Analyst, Asset Management

American Realty Advisors•Los Angeles, CA

38d•Onsite

About The Position

Avison Young provides analytical services and support for American Realty Advisors (ARA). The Analyst, Asset Management will support a portfolio of our client's commercial real estate assets and assist ARA's Asset Management Group in executing its operating strategy for a national real estate investment portfolio. This role is based in ARA’s downtown Chicago office, and the candidate is expected to reside in the Chicago area and commute to the office. Currently, the role requires at least 4 days per week in person, which may increase to 5 days per week based on business needs. This position is highly collaborative and requires a high degree of proactive communication and interaction with all members of the ARA team, including senior leadership.

Requirements

Bachelor's degree in Finance, Real Estate, or a related field required; 0-2 years of relevant experience (commercial real estate, finance, or related analytical roles) preferred.
Demonstrated interest in commercial real estate, analysis, or asset management through a combination of internships and coursework.
Strong finance and mathematical skills, including the ability to calculate and understand discounted cash flows, net present value, and internal rate of return; capable of generating and interpreting statistical data and performing financial analysis.
Ability to solve practical problems and work with various concrete variables in situations with limited standardization; ability to interpret various instructions furnished in written, oral, or schedule form.
Proficiency with word processing and spreadsheet software; strong Microsoft Excel skills, including the ability to build and audit formulas.
General understanding of accounting and financial reporting.
Strong organizational skills and the ability to follow and improve processes.

Nice To Haves

Familiarity with creating ARGUS Enterprise models and reviewing/adjusting Altus models is a plus.

Responsibilities

Build proficiency in Argus Enterprise, budget analysis, and financial reporting.
Learn and apply the firm's property management and asset management policies, procedures, and guidelines.
Develop a working knowledge of joint venture agreements, loan documents, lease agreements, property management agreements, development agreements, service contracts, and title documents.
Maintain awareness of economic, market, and real estate industry trends relevant to assigned assets.
Assist Asset Managers with leasing and property operations, including:
Reviewing and evaluating monthly reporting packages and cash flow distributions/contributions, identifying variances and discrepancies, and ensuring accuracy.
Preparing detailed financial analyses of operating performance, leasing trends, submarket analytics, and competitive properties.
Assisting in preparing and drafting investment committee recommendation memos for asset repositioning, major leasing, hold/sell analyses, dispositions, acquisitions, development, large capital projects, and key legal documents.
Extracting metrics from data sources, including CoStar, MRI, and Argus Enterprise, to support strategic business plans and property operating budgets.
Maintaining strong relationships and efficient information flow between asset managers, third-party property managers, leasing teams, joint venture partners, portfolio managers, and leadership.
Conducting periodic physical inspections of assets, touring competitive properties, and developing market and submarket knowledge and relationships.
Reviewing common area maintenance reconciliations generated by third-party property managers against tenant leases and property operating expenses; partnering with accounting to ensure billed amounts tie to the general ledger; submitting reconciliation approval worksheets to asset manager approval.
Assisting with documentation process and developing familiarity with ARA’s legal forms.
Creating Economic Lease Analysis for new lease proposals using ARA's internal analysis model.
Participating and providing input in negotiations from the letter-of-intent stage through lease execution.
Participating in operational calls with property managers to discuss asset strategy, vendor engagement, asset performance, capital projects, leasing trends, marketing strategy, and other business matters.
Supporting quarterly accounting reviews of each asset, including analysis of business plan and budget performance, and completing annual budgets and quarterly investment status updates.
Reviewing and certifying rent roll accuracy to ensure accurate reporting.
Conduct thorough market research to:
Validate asset acquisition or new development underwriting.
Support the proposed market positioning and strategy.
Compile comparable sales data and future development pipeline information.
Assist the Investment Group with underwriting, committee recommendation drafting, due diligence, and asset management transition processes for acquisitions and new developments.
Review quarterly asset valuations and follow-up on discrepancies or inconsistencies, interface with appraisers and asset managers to finalize value.
Support disposition activities by preparing assets for sale, drafting committee recommendations, interfacing with the disposition team, and supporting due diligence and closing processes.
Support Asset Managers with oversight of development and construction, including:
Conducting detailed reviews of construction draw packages and related monthly development and financial reports.
Performing periodic site inspections with asset managers and the construction services team.
Participating in owner, leasing, property manager, and partner status calls.
Preparing development status reports and presentations for leadership.
Developing a general understanding of the construction process, terminology, and AIA documents.
Preparing wire transfer requests for internal approval.
Support Portfolio Management to by tracking and reporting critical issues and handling ad-hoc requests from the Portfolio Management team.
Support quarterly and annual valuation processes for assigned assets, including:
Reviewing quarterly asset valuations and following up on discrepancies or inconsistencies; interfacing with appraisers and asset managers to finalize value.
Verifying the accuracy of the rent roll, tenant recoveries, market lease assumptions, valuation metrics, operating expenses, and capital expenditures.
Support other Analysts and Associates in executing the periodic requests that further department or firmwide initiatives, based on the needs of ARA.
Other duties as assigned.