Real Estate Asset Management Associate

Newly created role within a boutique institutional real estate investment firm in Boston. Our client is hiring an Associate to support a newly promoted Director of Asset Management.

The ideal candidate will have (2-5 years) some type of financial analysis experience looking at deals or proposed investment options from a real estate investment firm, operating company, public accounting firm or financial services organization.

Compensation is commensurate with experience and background. $80,000-$115,000 base salary and a bonus range of 15%-30%.

Primary Role Purpose: The Associate is responsible for supporting the Asset Management function of the firm's operating assets, developments, and acquisitions. The Associate is responsible for working with the firm's operating partners in the development and execution of property level business plans to maximize asset level performance for the company’s real estate investments. The Associate is responsible for the review of monthly operating performance, monitoring of weekly sales activity, and ad hoc analysis of operating results as directed to drive fund performance.

Primary Responsibilities:

• Reporting: Take ownership of weekly/bi-weekly updates to occupancy reporting for Asset Management meetings. Work with the Director and Managing Director to design enhanced data collection and reporting of key sales and financial metrics. Oversee and enhance monthly/quarterly asset level financial reporting (P&L statements, asset-level write ups, etc.). Review asset level monthly financial packages and provide feedback to the Director regarding income statements, balance sheets, cash flows, and proposed distributions or capital needs.

• Analysis: Provide ad hoc analyses on individual property performance as directed to include rental rate and volume analysis, trended sales metrics, care fee and acuity analysis, operating expense benchmarking and labor management. Become familiar with joint venture documents, including Facility Management Agreements, Joint Venture Agreements, Loan Documents, Development Agreements, etc. to facilitate conversations with partners. Take ownership of industry data mining software (NICMAP) to leverage in analysis of existing and potential assets.

• Annual Business Plans: Review and provide analysis and feedback on annual business plans to firm and Joint Venture partners.

• Due Diligence: Participate in due diligence of potential acquisitions with specific attention to competitive landscape, historical and forecasted occupancy and average rates, staffing guidelines, operating expenses, and operating platform(s).

Skills/Experience:

• BA/BS in Accounting, Economics, Finance, or other similar quantitative focus required.

• 2-5 years relevant experience including financial analysis (P&L, balance sheet, cashflow) with an operating or real estate business.

• Strong analytical skills and demonstrated advanced proficiency in Excel modeling, PowerPoint, and proficiency or willingness to become proficient in other software as needed.

• Ability to effectively present information in a clear and presentable format and respond to questions from groups of managers and clients.

• Solid knowledge of accounting and real estate finance principles.

• A keen interest in learning and growing in an entrepreneurial setting.

• Excellent problem solving, ability to think critically, and general quantitative skills are a must.

• Ability to multi-task and demonstrate strong attention to detail, accuracy, and efficiencies at all times.

• Strong oral and written communication skills.

• High degree of integrity and attention to role as fiduciary.