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Analyst, Asset Management (The Grand)

- 9592

- US-CA-Los Angeles

- Development

- 333 South Grand Avenue


Responsibilities

The Analyst role will create forward-looking financial information and financial analysis used to support decision making for The Grand. The position will have responsibility for actuals, forecast, and budget consolidation for The Grand’s Master Association, retail and parking business units and cost centers as well as the overall property roll-up, including the residential and hotel.  The position will also have responsibility for Argus modelling and financial analyses of retail tenant information, retail lease abstracts, CAM/Expense pool configurations, and development of multi-year cash flow projections, with help from budget teams.  This role requires significant interaction with senior level executives within the company. Responsibilities will include, but are not limited to:

 

  • Maintain a highly accurate and detailed financial pro forma model for the property that can be used to support the property’s required financial reporting functions.
  • Assist 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 activity.
  • Assist with and oversight of financial and retail lease-related analysis projects; specifically ARGUS and Excel cash flow modeling, modeling of complex NNN recovery calculations, gathering updated retail leasing and expense information from various parties.
  • Conduct scenario analyses based on different retail leasing, operational, and financing strategies.
  • Establish 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 documents.
  • Property and retail lease-accounting related tasks. Should have familiarity with commercial retail leasing and lease provisions.
  • Communicate regularly with operating partners for the parking, hotel and residential components and provide analysis of their consolidated annual budgets, monthly forecasts, and performance reporting in the context of the overall property.
  • Assist with and coordinate monthly expense draws to be submitted to lender, keeping a close eye on all property expenses; as well as analyzing monthly rental income.
  • Present monthly results to senior executives; requires familiarity with and understanding of all aspects of the property’s financials.
  • Create budget variance analyses with detailed explanations of variances.
  • Conduct retail tenant sales analyses and produce reports detailing trends, graphs, etc. that indicate retail tenants’ performance.
  • Understanding of retail tenant billings and accounts receivable.
  • Assist with individual retail tenant related disputes including co-tenancy requirements, NNN recovery calculations, past due balances, and amendments.
  • Assist accounting teams with accrual based operating statements submitted to lender.
  • Assist with the preparation of investment sales, equity and debt offering memorandums for the sale or recapitalization of the property.
  • Candidates need to possess a strong attention to detail and the ability to work under tight deadlines in a fast-paced environment.

Qualifications

  • Undergraduate degree required; Advanced Degree a plus
  • Minimum of 1-2 years of work experience in Real Estate, Finance, and or/Accounting;
  • Minimum of 1-2 years’ experience working with ARGUS Enterprise (the ability to build a model from scratch and to test existing ARGUS files) and a strong understanding of sophisticated Excel models, as well as complex real estate cash flow models.
  • Must have advanced Excel Modeling skills – will be tested
  • Experience with MS PowerPoint
  • Experience with analyzing commercial leases, cash flow and net operating income
  • Excellent analytical skills, with a larger focus on financial reporting and ability to convert raw data into financial analyses
  • Experience with accounting systems and information tools such as JD Edwards, Hubble, Hyperion and database applications, a plus

 

Please note that Related has adopted a COVID-19 vaccination policy to safeguard the health and well-being of our employees. As a condition of employment, Related employees working on-site are required to be fully vaccinated for COVID-19, unless a reasonable accommodation is approved or as otherwise required by law.

 

Related Companies is an equal opportunity employer.

 

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Overview

Related Companies is a global real estate and lifestyle company defined by innovation and the most prominent privately-owned real estate firm in the United States with over sixty billion in assets owned or under development including the 28-acre Hudson Yards neighborhood on Manhattan’s West Side, The Grand and Related Santa Clara in California and The 78 in Chicago. Formed over 45 years ago, Related is the largest private owner of affordable housing and a fully-integrated, highly diversified industry leader with experience in virtually every aspect of design, development, acquisitions, management, finance, hospitality, sustainability, and sales. Related’s mixed-use, residential and commercial office properties have been consistently heralded for their placemaking vision – bringing together iconic design, arts and culture, dynamic programming, and innovative wellness programs. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi and London, and boasts a team of approximately 4,000 professionals. Related was recently named to Fast Company Magazine’s list of the 50 Most Innovative Companies in the World. For more information about Related, please visit www.related.com.


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