Director of Real Estate
About Common
Common is the nation’s leading residential brand offering convenience and community through coliving and traditional apartments. Our signature approach to end-to-end property management and technology offerings allows us to deliver unparalleled experiences across 27 buildings, 6 cities, and over 800 members. Common is the preferred choice for both residents looking for a stress-free and all-inclusive living environment, and for real estate owners seeking reliable, above-market returns. Launched in October 2015, we now operate homes in New York City, Chicago, Los Angeles, San Francisco, Oakland, Seattle, and Washington, D.C. and receive over 3,000 new member applications per week.
It’s an exciting time to be part of Common’s team. We challenge ourselves every day not just to think about ways to make city living better, but to activate on those ideas in meaningful ways. Our team is comprised of real estate professionals, designers, engineers, salespeople, marketers, client service representatives, and so much more. We work collaboratively, value self-startership, and embrace a “whatever it takes” mentality to ensure our work is done and done well.
Common was founded by General Assembly co-founder Brad Hargreaves and has raised over $65MM in venture funding.
About the Role
Common's unique business model seeks to provide members access to flexible housing in numerous cities. We partner with local real estate developers and investors by seeking out residential developments in up-and-coming neighborhoods while providing a compelling value proposition: a steady stream of income and the upside of property appreciation without the hassles of property management, leasing, and tenant relations. This structure has proven to be an extremely attractive investment opportunity, as hundreds of investors and developers are now pursuing real estate acquisitions and development opportunities with Common in mind.
Common is seeking a Director of Real Estate to build and manage our real estate pipeline in several markets across the US. The Director of Real Estate will be responsible for sourcing potential acquisition and partnership opportunities, building and managing relationships with local developers, brokers and investments groups, as well as running the deal process and financial analysis
This role will report directly to our Senior Director of Real Estate, who is based in New York City.
Responsibilities
- Identify, initiate and develop relationships with new real estate partners in a client-facing role in an effort to win new business
- Lead deal negotiations to partner with real estate owners and build Common homes
- Develop in-depth understanding of city and underlying sub-markets by running comparables analysis and broader market analysis
- Build Common’s presence in new and existing markets through speaking and press opportunities, and participation in industry events
- Analyze new partnership opportunities and prepare financial analysis on the viability of each transaction, incorporating a variety of capital, financing, and management structures
- Prepare internal and external presentation materials and documents (e.g., pitch materials, financial pro formas, business plans, management agreements)
- Facilitate coordination and communication between Real Estate and other teams at Common (e.g., work with Marketing to get monthly lease-up velocity information)
Qualifications:
- You are hungry to build a company, a brand, and a new asset class in real estate
- You have significant experience in real estate acquisitions, development, asset management or property management
- You have experience in business development or revenue generation focused roles
- You can produce financial analysis for real estate acquisitions and operating pro formas
- You are comfortable working in a fast-paced, dynamic startup environment without well-worn paths or established protocols
- BA/BS Degree
What We Offer
Common truly values our employees and wants to do everything to ensure that our employees are not only happy and professionally fulfilled, but also that they have the opportunity to be healthy. Because of this, we are committed to providing a number of affordable and valuable health and wellness benefits for our employees such as paid vacation and sick time, medical, dental and vision insurance, Company paid life insurance, Company paid STD/LTD Insurance, FSA + HSA options, commuter transit benefits, generous paid parental leave (up to 16 weeks!) and a 401K. Additional benefits such as Company equity, paid holidays, weekly team lunches + weekly happy hours, a fully stocked kitchen, flexible working hours, job training + development opportunities + a great wellness program are also available. And as always, we are regularly evaluating our offerings to ensure employees needs are being met.
We are committed to affirmatively providing equal opportunity to all associates and qualified applicants without regard to race, color, ancestry, national origin, religion, sex, marital status, sexual orientation, gender identity or expression, legally protected physical or mental disability, military or veteran status or any other basis protected under applicable federal or state law.