Senior Analyst/Associate - Asset Management, Multifamily
Beacon Management, Lakewood, NJ, United States
Senior Analyst
The Senior Analyst reports into the Vice President, Multifamily Asset Management and assists in all aspects of property-level operating activities and strategies for the Company's growing residential portfolio of over 23,000 multi-family units across several states including NY, NJ, PA, MI, IL, VA, MD, MA, CA, IN, AL, TX, FL, GA, OH and TN. Responsibilities include financial review and reporting, revenue management, budget preparation, and assisting with oversight of third-party property management firms. The ideal candidate has experience in multifamily asset management, strong analytical skills, ability to decipher financial data to effectively review and evaluate residential investment opportunities. Required to have the ability to assess and help drive the performance of individual residential assets in Lightstone's portfolio. Must be able to work independently with minimal supervision and thrive in an environment that is highly entrepreneurial, both strategic and creative. Requires rapid learning, multitasking and prioritizing under tight deadlines. Travel is required. Essential Functions
Review and analyze monthly property financial statements; conduct various analyses of accounting reporting, real estate taxes, risk management, property information, and utility consumption. Prepare quarterly investor reports and presentations. Assist Operations team with ad-hoc financial analyses of the properties in Lightstone's residential portfolio and incorporate into presentations for executives. Assist Accounting team with corporate forecasts and annual budgets. Coordinate and manage the annual portfolio budgeting process. Assist in preparation of annual Asset Management Plan including valuations, sell vs. hold analyses, etc. Analyze and monitor the financial performance of investments, which entails maintaining financial models, reviewing annual budgets, and raising awareness of performance concerns. Analyze income statements or prepare other analyses related to maximizing revenues and minimizing expenses that lead to strategies to improve asset performance. Produce ad-hoc analyses to evaluate the performance of assets. Analyze and identify opportunities for value enhancement, improving cash flow within the portfolio including dispositions, refinancing and lease transactions. Analyze financial models to evaluate investment returns on proposed capital projects and acquisition/developments. Monitor unit renovation programs including renovation costs and premiums achieved and make recommendations on pricing and renovations. Analyze and evaluate new investment opportunities for Lightstone Assist with due diligence on new acquisition Synthesize research and findings into concise presentations. Collect market data, perform rent comp analyses and conduct benchmarking analysis. Assist with asset management of portfolio including periodic visits to assets and interfacing with third party management companies. Perform benchmarking of portfolio to identify areas of opportunity within portfolio Qualifications
Minimum 3-5 years of relevant experience of multi-family asset management/analyst across a national / multi-state portfolio. Bachelor's Degree preferably with a concentration in Real Estate, Finance, or Business-related degree (advanced degree preferred but not essential) Competencies
Understanding of multifamily rental properties across different markets Solid understanding of multifamily operations for the purposes of effective underwriting and due diligence; Able to read, analyze, and interpret complex business documents including financial reports, and contracts. Strong analytical skills and quantitative skills and highly skilled in financial analysis. Experience using AI to create efficiencies and automate tasks Understanding of accounting procedures and financial reports with ability to analyze variances. Proficiency with Microsoft Office suite, with proficiency in Excel including complex financial models. Demonstrated ability to identify errors, problems and opportunities. Demonstrated problem solving, decision making, and continuous process improvement skills. Able to work proactively, independently and as a strategic partner in a team environment. Ability to effectively communicate and work with various departments within the Company. Effective presentation and communication skills, both verbal and written. Highly-organized, detail-oriented, motivated, and able to multi-task effectively in a deadline driven environment while maintaining strict attention to detail. Must be willing to travel. Salary - $125 - $145k, plus bonus, offered salary commensurate with experience Lightstone offers our employees a comprehensive and competitive benefits program inclusive of: Paid time off for vacation and sick leave Health, dental, and vision insurance, and wellness programs 401(k) and Roth retirement plans Flexible spending accounts (medical & dependent care) Life and AD&D insurance with options for supplemental employee, spouse, and child Long-term and short-term disability insurance Commuter spending accounts (transit and parking) Tuition assistance and employee assistance program Corporate discount programs
The Senior Analyst reports into the Vice President, Multifamily Asset Management and assists in all aspects of property-level operating activities and strategies for the Company's growing residential portfolio of over 23,000 multi-family units across several states including NY, NJ, PA, MI, IL, VA, MD, MA, CA, IN, AL, TX, FL, GA, OH and TN. Responsibilities include financial review and reporting, revenue management, budget preparation, and assisting with oversight of third-party property management firms. The ideal candidate has experience in multifamily asset management, strong analytical skills, ability to decipher financial data to effectively review and evaluate residential investment opportunities. Required to have the ability to assess and help drive the performance of individual residential assets in Lightstone's portfolio. Must be able to work independently with minimal supervision and thrive in an environment that is highly entrepreneurial, both strategic and creative. Requires rapid learning, multitasking and prioritizing under tight deadlines. Travel is required. Essential Functions
Review and analyze monthly property financial statements; conduct various analyses of accounting reporting, real estate taxes, risk management, property information, and utility consumption. Prepare quarterly investor reports and presentations. Assist Operations team with ad-hoc financial analyses of the properties in Lightstone's residential portfolio and incorporate into presentations for executives. Assist Accounting team with corporate forecasts and annual budgets. Coordinate and manage the annual portfolio budgeting process. Assist in preparation of annual Asset Management Plan including valuations, sell vs. hold analyses, etc. Analyze and monitor the financial performance of investments, which entails maintaining financial models, reviewing annual budgets, and raising awareness of performance concerns. Analyze income statements or prepare other analyses related to maximizing revenues and minimizing expenses that lead to strategies to improve asset performance. Produce ad-hoc analyses to evaluate the performance of assets. Analyze and identify opportunities for value enhancement, improving cash flow within the portfolio including dispositions, refinancing and lease transactions. Analyze financial models to evaluate investment returns on proposed capital projects and acquisition/developments. Monitor unit renovation programs including renovation costs and premiums achieved and make recommendations on pricing and renovations. Analyze and evaluate new investment opportunities for Lightstone Assist with due diligence on new acquisition Synthesize research and findings into concise presentations. Collect market data, perform rent comp analyses and conduct benchmarking analysis. Assist with asset management of portfolio including periodic visits to assets and interfacing with third party management companies. Perform benchmarking of portfolio to identify areas of opportunity within portfolio Qualifications
Minimum 3-5 years of relevant experience of multi-family asset management/analyst across a national / multi-state portfolio. Bachelor's Degree preferably with a concentration in Real Estate, Finance, or Business-related degree (advanced degree preferred but not essential) Competencies
Understanding of multifamily rental properties across different markets Solid understanding of multifamily operations for the purposes of effective underwriting and due diligence; Able to read, analyze, and interpret complex business documents including financial reports, and contracts. Strong analytical skills and quantitative skills and highly skilled in financial analysis. Experience using AI to create efficiencies and automate tasks Understanding of accounting procedures and financial reports with ability to analyze variances. Proficiency with Microsoft Office suite, with proficiency in Excel including complex financial models. Demonstrated ability to identify errors, problems and opportunities. Demonstrated problem solving, decision making, and continuous process improvement skills. Able to work proactively, independently and as a strategic partner in a team environment. Ability to effectively communicate and work with various departments within the Company. Effective presentation and communication skills, both verbal and written. Highly-organized, detail-oriented, motivated, and able to multi-task effectively in a deadline driven environment while maintaining strict attention to detail. Must be willing to travel. Salary - $125 - $145k, plus bonus, offered salary commensurate with experience Lightstone offers our employees a comprehensive and competitive benefits program inclusive of: Paid time off for vacation and sick leave Health, dental, and vision insurance, and wellness programs 401(k) and Roth retirement plans Flexible spending accounts (medical & dependent care) Life and AD&D insurance with options for supplemental employee, spouse, and child Long-term and short-term disability insurance Commuter spending accounts (transit and parking) Tuition assistance and employee assistance program Corporate discount programs