Asset Management Associate

Job Description

Silverstein Properties, a NYC based owner/operator of over 16 million square feet of real estate, seeks an Asset Management Associate to:

• Maintain/update Argus and valuation models on a quarterly basis; forecast capital contributions/distributions
• Undertake detailed property-level analyses of prospective leasing deals, tenants/in-place leases, capital projects, operating and financial statements, market and competitive position, real estate taxes, insurance and other relevant information
• Track ongoing property-level activity and identify trends/issues
• Review monthly property performance on both a cash and accrual basis; identify issues and present opportunities for improvement
• Assist Asset Manager with implementation of business plan initiatives; analyze property performance relative to business plan targets
• Assist Asset Manager with preparation and review of property-level budgets
• Prepare analyses/consolidate information for investor reports and executive team presentations
• Assist Asset Manager with obtaining institutional investor/lender approvals and handle ad hoc requests for investors/lenders
• Review annual property appraisals
• Research value-add strategies/ideas to consider at the properties
• Assist with analyses, due diligence, and preparation of investment books for financing, recapitalization and disposition transactions
• Assist with due diligence and transition of new acquisitions into the operating portfolio

Requirements:

• Bachelor’s Degree in real estate, business, economics, finance or accounting required
• MBA or Master's in Real Estate preferred, but not required
• 3-5 years of real estate asset management experience (asset management at an operator preferred) with an emphasis on NYC office and multi-family properties, if possible
• Superb attention to detail and high degree of curiosity to dig in, learn and understand
• Ability to be in details but also ability to take a step back and see the “bigger picture” at the same time is required (analytical and strategic perspective)
• Exceptional financial modeling skills, including thorough understanding of cash flow models, IRR analysis, discounted cash flow valuations, complicated debt structures, including bond financing, profit distribution waterfalls and property-level cash analysis
• Knowledge of real estate accounting principles preferred and ability to review and understand both accrual and cash methods of accounting critical
• Ability to prioritize, multi-task and manage conflicting deadlines in a fast-paced environment is critical to success; time management skills essential
• Exceptional communication, interpersonal, analytical, writing and organizational skills; the ability to manage up and clearly and succinctly communicate is critical to success
• Self-motivated, resourceful and proactive, both with respect to managing workload and professional development
• Enthusiasm and desire to succeed in a collaborative environment, with a focus on collective success