Park Madison Property Management Co. (“PMPM”) – an affiliate and the captive property manager of The Georgetown Company – is looking for an Asset Management Associate with a passion for real estate investment and operations, and the ability to work in an entrepreneurial environment. The position reports directly to the senior partners of the firm and involves analytical and asset management support on a portfolio of 8-10 investments. The Asset Management Associate should have a strong financial and analytical background, with experience in the preparation of financial models for existing assets and portfolios, analysis of portfolio performance, various leasing, financing, budgeting and hold/sell decisions.
Responsibilities will include:
- Lead the execution of long- and short-term asset-level portfolio goals, across a diverse set of assets, investment types, and geographic locations.
- Produce asset-level operating budgets and maintain extensive financial models in Excel and Argus to evaluate leasing and financing decisions.
- Collaborate with accounting to prepare invoices, rent statements, financial statements and ad hoc reporting tasks as requested by senior partners, investors, lenders and joint-venture partners.
- Coordinate with leasing brokers to source, analyze and execute lease transactions, including preparation of lease agreements, reviewand execution of tenant estoppels, and evaluate tenant credit.
- Engage and oversee contractors and vendors concerning service contracts, work schedules, billing and insurance. Coordinate with engineering staff and maintenance staff to ensure successful operation of office and retail properties.
- Manage relationships with tenants, lenders, brokers, property appraisers, legal counsel, real estate tax consultants, contractors, vendors and a variety of third-party consultants.
- Recommend value-creation strategies across the portfolio including leasing transactions, renovation and repositioning projects, densification and operating cost-saving measures.
- Assist in turnover and commissioning for development projects to ensure successful transition from construction to operations.
- Assist in due diligence of potential acquisitions including expense analysis, lease review and underwriting assumptions and modeling review.
- Assist in property dispositions, including analysis of potential sales price, interaction with sales brokers and preparation of internal investment committee brief.
- Conduct occasional property visits on as-needed basis (<10%) for a portfolio of assets in the Southeast and/or Midwest.
Qualifications: Ideal candidates will have the following background and skill set:
- 2 to 4 years of experience in real estate investment with exposure to asset management
- Financial modeling and valuation skills (ideally with a real estate focus)
- Proficiency in full suite of Microsoft Office products, and comfort creating presentation documents in either Word or PowerPoint
- Exceptional attention to detail and ability to learn quickly
- Excellent written and verbal skills
- Ability to interact with clients and senior partners in a responsible and effective manner
Salary range: $85,000-$100,000
Park Madison Property Management Co. is an Equal Opportunity Employer and provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability, or genetics.
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