Chicago, IL
Salary Estimate: $135,000.00 - $160,000.00
Employment Type: Full Time
Work Place: Office
Experience Required: 2+ to 5 years
Education Required: 4 Year College
Job Description
- Maintain an intimate, hands-on understanding of assigned assets, including physical condition, market competitive position, capital plan, debt structure and financial performance.
- Lead and oversee business plan initiatives along with property management, project management, finance and accounting to maximize long-term value of assigned assets.
- Lead, mentor and direct assigned asset management analysts, fostering an environment of strong analytical support and professional development.
- Closely monitor supply/demand factors (e.g. new construction and competing renovations), local regulatory requirements (e.g. rent restrictions and eviction processes), major employers and other macro factors which may impact the performance and long-term value of the asset.
- Actively seek and digest available market reports through external or internal sources (brokers, technology platforms, economic development departments, internal acquisition team members, etc.)
- Prepare and review internal asset management models for accuracy and perform and present buy/sell/hold analyses.
- Track property level Key Performance Indicators on an absolute and relative basis to create a proactive strategy to address real time trends or issues.
- Oversee property management’s efforts of business plan execution including pricing and expense mitigation strategies and maintain relationships with key onsite staff members and track performance of individual site level employees.
- Review and approve monthly financial and operating packages.
- Track cash flow, manage the balance sheet (including capital accounts) and recommend monthly distributions to investors or anticipate the need for potential capital calls.
- Track capex plan and budget, including performance to underwriting and ROI.
- Produce materials for asset management reviews, quarterly Investor reporting packages and regular portfolio valuation analysis.
- Participate in due diligence activities.
- Prepare and review lender requests, loan documents and other financing activities, including construction draw requests.
- Regularly walk assets with property and project management teams - for assets in transition (new, refinanced or upcoming sale), have performance issues, or material ongoing capital projects up to once per month, and for stabilized properties at least quarterly.
- Strong finance, modeling, and analytical abilities
- Effective verbal and written communication abilities.
- Self-starter able to track down and analyze information and overcome obstacles to accomplish objectives.
- Strong technical abilities – particularly with Microsoft Excel and PowerPoint
- Flexibility to work on multiple projects and to prioritize work without intensive direction from supervisors.
- Ability to work effectively/collaboratively across the organization.
- Capability to independently underwrite real estate acquisition opportunities with experience in multiple different commercial property sectors
- BS/BA degree from an accredited college/university with a strong academic or work background in financial analysis, mathematics, accounting preferred.
- At least four years of related experience required.
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