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Associate - Development & Investment
CBRE
| JOB SUMMARY Oversees all aspects of the financial modeling/underwriting of prospective developments and acquisitions including preparation of Investment Committee (IC) approval packages, participation in presentation of opportunities to the IC, and completion of financial due diligence. Serves as asset manager for stabilized projects in business unit, responsible for preparing property operating and capital budgets and overseeing implementation of property business plans. Oversees or maintains asset management system (ELITE) data and information for business unit. ESSENTIAL DUTIES AND RESPONSIBILITIES * Accountable for all financial projections for prospective acquisitions and investments. * Collects, reviews, and verifies market information supporting assumptions used in financial projections, including (but not limited to) rent rates, vacancy rates, historic absorption rates, current and future competition, capitalization rates, development costs, and other local market data as necessary. * Ensures the smooth Investment Committee approval and subsequent closing and compliance with any conditions of that approval. * Serves as asset manager for leased properties in business unit portfolio, with responsibility for preparing property operating and capital budgets and overseeing implementation of property business plans. * Reviews and comments on all external consultants' due diligence reports, highlighting areas of concern. * Maintains interface with external clients and internal business units, ensuring fast response time for all prospective investments and potential third-party sponsors. * Other duties may be assigned. SUPERVISORY RESPONSIBILITIES No formal supervisory responsibilities in this position. Provides informal assistance such as technical guidance, and/or training to coworkers. May lead project teams and/or plan and supervise assignments of lower level employees. QUALIFICATIONS To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. EDUCATION and EXPERIENCE Bachelor's degree in business or equivalent from appropriate 4-year college program (Law degree or MBA preferred, but not required). Typically, at least 2-3 years' experience in commercial real estate with strong financial or marketing orientation, or equivalent combination of education and relevant experience. COMMUNICATION SKILLS Excellent written and verbal communication skills. Strong organizational and analytical skills. Ability to provide efficient, timely, reliable and courteous service to customers. Ability to effectively present information to internal and external constituencies. Ability to negotiate small and/or less complex leases. FINANCIAL KNOWLEDGE Requires advanced knowledge of financial and real estate terms and principles. Ability to calculate intermediate figures such as percentages, discounts, net present value, internal rate of return, and commissions. Conducts advanced financial analysis of prospective development and investment opportunities, and prospective tenant and contractor financial statements. REASONING ABILITY Ability to comprehend, analyze, and interpret complex documents, including leases, venture agreements, and loan documents. Ability to solve problems involving several options in situations. Requires advanced analytical and quantitative skills. SCOPE OF RESPONSIBILITY Decisions made with thorough understanding of procedures, company policies, and business practices to achieve general results and deadlines. Responsible for setting work unit and/or project deadlines. Errors in judgment may cause short-term impact to department. Trammell Crow Company (TCC ), founded in 1948, is one of the nation's leading developers and investors in commercial real estate. The Company has developed or acquired 2,700 buildings valued at nearly $65 billion and over 590 million square feet. As of June 30, 2020, TCC had $13.7 billion of projects in process and $6.1 billion in its pipeline. Trammell Crow Company's teams are dedicated to building value for its clients with professionals in 18 major cities throughout the United States and London. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services. TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world's largest commercial real estate services and investment firm (in terms of 2018 revenue). For more information visit www.TrammellCrow.com High Street Residential, a wholly-owned operating subsidiary of Trammell Crow Company, specializes in the development of multifamily housing. We have a deep background in urban, infill mixed-use residential development, as well as the redevelopment or repurposing of existing facilities. In the last 15 years, the firm has completed over $1.8 billion in projects with a current pipeline of nearly 3,100 units
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