Real Estate Asset Management Associate

New York Life Insurance•Atlanta, GA

3d•Hybrid

About The Position

New York Life Real Estate Investors (REI) is a full-service, integrated real estate enterprise with over 170 professionals focused on originating, underwriting, and investing in real estate-related debt and equity products. With offices in New York City, Atlanta, Chicago, Dallas, and San Francisco, REI offers a local market presence and national reach. The Asset Management Associate, based in Atlanta, will report to a Senior Director and East Region Head of Asset Management. This role primarily supports asset managers with analytical, operational, and strategic aspects of their business, including quarterly valuations, lease analysis, hold/sell recommendations, property-level budgets, business plans, vendor management, capital expenditures, and due diligence for dispositions and acquisitions.

Requirements

1-3 years of investment analysis experience, preferably with an institutional investment company, brokerage company, or related real estate firm.
Undergraduate degree in real estate, urban planning, finance, or economics is preferred.
Fundamental understanding of the commercial real estate market.
Experience working on varied transactions including interaction with principals, developers, and brokers.
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 work independently and collaboratively, and to generate high-quality output.
Bias for learning, acting with agility and having a customer focus.
Must meet deadlines and work with multiple asset managers.
Limited travel requirements to primarily in the Southeast region of the United States.

Nice To Haves

Prior experience with joint venture transactions, including financial waterfall analysis, is a plus.
Familiarity with multiple real estate markets and experience with performance calculation a plus.

Responsibilities

Support asset managers with analytic support including lease analysis, hold/sell models, JV waterfall calculations, and quarterly valuations.
Perform due diligence, including gathering and maintaining market statistics and coordinating external consultants and appraisers.
Support the timely completion and/or review of accurate quarterly and annual property valuation analysis.
Participate in property-level conference calls with asset managers, third-party property managers, and leasing agents.
Review monthly financial and operational reports from property managers and/or JV partners.
Reconcile monthly actual asset-level performance to plan/underwriting.
Process monthly capital funding requests and perform quarterly capital reconciliation with accounting and portfolio management.
Assist in the preparation and completion of lease summaries and required approval processes.
Prepare investment committee memorandums.
Prepare and review property-level financial investment valuation and performance models using Argus Enterprise and Excel.
Maintain current real estate market data for existing asset markets and areas under investment consideration.
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.