Senior Associate, Real Estate Asset Management

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Date: Jan 29, 2019

Location: Atlanta, GA, US

Company: New York Life Insurance Co

 

A career at New York Life offers many opportunities. To be part of a growing and successful business. To reach your full potential, whatever your specialty. Above all, to make a difference in the world by helping people achieve financial security. It’s a career journey you can be proud of, and you’ll find plenty of support along the way. Our development programs range from skill-building to management training, and we value our diverse and inclusive workplace where all voices can be heard. Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and service, supported by our Foundation. It all adds up to a rewarding career at a company where doing right by our customers is part of who we are, as a mutual company without outside shareholders. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

 

The Company

 

NYL Investors, a premier asset manager with $236 billion in assets under management, is a wholly owned subsidiary of New York Life Insurance Company, the largest mutual insurance company in the world.  Real Estate Investors group is a full service, fully integrated real estate enterprise with more than 135 professionals where the principal focus is the origination, underwriting, and investment in real estate related debt and equity products including commercial mortgage loans, real estate equity investments, commercial mortgage backed securities and unsecured REIT bonds. Through its home office located in New York City, an equity group headquartered in San Francisco, and a regional field network with offices in New York, Atlanta, Chicago, Dallas, and San Francisco, the Real Estate Group provides a local market presence and a national reach.

 

Real Estate Investors brings an unparalleled level of knowledge, strength, and accountability to the financing process and has become a trusted provider of real estate capital and investment management services, with a long and successful track record of helping clients achieve their financial goals and objectives. Real Estate Investors is staffed by experienced real estate professionals whose commitment to customer satisfaction is matched by their market acumen, integrity, and flexibility. The group's vertically integrated, multi-disciplinary team allows the delivery of the consistent service our borrowers and investors have come to expect.

 

Real Estate Investors manages over $51.9 billion in client assets as of June 30, 2018, including commercial mortgages, CMBS, direct equity, and other real estate related products on behalf of both third party institutional investors and New York Life.

 

The Position

 

The Asset Management Senior Associate will be based in Atlanta and will report directly to the Senior Director and East Region Head of Asset Management, who is located in New York City. This person will primarily support the senior asset manager located in Atlanta on all analytic and strategic aspects of their business.  This will include: quarterly valuations, lease analysis and negotiations, hold /sell recommendations, property level budgets and business plans, work with third party vendors, capital and underwriting new acquisitions etc.  Ultimately, based on experience and growth, this position will focus on the management of his or her individual portfolio of core/core plus, value-add assets and ground-up developments, which may be owned outright or through joint venture partnerships.

 

Responsibilities:

 

This person’s key responsibilities will be as follows:

 

  • This person will support the asset manager with support including: lease analysis, hold/sell models, JV waterfall calculations, quarterly valuations etc.  Analytical support included performing financial analysis as required to evaluate potential new leases and/or lese restructuring, capital investments, introduction of new services and amenities, etc.

 

  • Support the performance of due diligence, including gathering and maintaining market statistics and coordinating the work of external consultants and appraisers.
     
  • Support the asset manager on the timely completion and/or review of accurate property valuation analysis and underwriting of all types of property acquisitions, loans and joint venture development value add transaction opportunities.

 

  • Assist in preparation and presentation of annual property budgets and business plans.  Participate in property level conference calls with asset manager, third party property managers and leasing agents.

 

  • Assist in preparation and completion of Lease summary and required approval process (VTS).
     
  • This person will also help prepare investment committee memorandums.

 

  • Prepare and review property level financial investment valuation and performance models using Argus Enterprise and Excel based on information provided from various sources including acquisition officers, asset managers, outside brokers, appraisers and other service providers.  Review financial performance reporting from the properties and synthesize for the asset manager’s use.
     
  • Maintain current real estate market data for areas under investment consideration, in addition to existing asset markets.
     
  • Develop external sources of data (brokers, appraisers, etc.) in target markets.
     
  • Work with property technology services (Business Intelligence) to track and manage leasing, capital projects and other initiatives, such as VTS and Honest Buildings
     
  • Attend networking, industry and market functions.
     
  • Train others in the use of Excel and Argus valuation software as necessary.

 

  • Limited travel requirements to Southeast regional markets.


 

Candidate Experience and Qualifications

 

Experience:

The candidate should have a minimum of 4-5 years of investment analysis experience, preferably with an institutional investment company, brokerage company or related real estate firm.

 

Candidates for this position should have the following career qualifications:

 

  • A fundamental understanding of the commercial real estate market and financing.
  • Experience working on varied transactions including interaction with principals, developers and brokers. Prior experience with joint venture transactions, including financial waterfall analysis, is a plus.
  • Strong hands-on knowledge and abilities in Excel and Argus.
  • Strong analytical skills, aptitude and experience.
  • Excellent written and verbal communication skills.
  • Attention to detail.
  • Ability to prioritize multiple assignments and multi-task effectively.
  • Familiarity with multiple real estate markets and experience with asset performance calculation a plus.
     

Education: Undergraduate degree is required.  An MBA with a Real Estate focus would be a plus.

EOE M/F/D/V

 

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