Acquisitions | Irvine, CA | Full Time
Meridian is a full service commercial developer of and provider of real estate services.
Meridian invests in medical and general office real estate assets between $10 - 50M throughout California. Meridian is able to develop, renovate or repurpose existing buildings to meet its clients’ needs from 7,000-SF to over 100,000-SF. Meridian has completed numerous retail properties, clinics and medical practices, and general office buildings. We also seek to enhance the value of underperforming and underutilized medical office buildings through a strategic acquisition strategy. Meridian is an affiliate of the Marcus & Millichap Company, the parent company of a diversified group of real estate companies in the commercial investment, service and development industry. For more information, please visit www.mpcca.com.
Job Description: The Acquisitions Associate will be responsible for conducting both desktop and field research and analysis on prospective opportunities including build-to-suit prospects, value-add buildings, and/or site selection for build-to-suit clients. The Acquisitions Associate will also be involved in the due diligence process and market and financial feasibility analysis for real estate development projects.
Primary Duties and Responsibilities:
- Run financial models on build-to-suit opportunities and value-add opportunities using ARGUS and internal Microsoft Excel models.
- Analyze prospective deals and evaluate them relative to the respective market at both a desktop level (CoStar, Loopnet), as well as in the field (site tours, property visits).
- Periodically visit and analyze trade areas to understand the specific submarkets for supply and vacancy trends, comparable property identification, and potential acquisitions.
- Maintain a lease and sales comp database around targeted submarkets.
- Obtain/investigate lease and sale comps as needed for analysis, recommendation, and underwriting of prospective properties.
- Prepare Letters of Intent (LOI) and assist in negotiation of offers with brokers and owners.
- Prepare or assist in the preparation of pre-investment analysis, travel packages, and investment committee packages.
- Assist with miscellaneous business development, corporate finance, and marketing tasks to increase deal flow and operational efficiency.
- May perform other duties as required.
Required Education and Experience:
- Bachelor's Degree required
- Minimum of 3-years relevant real estate experience
- Excellent written and verbal communication skills
- Understanding of commercial real estate, finance, and capital markets (some design/architecture/construction experience is a plus)
- Self-starter with the ability to be detail orientated
- Knowledge of computer systems including MS Excel and Word, CoStar, Argus, and other relevant software
- Ability to plan, organize, and coordinate work assignments, and simultaneously coordinate multiple tasks
Supervisory / Management Responsibilities:
- Normal office environment.
Other Important Data:
- Must reside within reasonable commuting distance to Irvine, CA.