Associate, Equity Investments & Asset Management

Berkshire Residential Investments • San Francisco, CA

1d

About The Position

Berkshire Residential Investments is a people-first real estate investment company that values the impact it makes and the time spent together in high-performing teams. The company values individual skills and perspectives to best serve its employees, investors, residents, and other stakeholders. The Associate, Equity Investments & Asset Management will assist and support senior-level acquisition and asset management team members in the Western Region. This role involves overseeing, sourcing, underwriting, due diligence, and closing core, core plus, and value-add multifamily property acquisitions, debt investments, and equity joint venture investments for development. The primary goals are researching, analyzing, and underwriting prospective investments to ensure outperformance against proforma and coordinating/processing due diligence in a timely and responsive manner. The Associate will also support a senior-level asset manager on the oversight, performance, and management of investments in a portfolio of multifamily assets located in multiple markets throughout the Western U.S. This position will work collaboratively in a team environment with third parties and all facets of the Company, including members of the Portfolio Management, Accounting, Property Management, Capital Markets, Financing, Valuation, Research, and Legal teams.

Requirements

• 3+ years real estate financial analysis experience, ideally in multifamily real estate investments, asset management, investment sales, or appraisal
• Experience in building complex cash flow models using Excel or Excel based tools
• Ability to present thoughts, questions, content, and conclusions to senior management
• Ability to produce excellent quality work that is thorough, accurate, complete, consistent, and able to get information when requested
• Excellent communication skills; written and verbal
• Works independently and with others; has complete ownership of work and projects
• Excellent problem solving and interpersonal skills
• Aptitude for organizing, prioritizing, and managing multiple priorities, using critical thinking and problem solving
• Understanding economic indicators as they relate to valuing multifamily real estate
• Ability to apply historical trends to current conditions to anticipate post-acquisition property performance
• Knowledge of key financial concepts and metrics as they relate to the multifamily real estate industry, including capitalization rates, internal rates of return, cash-on-cash returns, and others
• Ability to recognize value creation potential and to create analysis resulting in approval of deals by investment committee
• Knowledge of all multifamily product types
• Tenacity, patience, and perseverance to take deals from start to finish
• Demonstrated multi-modal communication style that reaches every stakeholder, specifically excellent verbal, and written communications
• Collaborative working style with inclusive work and thinking behaviors, commitment to excellence in teams and work product, with a strong work ethic
• Proficiency and willingness to adopt new systems and processes
• Demonstrate emotional intelligence in high pressure and sensitive situations
• Ability to see, analyze and understand business dealings in terms of the overall business plan
• Maintain confidentiality of sensitive information and communications of information
• Develop productive working relationships with all team members including internal clients and external third parties
• Demonstrated high level of ethics and integrity with a straightforward and honest approach
• Bachelor’s Degree, preferably with an emphasis in Economics or Finance, or equivalent professional experience/training
• Demonstrated ability to use and learn new technology (e.g., computers/hardware, mobile, software, cloud-based programs)
• Proficiency with computers, keyboards, monitors and telephone headsets.
• Proficiency in Microsoft Suite of Products (e.g., Word, Outlook, Excel, Teams, Power Point), and 3rd party data sources such as RCA, Real Page / Axio, RedIQ

Responsibilities

• Thoroughly and accurately underwrite potential multifamily investments
• Shop comparable properties to determine competitive amenities, rents and sales prices, maintain sales comp database
• Assist in conducting due diligence on properties targeted for acquisition
• Develop and apply quantitative models to deals under consideration
• Develop capital budgets reflecting cost of renovations, rehabilitations and upgrades to properties to drive economic value
• Analyze market dynamics and operating history of asset to determine reasonable and vetted underwriting assumptions
• Communicate with brokers, agents and principals to complete research and validate underwriting assumptions
• Compose written summaries and memorandums regarding potential acquisitions for Investment Committee and for external clients, if applicable
• Track and update pipeline status across geographic markets, and maintain critical timelines for transactions under review
• Consistently demonstrate use of tact and discretion
• Prepare the execution of Property Business Plans to optimize investment performance
• Participate in property-level decisions with the Portfolio Managers based on careful analysis and team input, including hold/sell, rent pricing, property budgets, and capital expenditures
• Develop, maintain, update and analyze comprehensive financial models, integrating both historical and current and proforma information; work closely with various levels of the organization to effectively identify and address business issues through models and presentations, and prepare for ad hoc and regular meetings
• Perform asset level valuation reviews including property performance and capital deployment effectiveness
• Prepare financial models and property reporting packages
• Visit markets and properties to validate business plan assumptions, monitor property operations, and identify opportunities and issues to improve operations
• Stay informed on market information and work closely with Berkshire’s Research team to stay abreast of their viewpoint and recommended course of action for each market they cover
• Provide direction and leadership to analyst(s)

Benefits

• Excellent benefits package, focusing on employees’ total health and wellness
• Programs and incentives that promote physical, mental, financial, and behavioral wellbeing both within and beyond our workplace

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level