Associate, Real Estate - Asset Management

About this role

BlackRock, Inc. & BlackRock Private Equity Real Estate Description:

 

BlackRock, Inc. (NYSE: BLK) is the world’s largest asset manager with $10 trillion in assets under management across Equities, Fixed Income, Cash Management and Alternatives. BlackRock Private Equity Real Estate, part of the BlackRock’s Private Markets platform, manages over $26 billion in real estate equity in the US, Europe, and Asia-Pacific. BlackRock’s Private Equity Real Estate team manages equity real estate investments on behalf of public and private pension plans, insurance companies, foundations, endowments, and private investors. The platform manages a broad array of investment strategies, including core, value-add and opportunistic, through separate accounts and commingled funds. Our extensive experience encompasses all major property types including office, industrial, retail, and residential in addition to other niche property types.

 

Brief description:

The BlackRock Private Equity Real Estate team is sourcing an Investment Management Associate that will be responsible for acquisition, asset management, financing, and disposition activities within a specific geographic region. The Associate will support the asset management team in the San Francisco and Newport Beach offices. This position is responsible for analytics, reporting, and valuation updates associated primarily with the asset management function within a broader real estate equity Investment Management team.  The Associate may work on apartment, office, retail, industrial, or niche property types, supporting one or more investment management professionals, with primary responsibilities as outlined below. 

Responsibilities:

• Thorough initial deal review, ongoing asset management efforts, and quarterly formal reporting, the selected candidate will be required to:
• Update quarterly values using ARGUS or proprietary Excel models. 
• Review and abstract information from annual external property appraisals.
• Populate BlackRock’s proprietary database with valuation metrics 
• Produce detailed pro forma cash flow and investment return models using ARGUS and Excel
• Prepare quarterly property summaries including updates related to property leasing, operations, capital, and market conditions
• Assist in determining the short and long-term strategies for the assets, review the annual property-level financial budgets and prepare the annual written business plans
• Interact with third-party property managers and/or partners regarding day-to-day leasing and operational issues. Assist with communication to portfolio management, property management, JV partners, and leasing agents 
• Complete lease proposal analyses, including valuation impacts and tenant credit analyses, and assist with lease negotiations
• Review financial statements and interface with accounting regarding the review and approval of cash distributions and monthly capital funding requests
• Conduct return on cost analyses for capital projects, including renovation programs
• Perform in-depth market research, analyze market date, and track real estate market dynamics relevant to property performance
• Provide occasional support for acquisitions underwriting, due diligence, and/or dispositions, as needed
• Participate in special projects, as needed
• Travel may be required, as needed

Qualifications:

• The candidate must have a strong work ethic and the ability to manage several assignments at one time while interfacing with various groups within the overall Real Estate platform. 
• Undergraduate degree required.
• Must have demonstrated interest and/or experience in real estate (which may include real estate coursework or internship)
• Strong quantitative analytical skills, as well as written and verbal communication skills
• Must be inquisitive and detail-oriented, with strong organizational skills
• Experience with Argus and Excel preferred
• Must be able to effectively prioritize multiple tasks and have the willingness to take on additional responsibility 

 

For California only the salary range for this position is $115,000 - $180,000. Additionally, employees are eligible for an annual discretionary bonus, and benefits including heath care, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.

Our benefits

To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there