Real Estate Associate

New York Life Insurance • Dallas, TX

3d • $85,000 - $105,000 • Hybrid

About The Position

NYL Investors LLC, a premier asset manager with $331 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, and a regional field network with offices in 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. With over $73 billion under management, and more than 170 real estate investment professionals investing in 40 states and 150 markets across the U.S., our team seeks the best opportunities wherever they may arise.

The Asset Management Associate will be based in Dallas and will report directly to Jeff Perpich, Senior Director and Central 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.

Requirements

• The candidate should have 1-3 years of investment analysis experience, preferably with an institutional investment company, brokerage company, or related real estate firm.
• An undergraduate degree in real estate, urban planning, finance, or economics is preferred.
• A 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.

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 the asset managers with analytic support including lease analysis, hold/sell models, JV waterfall calculations, quarterly valuations etc.
• 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.
• Monthly reconciliation of actual asset level performance to plan/underwriting.
• 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.
• 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 primarily the Texas and other Southwest markets.

Benefits

• We provide a full package of benefits for employees – and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs.
• Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Number of Employees: 5,001-10,000 employees