The Portfolio Management Associate will be responsible for managing the performance of existing properties within the Related Affordable portfolio. Areas of focus include, but are not limited to, property operational review with a focus on net operating income (“NOI”) management and improvement, financial analysis and waterfall modeling, execution of property level financing and disposition transactions, governmental and state agency communication and compliance, partnership and financing docume... more details
Responsibilities The Portfolio Management Associate will be responsible for managing the performance of existing properties within the Related Affordable portfolio. Areas of focus include, but are not limited to, property operational review with a focus on net operating income (“NOI”) management and improvement, financial analysis and waterfall modeling, execution of property level financing and disposition transactions, governmental and state agency communication and compliance, partnership and financing document review, and real estate and partnership interest valuation. The Associate will prepare detailed financial analyses that will directly affect portfolio strategy and execution. Additional responsibilities include: Financial modeling and presentations with a focus on property/partnership interest valuations and understanding of cash flow and capital transactions waterfalls. Frequent interaction with Property Management regarding the operation and management of Related Affordable’s portfolio of properties. Periodic site inspections and operational evaluations in effort to identify NOI improvement opportunities and best practices. Review of monthly property financial statements to identify trends and issues with NOI, occupancy, and collections performance. Approval of annual property budgets in collaboration with Property Management and Related support teams including Compliance and Accounting. Communicate with outside partners including lenders, investors, non-profit partners, and governmental and state agencies. Review and completion of applications and due diligence necessary for financing and third party property sales. Development, implementation, and management of solutions to resolve property operating and compliance issues and achieve desired financial performance. Management of Section 8 contracts and Section 236 agreements. Preparation of asset and portfolio level presentations for senior management. Compensation $95,000 - $130,000 / year Annual performance based bonus Qualifications The ideal candidate will have a Bachelor’s degree Minimum of 2-3 years of professional experience, preferably in a banking or real estate environment Experience with debt and/or equity components of affordable housing financing preferred, though not necessary. A good understanding of the principles of finance and accounting. Must have familiarity with financial statements and in particular property level operating statements in order to efficiently evaluate property financial performance. Strong analytical, quantitative, financial analysis and modeling skills are required. Must be very proficient in Excel and financial modeling. Strong communications and interpersonal skills in order to interact with Property Management at the site level and communicate findings and solutions at the ownership level Exceptional time management, strong organizational skills, and prioritization are necessary to succeed in a fast-paced environment where the Associate will be required to manage multiple projects with significant responsibilities and competing priorities. Must be able to work well in an entrepreneurial environment, be a team player, and also take ownership of tasks Attention to detail as well as a strong desire to grow and succeed is critical Must have a “can-do” attitude and must be able to work independently Willing to periodically travel Related values diversity in backgrounds and experiences. We are proud to be an equal opportunity employer and are deliberate about the team and culture we are building. We aim to ensure competitive total compensation that is commensurate with experience, workplace geography, and market standards. For information about how we use your personal information, including information submitted for career opportunities, please review our Privacy Policy at https://www.related.com/privacy-policy. #TRC #LI-JF1 Overview Formed in 1972, Related is the most prominent privately-owned real estate firm in the United States. Headquartered in New York City, the company has offices and major developments across the world. Related owns and manages a premier portfolio of assets valued at over $60 billion, including the 28-acre Hudson Yards neighborhood on Manhattan’s West Side. Related believes in investing in its talent and cultivates a positive, team-oriented environment where every voice is valued. Employees are encouraged to boldly take on new challenges, transcend the status quo, and demonstrate strong entrepreneurial spirit. In its relentless commitment to excellence, Related works to foster an innovative approach in its team members so that they can positively impact the communities in which they conduct business. Learn more about Related at www.related.com. Related Beal is a fully integrated real estate firm that operates in Boston and the surrounding region. By leveraging a national real estate platform with expertise across all asset classes, Related Beal has developed, and continues to develop, some of the most recognized buildings in the area including The Clarendon and One Back Bay, 100 Arlington, Lovejoy Wharf, Converse World Headquarters, The Beverly, Congress Square, and the Quinzani Bakery site in the South End. Related Beal is currently undertaking the transformational Channelside mixed-use development. Related Beal has also expanded its platform to include the pursuit of affordable housing opportunities. Learn more about Related Beal at www.relatedbeal.com. Divisional Overview Related Affordable leads the company’s efforts to preserve and improve the nation’s affordable housing stock. Affordable housing acquisitions and development have been the foundation of Related since the company was founded. Today, Related Affordable owns and oversees one of the largest affordable housing portfolios in the nation. The company is driven by the belief that everyone deserves a quality home and works hard to deliver that for communities across the country. Learn more about Related Affordable at www.related.com/affordable-housing.
