About the Company: Pacific Urban Residential (‘PUR’) is an industry leading multi-family investment firm and pension fund manager. Headquartered in Northern California’s innovative Silicon Valley, PUR is focused exclusively on the multi-family rental space. The firm has successfully deployed well-timed strategies to the benefit of its institutional partners and stakeholders throughout the United States.
Since its inception in 1998, PUR has completed over $7 billion in apartment transactions on behalf of its own account and those of its strategic institutional partners. Today, PUR has six offices, with over seventy professionals and an owned apartment portfolio in excess of $5 billion.
Pacific Urban Residential is an affiliate of The Marcus and Millichap Companies. More information can be found at www.purapts.com.
Job Description: Pacific Urban Residential seeks a capable and skilled candidate to join our multi-family Asset Management Team as an Asset Management Analyst in our Palo Alto, CA office. This is an excellent opportunity for a high energy, motivated individual to learn and participate in high level portfolio analysis and decisions, as well as support Senior Asset Managers in hands-on, practical problem solving during the day-to-day operations in multi-states, while coordinating/managing third-party service providers. As such, this position offers the right individual an opportunity to gain broad exposure to the apartment industry at one of the most experienced and reputable real estate investment managers in the United States. This exposure provides the ability to explore complex and exciting interests within the firm, be an enthusiastic team player between departments, and as the organization grows, promote continued career growth through maximizing personal potential.
This position will report to the Director of Portfolio Management and will have responsibility to support individuals in the Value Add Asset Management group at Pacific Urban Residential.
Primary Duties and Responsibilities: Initially, this position will entail a wide variety of financially oriented duties associated with optimizing the financial and operating performance of a significant portfolio of apartment properties valued at over $1 billion. Secondarily, the position will require the candidate to assist senior team members in evaluating products and services in the multi-family industry for efficacy, reliability, and cost effectiveness, as well as engaging in a wide variety of tasks and projects directly associated with operating an actively managed portfolio.
A Successful Candidate Will:
Analyze rents, occupancies, budgets, and financials, while working closely with Asset Managers, Portfolio Management, and third party property managers to provide support and direction of business plans and forecasts.
Assemble and review property budgets, income statements and variance reports, as well as leases/rent roll analyses and other applicable information for portfolio and asset management review.
Participate in the creation of monthly, quarterly, and annual reporting for clients and senior management.
Conduct site visits to assist with monitoring property operations and renovation/capital projects.
Analyze and monitor capital budgets and prepare capital budget reforecasts/reallocations.
Assist with due diligence activities for property acquisitions and coordinate property information for dispositions.
Conduct a wide variety of detailed qualitative and numerically oriented assessments and analyses, and provide recommendations based on findings.
Please note the Asset Management Analyst may perform other duties as required.
Salary and annual bonus commensurate with skills and experience.
Employees are eligible to participate in Pacific Urban Residential’s package of benefits including health and life insurance options, 401(k) plan, etc.
PUR would like to thank you for applying; for efficiency in evaluating candidates, please provide information to the contact noted herein and do not contact staff members, directly.
Desired Education and/or Experience:
Undergraduate degree is required, preferably with a focus in Business, Real Estate, Finance, or other relevant area; a strong academic record required.
Prior experience in real estate investment is strongly preferred, but not required if the candidate possesses the right combination of ability, drive, relevant experience, and knowledge.
The ideal candidate must have outstanding personal, educational, and professional qualities with a demonstrated track record of growth and achievement.
Must possess excellent financial and analytical skills, including advanced knowledge of Microsoft Office suite, particularly MS Excel.
The candidate must be able to effectively multi-task while maintaining accuracy in the work product; attention to detail is required.
Must be a clear, concise writer and be comfortable speaking clearly and confidently to a wide variety of staff and executive team members in different functional areas and geographies.
Must want, and be able to, work independently, as well as in a fast paced, dynamic environment with multiple priorities and deadlines. It is essential to be self-disciplined and motivated.
The ideal candidate will demonstrate a commitment to real estate investing as a career, ideally with a particular interest in the multi-family rental space.
Marcus & Millichap Company ('MMC') is a privately held organization, based in Palo Alto, California, with a diverse family of operating companies under its umbrella. Each MMC company is a distinct fusion of real estate specialization and innovation powered by a culture of loyalty that permeates throughout. MMC’s operating companies are in the real estate service, real estate investment and real estate development spaces. Our companies have revolutionized numerous real estate practices and set the standard of success as a result of an unwavering focus on long-term, sustainable growth, as well as a unique blending of entrepreneurial drive with institutional discipline.
Our Operating Companies:
- Hanover Real Estate Investors: Our niche is providing joint venture equity capital to local and national developers and operators of real estate to facilitate the acquisition, reposition and/or development of multi-family and single tenant properties.
- MMC Technology Ventures (‘MMCT’): We primarily invest in post-Series A rounds, and we are committed to helping early-stage companies grow through utilizing their products internally and introducing entrepreneurs to MMCT’s vast network ...of real estate professionals.
- Meridian: We are a full-service commercial developer and provider of real estate services. Our team of experienced and talented real estate professionals provide comprehensive commercial building solutions and leads the way in the development of modern building facilities.
- Pacific Urban Residential (‘PUR’): We are an industry leading multi-family investment firm and pension fund manager. We are focused exclusively on the multi-family rental space.
- SummerHill Apartment Communities: We are a developer of multi-family and mixed-use residential projects, specializing in development of the greater San Francisco Bay Area.
- SummerHill Homes: We are a specialty builder of mid-to high-end residential homes in superior settings throughout San Francisco Bay Area focusing on in-fill development locations. We are nationally recognized for our expertise in customizing development plans to accommodate the unique characteristics of a given development site.