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Riaz Capital is an Oakland, California based fully integrated development, investment, and asset management company, focused on addressing the changing housing needs of the millennial generation. Our mission is that anyone who earns an area median income can afford a place they would love to call home by building transit-oriented high-quality apartments at an affordable price point for our residents.

Our vertically integrated development firm has operated in the Bay Area since 1977. Today, the Riaz Capital team manages over 1,500 units and has roughly 1,700 residences in the development or construction process, and possesses core competencies in development, construction, asset management, finance & capital markets to exercise control and speed of execution through every stage of the development cycle. In addition to new construction development, the firm has extensive experience in repositioning both urban and suburban workforce housing properties, and has executed several adaptive reuse projects. Our current activities are ~70% new construction and ~30% adaptive reuse and repositioning. Today, Riaz Capital has ~$500 million in real estate assets under management and with our current development pipeline, should reach $1 billion by 2024/25.

Our core new construction design is a 300 +/- square foot studio that incorporates all of the necessary functions of a housing unit. We have developed a design that works in a variety of building types: Townhouses, Mid-Rise Apartments, Substantial Rehab and Adaptive Reuse. Our current design and mission is a result of a years-long synthesis of our experience from micro-units, student housing, traditional multi-family, and co-living. Our units foster total privacy and security, which provides our residents with a sense of independence (and individuality) all within the fabric of a larger community. Each of our projects has an emphasis on architectural creativity, unique design, walkability, utilization of open space and personal privacy.

In addition to our development funds, we recently launched our newest investment vehicle, “Fund V”. In the last year, the market has seen a tremendous amount of distress in the form of rapidly rising interest rates, falling valuations, and illiquidity of debt markets. A record $1.9 trillion in commercial loans ($700B of which are multifamily) will need to be refinanced over the next three years. Many of these maturing loans originated during 2020-2021 when interest rates were at record lows and valuations were at all-time highs. In the current interest rate and cap rate environment, many of these loans are underwater and cannot be refinanced. Due to the attractive buying opportunities this presents, “Fund V” will be focused on the acquisition of value-add and distressed multifamily assets across the West and Southwest regions.

Overview

This is an exciting opportunity to work on the acquisitions team of a fast-growing real estate investment and development firm. The role will work directly with the Senior Acquisitions Associate and will gain exposure to the full acquisition and investment process. To assist in the deployment of Riaz Capital investment vehicles, the role will analyze new prospective acquisitions, ensure financial control for transactions already identified, as well as conduct thorough fundamental research to help shape the firm's overall strategy at the highest level of leadership. This position requires a very high level of analytical abilities which will be critical to ensuring financial accuracy across multiple deals at the same time. The role will also have cross-functional exposure to other teams such as our Investment, Development, Construction, and Business Development teams.

Primary Responsibilities

• Underwriting and Pro Forma Management:

• Own financial models for all value-add and development projects in the acquisition phase, including: initial underwriting, management of pro forma updates throughout the due diligence and overall transaction
• Validate all pro forma assumptions (revenue, expenses, financing, capex, etc.) using portfolio operating data, market research and other sources.
• Perform sensitivity and scenario analysis to further define risks on specific transactions or prospective markets.
• Collaborate on improvements to Riaz Capital model template(s) and underwriting tools as needed.
• Own and advocate for global assumption changes (financing, calculation updates, new functionality, etc.).
• Assist in ad-hoc and periodic preparation of reports and analysis pertaining to project returns, cash flows, schedule, or other strategic initiatives as needed.

• Deal Sourcing and Pipeline Management:

• Support the acquisitions team on the sourcing of new deals through new and existing broker relationships, deal sourcing software, and direct to owner outreach.
• Sourcing needs will include both development projects as well as Value-add and distressed Multifamily opportunities.
• Daily management and updates within deal pipeline software.
• Support on the creation of LOIs, PSAs, and deal structuring with Sr. Associate and transaction attorneys.

• Investment Memo and Deal Presentation:

• Create and assist in the ongoing management of investment memorandums and other deal related documents to be communicated both internally to the team, and externally to investors and lenders.
• Assist in the updating of investor reports as well as monthly investment meeting materials.

• Due Diligence:

• Support on all aspects of the due diligence period to identify and validate risks.
• Work with external consultants to order necessary reports, and support on the navigation of risks as they arise during the transaction.
• Organization and review of disclosures, documents, reports and all other due diligence findings.
• Conduct in-depth market research including but not limited to rent studies, sales analysis, supply pipeline, etc.
• Advocate for the entrance to new markets based on research completed.

Secondary responsibilities:

• Support on the disposition of assets, including but not limited to organization and packaging of “prep for sale” disclosures, and broker communications.
• Other tasks as assigned on an as needed basis to help achieve goals of the Acquisition Team
• Other tasks as assigned and in coordination with other departments to achieve greater company goals and objectives

Qualifications

• Bachelor’s degree in finance, accounting, real estate, or related field preferred.
• 2-4 years of transaction experience in analytical capacity - real estate acquisitions, lending, development, investment banking, or private equity.
• Strong Excel, underwriting, and analytical skills required
• Experience running pro forma analysis, manipulation of large sets of data, and use of advanced Excel formulas.
• Familiarity with investment concepts and a demonstrable willingness to understand complex financial structures and real estate investment terminology
• Strong business acumen, a high level of professionalism in deliverables, and demonstrates an understanding of the key financial drivers and dynamics related to the goals of an organization.
• Detail-oriented, highly motivated self-starter with a strong sense of urgency.
• Excellent written and verbal communication skills.
• High attention to detail and ability to manage multiple deadlines at once.
• Very motivated with a passion for real estate investing.

Riaz Capital is an equal opportunity employer and values diversity in the workplace.

Salary: Commensurate with experience

Status: Full-time

Start Date: Immediately

Location: Oakland Office 

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