Main Responsibilities of an Acquisitions Associate at Witnick Real Estate Partners
As an Acquisitions Associate at Witnick Real Estate Partners, Brian's primary responsibility is "underwriting, commercial real estate properties" through gathering property information like rent rolls and expenses to project cash flows and determine the building's value, ultimately leading to a bid if the purchase price aligns with their valuation. If Witnick proceeds to bid on the building, Brian also helps to "understand whether or not it's in the condition [they] thought it was in" to make sure the building is worth the valuation price.
Real Estate, Underwriting, Financial Modeling, Valuation, Acquisitions
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Brian McNulty
Acquisitions Associate
Witnick Real Estate Partners
Bentley University
Bentley University - Masters in Finance
Finance
Finance (Banking, Fintech, Investing), Real Estate
Real Estate
None Applicable
Video Highlights
1. Underwriting commercial real estate properties by gathering property information (rent roll, occupancy, expenses).
2. Projecting cash flows over a 5-7 year period to determine the value of a building.
3. Adjusting financial models based on building condition after inspection to finalize valuation and make a bid.
Transcript
What are your main responsibilities within your role?
My main responsibilities involve underwriting commercial real estate properties. This entails gathering as much information about the property as possible.
This includes things like the rent roll, occupancy rates, and property expenses. I also project future expenses based on comparable buildings we already own.
Ultimately, I project the cash flows over the next five to seven years to determine the building's value. Then I assess if my purchase price assumption aligns with the asking price.
If it does, we move forward by understanding the building's condition. We determine if we need to invest more or less money for renovations, adjust our model, and make a bid.