Associate or Senior Analyst, Investments Group

Summary:

Perform financial analysis and transaction support for Capital Transactions and Asset Management. Assist senior staff with market coverage and/or provide coverage for a new or small market or submarket. Perform analysis with an emphasis on Argus models and property valuations for assigned properties within the portfolio. May perform transaction closing responsibilities.

Essential Duties & Responsibilities include the following. Other duties may be assigned.

Capital Transactions Responsibilities:

All work products should be high quality with tasks performed in an accurate, complete and timely manner. Reviews and analyses should be accurate, thorough, well supported, and demonstrate an understanding of the business.

• Effectively complete acquisition, disposition and financing process-related tasks within established timeframes. Tasks include but are not limited to:
  
  
  
  • Completion of loan and compliance-related documentation
  • Completion of marketing and due diligence materials
  • Reviewing legal documents
  • Summarizing financing agreements
  • Preparing closing statements
  
  
  
  
• Coordinate with Asset Management and other business groups at appropriate stages of a transaction to ensure timely and accurate transition and closure, and compliance with applicable laws, regulations, policies and procedures, e.g. loan compliance issues, leasing parameters, and reserve requirements.
• Gather and analyze data to assist in pricing and structuring potential transactions. Prepare pro forma projections and analyze pro forma returns.
• Evaluate and analyze existing and potential investments or owned properties including market analysis, economic and demographic trends, absorption rates, and market competition using financial modeling software (Argus and Excel).
• Perform due diligence including lease review and tenant mix, suitability and cost of construction, rental rates and expenses, and financial conditions of tenants.
• Incorporate sustainability factors, including building ratings such as ENERGY STAR/LEED and base-building efficiency investments, into acquisition due diligence, assessment, and preparation of the asset strategy.
• Prepare market overview to assist in covering target markets - includes updating information on competitive comps and investment brokers.
• Develop and maintain awareness of external markets including networking at peer level and surfacing acquisition and other opportunities to senior management as appropriate.
• Actively participate in training and orientation of new employees, including but not limited to, providing technical direction.

Asset Management Responsibilities:

• Perform accurate and complete net present value analysis for properties within the portfolio within established timeframes.
• Thoroughly analyze the impact of lease transactions to property value and yield within established timeframes.
• Thoroughly analyze the impact of capital projects to property value and yield within established timeframes.
• Accurately and thoroughly review assigned sections of the monthly MAP report to ensure assumptions and forecast are consistent with the investment strategy for the asset within established timeframes.
• Accurately and completely update property valuations as required within established timeframes.
• Develop and produce accurate and complete required reporting to lenders, partners, and Shorenstein senior management within established timeframes.
• With Capital Transactions, accurately and thoroughly complete transition-related tasks including but not limited to developing the budget, reviewing leases, reviewing offering memorandum, responding to lenders to resolve underwriting questions, reviewing loan documents, and running models to show budget implications within established timeframes.
• Assist in the review of the annual operating budget to confirm consistency with property strategies.
• Evaluate sustainability risks and opportunities, including building ratings such as ENERGY STAR/LEED, for assets under management. Ensure assets are managed in a manner consistent with market leading sustainability practices when practicable.
• Perform Asset Manager duties for assigned assets:
  
  
  
  • Oversee the development of annual property operating budgets. Ensure annual budgets are consistent with the annual investment plans.
  • Monitor the overall performance of the assigned assets against plan and budget and reforecast monthly.
  • Review monthly MAP reports prepared by the Asset Team (consisting of the Asset Manager, leasing, property and accounting staff), and recommend monthly distributions or capital calls to the Asset Manager.
  • Provide information and analysis to Capital Transactions staff in executing sales, financings and refinancings.
  • Coordinate the transition of acquisitions from Capital Transactions to the Asset Team including development of the budget and Blue Book.
  • Coordinate tax certiorari proceedings.
  • Provide analysis to Asset Manager and coordinate as appropriate with external parties in direct lease negotiations.
  • Obtain partner and lender lease approvals.
  • Prepare and provide accurate and complete loan compliance documents to Asset Manager.
  • Oversee Argus base case models for assigned assets.
  • Supervise resolution of all tenant challenges to expense and tax pass-throughs.
  • Review and approve annual property partnership audits prepared by independent audit firm in collaboration with SRS accounting staff.
  
  
  
  
• Participate in special projects as assigned completing high quality deliverables within established timeframes.

General Responsibilities:

• Provide excellent customer service to both external and internal customers by:
  
  
  
  • Building positive relationships with customers.
  • Taking initiative to identify customer needs and provide service that meets or exceeds customer expectations.
  • Communicating effectively in person as well as via telephone and email.
  • Resolving difficult situations through the use of effective problem-solving skills.
  
  
  
  

Supervisory Responsibilities: None

Essential Skills & Qualifications:

• Strong working knowledge of real estate valuation as evidenced by 3-5 years of experience in a related function.
• Demonstrated ability to define problems, to collect data, to establish facts, and draw valid conclusions. Demonstrated ability to interpret a variety of information including information in technical and/ or mathematical form, and deal with multiple abstract and concrete variables.
• Demonstrated ability to consistently produce high quality work under tight time frames.
• Demonstrated ability to effectively resolve problems that balance multiple needs and interests.
• Demonstrated ability to express opinions and feedback in a clear and constructive manner.
• Demonstrated ability to maintain up-to-date knowledge of the business and market.
• Demonstrated ability to perform more complex quantitative and qualitative analysis of deals or assets using financial modeling techniques as evidenced by 2-3 years' experience in a related function.
• Demonstrated ability to present ideas, instructions and information effectively, both orally and in writing. Ability to effectively share information to keep others informed using appropriate communication methods.
• Demonstrated ability to effectively interact with other departments to ensure a high quality work product.
• Demonstrated ability to provide thorough analyses supported by numbers and facts.
• Demonstrated ability to find, access, evaluate and use information.
• Demonstrated ability to read, to analyze, and interpret complex documents.
• Demonstrated ability to respond to changing and sometimes ambiguous situations.
• Advanced proficiency in Microsoft Excel and complex financial modeling software programs. Extensive ARGUS experience required.
• Demonstrated ability to manage multiple projects and priorities to conclusion within agreed upon deadlines.
• Demonstrated ability to view every action and decision in terms of client impact and to understand and anticipate client needs.
• Demonstrated ability to complete objectives and projects with broad managerial direction. Work is generally reviewed at the time of completion.

Education/Experience:

• Bachelor's degree (B.A. or B.S.) in Business, Finance or related field from a four-year college or university. Master's in Business Administration (M.B.A.) a plus.
• Minimum 3 years' experience in investment real estate, preferably with experience in secured and unsecured real estate finance or related work experience in investment business.

Certificates, Licenses, Registrations: None

SEC Compliance:

• Shorenstein Investment Advisers (SIA) is registered as an investment adviser with the U.S. Securities and Exchange Commission ("SEC"), and SIA and its employees are subject to SEC regulation and applicable federal securities laws. Employees will be required to abide by, and certify their compliance with, SIA's compliance program and the federal securities laws, including, among other requirements, pre-clearance and reporting obligations with respect to personal securities trading, political contributions and other matters.

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 the job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Working Environment:

• Work environment characteristics are representative of those an employee encounters while performing the essential functions of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• The employee works in an office environment.
• Travel may be required up to 15% of time on the job.

Salary Range:

• Senior Analyst: $130,000 - $145,000
• Associate: $140,000 - $160,000
• Salary range is consistent with what the business reasonably expects to pay a new hire. Actual pay is subject to a number of factors, including geography, experience, education, etc., and is subject to change).