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.
Summary
The 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.
A place for you
Here at Carmel, we don't just invest in buildings; we invest in careers. We encourage you to monitor our career page for upcoming opportunities. We're committed to assembling diverse teams with exceptional talent, and we strongly urge individuals from underrepresented groups to apply.
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 the 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.
- Participate in annual budgeting as well as preparation and presentation of Quarterly Asset Reviews, and Annual Asset Level Business Plans for Carmel Senior Leadership.
- 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 Benefits
Compensation 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.
Choose Carmel
At Carmel Partners, our mission is to create exceptional multifamily communities that enrich lives and neighborhoods.
DEI Statement
We 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.
Carmel Partners is an Equal Opportunity Employer, committed to providing employees with a work environment free of discrimination and harassment.
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