Associate - Acquisitions

OTH Capital

Analyst or Associate

Company Description

OTH Capital is an Austin-based private equity firm with a focus on the acquisition and development of residential real estate. Leveraging a fully-integrated investment, property management and construction platform tied together with best-in-class technology, we have developed a proven approach that we apply to each and every investment.

Role Description

This is a full-time in-person role as an Analyst or Associate at OTH Capital. The position will support the asset management and acquisition team(s) in executing end-to-end investment process as well as managing relationships with key vendors and stakeholders. This role offers significant growth opportunities within the firm, providing a pathway for career development within real estate.

Market Research & Competitive Analysis

• Maintain deep-dive analyses of the firm's target multifamily markets tracking pricing, occupancy trends, supply pipelines, and submarket dynamics
• Monitor macroeconomic indicators including population growth, employment trends, wage growth, and migration patterns to inform investment theses
• Research legislative and regulatory developments impacting returns, including property tax abatement changes (HB 2071), zoning updates, and rent control discussions
• Analyze demographic shifts and household formation trends to identify emerging investment opportunities and risk factors
• Track competitive properties and comps to establish valuation benchmarks and pro forma assumptions

Underwriting & Financial Modeling

• Build and maintain comprehensive acquisition models including purchase price analysis, renovation budgets, operating proformas, and multi-year cash flow projections
• Underwrite value-add business plans with detailed unit-level renovation scopes, phasing strategies, and rent premium assumptions
• Model various capital structures including joint venture waterfalls, preferred returns, promote structures, and various financing scenarios
• Stress test key assumptions including rent growth, expense inflation, exit cap rates, and hold period sensitivities
• Analyze ground lease structures and their impact on financing capacity, refinance ability, and exit valuations

Due Diligence Coordination

• Manage comprehensive due diligence processes including physical inspections, environmental Phase I/II assessments, property condition reports, and title/survey review
• Coordinate third-party reports including appraisals, market studies, seismic/structural assessments, and insurance analyses
• Review rent rolls, lease files, operating statements, capital expenditure histories, and vendor contracts
• Assess regulatory compliance including FEMA flood zone designations, elevation certificates, building code violations, and permit histories
• Identify property-specific risks including deferred maintenance, abandoned utilities/laterals, access easements, and environmental concerns

Financing Strategy & Execution

• Source and evaluate acquisition financing options including agency debt (Fannie/Freddie), bridge loans, and construction-to-perm structures
• Prepare lender packages including investment memoranda, financial models, market overviews, and business plan narratives
• Coordinate loan application processes, due diligence responses, and closing requirements with debt advisors and lenders

Legal & Transaction Management

• Review purchase and sale agreements, joint venture operating agreements, and partnership documents
• Coordinate with legal counsel on entity formation, title exceptions, estoppel certificates, and closing document review
• Draft and negotiate ancillary agreements including promissory notes, guarantees, and intercreditor arrangements
• Manage transaction timelines from LOI through closing, tracking milestones, contingencies, and funding requirements
• Prepare master service agreements for property operations including security services, property management, and construction contracts with appropriate liability protections

Investment Committee Support

• Prepare investment committee materials including executive summaries, market narratives, comp analyses, and risk assessments
• Present acquisition opportunities with clear investment theses, return profiles, and sensitivity analyses
• Synthesize feedback and iterate on underwriting models to reflect committee guidance
• Track portfolio-level metrics and compare new opportunities against existing assets and return hurdles

Qualifications & Experience

• 2-4 years of experience in multifamily acquisitions, investment banking, private equity real estate, or related roles
• Advanced financial modeling skills with expertise in real estate pro formas, DCF analysis, and scenario planning
• Strong understanding of multifamily operations, value-add renovation strategies, and property-level economics
• Familiarity with debt and equity financing structures across the capital stack
• Proficiency in Argus, Excel financial modeling, and real estate databases (CoStar, RealPage, etc.)
• Detail-oriented with ability to manage multiple transactions simultaneously under tight deadlines
• Excellent written and verbal communication skills for investor presentations and lender negotiations
• Bachelor's degree in Finance, Real Estate, Economics, or related field

What We Offer

• Direct exposure to institutional-quality multifamily investments across high-growth Texas markets
• Hands-on experience across the full investment lifecycle from sourcing through asset management
• Collaborative environment working alongside experienced principals and operating partners
• Clear path for professional development and increased transaction responsibility
• Competitive compensation including base salary, performance bonus, and potential carry participation

Compensation and title will vary based on demonstrated job related skills, knowledge, experience, education, certifications, etc.

Benefits & Compensation

• Competitive base salary commensurate with experience
• Performance-based bonus opportunities
• Comprehensive health insurance (medical, dental, vision)
• 401(k) retirement plan
• Flexible schedule
• Paid time off and paid sick leave