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Acquisitions / Asset Management

Senior Associate, Due Diligence Full Time NEW

Essex is looking for an organized and detail-oriented Senior Associate of Due Diligence. The candidate will be responsible for leading the transaction due diligence process from inception to close, performing deal underwriting, leading property inspections, coordinating due diligence deliverables from internal and external teams and presenting to Essex’s Senior Leadership Team. The candidate must be able to work independently, work on multiple deals and accurately and thoroughly complete tasks, including developing budgets and coordinating property management transitions.

WHAT YOU WILL DO:

  • Develop and maintain detailed financial models to support the underwriting of potential acquisitions, development, and structured finance transactions.
  • Coordinates and lead due diligence, underwriting and closing process, including documentation review and analysis of key findings, rent analyses, detailed budget preparation, document checklist calls, lease audits, warranty review and warranty transfer, assessment of capital, assessment of staffing, 3rd party report engagement and detailed review, and analysis of historical operating documents.
  • Ability to recognize key risks or non-standard components of a transaction through review of 3rd party reports, deliverables and through comprehensive review of assets.
  • Work closely with senior management and have extensive interaction with the real estate community, including sellers, developers, lenders, brokers and third-party vendors.
  • Travel to project sites and work with capital maintenance teams to evaluate asset conditions, including potential code violations and any necessary repairs or other major capital needs.
  • Lead and collaborate with cross-functional teams to conduct thorough due diligence including legal, financial, and physical aspects.
  • Lead the preparation of investment memoranda, presentations, and other materials for internal and external stakeholders.

WHAT YOU WILL NEED:

  • Bachelor’s degree (B.A./B.S.) from a four-year college or university in business administration, finance, economics, real estate or related field.
  • 5+ years of related experience in multi-family real estate due diligence, asset management, or in a financial analysis role.
  • Experience with the California or Washington multi-family real estate markets preferred.
  • Strong financial and analytical skills.
  • Ability to prioritize and manage a variety of tasks within a tight time schedule.
  • Strong communication skills, including an ability to compile written materials and present underwriting to Company leadership, as well as the ability to efficiently coordinate various teams across the Company.
  • Proficiency in Microsoft Office, Yardi, and Adobe.

WHAT THE JOB REQUIRES:

  • Operates in a fast-paced work setting. Requires the ability to multitask and adapt quickly to changing priorities. May involve tight deadlines and high-energy work situations.
  • The position includes in-person work requirements consistent with the hybrid policy located at Essex’s corporate offices in Woodland Hills or Irvine. The hybrid policy is subject to change at Essex’s sole discretion.
  • Requires the ability to sit or stand for extended periods. Minimal physical effort in the day-to-day tasks.
  • This role requires occasional travel throughout California and Washington state.

WHAT YOU WILL BRING TO THE TABLE:

  • No formal supervisory responsibilities in this position. Coordinates and assigns tasks to co-workers within a work unit and/or project team. Leads project teams and/or plans and supervises assignments of lower-level employees. May have responsibility for identifying training needs, tracking performance, coaching, and motivating a work unit and/or group.
  • Ability to respond effectively to sensitive issues. Ability to write reports, manuals, speeches and articles using distinctive style. Ability to make effective and persuasive presentations on complex topics to employees, clients and/or public groups. Ability to motivate and negotiate effectively with key employees and client groups to take desired action.
  • Ability to comprehend, analyze, and interpret real estate documents. Ability to solve problems involving several options in situations. Requires intermediate analytical and quantitative skills.
  • Decisions made with thorough understanding of procedures, company policies, and business practices to achieve general results and deadlines. Responsible for setting work unit and/or project deadlines.

Source: Essex Property Trust’s Career Page

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