Position: Vice President, Acquisitions and Development
Location: Rhode Island (Must be willing to relocate to Rhode Island if not local)
The Vice President, Acquisitions and Development will be an integral member of the Magna development team focused on the creation of value through the acquisition, development and sale of hotel assets. The ideal candidate will have over seven years of experience on the hotel investment side of the business and have an established network within the industry. We are looking for a team-oriented individual who is effective at deal sourcing, networking and structuring real estate transactions. This individual must be able to develop strong relationships within multiple facets of the industry including: owners, lenders, brokers and investors. In addition to strong communication skills, this individual will be able to efficiently and professionally execute deals from sourcing through closing.
- Generate deal flow through both brokered and off-market sources.
- Maintain and develop a strong network of contacts throughout the hospitality industry.
- Lead negotiations of transaction related agreements including: purchase and sale, loan documents, franchise agreements, leases etc.
- Build internal consensus and present opportunities to the internal investment committee.
- Work with the operations team to solicit input for both underwriting, ongoing asset management including: Revenue Management, Operations, Sales & Marketing, HR, and Finance.
Magna is a vertically integrated private equity fund focused exclusively on the hospitality industry. Magna was formed in 1998 and has over $3.0 billion in AUM. Unlike many other hotel investment firms, Magna is responsible for every aspect of the investment process, commencing with sourcing the investment opportunity, conducting the diligence, and capitalizing the transaction. From there, Magna is responsible for both the oversight of the hotel construction and/or renovation of its properties, as well as the day-to-day oversight of hotel operations. Magna also undertakes responsibility for executing each hotel’s disposition strategy. Thus, Magna not only sets the investment strategy, it is responsible for all points of execution of that strategy
Magna Hospitality Group is the operating company responsible for oversight of all of Magna’s investments. MHG is comprised of more than 70 professionals covering a multitude of disciplines. MHG is organized under numerous operating structures with a specific niche on urban/infill select service and lifestyle hotels.
Magna Capital Management is the investment company responsible for fund raising, investment, and management of Magna’s family of funds. MCM is currently deploying its sixth discretionary equity fund, a $255 million fund.
A competitive base salary and bonus structure commensurate with experience will be offered. Additionally, future investment opportunities in Magna’s investment funds may be extended for candidates that are able to prove they are effective within this role.
- Hospitality / Entertainment
7+ to 10 years
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