Description
| SUMMARY: |
| Madison Marquette provides analytical services and support for ARA | American Realty Advisors. The Senior Analyst, Asset Management works on a portfolio of our client’s commercial real estate assets. This position is responsible for assisting ARA’s Asset Management group in the execution of its operating strategy on its national real estate investment portfolio. This role is based in ARA’s Los Angeles, CA office.
Madison Marquette is a national, privately held real estate services firm. ARA is a leading institutional real estate investment manager. |
| ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. |
| Leasing and Operations § Assist senior asset managers with: § Developing, executing, and presenting strategic business plans and property operating budgets. § Reviewing monthly reporting packages and cash follow distributions/contributions, evaluating variances and accuracy, and resolving any discrepancies. § Maintaining reputation, relationships, and the efficient information flow between asset managers, third-party property managers, joint venture partners, portfolio managers, and executives. § Conducting periodic physical inspections of assets, touring competitive properties, and developing industry knowledge and relationships and commanding a general overall understanding of the market and submarket dynamics. § Update demographic and market information for each asset area for strategic planning and reporting purposes. § At the direction of management, support other analysts and associates in the execution of the ad-hoc periodic requests that further department or firmwide initiatives. § Participate in weekly operational calls with property managers to discuss asset strategy, vendor engagement, asset performance, capital projects, leasing trends and marketing strategy and other business matters. § Assist in the preparation and drafting of committee recommendation memos to the executive committees for asset repositioning, hold/sell analyses, dispositions, acquisitions, development, large capital projects, and key legal documents. § 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. § Review and certify rent roll accuracy to ensure accurate reporting. § Assist with Property Management Agreement and Leasing Services Agreement amendment, restatement or extension processes. § Create Economic Lease Analysis for each new lease proposal utilizing ARA’s internal analysis model. § Participate and input in negotiations from the LOI stage through lease execution.
Development & Construction § Support asset managers with oversight of the development or construction process, including: § Conduct detailed reviews of construction draw packages and related monthly development and financial reports; § Conduct periodic site inspections with asset managers and construction services team; § Participate in weekly Owner, Architect, Contractor status calls; § Prepare monthly development status reports and presentations for executive management; § Develop a general understanding of the construction process, terminology and AIA documents; § Prepare wire transfer requests for executive management approval.
Acquisitions & Due Diligence § Conduct thorough market research to validate: § Asset acquisition or new development underwriting; § The proposed market positioning and strategy; § 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
Valuations § Review quarterly asset valuations and follow-up on any discrepancies or inconsistencies; interface with appraisers and asset managers to finalize value. § Verify accuracy of the rent roll, recoveries, market lease assumptions, valuation metrics, operating expenses, and capital expenditures.
Dispositions § Support dispositions activities by preparing the asset for sale, assisting in drafting the committee recommendation, interfacing with disposition team, and supporting the overall due diligence and closing processes.
Administration § Review and respond to a high volume of emails, phone calls, and other requests promptly. § Respond to and complete ad-hoc reporting requests. § Participate in weekly department and asset management team meetings. § Support execution of internship programs. § When asked, attend continuing education sessions such as conferences, training programs, workshops, webinars, and present summary reports to team and executives. § Maintain accurate timekeeping for work executed on each asset. § Other activities that may be assigned from time to time. |
| QUALIFICATION REQUIREMENTS: | ||||||||||
| To perform this job successfully an individual must be able to perform each essential duty and be able to travel periodically. This role requires initiative, the ability to handle many moving parts, and being flexible, attentive, assertive, and organized. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and/or EXPERIENCE: Bachelor's degree from four-year college or university in Finance, Real Estate or related field
At least one year of relevant experience in commercial real estate analysis or asset management; an intermediate understanding of real estate finance associated terms and formulas, as well as the construction/development processes.
LANGUAGE SKILLS: Ability to write routine reports and correspondence. Ability to speak effectively with consultants, vendors, third-party property managers, and other members of the organization. Fluent in English.
MATHEMATICAL SKILLS: 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. Capability to generate and interpret statistical data; demonstrated analytical skills including financial analysis.
REASONING ABILITY: Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, or schedule form.
OTHER SKILLS and ABILITIES: The role requires familiarity with various software for word processing and spreadsheet preparation. Demonstrated proficiency and precision in Microsoft Excel with the ability and understanding how to build formulas. A general understanding of accounting and financial reporting is needed. Strong organizational skills and the ability to follow processes.
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