Acquisitions Associate

| Chicago

Convexity Properties (www.convexityproperties.com) - a DRW Company is a fully integrated real estate investment firm focused on giving value add properties new purpose. We take the lead role on many projects and partner with development and architecture firms on unique retail, residential, commercial and mixed use properties. Notable projects include the Three Arts Club, Viceroy Chicago, 4 East Elm and The Robey Chicago.

As an Acquisitions Associate, you will focus on analysis, modeling and planning work related to acquiring and developing properties. The opportunity to join the Convexity Properties team is unique for a number of reasons:
We have no outside investors or third-party capital. The equity required for our deals is funded entirely with in-house capital; there is no time spent preparing reports or presentations for institutional investors and we don’t scramble to raise capital during economic downturns. We spend 100% of our time sourcing opportunities and maximizing the value of our investments.
We are long-term owners and investors of real estate. We aren’t beholden to timing mandates to place capital or sell assets. Decisions are made exclusively on market fundamentals.

We operate in a fast-paced environment and we move quickly. Our diverse experience, particularly with projects that have predevelopment and entitlement complexity, coupled with our access to capital, allow us to move quickly and achieve superior risk-adjusted returns. We have the flexibility to take calculated risks, such as acquiring sites without entitlements in-place.

We are relationship-oriented. Convexity has built long-term relationships with its partners and consultants. We can leverage these relationships to act quickly when needed and they create opportunities for personal growth and development.

What you’ll do in this role:

  • Underwrite potential acquisition and development projects and prepare ad hoc financial analysis.
  • Collaborate on acquisition activities and capital structuring; assist in acquisition sourcing with the rest of the Acquisitions team and the Head of Investments.
  • Co-lead the acquisitions due diligence process.
  • Analyze trends in various geographic markets and conduct property specific market research and benchmarking.
  • Research and recommend opportunistic acquisitions strategies.
  • Assist the acquisition and development teams in all day-to-day responsibilities including transactional support, negotiation and project planning.
  • Develop and monitor project pro formas, financial statements, and schedules, including sensitivity analysis, variance analysis, and reforecasting to determine effects on the financial objectives of the project.
  • Collaborate with Convexity’s architecture and development teams to perform project cost budgeting, zoning analyses and project program design.
  • Limited travel may be required to tour sites and properties and oversee due diligence activities.

You’ll be right at home if you have:

  • A Bachelor’s degree or advanced degree in a related field such as Finance, Business Administration, Accounting, Economics,Engineering or Urban Planning.
  • 2-5 years of related real estate acquisitions, development or investment modeling experience.
  • A strong understanding of real estate underwriting and financial modeling concepts for both acquisitions and developments,including investment waterfall modeling.
  • Are comfortable calculating return metrics such as IRR and equity multiple.
  • A working knowledge of the development process and customary acquisitions and development diligence.
  • Familiarity with the hospitality/hotel and student housing asset classes (this is a plus).
  • A general understanding of common real estate documents such as Purchase and Sale Agreements, leases and loan documents.
  • Excellent organizational skills with emphasis on time management and communication, as well as superior computer skills, including proficiency with Microsoft Office (especially Word and Excel).
  • The ability to maintain professionalism in the face of deadlines; exhibit good listening, negotiation and problem solving skills; and to handle confidential information with discretion and trustworthiness.
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Location

Situated in Chicago's thriving West Loop, our HQ is convenient for Metra and CTA riders alike - and foodies looking for a bite on "Restaurant Row."

An Insider's view of DRW

How does your team reward individual success?

Our team acknowledges individual success and provides an environment to further new ideas. The team then ensures higher management is aware of your contribution. These accomplishments become part of the individual’s and team’s record at the end of the year. This approach I believe has led to a lot of innovations on my team.

Kumbi

Network Engineer

What kinds of technical challenges do you and your team face?

During my internship in Chicago, I built models in python, ones that are still used on that desk today. The next summer, I returned as a full-time trading analyst and picked up right where I left off. I focus on systematic research and the development and execution of new strategies for the foreign exchange (FX) options desk in Chicago.

Alex

Quantitative Trading Researcher

What are some things you learned at the company?

We’re free to choose the technology stack that best solves each individual problem, so the learning happens project to project. I started programming in C#, but changing teams exposed me to a new suite of languages that I’m now working in regularly

Carissa

Software Engineer

How do your team's ideas influence the company's direction?

Working on the risk team, I combine the principles of risk management and computer science. I help direct how we take risk across the organization, and ensure reliability with the use of really innovative tech.

Brawnski

Software Engineer

What are some social events your company does?

DRW is not all work, all the time. We offer a number of activities and events for all interests, like monthly wine tastings, sports leagues, hobby clubs and movie outings to name a few.

Michelle

Systems Team Lead

What are DRW Perks + Benefits

Culture
Volunteer in local community
Friends outside of work
Group brainstorming sessions
Pair programming
Open office floor plan
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Disability Insurance
Dental Benefits
Vision Benefits
Health Insurance Benefits
Life Insurance
Wellness Programs
Onsite Gym
Retirement & Stock Options Benefits
401(K)
401(K) Matching
Performance Bonus
Child Care & Parental Leave Benefits
Child Care Benefits
Generous Parental Leave
Flexible Work Schedule
Family Medical Leave
Adoption Assistance
Vacation & Time Off Benefits
Generous PTO
Paid Volunteer Time
Paid Holidays
Paid Sick Days
Perks & Discounts
Casual Dress
Commuter Benefits
Company Outings
Free Daily Meals
Game Room
Stocked Kitchen
Some Meals Provided
Happy Hours
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Relocation Assistance
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Professional Development Benefits
Job Training & Conferences
Tuition Reimbursement
Lunch and learns
Acme Co. hosts lunch and learn meetings once per month.
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Additional Perks + Benefits

Daily catered breakfast and lunch. On-site yoga and meditation classes. Trivia nights. Chair massages. Wine Tastings. Mentorship Program. Game Tournaments. Speaker Series and "Geek Lunches".

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