POSITION TITLE: AVP Asset Management
RXR Realty LLC (“RXR”) is a New York-based vertically integrated real estate operating and development company, having approximately 460 employees with expertise in a wide array of value creation activities including distressed investments, uncovering value in complex transactions, structured finance investments and real estate development. RXR's operating platform manages 90 commercial real estate properties and investments comprising approximately 25.1 million square feet with an aggregate gross asset value of approximately $15.0 billion as of September 30, 2016. In addition, RXR has a residential development pipeline of approximately 3,200 units.
RXR Realty currently has an outstanding career opportunity for an analytical focused AVP, Asset Manager to join its team. The role entails a focus on the long-term strategic real estate financial planning and performance monitoring of individual assets and portfolios. The Asset Manager would be responsible for the development of sophisticated financial modeling and analyses, and the analysis and interpretation of financial and accounting data in order to evaluate operating results in terms of profitability, performance, and business plans as well as other matters bearing on the fiscal soundness and operational efficiency of the assets.
Principal Duties & Responsibilities:
- Develop, Perform, and Oversee Sophisticated Financial Analysis
- Develop sophisticated financial modeling and analyses, including discounted cash flows, IRR analysis, promote and return waterfalls, NPV analysis, etc.
- Maintain and develop complex financial models for each asset utilizing Microsoft Excel and Argus
- Assist in performing refinancing analyses, quarterly valuations, sell/hold analyses, leasing NPV/NER, and other ad hoc requirements
- Business Plan/Budget/Reforecast - Preparation & Presentation (Internal & External
- Create, maintain and interpret financial data.
- Determine budget requirements, discuss with property management personnel any factors that can affect budgets & reforecasts
- Coordinate lease up and rollover assumptions with Leasing Team
- Coordinate capital project budget with construction and fund manager
- Prepare business plan/reforecast presentations, custom reports and communicate it to Senior Management and partners.
- Argus & Excel Models – create and maintain for each asset
- Prepare, Assemble, and distribute various Annual, Quarterly and Monthly Reports
- Revenue and Expense Compliance and Control
- Lease Analysis and Financial Modeling
- Loan Compliance and JV Compliance
- Accounts Receivable and Collections
- Revenue and Expense Variance Reporting
- Quarterly Asset Management Report
- Prepare, maintain and manage cash flow models for property and/or portfolio.
- Liaison and communicate with outside parties, partners, investors, lenders. Obtain requisite approvals (lease transactions, budgets…) as directed.
- Risk mitigation through identification of unexpected trends.
- Management and execution of portfolio or property level loan draws and required partner draws.
- Asset Integration – Participation in the closing process and assist with the transitioning of new acquisitions into the RXR portfolio and systems, interacting with other departments.
- Tax Certiorari - review real property and other tax billings and participate in tax certiorari claims.
- Investments & Strategic Initiatives - participate during the due diligence phase of the acquisition process and analysis, assist in the coordination of recapitalizations, debt refinancing, restructurings and asset dispositions.
- Liaison to Other Departments
- Interface with property management, leasing, and construction in order to gather information and/or provide assistance with regard to financial analysis of future leasing deals and expense analysis.
- Liaison to Accounting – assist in assembling and distributing financial reporting data as required by partners/lender’s in a timely and efficient manner.
- Work with senior management and appraisers on valuations
Required Skills & Qualifications:
- 4 to 7 years of prior Asset Management or Acquisitions experience required
- Bachelor’s Degree in finance, real estate, accounting, or related field
- Understanding of real estate fundamentals, financing principles, and capital structures
- Proficient in Word, Excel, PowerPoint, and ARGUS required
- Yardi and Kardin experience a plus but not required
- Effective oral and written communication skills
- Outstanding quantitative and analytical skills
- Ability to work both independently and as a team member
- Ability to multi-task effectively
Competitive salary plus discretionary bonus, commensurate with experience
RXR Realty is headquartered in Uniondale, Long Island with offices in New York City. This role will split time between the Uniondale office and the New York City office with others in the Asset Management group.
Please email resumes to [email protected]