The Asset Management Associate position is a key team player who works closely with the Director of Real Estate Asset Management and a team of Asset Managers in managing a diverse portfolio of commercial and residential real estate assets. The Asset Management Associate will analyze property operations and leasing and provide analytical support in the acquisition of new assets. The Asset Management Associate will complete market analyses, cash flow analyses and valuation analyses for the portfolio and present findings. The Asset Management Associate actively supports Asset Managers in the development and execution of strategic business plans and leasing programs.  

ESSENTIAL DUTIES AND RESPONSIBILITIES include, but are not limited to the following:

The Asset Management Associate will play a key role in providing analytical support to the Director and the team of Asset Managers to monitor the performance of the Foundation’s real estate portfolios. The Asset Management Associate will be involved in asset management of the existing portfolio as well as assisting in the review of due diligence and closing of new acquisitions, ensuring compliance with risk management requirements.

Asset Management

• Track, and report on all project capital expenditures and operating budgets. Coordinate asset management projects with accounting, project management and property management teams.
• Provide assistance with lease administration and compliance for commercial properties in the portfolio. 
• Ensure leases are accurately reflected into the Asset Management system monthly.
• Collaborate with asset managers and property management, leasing, accounting and development teams to resolve asset-level issues. 
• Assist with coordination of real estate tax assessment submittals, as needed.
• Support Asset Managers with presentations for prospective tenants. 
• Monitor insurance covenant compliance, in coordination with asset managers.

Financial

• Support asset managers and the accounting team in the development of strategic business plans, annual property budgets and quarterly reforecast process for the portfolio. 
• Review and monitor monthly financial performance reports to confirm results are consistent with approved budgets and business plans. 
• Maintain forecasts of operating expenses and long-term capital needs.
• Support asset managers by creating lease analyses for new leases and renewal and maintain from the letter of intent stage through lease negotiations. 
• Assist the asset managers with the creation of accurate long-term cash flow projections for their portfolios. 
• Create pro forma analyses for existing assets, new acquisitions and new development models, with input from Director and asset managers. 
• Working in conjunction with the Director and Asset Managers, develop financial models in support of an annual hold-sell analysis for the assets in the portfolio, including validation of underlying data such as market rents, operating expenses and relevant financial performance benchmarks. 
• Review property performance and evaluate marketing, pricing, revenue, and financial strategies to both understand and predict trends to develop appropriate strategic plans. 

Market Analysis

• Research and develop market analyses for the portfolio. Keep abreast of market conditions, industry news, and legal issues to determine both the portfolio and asset impact of these changing conditions. 
• Provide general real estate services, including developing written presentation materials, property analysis for the acquisition of real estate by the Director of Real Estate Asset Management. 
• Assist in the automation of the Asset Management Team operating asset performance data, as needed.
• Manage additional projects, as assigned.

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, skills, and/or ability required. 

• College degree required. Bachelor's Degree in Accounting, Finance, Business, Math or Economics is preferred.
• Three to five years’ experience as a real estate analyst or asset management experience required, which may include real estate underwriting experience, budget preparation, review of financial statements and cash flow analysis. 
• Ability to produce and review cash flow analysis models for real estate assets.
• Proficiency in analyzing property operating statements, rent rolls, and financial statements and utilizing this information in modeling cash flow forecasts and scenarios.
• Strong computer skills with excellent Word, MS Excel, Power Point and willingness to learn new software platforms.
• Knowledge of financial reporting requirements of real estate operating entities is desirable.
• Highly developed analytical skills including the ability to create complex spreadsheets and financial analyses.
• Strong organizational skills and ability to coordinate complex projects, prioritize conflicting demands and      meet deadlines. Ability to manage and prioritize multiple tasks. 
• Strong verbal communication and business writing skills.
• Excellent problem-solving and critical-thinking skills.
• Highly motivated and able to work independently.
• Work as an effective, collaborative team member to produce high-quality results.
• Proficiency in analyzing property operating statements, rent rolls, and financial statements and utilizing this information in modeling cash flow forecasts and scenarios.
• High integrity, strong interpersonal and partnership skills, achievement drive, and intellectual curiosity.

BENEFITS AND COMPENSATION INFORMATION:

The UVA Foundation offers a professional work environment, competitive pay, and comprehensive benefits, which include: generous health, dental, and vision insurance, 403(b) retirement plan, paid time off, wellness programs, educational tuition reimbursement, flexible work accommodations, and more. 

REPORTS TO:

This position reports to the Director of Real Estate Asset Management.