Real Estate Associate (Finance)

Position Summary

Rice Real Estate Company is looking to add a Real Estate Associate to our team in Houston, TX. The Associate will be a key member of the team and play an integral role. This role will be responsible for supporting the Real Estate team in monitoring and analyzing the financial performance of our real estate assets, including office and retail properties. The ideal candidate will have a strong understanding of real estate financial modeling for operating and development assets, market analysis, and expert knowledge of Argus and Excel. They will be tasked with conducting in-depth financial analysis, creating investment reports, and contributing to the development and execution of strategies aimed at optimizing asset value and maximizing returns for the Rice University. A successful Associate will have an ownership mentality, strong quantitative and qualitative skills, and a desire to support the mission-driven work of Rice University.

About the Real Estate Portfolio

The approximately $600 million real estate portfolio consists of strategic real estate in Houston including:

• Rice Village - The 22-acre urban shopping district immediately adjacent to Rice University. This investment has 210k sq. ft of retail that includes some of the nation's most recognized retail brands and some of Houston's most exciting first-to-market stores and restaurants. The Village includes 13 acres of near-term development opportunities building upon its established character.
• The Ion District - A currently-under-development 15 acre mixed-use innovation district in Midtown Houston with over $1B in future investments in new commercial office, apartment and research buildings. The District includes The Ion, a state of the art innovation hub that opened in 2021 and houses startups, leading technology companies, and programming to grow Houston's innovation ecosystem.

Workplace Requirements

This position is in person at the Rice Village location or the Ion District in Midtown of Houston, TX. Per Rice policy 440 , work arrangements may be subject to change

This is a full-time, benefits-eligible position, and the salary will be commensurate with experience and qualifications. *Exempt (salaried) positions under FLSA are not eligible for overtime.

Minimum Requirements

• Bachelor's degree in finance or real estate from an accredited university
• Four or more years of experience in an analytically rigorous real estate or finance environment
• Skills
  • Passion for real estate and desire to build a career on the principal side
  • Strong analytical and problem-solving skills with advanced financial modeling ability
  • Demonstrates quantitative skills and aptitude
  • Strong academic background
  • Intermediate to advanced skills in Microsoft Excel, PPT and Argus
  • Excellent analytical and problem-solving skills with a keen attention to detail
  • Self-starter with the ability to work independently with minimal supervision and collaboratively on a team
  • Attention to detail under time pressure and ability to multi-task

Preferences

• MBA a plus
• Experience with various types of commercial real estate including, office, retail, multi-family and hospitality

Essential Functions

• Creates and manages detailed and dynamic financial underwriting models for development and asset management activities, including cash flow projections, budget variance analysis, and investment performance metrics.
• Assists in the preparation of investment memos, presentation materials, various reports and dashboards.
• Tracks the financial performance of properties, including revenue, operating expenses, and capital expenditures.
• Conducts research on best practices, investment strategies, and other relevant topics such as trends in rental rates, occupancy, and property values.
• Collaborates with Senior Asset Managers to develop and monitor asset-level budgets and forecasts.
• Assists with business plans, including property upgrades, leasing strategies, and cost-reduction initiatives.
• Tracks performance against budgets and make recommendations for corrective actions if needed.
• Supports the development team in underwriting deals and reviewing operational reports, property forecast, proformas, and Argus cash flows for accuracy and provide variance analysis.
• Assists in management of 3rd party vendors and brokers, lease renewals, negotiations, and tenant relations.
• Works with the property management and operations teams to implement asset strategies, resolve operational issues, and ensure alignment with overall portfolio goals.
• Participates in the due diligence process for new acquisitions and dispositions by preparing financial models and supporting materials.
• Reviews and prepares internal and external asset valuations.
• Assists with annual property valuations and audits.
• Updates and maintains Argus models.
• Assists with portfolio and strategic analysis.
• Assists with ad hoc projects.
• Performs all other duties as assigned

Rice University HR | Benefits: https://knowledgecafe.rice.edu/benefits

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Rice University is an Equal Opportunity Employer committed to diversity at all levels and considers for employment qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national or ethnic origin, genetic information, disability, or protected veteran status.

Rice University is committed to ensuring Equal Employment Opportunity and the full inclusion of all qualified persons in the workplace. This commitment includes providing reasonable accommodations to persons with disabilities. For applicants with disabilities who require a reasonable accommodation for any part of the application or hiring process, please contact Rice University's Disability Resource Center at 713-348-5841 or adarice@rice.edu for support.