Asset Management Associate

Company Overview:

Tourmaline Capital Partners, LLC (“TCP”) is a Philadelphia-based real estate private equity firm formed in early 2021 that focuses on office investments throughout the Continental United States.  TCP, along with its capital partners, intends to be one of the most acquisitive office investors in the U.S. over the coming years and has already acquired over 3.4M SF of real estate this year.  The firm is seeking an Asset Management Associate to support its growth initiatives. 

The Associate will work directly with the firm’s executive team in all capacities to create, implement, and execute asset management business plans for the firm’s investments.

Job Description

• Prepare and present business plans, budgets and reforecasts
  • Recommend leasing assumptions and capital projects
  • Monitor budgets in real time and ensure compliance
  • Review and understand variance reports
  • Manage asset liquidity and cash flow forecasts
• Prepare and distribute lender reports; ensure compliance with loan agreements
• Maintain Argus and Excel valuation files; recommend and prepare quarterly valuations; prepare quarterly asset management reports to share with capital partners
• Interface with outside parties including leasing brokers, tenants, property managers, lenders, and vendors
• Prepare economic analyses for proposed leases
• Manage construction projects and associated budgets
• Assist in creating asset repositioning plans and engaging architects and contractors; manage third-parties through renovation process
• Remain current on market dynamics and competitive set for the firm’s portfolio
• Support the acquisition team in its underwriting efforts; review operating and capital budget and opine on assumptions; perform operational and physical due diligence
• Assist in preparation of investment memoranda and ad hoc market research
• Assist in procurement of property financing
• Support all other company initiatives as required

Qualifications

• Minimum of five years of prior asset management experience in the office asset class (construction management experience is a plus)
• Undergraduate degree in Real Estate, Finance, Economics, Accounting, Engineering or related field with strong GPA
• Expertise with Argus and Microsoft Excel
• Strong desire to work in an entrepreneurial environment
• Excellent interpersonal and communication skills, both written and verbal
• Self-motivated, energetic, and independent
• Strong analytical and quantitative skills and detail-oriented

Other

• Timing: immediate
• Compensation: commensurate with market and the candidate’s experience
• Location: Philadelphia