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Asset Management Associate

Salary
Competitive
Employment
Full Time
Real Estate Field
Location
Cambridge
 MA
Postal Code
02155
Country
United States

This job is no longer active.

Description


Equity Resource Investments (ERI) is a Cambridge, MA-based real estate private equity firm focused on identifying diverse real estate investments that accord with its value philosophy. The firm is opportunistic and has the resources and flexibility to pursue multiple investment strategies (e.g., equity with full or partial ownership, platform-level equity and/or debt, preferred equity, debt) in various property types (e.g., multifamily, office, retail, industrial, self-storage, manufactured housing, hospitality, and senior housing). Founded in 1981, the firm has delivered strong returns to its investors throughout its history by developing and applying analytical insights to exploit structural, cyclical, and situational dislocations that create opportunity for pricing advantage.  Most of the investments made by the firm – including many joint ventures – come from leveraging relationships created over many years.  

 

JOB DESCRIPTION

ERI seeks an experienced Associate to join its Asset Management group. Though principally responsible for asset management, the individual in this position will interact closely with the acquisitions, business development, portfolio management, investor relations and accounting professionals of the firm to manage complex, sophisticated real estate investments. 

 

This individual will be responsible for investment performance modeling, investor reporting, investment valuations, financial statement analysis, lease analysis and special projects, and managing external sponsor / operating partner relationships on behalf of ERI.  The position will also require preparation of financial analyses and investment committee memoranda in connection with presentation of recommendations to ERI’s investment committee. 

 

RESPONSIBILITIES 

  • Collaborate with senior Asset Management personnel in all aspects of investment and portfolio management.
  • Independently maintain and develop relationships with external sponsors / operating partners to ensure effective investment and portfolio management. 
  • Prepare semi-annual investor portfolio reports, working directly with operating partners to secure comprehensive and timely investment updates and financial reporting.
  • Analyze and monitor the financial performance of investments, which entails maintaining financial models and information databases, reviewing annual budgets and raising awareness of performance concerns and liquidity opportunities to senior management.
  • Oversight of and execution on investment capital events, including refinancings, dispositions and recapitalizations.
  • Collaborate with internal and external counsel to review and negotiate transaction documents.
  • Develop strategies for resolution of investment performance and joint venture partner related issues.
  • Identify, analyze and implement opportunities for value enhancement, liquidity, and new investments within the portfolio.
  • Develop and maintain cash flow and distribution projections, which includes reviewing investment operating documents and waterfall calculations.
  • Maintain property valuation analyses using fair value reporting standards for use in quarterly reporting and year-end audited financial statements.
  • Support the firm’s investment committee process by drawing on relevant experience to provide asset class-specific insight and feedback on investment sponsorship. 
  • Audit investment partner-provided financial models and create appropriate internal investment models.
  • Prepare and present investment proposals for both new and existing investments as part of the firm's investment committee process.
  • Research and evaluate real estate market, economic and demographic data in support of the firm’s asset management process. 
  • Support the development and management of junior team members.
  • Prepare ad-hoc reports and assist with special projects as needed. 

 

SKILLS AND EXPERIENCE

  • Three to five years of experience in real estate investment management; prior real estate private equity experience strongly preferred.  
  • Ability to create complex real estate and partnership financial models, including discounted cash flows, preferred returns, waterfalls, etc.  Qualified candidates will be required to complete a case study with a modeling component.
  • Previous asset management or underwriting experience across multiple asset classes (multifamily, retail, office, industrial, hospitality, etc.) strongly preferred.
  • Bachelor’s degree in Finance, Economics or a related discipline.   Advanced degree or equivalent is a plus.
  • Expert proficiency in Excel required; some experience with Argus preferred but not required.
  • Excellent verbal and written communication skills necessary for presenting analyses, conclusions and recommendations to senior management, investors, and outside partners.
  • Ability to work under pressure and on multiple projects simultaneously, prioritize deadlines, and effectively manage workload.
  • Self-motivated, detail-oriented, and a quick study with strong organizational, analytical, and problem solving skills.
  • Candidates must posses a strong work ethic, impeccable integrity and intellectual honesty.

 

Qualified candidates should submit a resume, cover letter with salary expectations.


This job is no longer active.

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