Tuesday, December 8, 2020

Endurance is hiring an Acquisitions and Asset Management Analyst/Associate

For More Information


Endurance Real Estate Group, LLC is looking to hire an Acquisitions and Asset Management Analyst / Associate. Primary responsibilities will be split between asset managing portions of Endurance’s over 3.8 million square foot industrial portfolio and underwriting new development deals and acquisitions.

Key Acquisition and Development responsibilities include:
• Perform financial analysis of prospective acquisitions and development projects using Excel and Argus software
• Assist in the preparation of critical narrative reports, investment narratives, debt request packages and private placement memorandums
• Collection, coordination and analysis of due diligence materials for new acquisitions

Key Asset Management responsibilities include:
• Working with outside leasing brokers to assist in responding to leasing proposals
• Assisting in the preparation of marketing collateral
• Interacting with lenders, equity partners and vendors
• Assisting the senior members of the Endurance asset management team in development and construction projects within the portfolio

The level of responsibility and autonomy initially will vary based on a candidate’s experience level. Candidates should have at least 1-4 years of relevant commercial real estate experience. The candidate will work directly with key company personnel in all aspects of asset acquisitions, asset management, refinancings, and dispositions.

Company Overview
Endurance Real Estate Group, LLC (www.endurance-re.com), formed in 2002, is a Radnor, Pennsylvania-based real estate owner/developer focused on income and value add industrial opportunities located in the Mid-Atlantic region. Since its formation, the company has acquired and developed over $800 million of assets totaling over 14.5 million SF and sold over 9.7 million SF with a combined value of $680 million. Endurance currently owns and operates a portfolio totaling over 3.8 million square feet consisting of 45 buildings. Existing space includes 3.1 million square feet of industrial and 700,000 square feet of flex/office space. Endurance is currently developing over 1 million SF of distribution buildings across several projects in varying building sizes from 71,000 SF up to 352,000 SF. To learn more visit www.endurance-re.com or follow @EnduranceREGrp on Twitter and Endurance LinkedIn.

Full List of Duties and Responsibilities of Ideal Candidate.

Acquisitions and Development
• Monitor, maintain, and review acquisition transaction pipeline
• Underwrite and model cash flows using Excel and Argus for potential acquisitions including joint venture equity structuring. Evaluate return metrics (such as IRR’s, equity multiple, cash-on-cash return).
• Analyze markets (lease and sales comps, broker reports and statistics), location, demographics of properties to confirm underwriting assumptions
• Assist in the sourcing of investment opportunities in targeted markets by becoming an expert in local market knowledge and sustaining relationships with brokers
• Develop a strong understanding of the real estate markets and communities in each of the target markets and property types, including trends (both real estate and general economic), activities, developments, significant transactions and major players
• Participate in the drafting of letters of intent and other documents
• Perform financial due diligence once a property is under contract, including assisting in audits and lease abstracting to verify pro-forma assumptions
• Coordinate physical inspections, review of survey, title, environmental and other third-party diligence reports
• Assist in the creation of financial packages for debt providers and deal write-ups
• Maintain deal and market information files
• Ad-hoc projects for senior management
• Meet with senior management to coordinate the transition of newly acquired properties to the asset management, property management and accounting groups
• Occasional property tours and travel as needed

Asset Management
• Work on initial leasing and marketing strategies and continuously work with all third party brokers on the marketing of vacant space.
• Assist in the companies PR, advertising and overall marketing efforts.
• Assist the asset management team with the negotiation of leases as appropriate with brokers, landlord attorneys, and potential tenants. Engage architects for space plans, as-built as needed, and construction drawings needed for tenant improvements
• Financial analysis related to buy vs. hold decisions, and underwriting related to leasing proposals
• Create and update property level ARGUS and Excel models and review property budgets.
• Provide lease analysis for review including net effective rent comparisons and net present value comparisons based on a variety of leases and terms
• Be a strong team player willing to participate in ad hoc projects within asset management and other departments
• Asset Management Financial Oversight:
• Review monthly balance sheets and income statements and variance reports.
• Ensure that properties are performing as budgeted. Produce plans to improve financial performance.
• Participate in the annual budgeting process in conjunction with the asset management team.

Other Skills Required
• Applicant must be a detail-oriented person with excellent analytical skills and ideally be proficient with financial modeling in Excel and due diligence skills.
• Applicants should be technologically savvy, and able to navigate multiple projects at once, with great research skills
• Bachelor’s degree required with a major in Finance, Real Estate, Accounting, or Engineering preferred
• Candidate should ideally have at least 1-4 years of work experience in commercial real estate or related fields
• Working knowledge of engineering and architectural plans, preferred
• Team player, with exceptional communication and organizational skills and eager to work in a fast-paced entrepreneurial environment
• Excellent networking skills and interpersonal skills
• Computer skills with Excel, Word, Outlook. Argus experience preferred but not required.
• Ability to multi-task several projects across multiple properties
• Self-starter with the ability to manage competing and often unanticipated deadlines.

Compensation commensurate with experience. Endurance offers an excellent benefits package including vacation and sick pay, matching simple IRA, business casual work environment, and medical benefits. Endurance provides for a flexible work environment and with the current pandemic situation will provide for remote work functionality combined with in person.

To be considered for this career opportunity, please send resume and cover letter to resumes@endurance-re.com.