The Analyst works with ARA’s Asset Management Group in executing its operating strategy on a national real estate investment portfolio. The position is tasked with helping drive investment strategy based on the firm’s models and its approach to value creation through oversight of property operations and capital deployment.
Primary accountabilities include business plan preparation, presentation, and execution, developing monthly cash flow and investment return projections, internal and external reporting, market research, capital plan oversight, and involvement with new acquisitions. This individual will regularly engage with members of senior management, the acquisitions group, ARA’s third-party property management teams, and other external partners.
This role is based in ARA’s downtown Los Angeles office, and candidates will be expected to be Southern California residents and commute to the office.
Major Duties and Responsibilities:
Assist asset managers with:
- Extracting metrics from various data sources, including CoStar, MRI, and Argus Enterprise, to support developing and executing strategic business plans and property operating budgets.
- Reviewing monthly reporting packages and cash follow distributions/contributions, evaluating variances, and resolving any discrepancies.
- Preparing detailed financial analyses of operating performance, leasing trends, submarket analytics, and competitive property analysis.
- Conducting periodic physical inspections of assets, touring competitive properties, developing relationships, and commanding a general understanding of market and submarket dynamics.
- Reviewing Common Area Maintenance reconciliations generated by third-party property managers against tenant leases and property operating expenses.
- Participating in negotiations from Letter of Intent through lease execution, including economic lease analysis and credit review.
- Maintaining reputation, relationships, and efficient information flow between asset managers, third-party property managers, joint venture partners, portfolio managers, and executives.
- Develop a basic understanding of budget analysis, financial reporting and the tools and software utilized to execute such analysis and reporting.
- Learn ARA’s property management and asset management policies, procedures, and guidelines; develop a broad knowledge of joint venture agreements, loan documents, lease agreements, property management agreements, development agreements, service contracts, and title documents.
- Develop a foundational understanding of the underlying economic, market, and industry trends that drive asset performance.
- Assist with drafting Investment Committee recommendation memos for asset repositioning and development, hold/sell analyses, dispositions, large capital projects, and key legal documents.
- Assist with Property Management Agreement and Leasing Services Agreement amendment, restatement, or extension processes.
- Support asset managers with oversight of the development or construction process, including conducting market research to validate new underwriting and future development pipelines.
- Assist the Investment Group in the overall underwriting, committee recommendation drafting, due diligence, and asset management transition processes, as needed for acquisitions.
- Assist Dispositions by preparing the asset for sale and supporting the due diligence and closing processes.
- Participate in other ad hoc activities that may be assigned from time to time.
The above listing represents the general duties considered essential functions of the job and is not to be considered a detailed description of all the work requirements that may be inherent in the position.
- Bachelor’s degree in Finance, Real Estate, or related field required.
- Students are required to have completed a Bachelor’s degree by June 2022.
- Demonstrated interest in commercial real estate, investment analysis, or asset management through a combination of internships and coursework.
- Strong financial and mathematical skills, including, but not limited to, the ability to calculate and understand discounted cash flows, net present value, and internal rate of return. A thorough understanding of accounting principles, including comprehending standard accounting reports and statements, is required.
- Familiarity with various software for word processing and spreadsheet preparation. Demonstrated proficiency and precision in Microsoft Excel with the ability to build and utilize complex formulas.