Associate, Equity Investments & Asset Management

Company Overview

Berkshire Residential Investments is a people-first real estate investment company who values not only the impact we make as a company, but the time we spend together in our high-performing teams. We value individual skills and perspectives to allow us to best serve our employees, investors, residents, and other stakeholders.

If you’re interested in a workplace where everyone feels empowered to bring their full, authentic selves to work each day, come join our talented and growing team at Berkshire Residential Investments. Our environment of entrepreneurial spirit, culture of expertise and our people-first approach will allow you to thrive while continuing to grow in your career.

Position Summary

The Associate, Equity Investments & Asset Management will assist and support the Senior level acquisition and asset management team members (SVP/VP/AVP) in the Western Region in overseeing, sourcing, underwriting, due diligence, and closing core, core plus, and value add multifamily property acquisitions, debt investments, and equity joint venture investments for development, with the primary goals of researching, analyzing and underwriting prospective investments to ensure outperformance against proforma and coordinating and processing due diligence in a timely and responsive manner. The Associate will also support a senior level asset manager on the oversight, performance, and management of investments in a portfolio of multifamily assets located in multiple markets throughout the Western U.S. Provide direction and leadership to analyst(s). This position will work collaboratively in a team environment with third parties and all facets of the Company including members of the Portfolio Management, Accounting, Property Management, Capital Markets, Financing, Valuation, Research and Legal teams.

Responsibilities include, but are not limited to

Thoroughly and accurately underwrite potential multifamily investments

Shop comparable properties to determine competitive amenities, rents and sales prices, maintain sales comp database

Assist in conducting due diligence on properties targeted for acquisition

Develop and apply quantitative models to deals under consideration

Develop capital budgets reflecting cost of renovations, rehabilitations and upgrades to properties to drive economic value

Analyze market dynamics and operating history of asset to determine reasonable and vetted underwriting assumptions

Communicate with brokers, agents and principals to complete research and validate underwriting assumptions

Compose written summaries and memorandums regarding potential acquisitions for Investment Committee and for external clients, if applicable

Track and update pipeline status across geographic markets, and maintain critical timelines for transactions under review

Consistently demonstrate use of tact and discretion

Prepare the execution of Property Business Plans to optimize investment performance

Participate in property-level decisions with the Portfolio Managers based on careful analysis and team input, including hold/sell, rent pricing, property budgets, and capital expenditures

Develop, maintain, update and analyze comprehensive financial models, integrating both historical and current and proforma information; work closely with various levels of the organization to effectively identify and address business issues through models and presentations, and prepare for ad hock and regular meetings

Perform asset level valuation reviews including property performance and capital deployment effectiveness

Prepare financial models and property reporting packages

Visit markets and properties to validate business plan assumptions, monitor property operations, and identify opportunities and issues to improve operations

Stay informed on market information and work closely with Berkshire’s Research team to stay abreast of their viewpoint and recommended course of action for each market they cover

Knowledge/Experience

3+ years real estate financial analysis experience, ideally in multifamily real estate investments, asset management, investment sales, or appraisal

Experience in building complex cash flow models using Excel or Excel based tools

Ability to present thoughts, questions, content, and conclusions to senior management

Ability to produce excellent quality work that is thorough, accurate, complete, consistent, and able to get information when requested

Has excellent communication skills; written and verbal

Works independently and with others; has complete ownership of work and projects

Excellent problem solving and interpersonal skills

Aptitude for organizing, prioritizing, and managing multiple priorities, using critical thinking and problem solving

Understanding economic indicators as they relate to valuing multifamily real estate

Ability to apply historical trends to current conditions to anticipate post-acquisition property performance

Knowledge of key financial concepts and metrics as they relate to the multifamily real estate industry, including capitalization rates, internal rates of return, cash-on-cash returns, and others

Ability to recognize value creation potential and to create analysis resulting in approval of deals by investment committee

Knowledge of all multifamily product types

Tenacity, patience, and perseverance to take deals from start to finish

Demonstrated multi-modal communication style that reaches every stakeholder, specifically excellent verbal, and written communications

Collaborative working style with inclusive work and thinking behaviors, commitment to excellence in teams and work product, with a strong work ethic

Proficiency and willingness to adopt new systems and processes

Demonstrate emotional intelligence in high pressure and sensitive situations

Ability to see, analyze and understand business dealings in terms of the overall business plan

Maintain confidentiality of sensitive information and communications of information

Develop productive working relationships with all team members including internal clients and external third parties

Demonstrated high level of ethics and integrity with a straightforward and honest approach

Technical/Educational Requirements

Bachelor’s Degree, preferably with an emphasis in Economics or Finance, or equivalent professional experience/training

Demonstrated ability to use and learn new technology (e.g., computers/hardware, mobile, software, cloud-based programs)

Proficiency with computers, keyboards, monitors and telephone headsets.

Proficiency in Microsoft Suite of Products (e.g., Word, Outlook, Excel, Teams, Power Point), and 3rd party data sources such as RCA, Real Page / Axio, RedIQ

Berkshire Residential offers an excellent benefits package , focusing on our employees’ total health and wellness. We offer programs and incentives that promote physical, mental, financial, and behavioral wellbeing both within and beyond our workplace. Current anticipated annual base salary range: $125,000 - $150,000. Base salary within the range will be determined by various factors including but not limited to the individual's experience, skills and qualifications. Please visit our Careers page for full details – and to learn more about how we value our employees.

We believe

Berkshire Residential values diversity, equity, inclusion and belonging . Berkshire is committed to providing equal opportunity in all practices, including employees and applicants for employment. We ensure that decisions affecting employees are made without regard to their race, color, creed, national origin, age, disability, gender, gender identity, sexual orientation, or any other protected status.