Position Summary:
The Associate will assist in the acquisition and asset management of real estate investments, including retail, office, mixed-use, and residential assets. The role requires a high level of familiarity with real estate financial analysis and leasing concepts as well as strong analytical, technical, writing and presentational skills. The candidate will underwrite new transactions, prepare investment memoranda to the Investment Committee and provide transaction support throughout due diligence and closing. The Associate will assist in various aspects of asset management and portfolio management operations to support major decision making. The successful candidate will be exposed to a wide range of commercial real estate investment strategies in a fast-paced and challenging environment.
Essential Functions:
- Assist in the underwriting and due diligence of new CRE related investment opportunities
- Perform complex financial analyses utilizing Excel and Argus software, including cash flow projections and sensitivity analyses
- Gather and evaluate economic, demographic and market data, including rent comparables and sales comparables
- Collect, review, and summarize property diligence reports, leases, legal documents, financial and operating information, property condition reports, and other due diligence materials.
- Prepare thorough investment packages, effectively communicating investment recommendations, business plan scenarios, and support for underwriting assumptions
- Provide support to asset management initiatives by conducting financial analysis and developing and executing business plans
- Assist with preparation of quarterly asset management and reporting deliverables
- Participate in the engagement and direction of third-party property managers in development and implementation of operating budgets and business plans
- Lead and/or assist with ad hoc strategic projects
Required Knowledge, Skills and Abilities:
- Strong quantitative skills and demonstrated analytical and problem solving ability
- Advanced cash flow and investment modeling skills (Excel and Argus)
- Demonstrated ability to interpret data and draw conclusions
- High attention to detail and accountability in analytical assessments
- Excellent verbal and written communication/presentation skills and the ability to interact professionally within a diverse group
- Hard-working and committed to producing great end results
- Ability to thrive in a fast paced, rapidly changing work environment with many competing priorities
- Positive attitude with the ability to manage change effectively
- Demonstrate ability to prioritize work and manage time in a deadline-driven environment
- Is a self-starter and proactive, with the ability to multi-task
- Ability to work autonomously and as a member of a team
- Willingness to learn
- Is organized and process oriented
- Strong business judgment and decision making
• Demonstrate a high level of professionalism that appropriately represents the organization • Harbors an intellectual curiosity around the business
Compensation:
- Base Salary: $130,000.00 - $160,000.00
- The posted base salary is based on New York, NY. Compensation is subject to change based on experience or if hired elsewhere.
- Base salary only includes the base annual wage, base salary does not include other forms of compensation, such as commissions or bonuses.
- Base salary also does not include other forms of compensation or benefits offered in connection with this advertised job, such as: employer-provided insurance, paid or unpaid time off work, the availability of or contributions towards retirement or savings funds, such as 401(k) plans, severance pay, or overtime pay.
Education:
- Bachelor’s Degree from an accredited institution required
- Degree in Business, Finance, Real Estate, Economics, or related area preferred
Experience:
- 2-5 years of experience in a structured analytical work environment. Prior experience at a private operator/developer, investment bank, consulting firm, REIT, real estate private equity firm, or related industry is required, as well as experience interpreting real estate financial statements including budget comparisons, income statements, cash flow statement, and rent rolls
- Prior knowledge of underwriting, due diligence and asset management processes is strongly preferred
Other Skills:
- Proficiency in Word, Excel, Outlook, and PowerPoint (Microsoft Office Suite)
- Advanced Excel knowledge, including ability to summarize data via formulas, lookups, Pivot Tables, conditional formatting, etc.
Work Environment:
- This job operates in a professional office environment
- This position’s hours vary depending on business activity
- This position does not require frequent travel, less than 10%. Travel would be domestic
Desired Organizational Competencies:
- Accountability - Demonstrates a commitment to and responsibility for accomplishing individual, team and business objectives
- Drive - Consistently achieves challenging goals/objectives, and demonstrates an ability to create value and maximize results
- Planning- Identifies business needs, problems and risks proactively, and develops well founded plans that specify strategies, actions/solutions, risk mitigants and desired results
- Critical Thinking / Judgment - Commits to an action after developing alternative solutions that are based on logical assumptions and factual information and that take into consideration resources risks and organizational values
- Adaptability - Exhibits the capacity to successfully change and evolve one’s actions, opinions and behavior as a result of changing priorities or environment
- Communication Skills - Proactively communicates in the appropriate medium with clarity and focus at the right level to ensure delivery has the appropriate impact
- Influential Leadership - Leads with confidence and conviction, and is able to establish credibility, trust, and respect among team members
- Team Work - Fosters collaboration among team members and business partners, and uses capabilities to achieve team goals