Portfolio Management Associate

Stockbridge Capital Group

(San Francisco, California)

Full Time

Job Posting Details

About Stockbridge Capital Group

Stockbridge is a fully independent real estate investment firm. The Firm's portfolio is comprised of assets across the investment risk spectrum, including core, value-added and opportunistic strategies.

Summary

The Associate will work closely with the Portfolio and Asset Management Teams for Stockbridge’s Value Funds and occasionally with the Acquisition Team. This is both a qualitative and quantitative position, strong math and written skills are necessary. Industrial, office, residential and retail property types will be analyzed and monitored.

Responsibilities

* Prepare and update financial models in Excel and/or Argus for existing assets and portfolios including (1) analysis of leasing, financing, budgeting, joint venture and hold/sell decisions and (2) internal rate of returns, time-weighted returns, sensitivity tables, property valuations, cash-on-cash returns and various other return metrics. Assist in preparation and review of asset-level annual budgets and portfolio-level annual strategic business plans for clients.
* Prepare preliminary internal asset valuations, using a discounted cash flow and/or direct capitalization approach, for Investment Committee review and participate in internal quarterly valuation meetings. This may include quarterly equity valuations for the Fund’s joint ventures to ensure accounting is accurately reflecting asset’s fair market value. This requires knowledge of joint venture waterfall calculations in Excel.
* Coordinate quarterly asset appraisal process with third party appraisers, review quarterly appraisals for accuracy and provide feedback to appraiser.
* Prepare quarterly portfolio-level client reports including review and understanding of rent rolls, leasing, returns, operating statements, legal matters and capital expenditures.
* Review and analyze quarterly operating performance of owned assets and report to portfolio and asset management of major income or expense variances.
* Interface with leasing/sales brokers, property managers, portfolio analysts, lenders, operations/accounting teams, legal counsel, clients and other market contacts to obtain information pertinent to existing assets as well as pursuit and disposition efforts.
* Work with the Accounting Team to ensure that operating results and other reporting requirements are completed accurately and on time by operating partners.
* Regularly update Fund diversifications metrics including geographical, property type, loan-to-value and lease roll-over to ensure potential acquisitions fit well into the overall fund strategy.
* Track and report the Fund’s sources and uses of cash including new capital commitments, new acquisitions as well as proceeds from potential financings and sales.
* Review quarterly benchmark reports (IPD & ODCE) to ensure Fund data is accurately reflected and reported.
* Work with the Fund’s legal team to update the funds offering materials as new acquisitions and dispositions take place.

Prepare and update financial models in Excel and/or Argus for existing assets and portfolios including (1) analysis of leasing, financing, budgeting, joint venture and hold/sell decisions and (2) internal rate of returns, time-weighted returns, sensitivity tables, property valuations, cash-on-cash returns and various other return metrics. Assist in preparation and review of asset-level annual budgets and portfolio-level annual strategic business plans for clients.
Prepare preliminary internal asset valuations, using a discounted cash flow and/or direct capitalization approach, for Investment Committee review and participate in internal quarterly valuation meetings. This may include quarterly equity valuations for the Fund’s joint ventures to ensure accounting is accurately reflecting asset’s fair market value. This requires knowledge of joint venture waterfall calculations in Excel.
Coordinate quarterly asset appraisal process with third party appraisers, review quarterly appraisals for accuracy and provide feedback to appraiser.
Prepare quarterly portfolio-level client reports including review and understanding of rent rolls, leasing, returns, operating statements, legal matters and capital expenditures.
Review and analyze quarterly operating performance of owned assets and report to portfolio and asset management of major income or expense variances.
Interface with leasing/sales brokers, property managers, portfolio analysts, lenders, operations/accounting teams, legal counsel, clients and other market contacts to obtain information pertinent to existing assets as well as pursuit and disposition efforts.
Work with the Accounting Team to ensure that operating results and other reporting requirements are completed accurately and on time by operating partners.
Regularly update Fund diversifications metrics including geographical, property type, loan-to-value and lease roll-over to ensure potential acquisitions fit well into the overall fund strategy.
Track and report the Fund’s sources and uses of cash including new capital commitments, new acquisitions as well as proceeds from potential financings and sales.
Review quarterly benchmark reports (IPD & ODCE) to ensure Fund data is accurately reflected and reported.
Work with the Fund’s legal team to update the funds offering materials as new acquisitions and dispositions take place.

Ideal Candidate

* All candidates must have a BA or BS degree from an accredited institution, preferably in real estate, finance, business, accounting, economics or related area. Must have strong academic credentials.
* Candidates must have three to five years of real estate investment or finance experience.
* Strong working knowledge of Argus, Microsoft Excel, PowerPoint and Word.
* Demonstrated knowledge of financial modeling and mastery of finance concepts such as NOI returns, cash flow returns, internal rate of return, time-weighted returns and present value/ discounted cash flows, joint venture promotes and equity valuations.
* Comprehension of real estate terms and concepts such as net/gross leases, contracts, rents/percentage rents, operating expenses, capital expenditures, recovery of expenses and property types.
* Strong writing skills as well as verbal interpersonal/communication skills.
* Organizational skills and attention to detail, with the ability to prioritize and manage multiple projects simultaneously.
* Ability to function both in a team-oriented setting and independently.
* Strong sense of personal motivation, responsibility, and entrepreneurship.

All candidates must have a BA or BS degree from an accredited institution, preferably in real estate, finance, business, accounting, economics or related area. Must have strong academic credentials.
Candidates must have three to five years of real estate investment or finance experience.
Strong working knowledge of Argus, Microsoft Excel, PowerPoint and Word.
Demonstrated knowledge of financial modeling and mastery of finance concepts such as NOI returns, cash flow returns, internal rate of return, time-weighted returns and present value/ discounted cash flows, joint venture promotes and equity valuations.
Comprehension of real estate terms and concepts such as net/gross leases, contracts, rents/percentage rents, operating expenses, capital expenditures, recovery of expenses and property types.
Strong writing skills as well as verbal interpersonal/communication skills.
Organizational skills and attention to detail, with the ability to prioritize and manage multiple projects simultaneously.
Ability to function both in a team-oriented setting and independently.
Strong sense of personal motivation, responsibility, and entrepreneurship.

Compensation and Working Conditions