Associate, Investments

Job Description

Bernstein Management Corporation (BMC) has been a regional leader in real estate management for 70 years. BMC's investment affiliate is a fully discretionary, private real estate fund with assets valued at over $2.0 billion, low leverage and significant capacity to make additional investments. Focusing exclusively on the Washington D.C. metropolitan area, the portfolio currently includes 80+ properties representing over 5,500 residential units and 3.3 million square feet of commercial space including office, retail and industrial assets. BMC's team of over 230 industry experts manage the portfolio with a hands-on, vertically integrated approach. For more information, visit bmcproperties.com.

The Associate will serve an integral role on the Investments team, supporting BMC's efforts to grow cash flow and enhance the value of our diversified $2B+ portfolio through strategic asset and loan acquisitions, pref equity / mezz originations, dispositions, joint-venture investments, financing, asset management, and capital projects. Additionally, you will support the Fund's annual valuation process, internal and external reporting requirements, and other ad hoc projects. The successful candidate will have a solid knowledge of real estate valuation, a demonstrated ability to perform complex modeling quickly and accurately, some transaction experience, a strong work ethic, proactive and diligent communication skills, the ability to "think like an owner," a drive to achieve results, and the ability to multi-task. You will work across various transaction and asset types, including multifamily, industrial, flex, office, land, retail, and townhome deals, both stabilized and development. You will report to the Senior Vice President, Investments, work most closely with BMC's Associate VP(s) and will be encouraged to build relationships across the company and the industry.

Duties & Responsibilities:

• Own the financial model for each deal, incorporating all details, complexities & nuances, financing, and deal structure/waterfall. Track model versions and make updates as information is obtained without prompting.
• Important responsibility for document management, responding to 3rd party questions, due diligence tracking, review and follow-up.
• Prepare investment committee and asset management committee presentation materials, valuation models, financing memos and other transaction documents.
• Assist in targeting, evaluating, financing and closing new investments through financial analysis/underwriting, research and due diligence.
• Work closely with legal and other departments on closings, including ensuring accurate pro-rations, settlement statements, insurance coverage placement, and that conditions to closing are met.
• Support annual Fund valuation process including external appraiser and internal valuations.
• Prepare various quarterly and annual reports/projections on project or fund performance for internal and external use.
• Perform periodic benchmarking and analysis of value-enhancement initiatives.
• Monitor actual operations as compared to annual budgets and/or original pro forma.
• Identify opportunities to enhance fund performance and value.
• Carefully listen, document and strategically communicate out with internal and external parties.
• Review and prepare draw requests for approval.
• Manage BMC deal pipeline, including all relevant details.
• Schedule property tours and inspection appreciating required notice periods, appropriate invitees and timing.
• Other duties as assigned.

Qualifications:

• BA/BS preferably in Finance or Real Estate
• 2+ years of related real estate valuation, modeling and transaction experience
• Ability to think critically
• Intermediate to Advanced Excel
• Proficient in Argus
• Strong analytical and quantitative skills
• Ability to excel in both a team setting and on individual assignments
• Strong and succinct listening, speaking and writing skills
• Excellent interpersonal skills
• Strong attention to detail
• Ability to prioritize, multi-task and adapt to changing assignments
• Highly motivated, responsive and deadline-oriented

BMC's People First Commitment

At BMC, we know that work/life balance is not just important, it's necessary. As a member of our team, your experience will be valued, and your hard work will be rewarded with a generous benefits package including paid time off, medical plan options, 401K match with immediate vesting, rent discount at BMC properties, paid volunteer leave, gym membership contributions, and company-wide social outings.

Bernstein Management is an Equal Opportunity Employer, making decisions without discrimination on the basis of race, color, religion, sex, national origin, age, veteran status, disability, sexual orientation, genetic information or any other protected class, in accordance with applicable law.