Associate, Real Estate

POSITION SUMMARY

The Associate, Real Estate is a key member of the Asset Management group at Trinity Church, which manages a prime commercial real estate portfolio in Manhattan. The Associate conceptualizes and develops business plans, financial models, and presentations to support individual transactions and the overall portfolio with a primary focus on large-scale leasing transactions, asset repositioning, financing, recapitalizations, and development.

Trinity Church owns, operates, and manages a diversified portfolio of real estate within its endowment, spanning over 7.5 million square feet and featuring a world-class tenant roster. Properties include Class A commercial buildings, ground leases, and development sites, along with other diversified assets. Trinity places significant value on Stewardship and placemaking within its portfolio, which enables Trinity’s properties to compete for the best tenants. The majority of Trinity’s commercial portfolio is in a joint venture with Norges Investment Management (“Norges”) and Hines.

The annual salary range for this position is $131,400 to $147,200.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Support the Asset Management and leasing team in all facets of owning, operating, managing, and optimizing one of the premier commercial real estate portfolios in New York. Duties include, but are not limited to the following:

• Extensive financial modeling of pro-forma cash flows, investment return analyses and lease evaluation to facilitate strategic decision-making at the portfolio and organizational levels. Many leases comprise full buildings and require complex scenario analysis.
• Work closely with Norges and Hines as well as other external resources in the management and operations of the real estate portfolio, including executing on the strategic priorities of Trinity and the Joint Venture, managing a leasing program, delivering the highest quality property management and pursuing redevelopment and capital upgrade opportunities with accountability for coordinating all activities impacting asset performance.
• Oversee the lease execution process from start-to-finish, from LOI to lease signing. Track and model all document negotiations.
• Perform rigorous tenant credit analysis including review of financial and qualitative information and independent research.
• Perform transaction management duties where appropriate, such as overseeing external parties, advisers, and consultants. Ensure timely completion of transaction matters.
• Support closing and management of potential financing and recapitalization transactions.
• Formulate investment memos and business plans based on analysis and due diligence.
• Prepare presentation materials and reports to inform and support decision-making at the joint venture and organizational level, including presenting to Trinity’s Real Estate Sub-committee.
• Research and summarize local real estate market surveys and capital markets overviews.
• Order, coordinate, analyze and summarize third-party reports.
• Interface with Trinity’s senior leadership as well as Trinity’s venture partners, counterparties, brokers, property managers, and advisors.
• Adhere to confidentiality rules and all other Trinity policies, procedures, and rules.
• Perform all duties in a manner that promote Trinity’s mission and core values.
• Assume other related responsibilities and special projects as required.

REQUIRED KNOWLEDGE, SKILLS, AND ACTIVITIES

• Experience with office and mixed-use properties
• Strong quantitative, financial, and analytical skills including a forensic level of attention to detail to carefully model, review, proofread analyses and related output for accuracy
• Resourceful in research and creative in problem solving
• Proficient in modelling complex financial structures in Excel and ARGUS Enterprise (ARGUS Developer a plus)
• Solid grasp of finance concepts (i.e., IRR, NPV, FV, PV, ROI, ROC)
• Understanding of real estate valuation concepts (i.e., Cap Rates, Basis and Price per SF)
• Understanding of commercial real estate leases and operations (i.e., gross, net, escalations)
• Basic understanding of Zoning and Land Use terms
• Knowledge of commercial mortgage financing (i.e., DCR, LTV, Spreads, Loan Constants)
• Knowledge of corporate credit analysis and credit ratings
• Strong oral and written communication skills
• Highly organized
• Thrives under demanding time constraints and deadlines
• Self-confident, results-oriented with a superior service mentality and excellent listening skills
• Team-oriented and collaborative
• Project-oriented and able to anticipate challenges and questions
• Able to set priorities and self-manage with minimal supervision
• Comfortable multi-tasking
• Desire to be involved with a broad range of real estate transactions and interface directly with senior transaction professionals in a values-based mission-focused and fast-paced organization.

REQUIRED AND PREFERRED EDUCATION, EXPERIENCE, AND CREDENTIALS

• 2-5 years of commercial real estate property investment analysis experience, as well as asset/property management and leasing experience.
• Bachelor’s degree; MBA or Master’s in Real Estate ideal.
• Software skills (ARGUS, Excel, PowerPoint, Word, Outlook, Google Docs).

Salary : $131,400 - $147,200