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Vice President, Asset Management – Retail

Job ID 264
Chicago, IL

Position Summary

The Vice President, Asset Management is responsible for assisting with the overall asset management of a portfolio of retail real estate assets, which are a part of the firm’s core and value-added separate accounts and commingled funds. These assets are located throughout the country.

Essential Functions

Asset Management

  • Oversee management of property operations by supporting the strategic planning, management, leasing, financial analyses, operating and capital budgets, returns on an IRR and time-weighted basis, and reporting on a quarterly and annual basis with regards to the performance of each asset.
  • Oversee management of property operations for retail assets through effective coordination of third-party property managers, leasing staff, construction managers, and others.
  • Support the development of strategic business plans for each asset which governs its daily operations and position in the marketplace
  • In partnership with senior and executive vice presidents, identify, develop and implement a value-added strategy on existing assets as well as potential acquisitions by maintaining a thorough understanding of each assigned asset. Strategies may include but are not limited to, renovations relating to repositioning, and lease up as well as ground-up development.
  • Assist with drafting and presenting material recommendations regarding the property’s operations, capital plan or investment strategy for Investment Committee.
  • Support implementation of capital improvement plans, when appropriate, consistent with Business Plan and market position of the asset.
  • Manage the tenant improvement process in an efficient and timely manner.
  • Work closely with property managers and consultants to develop strong relationships through sound leadership and regular review of property management reports.
  • Track weekly and monthly status reports from property managers.
  • Understand architectural plans and contracts, engineering studies, schedules, and work with senior and executive vice presidents and attorneys to craft language when appropriate to protect the landlord.
  • Review and negotiate contracts for architectural, construction and other consulting services.
  • Develop tracking schedules for new developments, construction projects, and capital improvement projects.
  • Document all decisions consistent with ARA’s policies and procedures.

Financial Analysis/Valuations

  • Complete asset valuations (hold/sell analyses and annual and quarterly valuations) in an efficient and timely manner.
  • Manage general property level analysis functions (i.e., CAM reconciliation’s, property management contracts, RFPs, construction contracts, and vendor contracts).
  • Prepare and review budgets to implement strategic business plans.
  • Perform economic analyses of all potential lease transactions to verify consistency with budget and proforma.
  • Review and comment on third-party appraisals and brokers’ opinions of value.

Market Analysis

  • Conduct in-depth market research to fully understand the position of each asset in its respective market from a leasing and investment perspective and all underlying factors which may influence it.
  • Update demographic and market information for each asset area for strategic planning and reporting purposes.
  • Develop and maintain strong relationships with local leasing and investment brokers to facilitate leasing and investment activity.

Due Diligence

  • Conduct review and analysis of assets that are to be acquired by the firm. This work will occur during the initial evaluation of the property and during the due diligence of the asset to ensure that each asset can be managed to the level as outlined in the acquisition, underwriting, and long-term budget.
  • Support the acquisition/due diligence process, including the selection of appropriate property managers and leasing agents, establishing initial capital and operating budgets, and review of acquisition underwriting assumptions.
  • Participate in the evaluation and review of each asset to be acquired by the firm in both the core and value-added space.
  • Work with Investments to develop long-term models to support the acquisition.
  • Work with the Investment Group to create and present purchase recommendations to the Investment Committee.
  • Perform in-depth market research to support all underwriting assumptions incorporated into the acquisition model.
  • Review leases and lease abstracts, capital improvement budgets, and operational budgets.
  • Participate in the physical inspection of the asset to understand the impact of any deficiencies on underwriting including conducting tenant interviews to understand the financial position of the primary tenants.

Leasing

  • Analyze financial terms of lease proposals, using effective lease/rent calculations and net present value for leases. Determine if leases are consistent with current market conditions and meet with long-term asset expectations from a financial perspective.
  • Draft and negotiate real estate lease proposals and leases, and make appropriate recommendations to senior management.
  • Maintain an understanding of the property’s position in the context its market and primary competitive set to ensure the property is priced appropriately and are consistent economically with its peer group.
  • Work with the Leasing to create a strategic and tactical marketing plan for each asset.
  • Work with tenants and brokers to attract, qualify and maintain tenants and achieve favorable lease terms.
  • Collaborate with and manage attorneys to resolve legal issues efficiently.

Client Relations

  • Assist with the reporting process (business plans and monthly and quarterly reports) in an efficient and timely manner.
  • Prepare annual portfolio review materials including preparing and delivering written and oral reports to trustees, consultants, and client staff.
  • All other responsibilities which may be assigned from time to time.

Education

  • Bachelor’s degree in business, real estate, finance, accounting, or equivalent required.
  • Advanced degree and/or professional designation preferred (i.e., RPA and/or CPM).

Experience

  • Minimum seven years of related real estate and asset management experience.

Skills

  • Possess a strong working knowledge of mechanics of real estate, including but not limited to interpreting accounting reports.
  • Ability to handle multiple tasks and maintain control and order over same.
  • Ability to organize and summarize complex financial and legal information in writing.
  • Exceptionally well organized, detail-oriented, flexible, self-starter, confident, analytical, technical and resourceful.
  • Strong writing and oral communication skills.
  • Demonstrated interpersonal skills and ability to interact with diverse personality types.
  • Ability to work well under pressure with compressed project timeframes.

Supervisory Responsibilities

  • Associate(s)
  • Analyst(s)
  • Executive Assistant(s) and Office Assistant(s)
  • Property management and leasing personnel

Job Specifications

  • Position type: This position is considered exempt under the Federal Labor Standards Act
  • Expected work hours: 8:30 to 5:30, Monday through Friday with occasional weekends
  • Travel: May be required to drive personal vehicle for business (on occasion)
  • Work environment and physical demands: General office environment includes but not limited to periods of sitting at a computer, standing at a copier and carrying files.

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job.  Duties responsibilities and activities may change at any time with, or without, notice.

American Realty Advisors is committed to equal employment opportunity. We do not discriminate based on an individual's race, sex, religion, color, national origin, ancestry, physical or mental disability, medical condition, marital status, registered domestic partner status, veteran status, sexual orientation, age, gender identity, genetic characteristics, or any other basis prohibited by law. This policy governs all aspects of employment at American Realty Advisors, including hiring, assignments, training, promotion, compensation, employee benefits, employee discipline and discharge, and all other terms and conditions of employment.

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Summer Analyst Intern

Job ID 262
Los Angeles, CA

ARA's Summer Analyst Internship is a rotational program designed to expose interns to ARA’s national portfolio of real estate assets providing opportunities to gain real-world knowledge and experience. The intern will have the opportunity to work in the Investment, Asset Management, and Portfolio Management Groups. Ideally, rotations will be divided up with six weeks in the Investment Group and two weeks each with Asset Management and Portfolio Management.

The Intern is primarily responsible for assisting the Investment Group with the market research, financial analysis, and underwriting of prospective investments in institutional quality core and value-added real estate in addition to other special projects. The position will also gain exposure to the Asset Management and Portfolio Management groups through participation in a number of activities within each department. This position will help the Intern develop fundamental real estate skills that will enable them to demonstrate experience and competency in a broad range of institutional investment and management roles.


Program Objectives:
 

  • Gain a broad exposure to institutional real estate investment and ARA as a firm.

  • This will be achieved through day-to-day work but also facilitated through a weekly meeting with the intern's supervisor to ensure goals are being met. Also, the supervisor will liaison several one-on-one meetings with senior-level representatives of each department throughout the course of the internship.
  • Serve as the point-person for the analysis of one or more live acquisitions to provide real world, broad-based, applicable learning experience. Ideally, take a deal from initial underwriting through investment committee approval to enable contribution to the Formal Recommendation Memorandum.
  • Build on core-competencies of an ARA Acquisitions Analyst through immersion in Argus and Excel modeling, market analysis, and formal business writing.


Responsibilities:

  
The responsibilities of the Intern will include a subset of those items listed below:

Investment Group

  • Assist in the acquisition process by contacting potential sellers, brokers, and other market participants to discuss potential investments and market dynamics.
  • Assist and/or run the analysis and underwriting of potential investment properties including physical, economic and market factors (including specific market analysis of competitive inventory (i.e., ownership, capitalization and basis), demand and effective lease rates).
  • Assist in the preparation of investment committee memoranda and presentations.
  • Assist in the investment due diligence process including reviewing consultant reports such as physical reports, environmental reports, and title reports, among others.
  • Complete detailed abstracts of leases, loan documents, purchase and sale agreements, reciprocal easement agreements, joint venture agreements and other real estate documentation.
  • Assist in the review and comparison of construction specification sheets for proposed development properties to ensure consistent specification standards across investments.
  • Perform critical ancillary investment analyses including, but not limited to, replacement costs analyses, rent vs. buy analyses, occupancy cost analyses.
  • Collect and compile market research data including, but not limited to, comparable lease summaries, comparable sales summaries, supply pipeline information.
  • Assist with specific research projects for the Investment Group and/or Market Research group.

Asset Management

  • Assist in commercial lease review/lease analysis along with a senior member of the Asset Management team and Lease Counsel (if possible).
  • Assist in preparation and drafting of memos to Operations Committee/Investment Committee.
  • Participate in leasing calls with office/industrial brokers.
  • Review a property’s detailed annual budget.
  • Participate in discussions regarding potential capital improvement projects with an emphasis on developing a deeper understanding of required versus elective capital expenditure projects.
  • Participate in pre-disposition discussions and analyses include hold/sell analyses, go-forward IRR analyses, and broker BOV presentations (if possible)

Portfolio Management

  • Understand the role of Portfolio Management, including the participation and review of the investment plan both strategically and tactically.
  • Prepare materials to address ad hoc investor or consultant requests.
  • Work with Marketing Group to address data related questions for fund marketing materials and review the various quarterly and ad hoc monitoring of the Fund’s existing metrics, activities, and performance.
  • Assist with the completion of a quarterly portfolio dash board report.
  • Assist Portfolio Manager with cash coordination and forecasts.
  • Contribute to quarterly investment committee presentations.
  • Assist in writing the quarterly report portfolio manager letter and fund snapshot.

 
Program Details:
  

  • Summer internship (40 hours per week) beginning on June 4, 2018 and ending on August 10, 2018

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties responsibilities and activities may change at any time with, or without, notice.

American Realty Advisors is committed to equal employment opportunity. We do not discriminate based on an individual's race, sex, religion, color, national origin, ancestry, physical or mental disability, medical condition, marital status, registered domestic partner status, veteran status, sexual orientation, age, gender identity, genetic characteristics, or any other basis prohibited by law. This policy governs all aspects of employment at American Realty Advisors, including hiring, assignments, training, promotion, compensation, employee benefits, employee discipline and discharge, and all other terms and conditions of employment.

ARA considers for employment qualified applicants with criminal histories in a manner consistent with the requirements of the Los Angeles Fair Chance Initiative for Hiring Ordinance No. 184652

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Data Analyst/Report Writer

Job ID 273
Los Angeles, CA

The Data Analyst/Report Writer turns data into information, information into insight, and insight into business decisions. This position is responsible for monitoring performance and quality control plans to identify improvements in ARA’s data analytics processes. The Data Analyst works with Information Technology and ARA’s real estate investment and management teams alike to take data usability ideas and make them a reality. 

Essential Functions:

  • Interpret data, analyze results using statistical techniques, and provide ongoing reports.
  • Develop and implement databases, data collection systems, data analytics, and other strategies that optimize data efficiency and quality.
  • Acquire data from primary and secondary data sources and maintain databases and data systems.
  • Identify, analyze, and interpret trends or patterns in complex data sets.
  • Filter and “clean” data by reviewing computer reports, printouts, and performance indicators to locate and correct code problems.
  • Work with management to prioritize business and information needs.
  • Locate and define new process improvement opportunities.

 
Education:

  • Bachelors of Science in Mathematics, Economics, Computer Science, Information Management or Statistics.
  • Certified Data Analyst designation preferred.

 
Experience:

  • Minimum of 3 years’ experience working as a Data Analyst or Business Data Analyst

 
Skills:

  • Demonstrated technical expertise in data models, database design development, data mining and segmentation techniques.
  • Strong knowledge of and experience with reporting packages (Microsoft SSRS), databases (Microsoft SQL), programming (Visual Studio, SSIS, XML, Javascript, or ETL frameworks).
  • Familiarity with developing in Microsoft SharePoint a plus.
  • Knowledge of statistics and analytics, with experience using packages for analyzing datasets (Tableau, Microsoft Power BI, Excel).
  • Strong analytical skills with the ability to collect, organize, analyze, and disseminate significant amounts of information with attention to detail and accuracy.
  • Adept at queries, report writing and presenting findings.
  • Exceptionally well organized, detail-oriented, flexible, self-starter, who is confident, analytical, technical and resourceful.
  • Strong writing and oral communication skills.
  • Demonstrated interpersonal skills and ability to interact with diverse personality types.
  • Ability to work well under pressure with compressed project time frames.

 
 Supervisory Responsibilities:

  • None

 
Job Specifications:

  • Position type: This position is considered exempt under the Federal Labor Standards Act.
  • Expected work hours: 8:30 to 5:30, Monday through Friday with occasional weekends.
  • Travel: May be required to drive a personal vehicle for business (on occasion).
  • Work environment and physical demands: General office environment includes but not limited to periods of sitting at a computer, standing at a copier and carrying files.

 
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job.  Duties responsibilities and activities may change at any time with, or without, notice.

American Realty Advisors is committed to equal employment opportunity. We do not discriminate based on an individual's race, sex, religion, color, national origin, ancestry, physical or mental disability, medical condition, marital status, registered domestic partner status, veteran status, sexual orientation, age, gender identity, genetic characteristics, or any other basis prohibited by law. This policy governs all aspects of employment at American Realty Advisors, including hiring, assignments, training, promotion, compensation, employee benefits, employee discipline and discharge, and all other terms and conditions of employment.

ARA considers for employment qualified applicants with criminal histories in a manner consistent with the requirements of the Los Angeles Fair Chance Initiative for Hiring Ordinance No. 184652.

Apply for this Position

Equal Employment Opportunity

ARA is committed to equal employment opportunity and applies the principals of openness and diversity to all aspects of employment including hiring, assignments, training, promotions, compensation, employee benefits and issue resolution, employee discipline and discharge, and any other terms and conditions of employment. We do not discriminate on any basis protected by local, state, or federal law including, but not limited to, race, sex, gender, religion, color, national origin, ancestry, physical or mental disability, medical condition, marital status, registered domestic partner status, sexual orientation, gender identity, gender expression, age, genetic information, military and veteran status, citizenship status, or any other basis.

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