Asset Management Associate

SUMMARY:

DLC Management Corp., a leading privately held owner and redeveloper of open air shopping centers nationwide is currently seeking an Associate to join our Corporate office in Elmsford, NY. The ideal candidate will be energetic and motivated to learn, with a strong analytical background and excellent communication skills. The Asset Management Associate will be involved in all facets of the asset, investment and joint venture of each asset within DLC's growing retail CRE portfolio. The position will serve as support to the Vice President of Asset Management but will collaborate with the acquisitions, construction management, property management, leasing, legal, and accounting departments. The role will be vital to supporting and building out the function of asset management.

 

RESPONSIBILITIES:

- Develop a strong understanding of the assets and business plans for the joint venture portfolio. Become knowledgeable of leases, loan documents, partnership agreements, and other agreements to assist with general responsibilities which will vary across asset/portfolio, loan or joint venture.  Effective communicator across all levels of the organization, both internally and externally.    

-Participate in monthly JV Partner calls and ad hoc calls/updates with Lenders to address questions and or work through issues.  Help produce / review and update monthly management asset updates. 

- Create, implement, and maintain various tracking criteria related to property operations and performance across all vertical departments.

- Develop & maintain sophisticated dashboards, financial models, templates and analyses to monitor asset relative to each business plan.  

- Assist in performing wide range of analyses including: refinancing analyses, valuations, sell/hold analyses, leasing NPV/NER, and other ad hoc analyses to assist the AM department or other key constituents (Senior Management, Other Departments, Partner, Lender) requiring business plan/performance.

-Respond to Lender, JV Partner or Senior Management requests relating to asset performance or statuses.  Review Lender covenant calculations for accuracy and input.  Work with AM team and through other departments to ensure most accurate information represented.  

- Review monthly financial reports, perform variance analysis, identify & report trends, red flags, etc.

- Organize, oversee and review the annual property operating budgets and business plans for joint venture portfolio.  Integral team member in rolling up asset and portfolio budget metrics & helping steer the metrics and business plan. Work with and through various vertical departments through budget approval internally and lead JV partner approval process for assigned assets.    

- Prepare and update quarterly cash flow forecasts with new/updated property and portfolio level information.  Propose quarterly distributions for Senior Management and Joint Venture approval.  Evaluate and process any necessary capital calls.

 - As needed, maintain/ update Argus models to monitor asset performance throughout the asset redevelopment cycle in support of critical capital market events or budget update.

-Proactively engaged to help improve current processes and systems across the company. 

-Active in the mentoring and training of Senior Analyst and AM Coordinator on the team & strong collaborator with other AM team members and colleagues across the company.   

DESIRED SKILLS & EXPERTISE:

- College degree in business or finance with related real estate experience.

- 3-5 years of experience with an understanding of retail asset types

- Strong skills in financial analysis and modeling - experience with Argus strongly preferred.

- Advanced Excel skills 

- Ability to collaborate with all departments to accomplish the team's objectives in a growing portfolio. The candidate must be hands-on and able to roll up his/her sleeves and pitch in on whatever needs to be done.

- Proactive, energetic, creative disposition, capable of solving problems with resourcefulness. The individual must have well developed interpersonal and communications skills. A high sense of urgency is a key attribute to