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Associate, Real Estate Portfolio Management

Salary
Competitive
Employment
Full Time
Work Place
Office
Real Estate Field
Location
Palo Alto
 CA
Postal Code
94304
Country
United States

This job is no longer active.

Description


About Us

About the Company: Pacific Urban Residential (‘PUR’) is an industry leading multifamily investment firm and pension fund manager. PUR is focused exclusively on the multifamily rental space and has successfully deployed well-timed strategies to the benefit of its institutional partners and stakeholders. 

Since its inception in 1998, Pacific has completed over $8 billion in apartment transactions on behalf of its own account and those of its valued strategic institutional partners. Today, PUR has five offices, with over fifty professionals and an owned apartment portfolio in excess of $4 billion dollars. 

Pacific Urban Residential investments include “value-add” and “core-plus” strategies including acquiring and renovating 10 30+ year old “vintage” apartment communities. These properties are acquired with the investment objective of current cash flow and appreciation.

Additionally, Pacific Urban Residential investment strategies are focused on the multifamily space. Committed to the communities in which we operate and to sustainability, Pacific utilizes its branded Ecologic program of initiatives to bring environmentally aware features into the communities and to each resident’s apartment home.

Pacific Urban Residential is an affiliate of The Marcus and Millichap Companies. More information can be found at .

Business Unit: The Associate will be part of the Pacific Multifamily Investors Business Unit. This business unit acquires and operates portfolios of properties for institutional clients on a long-term basis including one of the largest and most prestigious pension funds in the world. Upon acquisition, some renovation work is completed typically for each community to optimize the property’s position in the marketplace and improve its fit in the portfolio. In addition to maximizing each asset, the business unit brings portfolio-wide improvements and synergies to bear to maximize total cash flow and appreciation.  

Position Overview

Job Description: Pacific Urban Residential seeks a capable and skilled candidate to join our multifamily Portfolio Management Team as an Associate. This is an outstanding opportunity for a talented, high energy, and well-versed individual to participate, and add-value immediately in growing and operating the portfolio. As such, this position offers the right individual an opportunity to gain broad exposure to the apartment industry with a very experienced and reputable real estate investment manager.

This position will report to the Director of Portfolio Management. The career path for this individual can include becoming a Portfolio Manager and will provide an opportunity to work alongside some of the industry’s most experienced and respected professionals, and work with some of the country’s most sophisticated third-party investors, including pension funds, banks, and insurance companies.

Primary Job Duties & Responsibilities: Initially, this position will entail a wide variety of financial duties associated with optimizing the overall performance of a portfolio of more than 30 apartment properties valued at over $2.5 billion. Secondarily, the position will require the candidate to assist senior executives and PUR Partners in a wide variety of tasks and duties associated with advancing the strategic interest of Pacific Urban as a whole. Thus, the position offers excellent visibility at the highest level of the organization.

A Successful Candidate Will:

  • Develop financial models to analyze investment returns and perform analysis (e.g., time weighted returns, IRRs, equity multiples, discounted cash flows, etc.).
  • Participate in the creating monthly, quarterly, and annual reporting for investment clients and senior management.
  • Manage cash flow, distributions, and investment projections.
  • Participate in regular dialogue and reporting to in-house and third-party capital sources, including playing a critical role in preparing annual investment plans and requests for additional capital required to grow the portfolio.
  • Analyze property and portfolio operating data while working closely with Portfolio Management, Asset Managers, third-party property managers and other in-house and third-party vendors and service groups.
  • Create and/or review property and portfolio level budgets, income and investment project analyses, variance reports, as well as more granular lease/rent roll analyses and other applicable information for portfolio and asset management use.
  • Participate in advancing the overall strategy and execution of the portfolio including acquiring, operating, disposing of, and executing value-add improvements.
  • Other related duties as required.

Personal & Professional Requirements:

  • Friendly, team player attitude required as well as excellent personal qualities, high integrity, work ethic, etc. Must be a self-starter with excellent time management skills.  
  • The ideal candidate will have outstanding educational, and professional qualities with a demonstrated track record of growth and achievement.
  • An undergraduate degree is required, preferably with a focus in Finance, Economics, Business, Real Estate, or another relevant area. A strong academic record is required. CFA strongly preferred, and MBA or relevant post graduate degree is desirable but not required.
  • 5-7 years’ experience in financial analysis.
  • Must possess excellent financial and analytical skills, including advanced financial analysis and excel modeling skills.
  • Prior experience in multifamily real estate is preferred but not required if the candidate possesses the right combination of ability, drive, other relevant experience, and knowledge.
  • Must be able to multi task effectively in a dynamic environment while maintaining accuracy; attention to detail is critical.
  • Must be a strong writer and be comfortable speaking clearly and confidently to a wide variety of staff and executive team members.
  • The ideal candidate will demonstrate a commitment to real estate investing as a career, ideally with a particular interest in the multifamily rental space. It will be important to be an active participant in industry organizations.

Notes:

  • Salary and annual bonus commensurate with skills and experience.
  • Some travel required.
  • Schedule flexibility negotiable, however, the job will require regular attendance in the Palo Alto or Los Angeles, CA office once current work from home protocols end, expected in mid to late 2021.
  • For efficiency in evaluating candidates, please provide information to the contact noted herein and do not contact staff members directly.
 

Job Sector


Not specified

 

Experience


5+ to 7 years


This job is no longer active.

Finance / Investment Palo Alto Full Time CA Asset Management, Financial Analysis, Portfolio Management Senior Associate (Sr Manager), Finance other