Financial Analyst Philadelphia, Pennsylvania

Job Description

Company:  Campus Apartments www.campusapts.com

Position:  Financial Analyst

Location:  Philadelphia, PA

Compensation:  Competitive

Required Experience:2-4 years of related experience

About Campus Apartments:

Campus Apartments (CA), headquartered in Philadelphia, is a vertically-integrated real estate company that acquires, develops, and operates student housing and conventional multi-family within markets that directly benefit from local “Eds and Meds” driven housing demand. As one of the nation’s largest student housing operators, we own and/or manage a portfolio of over 9,000 units and 22,000 beds in 17 states, representing over $2.0 billion in assets under management. 

Position Overview:

Campus Apartments is seeking a Financial Analyst for immediate hire to be involved in all aspects of the Company’s operating and financial management activities. The Financial Analyst will report to the Director of Operations and Financial Management.

Responsibilities:

Operations Reports & Templates

Create, improve and maintain all departmental reports and templates

Reports include data for Senior Management, Finance & Asset Management Departments, Regional and Property Level Employees

Operations Dashboard(s)

Build a property management dashboard(s) with various statistics including financial and operations information for each asset as well as roll up entity data.

Items to be included in the dashboard are financial statistics, occupancy and leasing performance information and operations data such as marketing and maintenance. The dashboard is to be used to analyze business performance and identify issues/abnormalities with daily operations.                                                                                                                                                                                                                                                                                                                                                          

• Build a visualization template with charts and graphs for financial and operations data ensuring the charts and graphs automatically populate when the data is input
• Collect and process the property financial information from the property management platform by breaking down income and expenses into categories
• Generate financial and operations ratios in the dashboard e.g. economic occupancy, average rents, effective average rents, resident delinquency, revenue loss percentage, operating expense percentage (OPEX %, % of EGI), $/unit & $/bed statistics, preleasing information, leasing concessions, prospect traffic including current and future residents, lease expirations, work order completion, etc.
• Cross reference the data in the dashboard and alert senior management team of any current or potential issues
• Data included should be current, last 1 day, last 7 days, last 30 days
• Compare data within dashboard to previous periods

Operating Statements & Financial Data

Create and review monthly property operating reports. Utilize comparable data to identify operational and/or financial issues, coordinate changes in property management to meet operational goals and maximize NOI and report the analysis result to senior management and/or relevant departments.

Prepare historical comparable operating statements and calculate different income and expense ratios. Utilize the information as a benchmark to identify normal financial operating statistics.

• Prepare and analyze monthly and annual financial statements and generate the variance report by arranging the actual and budget financial data side by side and calculating the variance between actual and budget
• Analyze the variance report by highlighting the items with large variances, illustrating the income and expense trend in a percentage format and obtaining a valid explanation for any anomalies from the detailed financial data
• Re-forecast the income and expense by using the YTD (year-to-date) operating results and forecasting future operating results by implementing the current market conditions to projection future months (e.g. rent growth, occupancy trend, expense growth).
• Utilize published data from recognized industry reports to illustrate differences for income and expenses, report significant variances to the appropriate department allowing senior management to implement improvements in operating procedure so assets are able to achieve optimal net operating income and net cash flow

Budgets, Operations & Capital Expenditures

Prepare property and portfolio level annual operating and capital budgets

• Build budget model templates and load all relevant data including previous year operating information if available
• Budget preparation will include properties from different categories including: stable assets, distressed assets, new construction, acquisitions, student housing, conventional, commercial
• The budget model will be used as a benchmark to measure actual property performance and to report results to the senior management.
• Communicate with other company departments and property level personnel to gather specific data for each asset
• Create a portfolio annual operating budget model in the following steps:

• • Input rent roll and prelease rent roll and break down into different unit types including studio, 1 bedrooms – 7 bedrooms, single family, double occupancy)
  • Calculate current occupancy for each unit type and forecast the future/prelease occupancy by using a combination of the prelease rent roll as well as excel formulas
  • Analyze the current and historical occupancy, renewal ratio, tenant activities and income statement to create assumptions for future occupancy
  • Formulate income and expense schedule by applying the assumptions stated above
  • Insert approved capital schedule into budget template with coordinating months and payment schedules
  • Generate a 5-year projection based on the annual income and expense schedule and apply the historical growth rate on income and expense
  • Summarize financial results and statistics in the summary sheet by using the "indirect" function in excel

Operations Reports

Create and review various departmental reports for different leadership teams with in the organization.

In addition to creating summary level statistical data the creation and review of in-depth departmental information can be used to identify specific issues and needs in the organization. These reports will allow team members to drill down to specific criteria, quickly identify problems and make adjustments if necessary to optimize operating procedures in order to ultimately maximize performance.

Specific departmental operations reports include leasing and marketing, maintenance, facilities and capital expenditures, and employee and staffing.

• Leasing and Marketing reports will include information such as historical occupancy and preleasing data (daily, weekly, monthly, annual), historical renewal percentages, comparable property and market data, year over year and month over month traffic and preleasing statistics, lead conversion ratios by property and by each leasing team member, application completion vs. lease completion comparison, immediate move-in opportunities, leasing concessions and lease giveaways, rate schedules including tiers if necessary, etc.
• Maintenance, Facilities and Capital Expenditures reports will include work order statistics such as work order completion ratio, average time to complete work orders, average number of work orders completed per employee, work order satisfaction rates, quantity of work orders per category, turnover quantities and expense projections, average capital expenditure spend per property, recurring vs. non-recurring capital expenditures, etc.
• Employee and Staffing reports will include overtime hours and rate measurements by property and by individual, cost per open office hour, average employee cost per lease and per work order, employee costs per comparable property, etc.
  
  

Quarterly Investment Review

Create a one page document for each property under management with relevant financial and operations information and submit to executive team.

• Compile all the financial information into a review report which consists of budget variance, year over year variance and proforma variance.
• Use current financial projections to determine if specific expense categories are to be over budget at year end
• Gather all recent operations information (preleasing and traffic information and work order data) and compare to prior period and/or budget
• Collect stable market data relevant to the assets under review; input data into a table to auto populate for the review

Comparable Properties Market Analysis

Conduct market analysis and rent comparison between properties and competitors.

• Review and analyze available market reports from major real estate companies, competitors and available industry reports to gain knowledge about rent and occupancy trends and inventory of individual markets and/or industry
• Prepare market analysis by conducting rent comparable analysis, unit mix matrix for current and new properties and market inventory by different unit types
• Provide data for new properties by conducting rent comparable analysis with surrounding competitors and currently owned properties

Commercial/Retail Schedule

Create a Commercial/Retail schedule for each asset with relevant information including monthly rate, CAM, square footage, lease terms, renewal terms, rent increases, billable expenses, etc.

• Gather data from signed commercial leases and assemble into excel schedule for each property with retail/commercial space
• For budgeting purposes request tenant specific information from internal team members such as estimated delivery dates, CAM (Common Area Maintenance) estimates for all leases not yet finalized
• Request relevant information from team members regarding tenant spaces that have not yet delivered or completed construction
• Create a rent schedule for each tenant with lease terms specific to each lease adding relevant notes where necessary, include rate increases
• Create a CAM schedule with estimates from current billable schedule as well as projected schedule from the current budget/forecast; work with Finance Team to develop CAM schedule and provide recommendations based on actual and budget data
• Compare schedule to current rent and CAM schedule in property management software, report variances to appropriate departments

Debt Schedule

Create a debt payment schedule that can be used for various reports including budgets, forecasts, and point in time loan balances.

• Verify the mortgage payments by building the loan amortization table and utilizing the actual days in month to calculate the estimated mortgage amounts and point out any differences between actual payments and estimations
• Schedule to provide a table for each separate loan with monthly interest and principal payments and month end balances; utilize excel to auto populate table from amortization schedule

Qualifications:

• Must be comfortable creating and modifying Excel-based models
• Critical thinker that excels at synthesizing information
• Strong written and verbal communication skills
• Must possess a strong work ethic; be detail-oriented; and committed to meeting deadlines
• Excellent academic credentials; concentration or prior work experience in real estate is a plus

Qualified candidates should submit the following information:

Brief cover letter indicating key strengths and reasons for interest in this position
Current resume