Real Estate Asset Management - Senior Associate

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Date: Nov 19, 2021

Location: San Francisco, CA, US

Company: New York Life Insurance Co

 

 

When you join New York Life Investments, a wholly owned subsidiary of New York Life Insurance Company, you are joining a global investment company with a long history and passion for career development, innovation, collaboration, and diversity, equity and inclusion. We want employees to feel proud about being part of a company that is committed to doing the right thing. Through various resources and programs, you can grow your career while developing personally and professionally.

 

As a top 25 global asset management firm with more than $600 billion in assets under management, we have an important mission: to help build a better financial future for our clients, our employees, and our communities. We invite you to bring your talents to New York Life Investments, so we can continue to help people achieve their financial aspirations. To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

 

 

The Company

 

NYL Investors LLC, a premier asset manager with $250 billion in assets under management, is a wholly owned subsidiary of New York Life Insurance Company, the largest mutual insurance company in the world.  New York Life Real Estate Investors (“REI”) is a full service, fully integrated real estate enterprise with more than 170 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, REI provides a local market presence and a national reach.

 

REI 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. REI 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.

 

REI manages over $62 billion in client assets as of June 30, 2021, 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 San Francisco and will report directly to Thomas Hwang, Senior Director and West Region Head of Asset Management. This person will primarily support the asset managers on all analytic, operational, and strategic aspects of their business.  This will include quarterly valuations, lease analysis, hold /sell recommendations, property level budgets and business plans, work with third party vendors, capital expenditures, dispositions and new acquisitions due diligence assistance, etc.

 

Responsibilities:

 

  • This person will support the asset managers with analytic support including lease analysis, hold/sell models, JV waterfall calculations, quarterly valuations etc.  They will support the performance of due diligence, including gathering and maintaining market statistics and coordinating the work of external consultants and appraisers.
  • Support the asset managers on the timely completion and/or review of accurate quarterly and annual property valuation analysis.

 

  • Participate in property level conference calls with asset manager, third party property managers and leasing agents.
  • Review monthly financial and operational reports from property managers and/or JV partners.

 

  • Process monthly capital funding requests and perform quarterly capital reconciliation with accounting and portfolio management.

 

  • Assist in preparation and completion of Lease summary and required approval process.
  • 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.
  • Maintain current real estate market data for areas under investment consideration, in addition to existing asset markets.
  • Manage external sources of data (brokers, appraisers, etc.) in target markets.
  • Assist asset managers with various valuation projects including quarterly and annual internal property valuations, hold/sell analysis, and lease analyses.
  • Attend networking, industry and market functions.
  • Train others in the use of Excel and Argus valuation software as necessary.

 

  • Limited travel requirements to West Coast markets.

 

 

Candidate Experience and Qualifications

 

  • A fundamental understanding of the commercial real estate market.
  • 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/Argus Enterprise.
  • Strong analytical skills, aptitude, and experience.
  • Excellent written and verbal communication skills.
  • Attention to detail is a must
  • Ability to prioritize multiple assignments and multi-task effectively.
  • Must meet deadlines and work with multiple asset managers.
  • Familiarity with multiple real estate markets and experience with performance calculation
  • An undergraduate degree in real estate, urban planning, finance or economics is preferred. 

Job Requisition ID: 85224

 

 

 

 

 

 

 


Nearest Major Market: San Francisco
Nearest Secondary Market: Oakland

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