Madison Marquette - Asset Management Analyst

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Location

Los Angeles, CA

Description

Develop a basic understanding of Argus Enterprise, budget analysis, and financial reporting.

• Develop a general understanding of the firm’s property management and asset management policies, procedures, and guidelines; also develop a broad knowledge of joint venture agreements, loan documents, lease agreements, property management agreements, development agreements, service contracts, and title documents.

• Develop a foundational understanding of the underlying economic, market, and industry trends by attending webinars, as assigned; prepare summary emails to the leadership of salient points.

• Assist asset managers with leasing and operations, including:
  

  • Extracting metrics from a variety of data sources, including CoStar, MRI, and Argus Enterprise, to support the development of strategic business plans and property operating budgets.

  • Reviewing monthly reporting packages and cash follow distributions/contributions, evaluating variances and accuracy, and resolving any discrepancies.

  • Prepare detailed financial analyses of operating performance, leasing trends, submarket analytics, and competitive property analysis.

  • Maintaining reputation, relationships, and efficient information flow between asset managers, third-party property managers, joint venture partners, portfolio managers, and executives.

  • Conducting periodic physical inspections of assets, touring competitive properties, and developing industry knowledge and relationships, and commanding a general overall understanding of the market and submarket dynamics.

  • Review Common Area Maintenance reconciliations generated by third-party property managers against tenant leases and property operating expenses. Partner with accounting to ensure amounts billed tie with the general ledger. Submit reconciliation approval worksheets to the asset manager for approval and processing.

  • Assist with Property Management Agreement and Leasing Services Agreement amendment, restatement, or extension processes.

  • Create Economic Lease Analysis for each new lease proposal utilizing ARA’s internal analysis model.

  • Participate and provide input in negotiations from the LOI stage through lease execution.

  • Participate in weekly operational calls with property managers to discuss asset strategy, vendor engagement, asset performance, capital projects, leasing trends and marketing strategy, and other business matters.

  • Assist in the preparation and drafting of committee recommendation memos to the executive committees for asset repositioning, hold/sell analyses, dispositions, acquisitions, development, large capital projects, and key legal documents.

  • Support quarterly accounting reviews of each asset, including business plan and budget performance.

  • Review and certify rent roll accuracy to ensure accurate reporting.

• Conduct thorough market research to validate:
  

  • Asset acquisition or new development underwriting;

  • The proposed market positioning and strategy;

  • Comparable sales data and future development pipeline.

  • Assist the Investment Group in the overall underwriting, committee recommendation drafting, due diligence, and asset management transition processes, as needed for acquisitions and new developments

  • Review quarterly asset valuations and follow-up on any discrepancies or inconsistencies; interface with appraisers and asset managers to finalize value.

  • Support dispositions activities by preparing the asset for sale, assisting in drafting the committee recommendation, interfacing with the disposition team, and supporting the overall due diligence and closing processes.

• Support asset managers with oversight of the development and construction process, including:
  

  • Conduct detailed reviews of construction draw packages and related monthly development and financial reports;

  • Conduct periodic site inspections with asset managers and construction services team;

  • Participate in weekly Owner, Leasing, and Partner status calls;

  • Prepare monthly development status reports and presentations for executive management;

  • Develop a general understanding of the construction process, terminology, and AIA documents;

  • Prepare wire transfer requests for executive management approval.

• Support portfolio management to:
  

  • Track and report key issues and handle ad-hoc requests from the operational portfolio manager.

• Support quarterly and annual valuations processes for assigned assets, including:
  

  • Review quarterly asset valuations and follow-up on any discrepancies or inconsistencies; interface with appraisers and asset managers to finalize value.

  • Verify the accuracy of the rent roll, recoveries, market lease assumptions, valuation metrics, operating expenses, and capital expenditures.

• At the direction of management, support other analysts and associates in the execution of the ad-hoc periodic requests that further department or firmwide initiatives.

• Other activities that may be assigned from time to time.

The above listing represents the general duties considered essential functions of the job and is not to be considered a detailed description of all the work requirements that may be inherent in the position.

Qualifications

• Bachelor's degree in Finance, Real Estate, or related field required and at least one year of direct experience.

• A demonstrated interest in commercial real estate, analysis, or asset management through a combination of internships and coursework.

• Strong finance and mathematical skills including, but not limited to, the ability to calculate and understand discounted cash flows, net present value, internal rate of return. Capable of generating and interpreting statistical data; demonstrated analytical skills, including financial analysis.

• Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists - the ability to interpret a variety of instructions furnished in written, oral, or schedule form.

• Familiarity with various software for word processing and spreadsheet preparation. Demonstrated proficiency and precision in Microsoft Excel with the ability and understanding of how to build formulas. Familiarity with creating ARGUS Enterprise models and reviewing and adjusting Altus models.

• A general understanding of accounting and financial reporting is needed.

• Strong organizational skills and the ability to follow processes.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Regularly required to sit, talk or hear. The employee is frequently required to stand; walk; use hands to finger, handle, or feel documents and office equipment. May occasionally be required to lift up to 10-15 lbs. pounds a distance of 30 feet as needed. Must be able to move freely throughout the location, including moving up and down stairs. Must be able to sit for up to 70% of the work day.

The job tasks are performed in an office environment with moderate environmental conditions present, such as temperature, noise levels, etc.Madison Marquette is an equal opportunity employer.