Associate, Real Estate Valuation

Realty Income Corporation • San Diego, CA

21h • $81,068 - $132,348

About The Position

Realty Income aims to be a globally recognized leader in the S&P 100, committed to creating long-term value for all stakeholders. These stakeholders include our dedicated team members, who embody our purpose: building enduring relationships and brighter financial futures. This guiding principle serves as a beacon for our team, influencing every action we take. Our employees consistently invest their time, commitment, and dedication into the company, and in turn, they receive investment returns in the form of purpose, belonging, and opportunities for advancement. We are committed to best-in-class corporate responsibility practices through environmental initiatives, governance programs, and community outreach projects. From the boardroom to the breakroom, our team members make a difference every day. Summary: Reporting to the Senior Director, Real Estate Valuation, the Associate’s main functions are to support the Strategy & Insight Department’s preparation of Purchase Price Allocation valuations, support the Portfolio Acquisitions department in research of weekly acquisition opportunities, and to perform any of the job functions below.

Requirements

• Bachelor's degree with an emphasis on real estate, finance, accounting, and/or other related field of study.
• At least 3 years of work experience required.
• Experience preparing and reviewing real estate valuation models or discounted cash flows.
• Understanding of real estate valuation methodologies and financial reporting standards as they relate to Accounting Standard Codification ASC 805.
• Experience reading and analyzing site surveys, property condition reports and leases.
• Attention to detail while analyzing and tracking large volumes of data.
• Strong Excel spreadsheet skills and experience with advanced formulas.
• Relational databases; data entry, creating queries & reports (Excel, Power BI).
• Mapping software skills (MapInfo/AnySite, Google Earth Pro, BatchGeo, Regus).
• Excellent written and oral communication, including the ability to make presentations.

Responsibilities

• Perform Real Estate Valuations for Accounting and Strategy & Insights
• Prepare Purchase Price Allocations in accordance with U.S. GAAP standard ASC 805 utilizing internal valuations model.
• Prepare real estate valuation models to assist the acquisition underwriting process and to support weekly Investment Committee meetings.
• Review Purchase Price Allocations prepared externally by third-party vendors.
• Effectively utilize the Marshall Valuation Services cost guide to determine replacement costs of building and site improvements.
• Use CoStar/Loopnet/other sources or contact brokers to find comparable rent and land information for acquisition opportunities.
• Communicate with internal and external auditors related to purchase price allocation conclusions.
• Maintain internal In Place Lease Database (centralized records for our historical valuation conclusions).
• Identify opportunities and lead execution of improvements to valuation processes and policies.
• Assist in Valuations Research as “Overflow Capacity”
• As applicable and in conjunction with Strategy & Insights Department, gather relevant information through industry reports, trade publications, Thomson One Equity Research, etc. to assist in updating any existing industry reports.
• Provide current value estimates, land values and market rent analysis for existing properties in the portfolio.
• Perform highest and best use analysis for Development and other departments.
• Assist Strategy & Insights department with Salesforce property data input and research.
• Effectively support the training and development of junior team members.

Benefits

• We offer a best-in-class benefits package that includes healthcare, dental, and vision insurance for employees and eligible dependents.
• Our 401(k)-retirement plan has a company match of 50% up to 6% of eligible compensation.
• Realty Income also offers other wellness, financial, and work/lifestyle-specific benefits, along with a generous PTO accrual; in addition to 12 paid holidays, and paid volunteer time.

What This Job Offers

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