Asset Management Intern

The Larry H. Miller Company All Groups • Sandy, UT

1d • Onsite

About The Position

Larry H. Miller Real Estate (LHMRE) is hiring an Asset Management Intern to work directly with the Vice President of Asset Management on the active management of our commercial, multifamily, and industrial portfolio. This is not a support role. The intern will own workstreams, sit in owner, architect, and contractor meetings, walk newly delivered units, hold property management teams to their business plans, and build reporting that goes to internal leadership and investors. The work is the same work our asset management team does every day, and the intern will be accountable for it. The intern’s work will make a real contribution to Larry H. Miller Real Estate while giving the intern hands-on experience across the full scope of asset management, with the intent of preparing them for a successful career in the industry after graduation. Ideal candidates are sharp, self-directed, and curious about how real estate assets actually make money. You should be comfortable in Excel, have a working understanding of financial analysis and real estate fundamentals, and be able to explain your reasoning clearly in writing and out loud. We care more about how you work through a problem than whether you already know the answer, and we expect you to dig into something and form a point of view before bringing it to your direct manager. The internship will be held at the Larry H. Miller Real Estate Sandy, Utah location.

Requirements

• Must be currently enrolled in an accredited University/College in Accounting, Finance, or MBA program
• Must be able to commute to and from Sandy, Utah office and work in-person
• Strong financial analysis skills and advanced proficiency in Excel and the Microsoft Office Suite
• Comfortable interacting directly with property managers, contractors, brokers, and investors
• Ability to work independently and collaboratively in a fast-paced environment
• Willingness to flex hours occasionally around project schedules, site work, and reporting deadlines
• Primarily an in-office setting; required to sit, stand, bend, reach, and move about office setting
• Regular visits to active construction and operating properties, including walking units and traversing uneven or unfinished ground
• Must have the ability to read and comprehend large quantities of information, operate computer equipment, speak, hear, bend, stoop, reach, lift, move, and carry up to 25 lbs. independently

Nice To Haves

• Experience building or auditing a pro forma is a plus
• Exposure to Argus Enterprise, Yardi, or comparable real estate software is a plus but not required
• Strong organizational skills with the ability to own and prioritize several projects at once
• Excellent written and verbal communication, including the ability to present a recommendation and defend the reasoning behind it
• Self-starter who investigates a problem and develops a point of view before escalating it

Responsibilities

• Support investment management of existing multifamily and industrial assets, including tracking actual performance against original underwriting and flagging where the asset is off plan
• Build and maintain financial models and pro formas; run sensitivity analysis on the assumptions that drive value
• Underwrite prospective projects and refresh underwriting on existing asset business plans
• Research markets and submarkets for rents, comparables, absorption, and competitive supply, and turn that research into a written strategic recommendation
• Manage tenant improvement (TI) projects from scope through closeout, tracking budget, schedule, and change orders
• Attend owner, architect, and contractor (OAC) meetings, capture and track action items, and follow through with the project team between meetings
• Perform punch walks on newly delivered units and drive punch lists to completion
• Track capital project spend against budget and surface variances early
• Interface with and provide oversight of property management teams, holding them accountable to the approved business plan
• Review operating performance, leasing activity, and expense variances, and follow up on what does not tie
• Participate in property site visits and inspections across the portfolio
• Create recurring and ad hoc reporting for internal leadership and external investors
• Assemble investor reporting packages, including performance summaries, variance commentary, and project status updates
• Prepare materials and present recommendations to the asset management team and senior leadership
• Other duties as assigned

Benefits

• This internship is ineligible to receive the employee benefits to which regular company employees are entitled.

What This Job Offers

• Job Type: Part-time
• Career Level: Intern
• Education Level: Associate degree