Senior Associate, Industrial Acquisitions

Overview

This Senior Associate, Industrial Acquisitions role serves as the firm’s industrial deal lead. You will source acquisition opportunities, build underwriting, run diligence, and guide deals through closing. The position involves direct responsibility for proprietary and off-market deal flow and works closely with capital formation efforts rather than handing equity responsibilities off to another team.

Location

Remote, with regular travel to target markets in Texas, Colorado, Nevada, or California.

Responsibilities

Sourcing & Market Coverage

• Build and expand relationships with investment sales, capital markets, and leasing brokers across target industrial markets to generate a consistent pipeline of on- and off-market opportunities.
• Develop direct coverage of owners, developers, and operating partners, emphasizing proprietary and off-market deal flow.
• Track submarket fundamentals (rents, vacancy, absorption, construction pipeline, land basis, and sale comps) and translate them into a defensible investment thesis.
• Represent the organization at industry events and with the broker community to build a known presence in target markets.

Underwriting & Investment Analysis

• Develop underwriting theses for each opportunity, including market rent and lease-up assumptions, NNN structures and reimbursement treatment, TI/LC and CapEx budgets, exit cap rate, and hold period.
• Build and stress-test cash flow models in Excel and Argus and be prepared to defend each assumption.
• Work through the capital stack with the Head of Capital Markets, including debt sizing and terms, joint venture waterfalls, and promote structures.
• Draft and own investment memoranda for internal investment committee and capital partner review, including returns analysis, sensitivities, and downside cases.

Capital Formation

• Partner with the Head of Capital Markets to match equity to each transaction, since capital is raised deal by deal.
• Build rapport with existing capital relationships, help grow the list, and make equity calls on deals you are running.
• Participate in capital partner meetings as the deal expert, respond to diligence requests, and support negotiation of joint venture economics and governance terms.
• Contribute to deal-level and strategy marketing materials (pitch decks and market overviews) for prospective partners.

Transaction Execution

• Manage deals from LOI through closing, working with purchase and sale agreements, joint venture agreements, and loan documents alongside outside counsel and firm leadership.
• Oversee full diligence, including title and survey, environmental and property condition, zoning and entitlement, lease abstraction and estoppels, and tenant credit review; coordinate third-party consultants.
• Track deal issues against schedule, escalate material findings and repricing decisions early with clear recommendations.
• Deliver a clean handoff to asset management and property management at closing, including the business plan, budget, and underwritten assumptions.

Asset Management Support

• Serve as a resource to asset management on acquired assets by answering questions related to underwritten assumptions, lease structures, and business plan intent.
• Support refinancings and dispositions, including pricing strategy, lender and broker selection, and execution alongside capital markets and asset management teams.

Working With the Team

• Direct analysts supporting your transactions: set expectations, review work product, and maintain the quality bar for modeling and memo writing.
• Contribute to acquisitions team growth as the business scales, including input on hiring and market coverage.

Platform & Process

• Maintain pipeline and documentation in shared systems (including Dealpath, Asana, and Google Workspace) so deal status, decisions, diligence artifacts, and open items remain current and visible to the team.
• Keep underwriting files, memos, and deal documentation in shared systems rather than local or personal storage.
• Contribute to process and technology improvements across the investment workflow.

Qualifications

Required

• 4+ years of commercial real estate investment experience, with meaningful time in acquisitions at an owner, operator, developer, or investment manager.
• Hands-on involvement in closed acquisitions, with clear ownership of your own workstreams. Ability to walk through specific transactions, including what you personally did and what you would do differently.
• Industrial experience, or adjacent product experience paired with a clear reason you want to focus on industrial. Familiarity with small-bay, flex, and IOS product is a strong plus.
• Strong financial modeling in Excel and working knowledge of Argus.
• Exposure to PSAs, joint venture agreements, and loan documents, whether negotiated directly or supported closely.
• A developing network of broker and owner relationships and a credible base to build from, with willingness to build coverage where it does not yet exist.
• Bachelor’s degree in real estate, finance, economics, accounting, or a related field.
• Demonstrated ability to work from shared systems of record rather than personal files, and comfort operating in a distributed team.
• Willingness to travel regularly to target markets.

Preferred

• Existing broker or owner coverage in one or more Western Sunbelt industrial markets.
• Any exposure to equity capital raising from institutional partners, funds, or family offices, or a clear interest in developing that skill.
• Experience at a vertically integrated firm where acquisitions works directly alongside leasing, construction, and property management.
• Experience directing or mentoring analysts.
• Working knowledge of CoStar, CompStak, Dealpath, HubSpot, Affinity, and comparable market and pipeline tools.

Compensation & Benefits

• Competitive base salary: $130k - $145k
• Annual performance bonus and a closed-deal incentive tied to transactions you lead
• Title, level, and compensation commensurate with experience
• Full details will be discussed during the interview process

Additional Information (Active Markets)

Active markets include the Western Sunbelt: major Texas markets, Las Vegas, Phoenix, Denver, and Central California.