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Asset Management Analyst

Salary
Competitive
Employment
Full Time
Work Place
Office
Real Estate Field
Location
San Francisco
 CA
Postal Code
94111
Country
United States

This job is no longer active.

Description


Carmel Partners is a well-capitalized private real estate firm with expertise in the investment and development of multi-family real estate. Our mission is to build and enhance high-quality communities using innovative ideas and solutions that create value for our investors, residents, and associates.

We are committed to creating an inclusive and diverse team rooted in a culture of mutual respect. We know that our differences make us stronger as an organization and we embrace equal opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity, or Veteran status.

As an Asset Management Analyst, you will support the department’s goal of maximizing operations and returns at the individual asset level and the overall fund/portfolio level. You'll prepare and analyze data, be responsible for developing and maintaining comprehensive reporting, and work on ad hoc projects.

Who you are: 

You have a working knowledge of real estate investment, property management, and multifamily development or renovation, enjoy market research, and are able to support multiple projects with ease. A creative problem solver, you’re productive in collaborative team settings as well as on your own. You’re curious and have a passionate interest in learning and growing within the industry.


What you'll do:

  • Support the Asset Management Team in regular oversight for assigned properties.
  • Provide market research for current assets and potential acquisitions
  • Identify opportunities to exceed benchmarks without negatively impacting property operations or the property’s competitive position within the submarket
  • Review weekly reports with leasing, occupancy, and trend information and follow up with any questions regarding activity from the prior week
    • Review monthly variance between budgets and actual expenditures
    • Participate in monthly revenue management calls to review lease pricing at each property
    • Monitor additional key property metrics such as unit turnover timing, renewal rates, and lease expiration schedules, and bring attention to any potential issues that could negatively impact property performance
    • Participate in the preparation and presentation of Asset Level Business Plans
    • Quarterly Asset Reviews: participate in quarterly updates on the annual strategy and goals, and compile property-specific questions and issues to highlight or discuss with senior leadership and assist in tracking any action items based on those discussions
    • Property Budgets: participate in annual budgeting process including detailed review of major line items, comparisons of budget assumptions to historical property performance and to industry benchmarks
    • Reforecasts: participate in quarterly reforecast process including detailed review of major line items
    • Contribute to additional calls or coordination activities based on specific property needs related to lease-up activity, disposition preparation, major capital project implementation, or retail leasing
  • Develop and maintain strong knowledge of assigned properties and regions
    • Assist with shopping competitive property set for properties in assigned region; understand how assets compare to the competition in terms of pricing, location, amenities, unit finishes, management, customer service, etc.
    • Make occasional recommendations on whether current pricing reflects market dynamics and whether opportunities exist to cost-effectively improve property position within the submarket
    • Assist with due diligence in evaluating capital projects/renovations.
  • Assist team in rent and expense underwriting as a part of the due diligence process for any new acquisitions in assigned regions:
    • Work closely with the third-party property management company to populate expense projections based on proposed project design characteristics, and analyze in comparison to existing and benchmark properties
    • Shop competitive properties and assemble research and analysis of market rents to fully understand property positioning within the market
    • Collect data, photos, rent tracking, and other information to assess historical rent performance, unit finishes, amenities, and other project characteristics of the competitive property set
    • Customize and enhance existing underwriting tools/models to improve analysis and efficiency
  • Property and Portfolio Analysis:
    • Conduct portfolio and property-level research projects, utility expense analysis, and review ancillary income contracts and payment schedules to identify business opportunities.
    • Review real estate tax assessments for assigned properties and participate in discussions and third-party real estate tax consultants regarding tax appeal strategies
  • Coordinate with other departments and respond to any requests for property-level data and metrics to report to investors, lenders, partners, or others
  • Coordinate at least one major team process such as Asset Level Business Plans, Quarterly Asset Reviews, Budgets, Reforecasts, and/or other special projects based on business needs (assembling and editing documents, etc. with direction)
  • Other duties, responsibilities and special projects as assigned

What you'll bring: 

  • Bachelor’s degree in Real Estate, Finance, or related field
  • 1-3 years of professional experience, ideally with a portion of that time in the real estate investment business
  • Exceptional financial and numerical analytical skills
  • Some experience in financial modeling
  • An understanding of real estate valuation processes, real estate underwriting, discounted cash flow analyses, and return on investment principles
  • Proficiency in MS office including Excel, PowerPoint, and Word

Your Compensation & Benefits:
Your performance will be reviewed annually, and your compensation will be designed to motivate and reward the value that you provide. You'll receive a competitive salary, bonuses, and benefits.
Benefits play a key role in your choice of employer.  Our portfolio of health benefits, time off benefits, paid parental leave, and wellness programs, and perks is designed to ensure that you are healthy and comfortable.

Hiring during Covid -19: Our recruiting and onboarding activities are virtual during the pandemic via Zoom and we've transitioned to a work-from-home environment until further notice.

 

Job Sector


 

Experience


1+ to 2 years


This job is no longer active.

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