Redevelopment & Asset Management Associate - AvalonBay Communities

February 05, 2018

AvalonBay Communities

Irvine, California 92614
http://www.avalonbay.com

AvalonBay Communities, Inc. is one of the nation's leading Real Estate Investment Trusts (REITs), in the business of developing, redeveloping, acquiring and managing high-quality apartment communities in high barrier-to-entry markets of the United States. These markets are located in the Northeast, Mid-Atlantic, Pacific Northwest and Northern and Southern California regions of the country. AvalonBay owns and operates approximately 82,000 apartment homes in the US and employs approximately 3,000 associates. We are proud to be named one of Glassdoor's Best Places to Work in 2018.

 

The Redevelopment & Asset Management Associate will support the Irvine and Los Angeles Redevelopment team while also leading asset teams for remerchandising of multifamily rental communities. Responsibilities include market analyses, scope development, cross-functional team leadership, financial reporting and analyses, budgeting, third-party consultant management, asset management support, entitlement support.

Responsibilities include but are not limited to:

  • Financial analysis including: forecasting, comparative analysis, historical and current performance analysis, NPV calculations, and budgeting
  • Assist with pro forma financial analysis of potential redevelopment projects
  • Prepare redevelopment investment packages
  • Conduct market research
  • Create and update competitive rent surveys
  • Assist in FF&E orders, sign packages, and external consultant outreach and coordination
  • Attend Asset Team Meetings and record/prepare meeting minutes.
  • Leads the planning and approval process for remerchandising projects, including all due diligence and design development efforts. Responsibilities include market research, customer segmentation, branding, assessing operational challenges, entitlement risk, construction constraints, budgeting, third party consultant selection and management, coordination with external and internal partners, communication with asset team, and senior management.
  • Prepares investment packages for AvalonBay Investment Committee for remerchandising projects.
  • Oversees the execution phase of the remerchandising project(s) to ensure schedule and budget expectations are met, community maintains performance goals, and issues are resolved timely.
  • Obtains proposals related to Architecture, Interior Design and Engineering and other consultants, evaluates proposals, makes selections and manages consultant team.
  • Develops project budgets that include ownership of the soft costs and review of the hard costs.
  • Provides a monthly status report on the schedule, budget (including variance reconciliation in Timberline for Accounting), operations (leasing activity, renewals, traffic, and availability) and other issues.



 

Minimum Requirements:

  • Bachelor's degree required, preferably in Business Administration, Finance, Economics, Math, or Engineering.
  • 3-5 years of work experience in the Real Estate, Finance, or Management Consulting industry.
  • Proficiency in Microsoft Word, Excel, Outlook, and Power Point
  • Strong analytical skills and high attention to detail.
  • Strong financial analysis including the ability to work with Excel-based pro-forma models and pivot tables and analyze accounting reports including budgets, operating statements, cash flow forecasts, etc.
  • Demonstrates a strong sense of teamwork.
  • Exhibits outstanding customer service skills.
  • Self-directed, mature, and extremely organized.
  • Position will require flexibility to work in either the Irvine or Los Angeles regional offices.

The ideal candidate will be flexible, energetic, self-motivated, and able to multi-task with a strong emphasis on organization. This person should be enthusiastic and comfortable dealing with a wide variety of professionals and projects. The candidate should be comfortable working both as part of a team and independently, with minimal supervision. We are looking for a candidate who demonstrates a strong sense of teamwork, a positive attitude, has outstanding customer service skills, and is an effective communicator. The ideal candidate is a problem solver, self-directed, organized, and detailed.

If you are looking for a great career opportunity, have a positive attitude and are able to work under pressure, we would love to hear from you! AvalonBay offers a great benefits package including insurance, 401k and discounts at our beautiful apartment communities.

 

AvalonBay conducts drug and background screening for all hires. Qualified applicants will be considered for employment consistent with the Los Angeles Fair Chance Ordinance and other applicable state and federal laws.

AvalonBay is an Equal Opportunity Employer.

 



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