Real Estate Associate
Rice Real Estate Company is looking to add a Real Estate Associate to our team in Houston, TX. The Associate will be a key member of the team and play an integral role. This role will be responsible for supporting the Real Estate team in monitoring and analyzing the financial performance of our real estate assets, including office and retail properties.
The ideal candidate will have a strong understanding of real estate financial modeling for operating and development assets, market analysis, and expert knowledge of Argus and Excel. They will be tasked with conducting in-depth financial analysis, creating investment reports, and contributing to the development and execution of strategies aimed at optimizing asset value and maximizing returns for Rice University. A successful Associate will have an ownership mentality, strong quantitative and qualitative skills, and a desire to support the mission-driven work of Rice University.
This position is client-facing and on-site in Rice Village or the Ion District in Midtown Houston, TX, to effectively carry out its vital functions. Per Rice policy 440, work arrangements may be subject to change.
This is a full-time, benefits-eligible position, and the salary will be commensurate with experience and qualifications. Exempt (salaried) positions under FLSA are not eligible for overtime.
Minimum Requirements:
- Bachelor's Degree
- 4+ years' experience in asset management, real estate development, commercial real estate, or finance
Skills:
- Understanding of environmental, zoning, and regulatory compliance issues
- Passion for real estate and desire to build a career on the principal side
- Advanced financial modeling ability with demonstrated quantitative skills and aptitude
- Intermediate to advanced skills in Microsoft Excel, PowerPoint, and Argus
- Excellent analytical and problem-solving skills with a keen attention to detail
- Self-starter with the ability to work independently with minimal supervision and collaboratively on a team
- Attention to detail under time pressure and the ability to multitask
- Strong academic background
Preferences:
- Bachelor's degree in finance or real estate
- MBA
- Three to five years of experience in analytically rigorous commercial real estate, finance, and/or hospitality environments
- Experience with various types of commercial real estate, such as office, retail, multi-family, and hospitality
Essential Functions:
- Create and manage detailed and dynamic financial underwriting models for development and asset management activities, including cash flow projections, budget variance analysis, and investment performance metrics
- Assist in the preparation of investment memos, presentation materials, various reports, and dashboards
- Track the financial performance of properties, including revenue, operating expenses, and capital expenditures
- Conduct research on best practices, investment strategies, and other relevant topics such as trends in rental rates, occupancy, and property values
- Collaborate with Senior Investment and Development Directors to develop and monitor asset-level budgets and forecasts
- Assist with business plans, including property upgrades, leasing strategies, and recapitalization initiatives
- Track performance against budgets and make recommendations for corrective actions if needed
- Support the development team in underwriting deals and reviewing operational reports, property forecasts, proformas, and Argus cash flows for accuracy, and provide variance analysis
- Assist in the management of third-party vendors and brokers, lease renewals, negotiations, and tenant relations
- Work with the asset operations teams to implement asset strategies, resolve operational issues, and ensure alignment with overall portfolio goals
- Participate in the due diligence process for new acquisitions and dispositions by preparing financial models and supporting materials
- Review and prepare internal and external asset valuations
- Assist with annual property valuations and audits
- Assist with portfolio and strategic analysis
- Assist with ad hoc project management initiatives