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Pacolet Milliken Enterprises

Asset Management Associate - Real Estate Division

Salary
Competitive
Employment
Full Time
Work Place
Office
Real Estate Field
  • Finance / Investment
Location
Greenville
 SC
Postal Code
29601
Country
United States

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Description


Company Overview

Pacolet Milliken Enterprises was formed in 2007 by shareholders of Milliken & Company as a standalone investment company which operates two divisions: Real Estate and Energy/Infrastructure.  Within the Real Estate Division, Pacolet Milliken has significant investments in core U.S. markets including New York and Washington D.C. 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.


The firm is headquartered in Greenville, South Carolina, America’s 4th fastest growing city and voted one of the best small cities in the U.S. by Conde` Nast Traveler magazine. It is situated at the foothills of the Blue Ridge Mountains and commonly referred to as the Upstate. Greenville is also the cultural and entertainment center for the upstate with an award-winning downtown area.

Position Overview

The position will report to the Senior Vice President and Director of Asset Management and must work collaboratively with the real estate team, accounting team, and other members of the corporate staff.

 

Responsibilities & Duties

  • Build, maintain, and audit Excel and Argus forward-looking models and related sensitivity analyses in order to analyze property and partner level returns based on review and understanding of performance to date, joint venture agreements, loan documents, leases, and the like.
  • Create and assume ownership of models for the annual strategic planning (including a 5-year outlook), the annual portfolio valuation, and the annual re-underwriting of the portfolio
  • Maintain Real Estate Dashboard
  • Compile and regularly track occupancy, retention, and pricing in the multifamily portfolio
  • Monitor collections, stay abreast of delinquency drivers, and recommend courses of resolution
  • Maintain list of and monitor lease expirations, debt maturities, major tenant exposures, property tax appeal deadlines, and similar metrics
  • Monitor performance relative to budgeting, underwriting and historical performance
  • Work closely with property management teams to achieve/exceed budgeted projections
  • Review monthly property operating reports. Utilize comparable data to identify operational and/or financial issues (benchmarking), coordinate changes in property management to meet operational goals and maximize NOI and report the analyses to senior management and/or relevant departments
  • Support budgeting and business planning functions
  • Re-forecast income and expense by using the YTD operating results and forecasting future operating results to reflect latest current market conditions
  • Review in detail property and portfolio level annual operating and capital budgets; working with Director to set expectations with property teams and facilitate means of meeting those expectations
  • Offer benchmarking intelligence to Acquisition Team as part of due diligence efforts
  • Conduct market research; create lease and sale comparable tables and maps
  • Assist with investment/divestment activities and special projects as assigned

 Skills Overview

  • Exceptional written, verbal, and financial analysis skills
  • Ability to work independently
  • Ability to work on a wide variety of assignments concurrently, self-direct and prioritize, and work flexible hours to meet project deadlines
  • Sophisticated Excel modeling and Argus skills
  • Accuracy and attention to detail is critical
  • Ability to produce top quality presentation materials (MS Word, Excel, PowerPoint).
  • Proven ability to read and draw conclusions from the three standard financial reports:  Income Statement, Balance Sheet, and Statement of Cash Flows
  • Ability to define problems, research and establish facts, and outline draft solutions for discussion with Director
  • Ability to efficiently analyze data and draw conclusions in order to drive operational change
  • Willingness to question assumptions
  • Strong work ethic and strong drive commensurate with in-place high-caliber team

Travel

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

 

Requirements for Posting

  • Cover Letter
  • Resume
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.

Job Functions


  • Accounting / Control
  • Investment Management
  • Research/Market Analysis
 

Job Sectors


  • Residential
  • Industrial
  • Office
  • Retail
 

Experience


7+ to 10 years


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