Associate, Asset Management

1 month ago

Boston, United States Keller Augusta Full time

Company Description:

The firm is a real estate focused private equity firm that invests in a wide variety of opportunistic and value-oriented commercial real estate transactions where the conditions exist for compelling absolute returns over a short and medium duration. The firm invests throughout the United States in single property transactions and multiple property portfolios whereby the investment strategies are based on property-level operational enhancements as well as those with pricing advantages that arise from distressed, complex, and dislocated scenarios.


The firm’s investments are structured in numerous capital forms including direct equity, joint venture equity, preferred equity, mezzanine loans, and transitional first mortgages. Since 1993, the firm has invested in more than $30 billion of commercial real estate on behalf of a diversified and highly regarded group of endowments, foundations, public and corporate pension plans, financial institutions, family offices, and sovereign entities.


Position Overview:

The Associate is part of an asset management team that is responsible for the overall performance of the individual assets they cover. The Associate will have responsibility for working closely with the asset’s joint venture partner / borrower and assigned senior asset manager on the execution of the investment strategy established for it at acquisition. Throughout the course of the year, they are then responsible for helping monitor the performance of each asset to ensure annual goals are achieved. For each asset, the Associate will maintain the financial model throughout the project lifecycle to support both asset management activities and investment decisions, including sensitivities on valuation, financing, and disposition strategies.


Responsibilities:

The firm is seeking an individual who will play an active role in the firm with responsibility for the asset management on existing portfolio investments. The primary responsibility will be to drive the day-to-day execution of business plans for assets that the firm owns (in conjunction with senior management professionals). Responsibilities include the following:


Asset Management Duties:

• Monitor and evaluate the performance of investments, execution of business plans, sub-market fundamentals, exit plan strategies and recommend refinancing or disposition when appropriate.

• Perform cash flow modeling, competitive property analysis, and market research analysis.

• Maintain internal Argus and cash flow models for material changes (new leasing, capital expenditures, and market leasing assumptions) in connection with each investment.

• Responsible for the maintenance of two sets of cash flow models for the assets assigned/acquired, including (i) asset-level returns and (ii) quarterly fair market valuation.

• Strategize with team members and joint venture partners to develop strategies to maximize revenue, reduce expenses and capitalize on market dynamics.

• Interface with joint-venture partners, borrowers, lenders, and the brokerage community.

• Perform periodic property site inspections to ensure property performance and maintenance.

• Oversee the development of annual operating budgets and evaluate ongoing operating performance relative to underwriting.

• Manage construction loan draws and capital budgets and expenditures.

• Prepare cash forecasts and distribution analyses.

• Review monthly financial and operational results to ensure proper accounting practices and treatment. Review and understand variances to underwriting and budget.

• Work with joint venture partners and property managers to develop appropriate performance indicators to identify potential issues and assist in decision making.

• Provide input on capital improvement projects, leasing activities, revenue enhancement alternatives, and expense management.

• Assist in preparation of quarterly asset management reports focused on variances to underwriting, valuation analysis, cash flow projections, and other financial reports and presentations as required.


Qualifications:

Candidates should have broad-based analytical skills, superior capabilities in cash flow modeling, sound research abilities and outstanding communication skills.

• Bachelor's degree is required (preference for candidates concentrating in real estate, finance, and/or accounting).

• Approximately 3 to 7 years of related post-undergraduate experience with exposure to the commercial real estate industry.

• Candidates with skill sets and interest to pursue a career in the commercial real estate industry will also be considered.

• Exceptional financial analysis and modeling skills utilizing Microsoft Excel and Argus.

• Proficient in additional MS Office Programs including MS Word and Power Point.

• Strong organizational skills with ability to manage multiple tasks and effectively meet deadlines.

• Team player with the ability to work independently and under pressure in an entrepreneurial environment.

• Experience working with joint venture partners and various investment structures.

• Outstanding level of attention to detail, accountability, integrity, and ethics.

• Self-motivated, energetic, and positive individual with strong oral and written communication skills and the ability to work effectively with individuals at all levels.

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