Asset Management Associate

3 weeks ago


San Francisco, California, United States Hunter SF Full time

Asset Management Associate - Prestigious Family Office The Asset Management position supports the Managing Director of Real Estate in asset management efforts across the family office managed portfolio. The position offers a unique opportunity to be part of an entrepreneurial culture on a small team with a very substantial fiduciary responsibility.
Responsibilities:
Primary responsibility of this role is to support continued growth of the real estate direct investments via joint ventures with high-quality sponsors. The role will focus on asset management responsibilities of the overall real estate portfolio as well as coordination of the overall investment portfolio.
Operations/Budgeting/Forecasting: Coordinate with operating partners, property managers, leasing, and accounting teams on execution of property-level budgets and cash flow management.
Coordinate with operating partners in the preparation and execution of annual business plans, property operating budgets, and capital budgets to support property-level operational strategies to enhance asset value.
Provide project and budget oversight for ground-up development investments, reviewing change orders and coordinating with third party construction consultants and experts.
Establish recommended property capital needs and corresponding costs; evaluate the impact to cash flows/shortfalls and coordinate with Investment Associate on necessary IC approvals.
Develop and maintain portfolio debt schedule; monitor loan expirations in order to manage upcoming maturities and mitigate financing-related risks. Facilitate lender compliance with asset specific requirements such as obtaining approvals for lease agreements or significant capital expenditure projects and coordinating release of escrow accounts.
Property Performance Optimization: Actively monitor and evaluate ongoing performance of assets through assessment of financials, cash positions, and market trends to enhance asset value.
Attend regularly scheduled leasing calls with sponsors, property managers, and third party leasing brokers. Maintain general knowledge of local market conditions and competition.
Review commercial lease submittal packages, evaluate prospective tenant businesses and credit worthiness. Perform other lease related financial analysis to understand the effect on value relative to market comparables and to underwriting. Ensure proposed lease approvals or rejections occur in a timely fashion.
Continually monitor asset performance and joint venture partners compliance to reporting as well as general direction for business plans, budgets, forecasts, leases, analysis and approvals.
Analyze Monthly/Annual Budget vs. Actual individual property and portfolio results; track positive or negative variances and report potential issues.
Coordinate with Investment Associate on the preparation of hold/sell analysis with IC recommendation for assets on potential profit realization opportunities or other significant capital events.
Work with the broader Investment and Operations & Reporting Teams to prepare internal quarterly reporting and detail performance/trends/highlights. Track historic portfolio and property level results in comparison to industry benchmarks.
Monitor quarterly distributions against annual distribution budget and provide detailed explanation of variances.
Review of quarterly valuation models (Argus and Excel) provided by operating partners. Prepare internal quarterly One Page summary of market valuations assumptions and variance comparisons.
Qualifications:
Minimum of 2 years of direct experience and/or knowledge in multifamily and industrial real estate management
Exceptional financial & analytical skills with a data driven mindset; strong command of Excel and Argus
Ability to multi-task, set priorities, take initiative, think critically, and work independently with high attention to detail & quality of output
Bring a strong commitment to excellence and a sense of ownership to work product
Highly collaborative and comfortable working in a small team environment with an entrepreneurial culture
Adaptable to change and demonstrate desire to strive for continuous improvements
Seniority level Associate
Employment type Full-time
Job function Accounting/Auditing, Analyst, and Finance
Industries Real Estate, Venture Capital and Private Equity Principals, and Housing and Community Development

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