Work with Senior Asset Management Executives on various assignments related to the Asset Management and Valuation oversight of the Los Angeles Region Core Office portfolio comprising 9.0M+ sq. ft. of commercial space. Will immediately be accountable to prepare Quarterly IFRS Valuations, contribute to Strategic Business Planning as well as complete on demand Asset and Portfolio Valuation scenarios utilizing Argus Enterprise and Microsoft Excel.
Regional Asset Valuations
- Responsible for gathering data and preparing quarterly forecasting and annual budget valuations for the Los Angeles portfolio including, but not limited to:
- Liaise with Leasing, Accounting, Operations and Construction departments to ensure the property rent rolls, recovery calculations, forecasted new leasing, projections, allowances, inducements, capital expenses and operating budgets are reconciled to ensure accuracy and completeness of Financial Models and Valuations.
- Reconcile Yardi ABF to Argus Enterprise models.
- Ensure investment metrics used in all financial modelling are soundly supported by market and qualitative asset analysis.
- Continually analyze Asset cash flows for reasonableness and discuss areas of concerns with EVP, SVP & Director, Asset Management.
- Assist with directing and reviewing third-party appraisal firms in the preparation of independent quarterly valuations for IFRS comparison.
- Confidently prepare timely quarterly IFRS presentation material for the Regional COO, including contextual variance explanations.
Support EVP, SVP & Director, Asset Management with Strategic Initiative Analyses and Formal Reporting
- Responsible for gathering data, coordinating due diligence, preparing desktop valuations and underwriting analyses for various Strategic Initiatives which may impact the region, including acquisitions, dispositions, financings, redevelopments and new developments using ARGUS Enterprise and MS Excel.
- Consolidate individual asset valuations into portfolio scenarios in order to facilitate portfolio-level valuation analyses, including embedded optionality to evaluate partial portfolio dispositions and acquisition investment returns.
- Assist in analyzing and implementing leasing strategies, including providing timely and accurate NER and valuation analyses of major lease transactions as well as stewarding financial covenant reviews of proposed tenancies.
Analyze redevelopment and value-add opportunities within the existing DTLA portfolio.
- Assist and coordinate the preparation of quarterly DTLA Board of Directors and DTLA Fund reporting with the BPY Fund Management team.
- Responsible for maintaining resourceful sales and capital market comparatives vis-à-vis strong industry relationships.
- Contribute to the thorough completion of all tasks related to the annual Business Plans, including coordinating and collaborating with respect to the generation of: specific leasing assumptions and inflation curves, operating and capital budgets, modelled recovery profiles and individual asset strategies.
- Assist with completion of final Business Plan deliverables to the respective Regional COO, Global COO and DTLA Fund Partners.
- Maintain detailed interim and year-end supporting schedules as needed for internal/external auditors related to regional assets and assist with corporate Audit Compliance requirements as needed.
- Contribute to a flexible, dynamic, and team-oriented working culture that fosters personal development and a positive attitude.
- Must be able to work consistently on site in the downtown Los Angeles Office.
- Strong real estate financial modeling skills with in-depth knowledge of Argus (preferably Enterprise).
3+ years of extensive exposure to commercial office real estate valuation modeling, additionally beneficial.
- Excellent numerical and arithmetic aptitude with a sound understanding of NPV, IRR, DCF and TVM principles.
- Strong analytical ability, understands minutiae as well as macro-level impacts and provides meaningful conclusions.
- Strong communication and organizational skills; able to efficiently prioritize multiple tasks and coordinate effectively with multiple departments and external parties.
- Self-motivated and proactive, both with respect to managing workload and own professional development.
- Confidently able to provide results and present to Senior Executive Management under tight deadlines.
Proven history of excelling within team dynamics.
- Proficient in Microsoft applications with Advanced Excel.
- Undergraduate or Master’s Degree in Finance, Economics, Business Administration or Real Estate.
Professional Financial or Commercial Real Estate underwriting designation additionally beneficial.
- Financial Analysis
2+ to 5 years
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