Asset Management Associate

Job Description

Pacolet Milliken, LLC

Asset Management Associate – Real Estate Division

Position Overview

Pacolet Milliken, LLC (“Pacolet”) is seeking an Asset Management Associate to serve in its Real Estate Division at the firm’s headquarters in Greenville, SC.  The position will report to the Director of Asset Management and must work collaboratively with the real estate team, accounting team, and other members of the corporate staff.

About Pacolet Milliken

Pacolet was formed in 2007 by shareholders of Milliken & Company as a standalone investment company.  Within the Real Estate Division, Pacolet has significant investments in core US markets including New York and Washington DC as well as across the Southeast and Southwest.  Pacolet invests across multiple product types including multifamily, industrial warehouse, office, retail, and land development.  Based on market conditions, Pacolet invests in stabilized assets, value-add assets, and ground-up development.

Required Experience & Education

This position requires a minimum of 5 years of relevant industry experience.  A Bachelor’s or Master’s degree in finance, business or accounting is required.  An MBA, CPA, and/or CFA is a strong positive, but not required.

Skills Overview

Exceptional written, verbal, and financial analysis skills are required, as are sophisticated Excel modeling and the ability to produce top quality presentation materials (MS Word, Excel, PowerPoint).  Argus experience is a plus.  This position will require the ability to create and track actual performance against budgets, abstract leases and loan documents, review joint venture agreements, and model complex waterfalls.  Successful candidates must possess a strong work ethic, be detail-oriented, and be committed to meeting deadlines.  

• Ability to communicate clearly and effectively, gain the trust and confidence of others, work cooperatively with a variety of individuals, and project a positive, proactive attitude
• Ability to define problems, collect data, establish facts, and draw valid conclusions.  Willing to question assumptions, demonstrated skills in financial modeling
• Demonstrated strong interest in real estate investment and management
• Ability to work on a wide variety of assignments concurrently, self-direct and prioritize, and work flexible hours to meet project deadlines
• Accuracy and attention to detail is critical

Responsibilities & Duties

• Work closely with property management teams to achieve/exceed budgeted projections
• Monitor weekly pricing for multifamily assets; manage leasing and renewals for retail assets
• Work closely with Construction Manager in prioritization of major R&M and CapEx projects
• Monitor performance relative to budgeting, underwriting and historical performance
• 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 analyses to senior management and/or relevant departments
• Analyze historical comparable operating statements and calculate different income and expense ratios. Utilize the information as a benchmark for financial operating statistics
• Support budgeting and business planning functions
• Re-forecast income and expense by using the YTD operating results and forecasting future operating results to reflect implementing the current market conditions
• Review in detail, and prepare, property and portfolio level annual operating and capital budgets
• Participate in annual strategic planning (including a 5-year outlook) and portfolio valuation
• Compile, analyze, and present portfolio-wide metrics relating to financial performance and other metrics (expirations, debt maturities, major tenant exposures, and similar considerations)

• Build, maintain, and audit Argus and Excel valuation models
• Model property and partnership level returns
• Draft investment committee memos and power point presentations
• Review loan documents and other legal documents
• Perform financial and physical due diligence
• Conduct market research; create lease and sale comparable tables and maps
• Assist with closing activities and special projects as assigned

Travel

Travel as required to execute above responsibilities and to attend other corporate meetings; not expected to exceed 25%.  

References

A minimum of 3 references must be provided, to include at least one supervisor and one peer.  At least one reference must be from one’s most immediate previous full-time employer. 

Contact

Please send a cover letter and resume to Van Clark.  No phone calls or unscheduled visits are requested.  In your cover letter, please describe specific job qualifications regarding the position.  Please note that no candidates will be considered without prior experience in real estate or finance and willingness to provide sample financial models to demonstrate proficiency.

Pacolet Milliken is committed to a diverse environment and is proud to be an equal opportunity employer.  All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, status as a protected veteran, or status as a qualified individual with a disability.