, and the ability to source off-market value-add and ground up development opportunities.  
• Alternatively, the person could come from a brokerage background, assuming he/she has a fiduciary orientation and mindset of an owner, along with superior market knowledge.  
• An entrepreneurial and creative approach to real estate investment. 
• Intrinsic real estate value acumen and value creation capabilities. 
• Drive to succeed in a dynamic and fast-moving investment environment
• Process orientation and discipline to drive speed and efficiency without sacrificing underwriting or due diligence standards
• Creativity and understanding all elements of value creation relative to the development and repositioning processes.
• Comfort level with autonomy and independence sufficient to launch regional business. 
• Strong real estate transaction negotiation skills.
• Fluency with project entitlements and implementation of approval requirements. 
• Attention to detail and organization to assure efficiency and timeliness of getting deals completed.
• Create and present comprehensive investment committee memos to the Investment Committee.
• Coordinate with the Newport Beach office on lender packages and interacting with financial intermediaries on both new acquisitions and portfolio investments.
• Ability to effectively use technology, processes and communication to improve efficiency.
• Decisiveness and process orientation sufficient to anticipate and address opportunities and problems that arise during the course of a transaction.
• Unshakable integrity and a history of open, honest, team‐oriented service to all stakeholders of the organization.

Education

·       Bachelor’s degree with preference in RE or Finance.  10+ years in industrial investments, investment sales and/or brokerage.

What do we value? 

We take our values seriously, do these values inspire you? If so, you’ll love working here:

·       PEOPLE before projects 

·       Strive for EXCELLENCE 

·       FIDUCIARY responsibility is a sacred trust 

·       INTEGRITY always 

·       BLESSED to be a blessing 

·       Industrial real estate is a TEAM SPORT 

·       NO is not an answer

What We Offer:

·       Highly competitive base salary 

·       Yearly bonuses on the overall success of the company and additionally your individual contributions 

·       An Impressive, 100% employer-paid medical PPO, dental, and vision coverage for employee and eligible dependents 

·       15 days PTO 

·       10 paid holidays

·       A fun, collaborative, and team-based environment 

·       Quarterly birthday lunches and other department and company-wide team bonding events 

·       An abundance of snacks, fruit, coffee, and tea all day every day!