Analyst, Asset Management
Employment Type: Full-Time
We are seeking an Asset Management Analyst who will be responsible in supporting the department’s goal of maximizing operations and returns at the individual asset level and the overall fund/portfolio level. The analyst will prepare and analyze data, be responsible for developing and maintaining comprehensive reporting, and work on ad hoc projects.
Carmel Partners is a well-capitalized private real estate firm with expertise in investment and development of multi-family real estate. Our mission is to create high quality communities using innovative ideas and solutions to enhance the value of our investors, associates and residents
Who you are
You have a working knowledge of real estate investment, property management, and multifamily development or renovation, enjoy market research and are able to support multiple projects with ease. A creative problem solver, you’re productive in collaborative team settings as well as on your own. You’re curious and have a passionate interest in learning and growing within the industry.
What you’ll do Support the Asset Management Team in regular oversight for assigned properties. Provide market research for current assets and potential acquisitions Identify opportunities to exceed benchmarks without negatively impacting property operations or the property’s competitive position within the submarket Review weekly reports with leasing, occupancy, and trend information and follow up with any questions regarding activity from the prior week Review monthly variance between budgets and actual expendituresParticipate in monthly revenue management calls to review lease pricing at each propertyMonitor additional key property metrics such as unit turnover timing, renewal rates, and lease expiration schedules, and bring attention to any potential issues that could negatively impact property performanceParticipate in the preparation and presentation of Asset Level Business PlansQuarterly Asset Reviews: participate in quarterly updates on the annual strategy and goals, and compile property-specific questions and issues to highlight or discuss with senior leadership and assist in tracking any action items based on those discussionsProperty Budgets: participate in annual budgeting process including detailed review of major line items, comparisons of budget assumptions to historical property performance and to industry benchmarksReforecasts: participate in quarterly reforecast process including detailed review of major line itemsContribute to additional calls or coordination activities based on specific property needs related to lease up activity, disposition preparation, major capital project implementation, or retail leasing Develop and maintain strong knowledge of assigned properties and regions Assist with shopping competitive property set for properties in assigned region; understand how assets compare to the competition in terms of pricing, location, amenities, unit finishes, management, customer service, etc.Make occasional recommendations on whether current pricing reflects market dynamics and whether opportunities exist to cost-effectively improve property position within the submarketAssist with due diligence in evaluating capital projects / renovations. Assist team in rent and expense underwriting as a part of the due diligence process for any new acquisitions in assigned regions: Work closely with third-party property management company to populate expense projections based on proposed project design characteristics, and analyze in comparison to existing and benchmark propertiesShop competitive properties and assemble research and analysis of market rents to fully understand property positioning within the marketCollect data, photos, and other information to assess historical rent performance, unit finishes, amenities, and other project characteristics of the competitive property setCustomize and enhance existing underwriting tools/models to improve analysis and efficiency Property and Portfolio Analysis: Conduct portfolio and property-level research projects, utility expense analysis, and review ancillary income contracts and payment schedules to identify business opportunities.Review real estate tax assessments for assigned properties and participate in discussions and third-party real estate tax consultants regarding tax appeal strategies Coordinate with other departments and respond to any requests for property-level data and metrics to report to investors, lenders, partners, or others Coordinate at least one major team process such as Asset Level Business Plans, Quarterly Asset Reviews, Budgets, Reforecasts and/or other special projects based on business needs (assembling and editing documents, etc. with direction) Other duties, responsibilities and special projects as assigned
What you’ll bring Bachelor’s degree in Real Estate, Finance, or related field 2+ years of professional experience, ideally with a portion of that time in the real estate investment business Exceptional financial and numerical analytical skills Some experience in financial modeling An understanding of real estate valuation processes, real estate underwriting, discounted cash flow analyses, and return on investment principles Proficiency in MS office including Excel, PowerPoint, and Word
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