Real Estate Associate

New York Life Insurance Company is a premier asset manager and the largest mutual insurance company in the world. The Asset Management Associate will support asset managers in all analytic, operational, and strategic aspects of their business, including quarterly valuations, lease analysis, and due diligence for new acquisitions.

Responsibilities

• This person will support the asset managers with analytic support including lease analysis, hold/sell models, JV waterfall calculations, quarterly valuations etc. They will support the performance of due diligence, including gathering and maintaining market statistics and coordinating the work of external consultants and appraisers
• Support the asset managers on the timely completion and/or review of accurate quarterly and annual property valuation analysis
• Participate in property level conference calls with asset manager, third party property managers and leasing agents
• Review monthly financial and operational reports from property managers and/or JV partners
• Monthly reconciliation of actual asset level performance to plan/underwriting
• Process monthly capital funding requests and perform quarterly capital reconciliation with accounting and portfolio management
• Assist in preparation and completion of Lease summary and required approval process
• This person will also help prepare investment committee memorandums
• Prepare and review property level financial investment valuation and performance models using Argus Enterprise and Excel based on information provided from various sources including acquisition officers, asset managers, outside brokers, appraisers, and other service providers
• Maintain current real estate market data for areas under investment consideration, in addition to existing asset markets
• Manage external sources of data (brokers, appraisers, etc.) in target markets
• Assist asset managers with various valuation projects including quarterly and annual internal property valuations, hold/sell analysis, and lease analyses
• Attend networking, industry, and market functions
• Train others in the use of Excel and Argus valuation software, as necessary
• Limited travel requirements to primarily the Texas and other Southwest markets

Skills

• 1-3 years of investment analysis experience, preferably with an institutional investment company, brokerage company, or related real estate firm
• A fundamental understanding of the commercial real estate market
• Experience working on varied transactions including interaction with principals, developers, and brokers
• Strong hands-on knowledge and abilities in Excel and Argus/Argus Enterprise
• Strong analytical skills, aptitude, and experience
• Excellent written and verbal communication skills
• Attention to detail is a must
• Ability to work independently and collaboratively, and to generate high quality output
• Bias for learning, acting with agility and having a customer focus
• Must meet deadlines and work with multiple asset managers
• An undergraduate degree in real estate, urban planning, finance, or economics is preferred
• Prior experience with joint venture transactions, including financial waterfall analysis, is a plus
• Familiarity with multiple real estate markets and experience with performance calculation a plus

Benefits

• Leave programs
• Adoption assistance
• Student loan repayment programs

Company Overview

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