VP of Real Estate Acquisitions

Associa•Richardson, TX

10h

About The Position

The Commercial Real Estate Development Division is a newly formed group within a financially robust, nationally operating parent company. The division will pursue real estate development opportunities, mainly focused on office and multifamily (including townhomes). The VP of Acquisitions will be a senior member of a small, entrepreneurial team. This position is responsible for sourcing, underwriting, and contracting all real estate acquisitions for the division, and for maintaining ownership of project financial models throughout the project lifecycle. This is a hands-on role for a candidate who thrives in a high-autonomy environment, has personally executed merchant-build deals from raw land through sellout, and is energized by building a development platform from the ground up. The right candidate kills more deals than they advance, presents directly to a sophisticated principal, and has the relationships and judgment to source deal flow others cannot access.

Requirements

8–15 years in commercial real estate development, such as multi-family & office, primarily responsibility for acquisitions and underwriting.
Demonstrated experience underwriting merchant-build development deals from raw land through sellout, including direct ownership of pro forma assumptions and outcomes.
Strong existing relationships with DFW-area land brokers and ideally direct landowner relationships in target submarkets.
Advanced financial modeling capability: must be able to build, defend, and update complex pro formas without supervision.
Experience negotiating land purchase agreements including option structures, feasibility periods, and closing contingencies.
Working knowledge of DFW residential entitlements, including by-right zoning, PD processes, and platting requirements.
Bachelor's degree required

Nice To Haves

MBA, MS in Real Estate, or comparable graduate work preferred.
Prior experience at a small or mid-sized DFW developer or homebuilder with attached residential product (townhomes, condos).
Experience presenting deal recommendations directly to a principal, family office, or sophisticated investor.
Texas real estate broker or salesperson license.
Experience with commercial office acquisition and build-to-suit underwriting in addition to residential.
Track record of having built or significantly contributed to a developer's pipeline from scratch.

Responsibilities

Build and actively manage a network of land brokers, listing brokers, and direct landowner relationships across DFW target submarkets.
Conduct off-market outreach through tax record analysis, direct landowner letters, and targeted submarket canvassing.
Maintain a master pipeline of active and prospective opportunities with current status, underwriting stage, and probability of closing.
Tour sites in person; develop and continuously refine submarket-level knowledge of pricing, comparable sales, and absorption.
Build and defend project-level financial models for all opportunities under consideration, including land basis, hard costs, soft costs, financing, sales pricing, absorption, and return metrics.
Conduct residual land value analysis to determine maximum supportable acquisition cost.
Apply consistent underwriting discipline; kill marginal deals quickly to preserve organizational focus and capital.
Maintain ongoing financial model through project life, actuals vs. pro forma, change order economics, sales pricing updates, financing model updates.
Negotiate Letters of Intent and definitive land purchase contracts, including option periods, feasibility windows, earnest money structures, and closing conditions.
Manage due diligence: title, survey, environmental (Phase I/II as needed), geotechnical, utility verification, zoning confirmation, and feasibility validation.
Coordinate with outside legal counsel on contract drafting, negotiation, and closing.
Identify and surface deal-killer issues early; problem-solve through closing while protecting the division's financial position.
Prepare and present deal memoranda to the Division Leader and Investment Committee with clear go/no-go recommendations.
Defend underwriting assumptions to a sophisticated audience, including the CEO and President of Capital.
Deliver monthly project reporting, tying actuals to original underwriting; communicate variance drivers clearly.
Contribute to the division's strategic direction: target submarkets, product positioning, deal criteria, expansion opportunities.
Build the division's underwriting infrastructure — standardized pro forma templates, deal memo formats, pipeline tracking systems.