Associate, Asset Management/Investments

Company: Carmel Partners, Inc.
Location: San Francisco
Posted on: November 13, 2024

Job Description:

Carmel Partners, one of the nation's leading specialists in real estate investment management, with expertise in the investment, development, and construction of multi-family real estate, is seeking an Associate, Asset Management/Investments in our San Francisco Regional Office.SummaryThe Associate position's primary objective is to evaluate new opportunities, enhance operations, and optimize returns for individual assets and the overall property portfolio. This involves underwriting new acquisitions, executing business plans, and maximizing the value of held assets. The Associate oversees a small portfolio of assets in an assigned region.What you'll do

• Work closely with Senior Vice Presidents and Directors of Asset Management and Investments to maximize operations of a regional portfolio of properties and evaluate new opportunities.
• Support Asset Management, Development, and Investments Teams with analysis for existing and potential deals.
• Oversee the strategic and financial performance of assigned properties.
• Conduct detailed monthly financial reviews to monitor property budgets and performance against benchmarks.
• Prepare monthly cash flow projections for a portfolio of assets.
• Collaborate with onsite managers and external parties to maintain leasing targets.
• Provide ongoing analysis of and make recommendations for rent & concession strategies, property financials, leasing trends, expiration schedules, submarket fundamentals, and portfolio trends, including contributions to revenue management/pricing calls with analysis and recommendations.
• Participate in annual budgeting as well as preparation and presentation of Quarterly Asset Reviews and Annual Asset Level Business Plans for Carmel Senior Leadership, including detailed analysis of actual property performance compared to goals, budget, and historical performance.
• Participate in underwriting potential acquisition and development deals and assist with the due diligence process.
• Assist in quarterly valuation and disposition monitoring.
• Assist in the disposition process to maximize asset sales price.
• Coordinate with brokers on marketing materials and due diligence.
• Conduct market research to understand competitor offerings, market trends, and shop competitive properties annually.
• Prepare preliminary financial packages for the Investment Committee.
• Effectively utilize Asset Management's operational software systems for reporting, tracking, and analysis.
• Lead initiatives to enhance company-wide tools, processes, and deliverables.
• Travel to Carmel's Seattle regional assets on a monthly or bi-monthly cadence.Who you are
  • Ability to communicate effectively with and present information to Senior Management.
  • Excellent written, verbal, and analytical skills.
  • Creative, self-motivated, and intellectually curious to drive results independently and as part of a team.
  • Excellent organizational and time management skills - able to manage and execute on multiple projects simultaneously.
  • Values relationships - thrives in a team-oriented setting.
  • Passionate about the investment and real estate industries.What you'll bring
    • Bachelor's degree in real estate, finance, or related field required, MBA a plus.
    • 4+ years' professional experience in commercial real estate, financial analysis, or asset management (multifamily preferred) with 2+ years' experience in underwriting and acquisitions.
    • Excellent analytical, financial, and quantitative skills, with the highest level of attention to detail.
    • Strong presentation skills enabling the ability to make written and oral recommendations and interact effectively with internal and external stakeholders.
    • Team player with a commitment to excellence and a high level of integrity.
    • Proficient to advanced skills with MS Office (Excel, PowerPoint, Word, Outlook).
    • Proficiency in property management systems a plus (Yardi, REBA, etc.).Compensation and BenefitsCompensation and Benefits play a key role in your choice of employer, and our goal is to invest in you and your experience here. You'll find a competitive compensation and comprehensive benefits package at Carmel.Base salary range for this position is $130,000 to $150,000. The Company provides this compensation range and general description of other compensation and benefits that it, in good faith, believes it might pay and/or offer for this position. Total compensation for this role also includes a bonus incentive in addition to the base salary. The Company reserves the right to ultimately pay more or less than the posted range and offer additional benefits and other compensation, depending on circumstances not related to an applicant's sex or other status protected by local, state, or federal law.Choose CarmelAt Carmel Partners, our mission is to create exceptional multifamily communities that enrich lives and neighborhoods.Founded in 1996, Carmel is one of the nation's leading specialists in real estate investment management, focusing on U.S. multifamily development and construction, renovation, and debt investments. Through its vertically integrated platform, Carmel seeks to achieve superior risk-adjusted returns across varying market cycles by investing in relatively supply-constrained, high barrier-to-entry markets in the United States.A place for youHere at Carmel, we don't just invest in buildings, we invest in careers. If you don't meet every qualification listed in this job posting, we encourage you to apply anyway. We are building diverse teams of unique talent and strongly encourage people from underrepresented groups to apply. Everyone takes their own path to get here. Join us!DEI StatementWe are committed to equitable hiring and promotion practices. We lead with integrity and believe in building a diverse and inclusive workplace, rooted in a culture of mutual respect. By welcoming varied backgrounds, perspectives, and ideas, we cultivate engagement and a sense of belonging that creates community within, so Carmel can build communities that thrive.Carmel Partners is an Equal Opportunity Employer, committed to providing employees with a work environment free of discrimination and harassment. Employment decisions are based on business needs, job requirements, and individual qualifications without regard to race, color, religion or belief, gender, gender identity, gender expression, sexual orientation, pregnancy and reproductive decisions, family or parental status, national origin, age, disability, veteran status, or any other status protected under local, state, or federal laws.Notice to Third-party Agencies: Carmel Partners does not have any standing offers to pay any referral compensation or recruitment fees for any open positions. Unless there is a signed agreement providing otherwise, Carmel Partners will not pay any compensation to any employment firm, staffing agency, recruiter, or other third party for any resumes or candidate profiles that are provided, even if the individual is hired by Carmel Partners. In the event a recruiter or third-party agency/firm submits a resume or candidate profile without a signed active agreement, Carmel Partners
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Keywords: Carmel Partners, Inc., Watsonville , Associate, Asset Management/Investments, Executive , San Francisco, California