Property Analyst - DRA Advisors LLC

January 17, 2018
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DRA Advisors LLC

New York, New York 10017
http://www.draadvisors.com

Property Analyst

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Property Responsibilities (Estimated 65% of the typical property load for an analyst)

  • Review monthly reporting packages from third party property managers.
  • Review annual property budgets, CAM reconciliations and reforecasts.
  • Stay on top of property cash management including:
    • Timely payment of expenses and monthly debt service.
    • Prepare cash flow projections to determine future needs / capital calls.
    • Review accuracy of bank reconciliations prepared by property managers.
  • Calculate property level dividend distributions and property returns.
  • Review and coordinate approval of property funding requests (both operating and capital).
  • Conduct variance analysis comparing actual performance to historical, budget and underwriting.
  • Ensure accuracy of rent rolls and options reports.
  • Monitor accounts receivable aging report and work with asset management on addressing delinquencies.
  • Assist in preparation of quarterly investor reports.
  • Coordinate with asset managers and acquisitions dept. regarding ongoing property issues.
  • Maintain property IRR including prepare/review waterfall calculations in joint venture documents.
  • Perform loan compliance testing.
  • Keep track of lender escrows and review/prepare lender draw requests.
  • Maintain loan abstract.
  • Maintain complete and organized property files electronically.

Audited/Reviewed Financial Statements

  • Coordinate required information for both properties and portfolios (i.e. audit workbooks/confirmations/supporting documents).
  • Review audit adjustments for both properties and portfolios.
  • Ensure audit deadlines are being met for both properties and portfolios.

Acquisitions (w/supervision of the PM)

  • Perform/Review due diligence on income, CAM & expenses.
  • Review underwriting (ARGUS) used to determine pricing.
  • Coordinate with attorneys (buyer & seller).
  • Prepare closing statement with proration’s for PM review.
  • Prepare journal entry to record closing.
  • Prepare post-closing memorandums/true up.

Dispositions

  • Prepare/coordinate information required by Dispo Department for PM review.
  • Prepare closing statement for PM review.
  • Calculate proper allocation of distribution among ownership entities for PM review.
  • Prepare final IRR/investment multiple calculations.
  • Prepare journal entry to record closing.
  • Prepare post-closing memorandums/true up/follow up on post-closing matters.
  • Monitor cash reserves from closing until the wind down of property accounts.

Other

  • Assist in property financings and refinancing.
  • Various internal special projects.

Perform other duties and responsibilities as assigned.

EDUCATION/EXPERIENCE

  • BS in Finance / Accounting
  • 2 to 3 years’ experience

SKILLS/COMPETENCIES

  • Strong prioritization, communication and conflict resolution skills.
  • Strategic thinking with an ability to execute tactically.
  • Ability to work within tight timeframe's and meet strict deadlines.
  • Demonstrated problem solving & project management skills.
  • Team player who demonstrates the ability to collaborate with employees throughout all levels of the organization.
  • Proficiency in Microsoft Office: Access, Excel, PowerPoint and Word. & Argus
  • Excellent written / verbal communication and presentation skills are essential to synthesize information, make assumptions, and present key findings, conclusions and recommendations.
  • Excellent attention to detail and accuracy along with ability to multitask and prioritize.
  • Ability to plan ahead, anticipate potential problems and react nimbly.