Senior Analyst, Asset Management

Carmel Partners is a well-capitalized private real estate firm with expertise in investment and development of multi-family real estate. Our mission is to create high quality communities using innovative ideas and solutions to enhance the value of our investors, associates and residents.

The Senior Analyst, Asset Management position’s primary objective will be to support the department’s goal of maximizing operations and returns at the individual asset level and the overall fund/portfolio level. The Senior Analyst is a liaison between onsite property management and the Asset Management Team to ensure properties are performing in line with budget.

Location
New York, NY

Who you are

You understand the importance of building effective relationships, including stakeholders in and outside of the company. You keep a cool head while managing multiple projects under time and other constraints. You’re a pro at communicating on and off the page. Curiosity is a driving force behind your ability to solve problems, and you always maintain a positive attitude. 

What you’ll do

• Work closely with the Vice Presidents and Directors of Asset Management you support to maximize operations of a regional, multifamily portfolio of properties comprised of newly built communities, assets being repositioned, and stabilized projects
  • Ongoing analysis of existing property financials, leasing trends, expiration schedules, submarket fundamentals, and portfolio trends
  • For stabilized assets, leads detailed review of monthly financial results with onsite property management and asset management teams. Submit questions prior to calls and track status/completion of action items identified during the meeting to ensure completion
  • Pricing, Expiration, Absorption Trends: Assist VPs and Directors in preparing for and contributing to bi-weekly revenue management/pricing calls through analysis of historical and current pricing, lease expiration reports, and occupancy trends; make recommendations to VPs and Directors
  • Review annual trends in rates and usage for property-level utilities
  • Support VPs/Directors throughout the annual budgeting process for assigned properties
  • Annual Asset Level Business Plans: Work with Asset Management VPs/Directors to establish and present the annual strategy and goals for each assigned property to Carmel Senior Leadership
  • Participate in the preparation and presentation of Quarterly Asset Reviews to Carmel Senior Leadership, including detailed analysis of actual property performance compared to goals, budget, and historical performance.
  • Retail: Analyze potential retail tenants, including review of LOI/Lease drafts, tenant business plans, and tenant/guarantor credit and financials. Support VPs/Directors throughout lease negotiation. Prepare retail tenant pitches for senior leadership as needed.
  • Assist in transitioning properties from development to operations by assisting in the preparation of lease-up playbook, business plans, and related pricing tools/models
  • Work with property management company and investments team during the disposition process to maximize ultimate sales price of assets for sale
• Conduct market research and analysis to obtain strong local market knowledge of competitor product offerings, positioning, location, and market supply and demand trends. Shop competitive properties in the region at least annually
• Assist VPs/Directors with underwriting new potential acquisition and development deals
  • Populate and enhance existing tools to assist in underwriting pro forma rents and expenses
  • Schedule and participate in physical due diligence including unit and site walks
  • Compile and review data on the market and a competitive set of properties
  • Collaborate with Investments Team in the preparation of business plans for renovation deals
• Support retail leasing efforts and work with the Investment and Development teams to underwrite new acquisitions and developments
• Lead and participate in Asset Management and company-wide initiatives to enhance tools, processes, and deliverables
• Other duties, responsibilities, and special projects as assigned

What you’ll bring

• Bachelor’s degree in Real Estate, Finance, or related field; MBA a plus
• 3+ years’ professional experience in commercial real estate, financial analysis, or asset management (multifamily preferred).
• Proficiency in MS office products including Excel, PowerPoint, and Word; proficiency in property management systems a plus (Yardi, LRO, etc.)
• Exceptional financial and numerical analytical skills
• Strong financial modeling skills with a high degree of accuracy and attention to detail

Carmel Partners, Inc. is an equal opportunity employer and affords equal opportunity to all applicants for all positions without regard to race, color, religion, gender (including pregnancy), national origin, age, disability, veteran status, sexual orientation, or any other status protected under local, state, or federal laws.