Senior Associate, Real Estate (Finance)

Position Summary

The Rice University Endowment is approximately $6 billion and ranks in the top 20 endowments of private research universities (by market value) in the US. The endowment is critical to the university's ability to achieve its goals. The annual distribution from the endowment funds nearly half of the university's annual operating budget. The Rice Management Company (RMC) was established October 1, 2009, as a division of Rice University. The goal of the RMC is to provide a stable source of funding for current university operations and to preserve and grow the purchasing power of the endowment to benefit future generations of students. The RMC is responsible for all endowment matters of the university including asset allocation, the selection and termination of investment managers and monitoring performance of the portfolio, and reporting to the Rice Management Company Board of Directors. The endowment primarily utilizes outside investment managers and invests globally across all asset classes.

The senior associate, real estate reports to the Investment Manager, Asset Management. The primary focus of this role will be the continued re-position of Rice Village, Rice Management Company's 300,000-square foot predominately retail district in the heart of Houston. In addition to the required skills listed below, this person must possess a strong work ethic, attention to detail, the ability to work in teams, self-motivation, and good verbal/written communication skills.

Salary

Salary commensurate with experience and qualifications

Essential Functions

• Prepares reports for the routine review of asset class level performance
• Assists with investments due diligence process
• Assists with the development and maintenance of asset class models and databases
• Participates in investment research projects
• Assists in the preparation of materials for quarterly board meetings
• Performs all other duties as assigned

Additional Functions/Information

• Supports property-level activities including operations, leasing, capital improvements, and financial performance
• Supports the underwriting, asset management, and financial analysis of direct real estate investments (i.e., review of due diligence, financial models, project budgets, market information, etc.)
• Supports and reviews strategic leasing plan, considering critical lease terms (tenant mix, credit worthiness of tenants, target rent, credit lease terms, etc.) and reviewing applicable legal documents
• Coordinates effectively with 3rd party partners to ensure appropriate planning, project management and execution of property operations and capital projects
• Supports real estate team in realizing the long-term vision and maximizing the financial performance of Rice Village and other direct real estate assets
• Analyzes and reviews annual plans, development budgets, operating budgets, rent rolls, leases, property operating statements, and financial statemen
• Creates sensitivity analyses and portfolio roll-ups of investment financial models
• Performs and compiles real estate market data and supporting materials
• Reviews 3rd party valuation reports and supporting data
• Supports annual budget, cash flow and financial models and schedules
• Supports annual portfolio review
• Prepares presentation materials for investment committee and regular meetings
• Provides support to real estate portfolio management functions, including but not limited to, legal documents, and file management and retention
• Develops complex financial data and metrics reports for a variety of internal and external audiences
• Assists in building 3rd party relationships
• Performs other duties as assigned

Required Qualifications

• Bachelor's degree in business, accounting, finance or other related field
• Three years of experience in real estate industry - asset management, portfolio and/or fund management, development, financing, investment banking, and other applicable sectors
• Excellent analytical, financial modelling, and valuation skills, ideally with a real estate and/or corporate focus
• Demonstrated project management acumen and leasing experience
• Advanced knowledge of real estate investment and underwriting principles
• Ability to understand and review real estate documents (e.g., leases, loan documents, rent rolls, etc.)
• Excellent oral and written communication skills
• Strong interpersonal skills, with the ability to present information and respond to questions/inquiries from senior staff, peers, business associates and the general public
• Proficiency in Microsoft Office Suite (i.e., PowerPoint and Word; advanced Excel skills) and ARGUS Enterprise
• Ability to work independently with minimal supervision, and on a collaborative basis as part of a team
• Accuracy, attention to detail, ability to multi-task, and organizational skills
• Team orientation and strong interest in supporting the work of a university endowment

Preferred Qualifications

• MBA or MSRED a plus
• Commercial real estate industry experience, preferably retail
• Asset, portfolio and/or fund management experience
• Excel pro forma modeling experience
• Experience with real estate investment underwriting
• Experience with real estate valuations
• Fundamental pro forma and modeling skills
• Basic understanding of real estate debt terms

About Us

Boasting a 300-acre tree-lined campus in Houston, Rice University is ranked among the nation's top 20 universities by U.S. News & World Report. Rice has a 6-to-1 undergraduate student-to-faculty ratio, and a residential college system, which supports students intellectually, emotionally and culturally through social events, intramural sports, student plays, lectures series, courses and student government. Developing close-knit, diverse college communities is a strong campus tradition, which is why Rice is highly ranked for best quality of life and best value among private universities.