Open Position: Senior Associate, Investments
Position Overview:
The Senior Associate will assist with the underwriting and analysis of prospective investments and oversight of existing investments, helping to manage assets during predevelopment, construction, repositioning, stabilization and disposition. The position will interface closely with senior members of the firm and the firm’s Investment Committee as one of the focal points of the investment process on specific transactions.duties.
Responsibilities:
Underwriting, Asset Management and Analysis
• Assess strengths and weaknesses of investment proposals and make recommendations.
• Conduct pre-acquisition due diligence and market research for real estate acquisition opportunities.
• Interface with the firm’s internal resources (including finance, risk management, asset management and portfolio management) to complete due diligence of the proposed investment.
• Oversee and evaluate joint venture partners’ management of the development process for assets in which MacFarlane Partners participates as an equity partner.
• Adhere to firm/client policies and procedures related to investments.
• Understand risk/reward relationships in transactions and fit with overall firm strategy.
• Perform and participate in financial analysis: review and/or create detailed financial pro forma and return sensitivity analyses, including promote structures and IRR waterfalls, and the impact on the overall portfolio
• Prepare, review and/or edit investment submittals and present transactions to Investment Committee for approval of transactions in accordance with the firm’s policies and procedures
• Other projects as requested by senior management.
Communication
• Prepare thorough and concise investment memos for internal senior management recommending a course of action based on detailed financial projections and market research.
• Assess strengths and weaknesses of investment proposals and make recommendations.
• Provide portfolio management with information on existing and prospective transactions and prepare material for investors.
• Prepare presentations for potential equity partners and co-investors.
• Coordinate information with other departments, including accounting, portfolio management, risk management, finance and investments. Work with accounting to update actual performance of assets on a quarterly basis. Work with the finance team to better understand the current capital markets and how they will affect return analyses.
Property
• Compile and review market/submarket data to underwrite valuations, identify trends, verify acquisition underwriting and prepare client reports.
• Conduct property inspections and assess competitive properties; reconcile performance and position.
• Evaluate and approve property and portfolio reports and analyses, (e.g., appraisals, environmental reports, market feasibility studies and architectural and engineering reports)
• Create and update property and portfolio analysis.
• Review leases, abstracts, contracts, loan documents, etc., as needed.
• Update internal valuations of existing assets quarterly.
• Monitor compliance with company’s and client’s policies and procedures, and those of property-level agreements.
• Conduct property tours and assessments with existing and potential investors, and third-party consultants.
Qualifications:
Education and Experience
• An undergraduate degree is required; a graduate degree is preferred.
• At least five years of experience in real estate underwriting, acquisitions and/or development.
Knowledge, Skills, and Abilities
• Excellent cash-flow and valuation-modeling competency.
• Self-motivated and willing to work with a small team in an entrepreneurial, fast-paced, demanding environment.
• Strategic Thinking: Develop strategies to achieve organizational goals and overall client/fund outcomes; understand organization’s strengths and weaknesses; analyze market and competition; identify external issues and opportunities; adapt strategy to changing conditions.
• Business Acumen: Understand business implications of decisions; display orientation to profitability; align work with strategic goals.
• Communication: Speak clearly and effectively; be thoughtful and persuasive; write clearly and informatively, varying writing style to meet needs; build consensus.
• Interpersonal Skills: Consider and respond appropriately to the needs and capabilities of different people in different situations; treat others with respect; relate effectively with others when encountering difficult situations.
• Judgment: Exhibit sound and accurate judgment; clearly explain reasoning for decisions; include appropriate people in decision-making process; demonstrate persistence and overcome obstacles; take calculated risks to accomplish goals.
• Quality: Demonstrate attention to detail, accuracy and thoroughness.
• Able to shift priorities quickly to meet time sensitive demands.
Computer Skills
• Proficient use of Excel and knowledge of Argus.
Supervision:
No supervisory duties.
Physical Requirements and Work Environment:
• Work is performed in an office setting.
• Work is primarily performed sitting, standing and walking.
• Work requires some squatting and kneeling.
• Regularly sit at a computer station and operate electronic equipment 6 to 8 hours per day.
• Frequently lift, cary and position objects weighing up to 25 pounds.
MacFarlane Partners is committed to employing a diverse workforce. We value and actively seek to recruit, develop and retain people with backgrounds, experiences and perspectives that reflect the full diversity of our society.
For consideration, please e-mail your resume to careers@macfarlanepartners.com.
