Associate - Multifamily Asset Management

Job DescriptionJob DescriptionDescription:

COMPANY

Dallas-based, privately held commercial real estate development and investment management company with exceptional performance specializing in value-add and opportunistic real estate investments. With an entrepreneurial spirit and proven 40 year track record across several market cycles Westmount Realty Capital has amassed a portfolio of over 10 million square feet of industrial and office properties and 5,000 multifamily nationally.

OPPORTUNITY

The Asset Management Analyst/Associate will be responsible for providing analytical support to the Asset Management team, which is responsible for managing and optimizing the asset value of Westmount’s Multifamily real estate portfolio. Individuals in this role are involved in all aspects of the managing and reporting process including underwriting, leasing, budgeting, appraisals and valuation, and project monitoring. This will include financial modeling and maintenance of various department statistics.

KEY RESPONSIBILITIES / DUTIES

The activities listed here are not all-inclusive; rather, they indicate the types of activities normally performed by this position. The successful candidate will be able to demonstrate core competencies in the following areas:

• Primary responsibilities will include managing a portfolio of 2 to 4 multifamily assets, which includes business plan preparation and presentation, developing monthly cash flow projections, monthly and/or quarterly reporting, oversight of third party service providers, capital plan oversight, business plan execution, and ultimate disposition of real estate assets.
• Create and update property level valuation models on a quarterly basis or as needed; provide analysis of property performance relative to budgeted targets
• Assist Asset Management team in the evaluation of asset performance against relevant benchmarks, as well as assist in the development and execution of asset strategies
• Financial analysis related to hold vs. sell decisions, leases, capital projects, or other investment decisions impacting asset value
• Reviews and approves annual budgets for the portfolio; review and recommend capital expenditures; ensure timely and accurate compliance with approved budgets.
• Work with Asset Management team to complete monthly, quarterly and annual reporting, and budgets
• Ensures that objectives are being met. Prepares and delivers timely, accurate and complete reports.
• Supports all property sales and acquisitions by participating in the due diligence process.
• Develop pro-forma and discounted cash flow models for assets in various stages of operation (i.e., stabilized, distressed, value-add, lease-up)
• Work directly with the principals and other key company personnel in all aspects of asset management, refinancing’s and dispositions, including all debt and equity components of new and existing transactions
• Monitor specific performance measures on a weekly and monthly basis to identify trends and opportunities and provide regular updates to senior management.
• Prepare analysis of historic portfolio and property results in comparison to benchmarks useful in evaluating performance
• Coordinates the development of the Annual Business Plan including the review and approval of annual property operating and capital budgets
• Write, organize, and present conclusive investment summaries and memorandums
• All other duties as assigned and associated with the operation of a commercial real estate portfolio

REQUIREMENTS/QUALIFICATIONS

• Bachelor’s degree in Business Administration, Real Estate, Finance, Accounting or related field
• 3 to 5 years of relevant business experience, preferably in multifamily real estate
• Ability to understand present value concepts and financial terminology
• Proficiency in Word, Excel and Outlook; experience with MRI or OneSite a plus
• Ability to prioritize, organize, time manage, balance competing deadlines, and be a self-starter that is eager to learn with a team player mentality
• Ability to comprehend, analyze, and interpret various types of industry-standard documents such as RFP’s, lease agreements, amendments, financial pro-formas, and others
• Analytical problem solver that can creatively devise solutions and provide tactical advice/implementation strategies
• Strong research, due diligence, and project management capabilities
• Ability to synthesize large quantities of information
• Superior communications skills, both verbal and written, and the ability to work effectively with individuals at all levels

COMPANY INCENTIVES & PERKS

• Health, Vision & Dental Benefits
• 20 PTO days plus 10 company paid Holidays
• E-Shares: Employee offered direct investment opportunities
• 401k benefits, allotted % paid by company regardless if you choose to contribute
• Casual dress code
• Opportunities for professional development and advancement
• A dynamic and collaborative work environment

SALARY

$100,000 - 120,000k

Requirements: