Associate, Investments and Asset Management

Carmel Partners, one of the nation’s leading specialists in real estate investment management, with expertise in the investment, development, and construction of multi-family real estate, is seeking an Associate, Investments and Asset Management in our New York Regional Office.

The Associate position’s primary objective is to evaluate new opportunities, enhance operations, and optimize returns for individual assets and the overall property portfolio. This involves underwriting new acquisitions, executing business plans, and maximizing value of held assets. The Associate oversees a small portfolio of assets in an assigned region.

A place for you

Here at Carmel, we don’t just invest in buildings, we invest in careers. If you don’t meet all the qualifications listed for this role, we encourage you to monitor our career page for upcoming opportunities. We are committed to assembling diverse teams with exceptional talent and urge individuals from underrepresented groups to apply. Everyone’s career journey is unique, so let’s explore how you could be a great fit for our team!

What you’ll do

• Work closely with Senior Vice Presidents and Directors of Asset Management and Investments to maximize operations of a regional portfolio of properties and evaluate new opportunities
• Support Asset Management, Development, and Investments Teams with analysis for existing and potential deals
• Oversee the strategic and financial performance of assigned properties
• Conduct detailed monthly financial reviews to monitor property budgets and performance against benchmarks
• Prepare monthly cash flow projections for portfolio of assets
• Collaborate with onsite managers and external parties to maintain leasing targets
• Provide ongoing analysis of and make recommendations for rent & concession strategies, property financials, leasing trends, expiration schedules, submarket fundamentals, and portfolio trends. Including contributions to revenue management/pricing calls with analysis and recommendations
• Participate in annual budgeting as well as preparation and presentation of Quarterly Asset Reviews, and Annual Asset Level Business Plans for Carmel Senior Leadership, including detailed analysis of actual property performance compared to goals, budget, and historical performance
• Manage new and existing deal pipeline for assigned markets/sub-markets
• Participate in underwriting potential acquisition and development deals and assist with due diligence process
• Assist in quarterly valuation and disposition monitoring
• Coordinate with brokers on marketing materials and due diligence
• Conduct market research to understand competitor offerings, market trends, and shop competitive properties annually
• Prepare preliminary financial packages and investment memorandums for Investment Committee
• Effectively utilize Asset Management’s operational software systems for reporting, tracking, and analysis
• Lead initiatives to enhance company-wide tools, processes, and deliverables
• Prepare cash flow projections and business plans to evaluate investment alternatives and support exit strategies
• Oversee the technical/underwriting training for Financial Analysts assisting the team

Who you are

• Ability to communicate effectively with and present information to Senior Management
• Excellent written, verbal, and analytical skills
• Creative, self-motivated, and intellectually curious to drive results independently and as part of a team
• Excellent organizational and time management skills - able to manage and execute on multiple projects simultaneously
• Values relationships - thrives in a team-oriented setting
• Passionate about the investment and real estate industries

What you’ll bring

• Bachelor’s degree in real estate, finance, or related field required, MBA a plus
• 4+ years’ professional experience in commercial real estate, financial analysis, or asset management (multifamily preferred) with 2+ years’ experience in underwriting and acquisitions and 2+ years’ experience in the New York market
• Excellent analytical, financial, and quantitative skills, with the highest level of attention to detail
• Strong presentation skills enabling the ability to make written and oral recommendations and interact…