Description
About Penwood Real Estate Investment Management, LLC
Penwood is a Registered Investment Adviser formed in 2003 and based in West Hartford, CT. Penwood is an entrepreneurial real estate investment advisory group focused on the institutional investor market. Penwood provides a national real estate perspective, disciplined management process and experienced investment management. Penwood is currently focused on value-added development, redevelopment/rehabilitation and income-producing industrial investments in major seaport markets. Penwood is an Equal Opportunity/Affirmative Action Employer and is committed to diversity in its workforce.
We are currently seeking a Senior Real Estate Asset Manager to join our Connecticut headquarters location to manage industrial real estate investments located in Southern California and Northern New Jersey.
Characteristics of the Candidate:
The candidate should be self-motivated, organized, analytical, pre-emptive, versatile, and thrive in a fast-paced and dynamic environment.
Responsibilities:
The Senior Real Estate Asset Manager will work with the company’s principals and be primarily responsible for supporting activities related to the company’s ongoing management and analysis of assets under management. The primary responsibilities include:
• Conduct site visits to ascertain economic, demographic and comparable information for valuations and prospective investment opportunities.
• Conduct market research to establish and verify the assumptions in the financial models.
• Create cash flow models using Excel spreadsheets and Argus Enterprise to calculate expected rates of return.
• Oversee ground-up construction projects with joint venture partners and approve monthly draw requests.
• Analyze leasing and investment sale opportunities and preparation of hold/sell recommendations.
• Effectively negotiate leases and purchase & sale contracts within Penwood guidelines.
• Complete quarterly valuation and reporting process for assigned assets.
• Manage the annual budget planning process and regularly monitor expenditures.
• Compile and maintain databases on economic, demographic and comparable leasing/sale trends for the company’s investment markets.
• Maintain and upgrade (as necessary) the company’s financial analysis models and spreadsheets.
• Prepare internal briefs and present recommendations to investment committee for approval.
• Establish and grow relationships with brokerage community, partners, consultants and key vendors.
Required Skills:
• Bachelors Degree with focus in finance, economics or real estate.
• Minimum 5 years of relevant asset management experience.
• High level of competence required in financial modeling utilizing ARGUS Enterprise and Excel software.
• Proficiency in computer applications skills including working knowledge of Microsoft Word and PowerPoint
• Excellent written and verbal communication skills.
• Very strong organizational, analytical and problem-solving skills.
• Ability to work seamlessly on multiple projects and tasks.
• Team oriented and willingness to perform tasks outside his or her job description.
• The ability to meet deadlines.
• Self-motivated and energetic.
• A strong desire to work in real estate.
Compensation: Penwood offers a competitive base salary with bonus based on the candidate’s experience and capabilities. All employees are offered a comprehensive benefits plan including a 401(k) retirement plan with a company match, medical and dental benefits, short and long term disability, paid sick time, maternity and paternity leave, vacation, and personal days off.
Any applicant selected for this position will be required to submit to an extensive background screening, drug screening and a credit check. Failure to comply will eliminate an applicant from consideration for this position. Any negative information obtained as a result of the background screening may result in the disqualification of the applicant from this and any other position in Penwood. All candidates must be authorized to work in the United States.
This job is no longer active.