Asset Management Analyst

Job Description

• Develop a basic understanding of Argus Enterprise, budget analysis, and financial reporting.
• Develop a general understanding of the firm's property management and asset management policies, procedures, and guidelines.
• Develop a broad knowledge of joint venture agreements, loan documents, lease agreements, property management agreements, development agreements, service contracts, and title documents.
• Develop a foundational understanding of the underlying economic, market, and real estate industry trends.
• Assist asset managers with leasing and property operations, including:
  • Reviewing and evaluating monthly reporting packages and cash flow distributions/contributions, identify variances and discrepancies, and ensure accuracy.
  • Prepare detailed financial analyses of operating performance, leasing trends, submarket analytics, and competitive property analysis.
  • Assist in preparing and drafting investment committee recommendation memos to the leadership committees for asset repositioning, major leasing, hold/sell analyses, dispositions, acquisitions, development, large capital projects, and key legal documents.
  • Extracting metrics from various data sources, including CoStar, MRI, and Argus Enterprise, to support the development of strategic business plans and property operating budgets.
  • Maintaining reputation, relationships, and efficient information flow between asset managers, third-party property managers, leasing teams, joint venture partners, portfolio managers, and leadership.
  • Conducting periodic physical inspections of assets, touring competitive properties, developing industry knowledge and relationships, and commanding a general understanding of the market and submarket dynamics.
  • Review common area maintenance reconciliations generated by third-party property managers against tenant leases and property operating expenses. Partner with accounting to ensure amounts billed tie with the general ledger. Submit reconciliation approval worksheets to the asset manager for approval and processing.
  • Assist with  documentation process and develop understanding of ARA’s legal forms.
  • Create Economic Lease Analysis for each new lease proposal utilizing ARA's internal analysis model.
  • Participate and provide input in negotiations from the letter proposal stage through lease execution.
  • Participate in operational calls with property managers to discuss asset strategy, vendor engagement, asset performance, capital projects, leasing trends and marketing strategy, and other business matters.
  • Support quarterly accounting reviews of each asset, including business plan and budget performance.
  • Review and certify rent roll accuracy to ensure accurate reporting.
  • Complete annual budgets and quarterly investment status updates for assets.
• Conduct thorough market research to:
  • Validate asset acquisition or new development underwriting;
  • Support the proposed market positioning and strategy;
  • Compile comparable sales data and future development pipeline;
  • Assist the Investment Group in the overall underwriting, committee recommendation drafting, due diligence, and asset management transition processes, as needed for acquisitions and new developments
  • Review quarterly asset valuations and follow-up on discrepancies or inconsistencies, interface with appraisers and asset managers to finalize value; and,
  • Support dispositions activities by preparing the asset for sale, drafting the committee recommendation, interfacing with the disposition team, and supporting the overall due diligence and closing processes.
• Support asset managers with oversight of the development and construction process including:
  • Conducting detailed reviews of construction draw packages and related monthly development and financial reports;
  • Performing periodic site inspections with asset managers and construction services team;
  • Participating  in owner, leasing, property manager and partner status calls;
  • Preparing development status reports and presentations for leadership;
  • Developing a general understanding of the construction process, terminology, and AIA documents;
  • Preparing wire transfer requests for internal approval.
• Support portfolio management to:
  • Track and report critical issues and handle ad-hoc requests from the portfolio management team.
• Support quarterly and annual valuations processes for assigned assets, including:
  • Reviewing quarterly asset valuations and follow-up on discrepancies or inconsistencies; interface with appraisers and asset managers to finalize value.
  • Verifying the accuracy of the rent roll, tenant recoveries, market lease assumptions, valuation metrics, operating expenses, and capital expenditures.
• Based upon needs of ARA, support other analysts and associates in executing the various periodic requests that further department or firmwide initiatives.
• Other activities that may be assigned from time to time.

• Bachelor's degree in finance, real estate, or related field required. Seeking 0-2 years of direct experience.
• A demonstrated interest in commercial real estate, analysis, or asset management through a combination of internships and coursework.
• Strong finance and mathematical skills including, but not limited to, the ability to calculate and understand discounted cash flows, net present value, internal rate of return. Capable of generating and interpreting statistical data; demonstrated analytical skills, including financial analysis.
• Ability to solve practical problems and deal with various concrete variables in situations where only limited standardization exists - the ability to interpret various instructions furnished in written, oral, or schedule form.
• Familiarity with various software for word processing and spreadsheet preparation. Demonstrated proficiency and precision in Microsoft Excel with the ability and understanding of how to build formulas. Familiarity with creating ARGUS Enterprise models and reviewing and adjusting Altus models is a plus.
• A general understanding of accounting and financial reporting is needed.
• Strong organizational skills and the ability to follow processes.