Associate, Multifamily Asset Management
Company: Pacific Urban Investors
Location: Palo Alto
Posted on: May 13, 2022
Job Description:
About the Company: -Pacific Urban Investors ('Pacific') is an
industry leading multifamily investment firm and pension fund
manager. Headquartered in Northern California's innovative Silicon
Valley, Pacific has expanded nationwide with additional offices in
Washington, Colorado, New York, and Washington DC. Pacific is
focused exclusively on the multifamily rental space. The firm has
successfully deployed well-timed strategies to the benefit of its
institutional partners and stakeholders throughout the United
States. Since its inception in 1998, Pacific has completed over $7
billion in apartment transactions on behalf of its own account and
those of its strategic institutional partners. Today, Pacific has
over seventy professionals and an owned apartment portfolio in
excess of $5 billion. This position is part of Pacific's Structured
Finance team. The investment strategy of Pacific's Structured
Finance Group focuses on providing joint venture LP and co-GP
equity capital, as well as preferred equity, to developers and
operators of real estate to facilitate the development and/or
repositioning of multifamily properties. Job Description: The
general role of the Associate, Asset Management is to actively
assist in the management of a portfolio of multifamily assets on
the West Coast to optimize asset value. The Associate, Asset
Management will assist in the evaluation of asset performance
against investment benchmarks, and in development and execution of
asset strategies. Specifically, they will be responsible for
monitoring all aspects of the leasing performance and impact on
value through ad-hoc modeling, hold/sell analysis, and alternative
scenario modeling/analysis. They will also be responsible for
providing periodic support and coordination to the preparation of
the property reports and participate in the budget approval
process. -Primary Duties & Responsibilities:
- Attend weekly or bi-weekly check-in calls with sponsors and
property managers to review and approve leasing, renewals, and
renovation (if applicable) strategies.
- Research and analyze submarkets in all investment submarkets;
work with sponsors to track rents and position assets to gain
competitive advantages.
- Prepare hold/sell analysis to assist critical asset decisions;
contribute asset and market level feedback to ensure accurate
valuations are maintained; prepare ad hoc financial modelling to
provide analytical tools for decision making.
- Work with partners to determine additional capital needs and
scope; obtain approval if additional capital is recommended; review
and prepare capital call funding requests and coordinate with
accounting to fund required capital.
- Assist in investment, refinancing and disposition due diligence
and closings; coordinate with various internal and external parties
to ensure successful transaction closings.
- Review and approve annual business plan, operating and capital
budgets, monitor variance comments in the financials; provides
analysis of property performance relative to budgeted targets.
- Work with accounting and respond to questions and
requests.
- Prepare quarterly and monthly reporting for various internal
groups.
- May perform other duties as needed. -Requirements:
- Bachelor's degree in Real Estate, Finance, Accounting,
Economics, or related field from a 4-year college is required. Post
graduate education a plus.
- 3 - 5 years' experience in commercial and/or multifamily real
estate, underwriting or valuation experience is required.
- Analytical problem solver that can creatively devise solutions
and provide tactical advice/implementation strategies.
- Effective interpersonal, communication (speaking and writing)
and listening skills.
- Strong financial skills including fluency with Microsoft Excel,
Word and PowerPoint are essential.
- Ability to understand and interpret various types of real
estate related agreements and language; Ability to undertake
detailed analyses to make well-reasoned, decisive
recommendations.
- The ability to multi-task in a complex, high-volume
environment, and work with all levels of management and personnel
on critical projects are required. Ability to prioritize, organize,
time manage, balance competing deadlines, and be a self-starter are
essential.
- This job requires periodic overtime and the potential for
limited travel within the United States. Notes:
- Pacific would like to thank you for applying; for efficiency in
evaluating candidates, please provide information to the contact
noted herein and do not contact staff members, directly.
- Due to the volume of responses received, only qualified
candidates will receive a response.
- Local candidates preferred.
- Pacific is currently following a hybrid model until further
notice.
Keywords: Pacific Urban Investors, Palo Alto , Associate, Multifamily Asset Management, Accounting, Auditing , Palo Alto, California
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