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Asset Management Associate

Salary
Competitive
Employment
Full Time
Work Place
Office
Real Estate Field
Location
New York
 NY
Postal Code
10001
Country
United States

This job is no longer active.

Description


Company Overview

Dalan Management is a well-capitalized private real estate investment and management firm that owns and operates a portfolio of multifamily and commercial properties in New York, Texas, and California. Equity partners include KKR, Bain Capital, and RWN, among others.

Dalan’s current portfolio consists of over 50 properties comprised of approximately 3,000 residential units and over 100 commercial units across more than 3 million square feet. Dalan has approximately $2.00 billion in AUM.

This position is based in New York with an office of approximately 25 people. Please visit for more information.

Position Description

Dalan Management is seeking to hire an Associate within the asset management team for the New York portfolio. The position will report to Ben Black, Director of Asset Management.

The position’s primary objective will be to support the team’s goal of maximizing operations and returns of an assigned portfolio of diverse assets. The ideal candidate will be an experienced individual who has experience in both residential and commercial real estate in New York. The role will include all aspects of management and operations in the firm’s growing investment portfolio and will interact with all of the company’s various functional areas. Daily responsibilities include commercial tenant relations, commercial leasing, project management, budgeting, financial reporting, and investor relations and reporting.

The successful candidate will have knowledge of strategic planning in a multifamily and commercial real estate context, commercial multifamily asset and property management, finance, accounting, real estate, transactions, and marketing. This individual will be working in a rapidly growing, dynamic, and collaborative environment with responsibility for continually representing the company’s financial interest through the entire investment cycle.

Responsibilities:

  • Financial reporting and investor reporting, including: preparation and distribution of monthly, quarterly, and annual financial reports and updates for all stakeholders, investors, partners, and lenders
  • Effectively manage lender relationships and fulfill lender requirements to assure loans remain in good standing. Includes lender reporting, property/project updates, loan draws, and compliance requirements
  • Monitor, review, and evaluate property financials, cash positions, leasing trends, expiration schedules, submarket fundamentals, and portfolio trends as needed to enhance asset value, cash flow, and profitability
  • Develop and implement annual business plans, budgets, and reforecasts.  Monitor and report on asset performance accordingly
  • Analyze and monitor capital improvement and renovation programs, as required, for property maintenance, competitive positioning, or market repositioning
  • Identify, evaluate, and recommend value enhancement opportunities and strategies
  • Take ownership of identified value-add opportunities within the portfolio by coordinating internal and third-party resources to drive the process
  • Manage and progress project commercial leasing transactions including new prospects, existing tenant renewals (including FMV arbitration process), and lease modifications in conjunction with leasing agents, outside tenant brokers, legal counsel and tenants/clients as well as architects, engineers, property management staff, etc.
  • Negotiate LOIs, track progress, perform financial analyses to project transaction impact, and participate in and oversee negotiation of leases through all required approvals and full execution. Work with property management and construction team to ensure terms of executed leases are being met including any TI or landlord work requirements
  • Ensure and maintain effective and harmonious tenant and owner relations
  • Participate during the due diligence phase of the acquisition process, assist in the coordination and execution of recapitalizations, debt refinancing, and asset dispositions
  • Interface with outside parties, including bankers, investors, property managers, tenants, attorneys and third-party consultants
  • Work collaboratively and in partnership with Property Management, Leasing, and Construction in order to gather information and/or provide assistance with regard to financial analysis of future leasing deals and expense analysis

Qualifications & Skills:

  • 3 plus years of real estate experience with a New York City real estate owner/developer/investor/manager
  • Bachelor’s degree in Real Estate, Finance, or related field
  • Understanding of real estate fundamentals, financing principles, and capital structures
  • Proactive with issues and highly response to management. Must have experience working under pressure with various projects and deadlines, while reporting effectively and in a timely manner to senior management
  • Capable of multi-tasking; balancing multiple objectives and/or competing priorities
  • Cognizant of big picture and task objectives, yet also detail-oriented and willingness to take a hands-on approach
  • Ability to work both independently and as a team member
  • Ability to understand, analyze, and diagnose financial statements and run financial analyses typical to commercial real estate including NPV, IRR, detailed proformas, etc.
  • Solid analytical/logical mindset and attention to detail as well as ability to think creatively and be a problem solver
  • Exceptional quantitative and analytical skills
  • Strong Excel skills with a high degree of accuracy and attention to detail
  • Proficiency in MS office products including Excel, PowerPoint, and Word; proficiency in property management systems (Yardi, MRI, etc.)
  • Effective oral and written communication skills
  • Highly motivated and take-charge personality; effective decision maker
  • Strong negotiation skills
  • Strong interpersonal skills

Job Function


 
 

Experience


2+ to 5 years


This job is no longer active.

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