POSITION: Analyst/Sr. Analyst (reports to the Director of Acquisitions)
COMPANY: Ellis Partners is a privately-owned commercial real estate investment and development company founded in San Francisco in 1993. Working with a strong group of long-standing private and institutional partners, the firm has successfully acquired and developed assets valued at over $2.5 billion. Ellis Partners has a long track record of success in the acquisition, entitlement, development, renovation and repositioning of office, industrial, retail, residential and mixed-use properties in Northern California. Please see our website additional information on current team members and representative projects: .
JOB SUMMARY: This is a cross-disciplinary role working with both the Acquisitions (new investments) department and the Asset Management department. Chief responsibilities will involve (i) evaluating prospective real estate investments, including the preparation of financial analyses and deal memorandums, (ii) providing transaction support through the due diligence and acquisition process, (iii) conducting market and economic research, (iv) working with the acquisitions team to track deal flow, and (v) maintaining and updating financial models and performing other ad hoc analyses on existing portfolio assets.
- Prospective Acquisition Evaluation
- Create detailed pro forma cash flow analyses using Argus and Excel
- Analyze, interpret, and model the mechanics of leases, operating expenses, tenant reimbursements, and capital expenditures using Argus
- Compute investment return metrics such as return on cost (ROC), internal rate of return (IRR), and equity multiples in the proprietary valuation model and verify results
- Modify Argus and valuation models to run sensitivities based on changes in market leasing assumptions, space absorption, operating expenses, financing alternatives, and exit values.
- Transaction Support
- Provide transaction support with respect to the review of due diligence materials, abstraction of leases, evaluation of operating expenses, and collection and dissemination of documents to lender and equity investors
- Market & Economic Research
- Research general market and economic conditions – track market vacancies, absorption, rents, new construction – and summarize and disseminate developing trends that can inform our acquisition strategy
- Compile, summarize, and disseminate in-depth market research relevant to particular opportunities
- Evaluate competitive buildings, relevant sale & lease comps, economic drivers, historic market rents, etc.
- Monitor and maintain key capital markets indicators
- Deal Flow
- Maintain pipeline of potential deals from inception through completion
- Asset Management Support
- Support asset managers in quarterly financial model updates and periodic market data analyses for existing portfolio assets
- Strong desire to work in the real estate sector
- Proficiency of MS Excel is required, experience with Argus is a plus
- Understanding of general finance concepts including cash flow forecasting and capital markets
- Detail oriented with strong quantitative and analytical skills
- Excellent written and verbal communication skills with the ability to synthesize quantitative financial analysis into concise written and verbal reports
- Highly motivated team player with excellent interpersonal skills and the ability to interface with personnel of all levels both internally and externally
- BA or BS with an emphasis in Real Estate, Economics, Accounting or Finance preferred
- Some real estate experience preferred (summer internship or 1-2 years of work experience) but not required for the right candidate
COMPENSATION: Commensurate with experience
- Asset Management
- Financial Analysis
1+ to 2 years
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