Oversees all aspects of the financial modeling/underwriting of prospective developments and acquisitions including preparation of Investment Committee (IC) approval packages, participation in presentation of opportunities to the IC, and completion of financial due diligence. Serves as asset manager for stabilized projects in business unit, responsible for preparing property operating and capital budgets and overseeing implementation of property business plans. Oversees or maintains asset management system (ELITE) data and information for business unit.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Accountable for all financial projections for prospective acquisitions and investments.
Collects, reviews, and verifies market information supporting assumptions used in financial projections, including (but not limited to) rent rates, vacancy rates, historic absorption rates, current and future competition, capitalization rates, development costs, and other local market data as necessary.
Ensures the smooth Investment Committee approval and subsequent closing and compliance with any conditions of that approval.
Serves as asset manager for leased properties in business unit portfolio, with responsibility for preparing property operating and capital budgets and overseeing implementation of property business plans.
Reviews and comments on all external consultants' due diligence reports, highlighting areas of concern.
Maintains interface with external clients and internal business units, ensuring fast response time for all prospective investments and potential third party sponsors.
Other duties may be assigned.
No formal supervisory responsibilities in this position. Provides informal assistance such as technical guidance, and/or training to coworkers. May lead project teams and/or plan, and supervise assignments of lower level employees.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and EXPERIENCE
Bachelor's degree in business or equivalent from appropriate 4-year college program (Law degree or MBA preferred). Typically at least 3-5 years experience in commercial real estate with strong financial or marketing orientation, or equivalent combination of education and relevant experience.
Excellent written and verbal communication skills. Strong organizational and analytical skills.
Ability to provide efficient, timely, reliable and courteous service to customers. Ability to effectively present information to internal and external constituencies. Ability to negotiate small and/or less complex leases.
Requires advanced knowledge of financial and real estate terms and principles. Ability to calculate intermediate figures such as percentages, discounts, net present value, internal rate of return, and commissions. Conducts advanced financial analysis of prospective development and investment opportunities, and prospective tenant and contractor financial statements.
Ability to comprehend, analyze, and interpret complex documents, including leases, venture agreements, and loan documents. Ability to solve problems involving several options in situations. Requires advanced analytical and quantitative skills.
OTHER SKILLS and ABILITIES
SCOPE OF RESPONSIBILITY
Decisions made with thorough understanding of procedures, company policies, and business practices to achieve general results and deadlines. Responsible for setting work unit and/or project deadlines. Errors in judgment may cause short-term impact to department.
CB Richard Ellis