Endurance Real Estate Group, LLC is looking to hire an Acquisitions and Asset Management Analyst. Primary responsibilities will be split between asset managing portions of Endurance’s over 3.2 million square foot industrial and office portfolio and underwriting new acquisitions.Key Acquisition responsibilities include:
- Perform financial analysis of prospective acquisitions and development projects using Excel and Argus software
- Assist in the preparation of critical narrative reports, investment narratives, debt request packages and private placement memorandums
- Collection and analysis of due diligence materials for new acquisitions
- Working with outside leasing brokers to assist in responding to leasing proposals
- Assisting in the preparation of marketing collateral
- Interacting with lenders, equity partners and vendors
- Assisting the senior members of the Endurance asset management team in development and construction projects within the portfolio
The level of responsibility and autonomy initially will vary based on a candidate’s experience level. Candidates should have 1-4 years of relevant commercial real estate experience. The candidate will work directly with key company personnel in all aspects of asset acquisitions, asset management, refinancings, and dispositions.
Endurance Real Estate Group, LLC (www.endurance-re.com), founded in 2002, is a Radnor, Pennsylvania-based real estate owner/ developer focused on income and value add industrial opportunities located in the Mid-Atlantic region. Since its formation in 2002, the company has acquired approximately $500 million of assets totaling 10 million SF and sold over 6.2 million SF with a combined value of $350 million. The Acquisitions /Asset Management Analyst will be joining a rapidly expanding, dynamic entrepreneurial organization. This environment offers the ideal candidate the ability to grow their role, experience, and level of responsibility.
Full List of Duties and Responsibilities of Ideal Candidate
- Monitor, maintain, and review acquisition transaction pipeline
- Underwrite and model cash flows using Excel and Argus for potential acquisitions including joint venture equity structuring. Evaluate return metrics (such as IRR’s, equity multiple, cash-on-cash return).
- Analyze markets (lease and sales comps, broker reports and statistics), location, demographics of properties to confirm underwriting assumptions
- Assist in the sourcing of investment opportunities in targeted markets by becoming an expert in local market knowledge and sustaining relationships with brokers
- Develop a strong understanding of the real estate markets and communities in each of the target markets and property types, including trends (both real estate and general economic), activities, developments, significant transactions and major players
- Participate in the drafting of letters of intent and other purchase agreements
- Perform financial due diligence once a property is under contract, including assisting in audits to verify pro-forma assumptions
- Coordinate physical inspections, review of survey, title, environmental and other third-party diligence reports
- Assist in the creation of financial packages for debt providers and deal write-ups
- Maintain deal and market information files
- Meet with senior management to coordinate the transition of newly acquired properties to the asset management, property management and accounting groups
- Occasional property tours and travel as needed
- Work on initial leasing and marketing strategies and continuously work with all third party brokers on the marketing of vacant space.
- Assist in the companies PR, advertising and overall marketing efforts.
- Assist the asset management team with the negotiation of leases as appropriate with brokers, landlord attorneys, and potential tenants. Engage architects for space plans, as-built as needed, and construction drawings needed for tenant improvements
- Financial analysis related to buy vs. hold decisions, and underwriting related to leasing proposals
- Create and update property level ARGUS and Excel models and review property budgets.
- Provide lease analysis for review including net effective rent comparisons and net present value comparisons based on a variety of leases and terms
- Be a strong team player willing to participate in ad hoc projects within asset management and other departments
- Asset Management Financial Oversight:
- Review monthly balance sheets and income statements and variance reports.
- Ensure that properties are performing as budgeted. Produce plans to improve financial performance.
- Participate in the annual budgeting process in conjunction with the asset management team.
Other Skills Required
- Applicant must be a detail-oriented person with excellent analytical skills and ideally be proficient with financial modeling in Excel and due diligence skills.
- Bachelor’s degree required with a major in Finance, Real Estate, Accounting, or Engineering preferred
- Candidate should ideally have 1-4 years of work experience in commercial real estate or related fields
- Working knowledge of engineering and architectural plans, preferred
- Team player, with exceptional communication and organizational skills and eager to work in a fast-paced entrepreneurial environment
- Excellent networking skills and interpersonal skills
- Computer skills with Excel, Word, Outlook. Argus experience preferred but not required.
- Ability to multi-task several projects across multiple properties
- Self-starter with the ability to manage competing and often unanticipated deadlines
Compensation commensurate with experience. Endurance offers an excellent benefits package including vacation and sick pay, matching simple IRA, business casual work environment, and medical benefits.
- Asset Management
- Financial Analysis
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