RELATED
Analyst/Associate, Asset Management - Related Midwest
RELATED, Chicago, Illinois, United States, 60290
Responsibilities
The Analyst/Associate role will perform financial analysis on Related Midwest’s existing portfolio, identifying specific recommendations for revenue improvement, expense reductions, and overall operational efficiencies. The position will assist in the incorporating this analysis into Related Midwest’s pipeline projects, including 400 Lake Shore Drive, 725 Randolph, and The 78. Responsibilities will include working with building specific teams to prepare monthly forecasted vs actual reports, creating annual budgets and multi-year cash flows, and advising on refinancings and strategic initiatives for various Related Midwest projects, including One Bennett Park, The Row, 500 Lake Shore Drive, Roosevelt Square, and Lathrop. The role involves significant interactions with senior level executives at Related and Related Management, our in-house management company, and is an integral part to existing and future projects at the company.ResponsibilitiesMaintain a highly accurate and detailed financial model for each property that can be used to support the property’s required financial reporting functionsParticipate in refinancing efforts and capital stack structuringAssist in compiling property-wide business plans and strategic plans, consolidated annual budgets, monthly forecasts, and performance reporting (develop templates, assumptions, analyses and reports of key performance indicators)Market research and analyses: benchmark economic activity in target markets by tracking rents, sales per square foot, operating costs, competitive supply and economic expansion activityAssist with and oversight of financial and retail lease-related analysis projects; specifically Excel cash flow modeling and gathering updated retail leasing and expense information from various partiesConduct scenario analyses based on different leasing, operational, and financing strategiesEstablish and maintain a Project Tracker to track key decisions and action items to maintain compliance with all venture and partnership agreements, loan documents, leases, operator agreements, management agreements, property entitlements, ground leases and other property documentsProperty and lease-accounting related tasks. Should have familiarity with commercial leasing and lease provisionsCommunicate regularly with operating partners for the parking, retail and residential components and provide analysis of their consolidated annual budgets, monthly forecasts, and performance reporting in the context of the overall propertyAssist with and coordinate monthly reports to be submitted to lender, keeping a close eye on all property expenses; as well as analyzing monthly rental incomePresent monthly results to senior executives; requires familiarity with and understanding of all aspects of the property’s financialsCreate budget variance analyses with detailed explanations of variancesConduct rent analysis on a unit by unit basis and produce reports detailing trends, graphs, etc. that indicate specific unit, neighborhood, and building performanceMake recommendations on leasing strategy including initial lease-up plans for new properties and renewal strategy on stabilized propertiesAssist accounting teams with accrual based operating statements submitted to lenderAssist with the preparation of investment sales, equity and debt offering memorandums for the sale or recapitalization of the property
Qualifications
Undergraduate degree required; Advanced Degree a plus3+ years of work experience in Real Estate, Finance, and/or AccountingStrong understanding of sophisticated Excel models, as well as complex real estate cash flow models (experience with ARGUS a plus)Must have advanced Excel Modeling skills – will be testedExperience creating effective presentationsExperience with analyzing commercial leases, cash flow and net operating incomeExcellent analytical skills, with a larger focus on financial reporting and ability to convert raw data into financial analysesPossess strong attention to detail and ability to work under tight deadlines in a fast-paced environmentExperience with accounting systems and information tools such as JD Edwards, Hubble, Hyperion and database applications, a plusRelated Companies is an equal opportunity employer.For information about how we use your personal information, including information submitted for career opportunities, please review our Privacy Policy at
https://www.related.com/privacy-policy .Related will consider for employment qualified applicants with criminal histories in a manner consistent with applicable federal, state, and local laws.#TRC #LI-JF1
Overview
Formed in 1972, Related is the most prominent privately-owned real estate firm in the United States. Headquartered in New York City, the company has offices and major developments across the world. Related owns and manages a premier portfolio of assets valued at over $60 billion, including the 28-acre Hudson Yards neighborhood on Manhattan’s West Side.Related believes in investing in its talent and cultivates a positive, team-oriented environment where every voice is valued. Employees are encouraged to boldly take on new challenges, transcend the status quo, and demonstrate strong entrepreneurial spirit. In its relentless commitment to excellence, Related works to foster an innovative approach in its team members so that they can positively impact the communities in which they conduct business. Learn more about Related at
www.related.com .
#J-18808-Ljbffr
The Analyst/Associate role will perform financial analysis on Related Midwest’s existing portfolio, identifying specific recommendations for revenue improvement, expense reductions, and overall operational efficiencies. The position will assist in the incorporating this analysis into Related Midwest’s pipeline projects, including 400 Lake Shore Drive, 725 Randolph, and The 78. Responsibilities will include working with building specific teams to prepare monthly forecasted vs actual reports, creating annual budgets and multi-year cash flows, and advising on refinancings and strategic initiatives for various Related Midwest projects, including One Bennett Park, The Row, 500 Lake Shore Drive, Roosevelt Square, and Lathrop. The role involves significant interactions with senior level executives at Related and Related Management, our in-house management company, and is an integral part to existing and future projects at the company.ResponsibilitiesMaintain a highly accurate and detailed financial model for each property that can be used to support the property’s required financial reporting functionsParticipate in refinancing efforts and capital stack structuringAssist in compiling property-wide business plans and strategic plans, consolidated annual budgets, monthly forecasts, and performance reporting (develop templates, assumptions, analyses and reports of key performance indicators)Market research and analyses: benchmark economic activity in target markets by tracking rents, sales per square foot, operating costs, competitive supply and economic expansion activityAssist with and oversight of financial and retail lease-related analysis projects; specifically Excel cash flow modeling and gathering updated retail leasing and expense information from various partiesConduct scenario analyses based on different leasing, operational, and financing strategiesEstablish and maintain a Project Tracker to track key decisions and action items to maintain compliance with all venture and partnership agreements, loan documents, leases, operator agreements, management agreements, property entitlements, ground leases and other property documentsProperty and lease-accounting related tasks. Should have familiarity with commercial leasing and lease provisionsCommunicate regularly with operating partners for the parking, retail and residential components and provide analysis of their consolidated annual budgets, monthly forecasts, and performance reporting in the context of the overall propertyAssist with and coordinate monthly reports to be submitted to lender, keeping a close eye on all property expenses; as well as analyzing monthly rental incomePresent monthly results to senior executives; requires familiarity with and understanding of all aspects of the property’s financialsCreate budget variance analyses with detailed explanations of variancesConduct rent analysis on a unit by unit basis and produce reports detailing trends, graphs, etc. that indicate specific unit, neighborhood, and building performanceMake recommendations on leasing strategy including initial lease-up plans for new properties and renewal strategy on stabilized propertiesAssist accounting teams with accrual based operating statements submitted to lenderAssist with the preparation of investment sales, equity and debt offering memorandums for the sale or recapitalization of the property
Qualifications
Undergraduate degree required; Advanced Degree a plus3+ years of work experience in Real Estate, Finance, and/or AccountingStrong understanding of sophisticated Excel models, as well as complex real estate cash flow models (experience with ARGUS a plus)Must have advanced Excel Modeling skills – will be testedExperience creating effective presentationsExperience with analyzing commercial leases, cash flow and net operating incomeExcellent analytical skills, with a larger focus on financial reporting and ability to convert raw data into financial analysesPossess strong attention to detail and ability to work under tight deadlines in a fast-paced environmentExperience with accounting systems and information tools such as JD Edwards, Hubble, Hyperion and database applications, a plusRelated Companies is an equal opportunity employer.For information about how we use your personal information, including information submitted for career opportunities, please review our Privacy Policy at
https://www.related.com/privacy-policy .Related will consider for employment qualified applicants with criminal histories in a manner consistent with applicable federal, state, and local laws.#TRC #LI-JF1
Overview
Formed in 1972, Related is the most prominent privately-owned real estate firm in the United States. Headquartered in New York City, the company has offices and major developments across the world. Related owns and manages a premier portfolio of assets valued at over $60 billion, including the 28-acre Hudson Yards neighborhood on Manhattan’s West Side.Related believes in investing in its talent and cultivates a positive, team-oriented environment where every voice is valued. Employees are encouraged to boldly take on new challenges, transcend the status quo, and demonstrate strong entrepreneurial spirit. In its relentless commitment to excellence, Related works to foster an innovative approach in its team members so that they can positively impact the communities in which they conduct business. Learn more about Related at
www.related.com .
#J-18808-Ljbffr