Asset Management Associate

Job Summary:

The Asset Management Associate contributes to the execution and implementation of the strategies and programs that drive the financial and operational performance of the Development group by gathering and analyzing market and property data identifying opportunities for improving and/or operational performance, managing strategies that promote review or client satisfaction enhancement and performing other analytical tasks that support the daily operation of the business.

Responsibilities:

•  Conducts financial analysis of multifamily development assets, including the creation of detailed pro-forma and Excel based financial models. Gathers, compiles, investigates, and analyzes market data to identify market trends, and prepares narrative memoranda, detailed reports, and market summaries that provide insights on property level and market trends.
• Collaborates on new investment committee memos, financing or disposition recommendations and updates on existing development assets.
• Establishes and maintains productive relationships with local market brokers, institutional and equity partners, lenders, regional property management and other key stakeholders, and appropriately manages on-going communications related to development transactions.
• Participates in developing documentation and recommendations on key findings that may affect the return and financial performance of the asset(s).
• Organizes and/or leads the disposition process including broker coordination and the due diligence of assets under contract. Performs valuation analysis and develops documentation and recommendations based on key findings that may affect the return and financial performance of the asset(s).
• Monitors and reports on the status and progress of sales transactions and new product deliveries within the assigned geographic region. Establishes critical timelines and deadlines for tasks and activities related to the proposed transaction and identifies and effectively addresses issues or problems that could otherwise adversely affect closing.
• Works with internal teams and external parties to implement process improvements that target increased revenue, reduced operating expenses, promote efficiencies and promote the overall performance of the asset(s). Participate and/or lead evaluation of rent structures and leasing velocity.
• Provides support and assistance to key business leaders and others by fielding questions and requests and gathering data and reports.
• Performs various functions on a regular basis, including the monitoring, reporting and proactive problem solving of the assets(s) within the assigned geographic region.
• Coordinates with consultants related to real estate tax protests.
• Assists with the preparation of annual asset level business plans including review of operating budgets, market analysis, real estate tax forecast and disposition strategy.
• Completes various financial, administrative, and other reports and analysis, and performs other duties as assigned or as necessary.

Qualifications

• 1-3 years of experience within the multifamily industry, ideally with a brokerage firm.
• Strong analytical background is essential; experience underwriting and creating detailed financial models is required.