Chicago, IL, United States
Job ID 2019-1367
Category Asset Mgmt / Portfolio Mgmt
The Associate - Valuations & Portfolio Management position reports to the Vice President of the Valuations and Portfolio Management Department and is responsible for supporting asset valuation models and valuation reviews, portfolio analytics and property-level performance reporting processes.
As the Associate - Valuations & Portfolio Management, one is held accountable to, however not limited to, the following job functions:
- Support the preparation of monthly and/or quarterly property valuation models and portfolio analytics for various asset classes.
- Review third-party reports, loan documents, commission appraisals, market studies and other pertinent real estate documents with the goal of abstracting relevant and actionable data for valuations.
- Support the monthly and/or quarterly valuation advisor process.
- Provide analytical and valuation support for property investments, including preparing leasing, operating, capital and financing analyses.
- Effectively obtain property information from various source systems (MRI, Yardi, etc.) and build data quality mechanisms to ensure integrity of information.
- Work with portfolio companies to maintain a portfolio of Argus files keeping the data current by proactively sourcing periodic updates for newly executed leases, changes in market leasing assumptions, and adjustments to other income, operating expenses and capital expenditures.
- Manage and maintain robust excel based cash flow models populated by Argus models and/or other data sources.
- Build and maintain effective control processes to monitor and track changes in the assumptions of valuation models.
- Provide portfolio analytics summaries and property-level performance reporting to Blackstone and portfolio company management teams.
- Prepare presentations and investment summaries for Blackstone, Revantage and portfolio company management teams.
- Gather and report on market intelligence including recent sales data and prevailing market conditions.
- Provide management reporting for pertinent financial details and support for assumptions contained in valuation models.
- Support activities related to obtaining external 3 rd party asset appraisal values; provide required materials to appraisers and review appraisal outcomes and underlying assumptions.
- Support the valuation model process with Blackstone stakeholders and revise valuation model based on feedback.
- Coordinate with and support the Blackstone team in its work with its auditor to respond to questions and provide supporting documentation.
- Perform other duties as requested.
- Bachelor's degree in accounting, finance or a business-related field and 3+ years of real estate valuation or underwriting experience.
- Strong computer skills.
- Argus Enterprise experience.
- Experience with real estate accounting and/or management systems preferred, particularly with Excel-based Oracle Essbase/PBCS, general ledger accounting systems, and Microsoft Word/Excel/PowerPoint.
- Excellent communication, problem solving and interpersonal skills necessary.
- Must be a motivated self-starter with strong team leadership and problem-solving skills, the aptitude to think independently, and the motivation to work with a team in a rapidly changing environment.
- A strong work ethic and desire to thrive in a dynamic and demanding work environment.
- Ability to multi-task and manage shifting priorities and deadlines, with attention to detail and an ability to work both independently and in a team environment.
- Travel required (including to New York City).
Revantage Corporate Services is a newly-formed company affiliated with Blackstone created to provide shared services to Blackstone and its real estate portfolio companies. Revantage provides Valuations and Portfolio Management Support, Accounting, Tax, Treasury, Risk Management, Legal, Human Resources and Technology services. In addition to working closely with Blackstone, Revantage supports Blackstone's real estate portfolios across multifamily (LivCor), commercial office (EQ Office), retail (ShopCore), hospitality (BRE Hotels and Resorts), industrial (Gateway) and senior living (Longview).
Location: Chicago, Illinois, US
Posted Date: 3/11/2019
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Revantage Corporate Services