Asset Management Associate

Job Description

The Role

Silverstein Properties, Inc. is looking for a self-motivated, resourceful and proactive individual, both with respect to managing workload and professional development. Someone who has exceptional financial modeling skills and knowledge of real estate accounting principles to join the Asset Mangement team.  

You Have...

• Bachelor’s Degree in real estate, business, economics, finance or accounting required
• MBA preferred, but not required.
• At least three years of real estate asset management experience (asset management at an operator preferred) with an emphasis on NYC office and multi-family properties, if possible.
• The ability to be in the details but also take a step back and see the “bigger picture” at the same time is required (analytical and strategic perspective).
• Exceptional financial modeling skills, including thorough understanding of structuring cash flow models, IRR analysis, discounted cash flow valuations, complicated debt structures, including bond financing, profit distribution waterfalls and property-level cash analysis
• Knowledge of real estate accounting principles preferred and ability to review and understand both accrual and cash methods of accounting critical
• Exceptional communication, interpersonal, analytical, writing and organizational skills

• Detail oriented.
• Curious to dig in, learn and understand.
• Able to prioritize, multi-task and manage conflicting deadlines in a fast paced environment is critical to success; time management skills essential.
• Able to think quickly and efficiently when confronted with a request.
• A highly motivated self-starter who can work with minimal supervision.
• Proactive, approachable and solution-focused.
• Self-motivated, resourceful and proactive, both with respect to managing workload and professional development.
• Enthusiastic and desire to succeed in a collaborative environment, with a focus on collective success.

• Maintain/update Argus and valuation models on a quarterly basis; forecast capital contributions/distributions
• Undertake detailed property-level analyses of prospective leasing deals, tenants/in-place leases, capital projects, operating and financial statements, market and competitive position, real estate taxes, insurance and other relevant information
• Review monthly property performance on both a cash and accrual basis; identify trends, issues and present opportunities for improvement
• Assist with/prepare property-level business plans and budgets
• Assist with implementation of business plan initiatives; analyze property performance relative to business plan targets
• Prepare analyses/consolidate information for investor reports and executive team presentations
• Assist Asset Manager with obtaining institutional investor/lender approvals and handle ad hoc requests for investors/lenders
• Assist with analyses, due diligence and preparation of investment books for financing, recapitalization and disposition transactions
• Assist with the transition of new acquisitions into the operating portfolio.