Associate, Asset Management

This role is onsite at our Midtown office 5 days a week during general business hours.

Company Summary

In 2024, EQ Office ("EQ") and ShopCore Properties ("ShopCore") merged to create a best-in-class, diversified real estate operating platform focused on office and retail assets. As a Blackstone operating company, the combined organization supports a team of over 200 office and retail professionals with expertise across acquisitions, asset management, leasing, development, and property management. EQ operates approximately 15 million square feet of commercial office space, and ShopCore operates 9 million square feet of open-air retail centers. Both portfolios span 22 major U.S. markets including Atlanta, Boston, Chicago, Los Angeles, New York, San Francisco, and Seattle.

The combined Company fosters a collaborative culture built on the principle of OneTeam. This means individuals work together across teams, functions and time zones to achieve shared goals. OneTeam is the desire to be part of something bigger than yourself – and striving to find greater purpose. The Company creates a more innovative and fulfilling environment by sharing best practices, with a focus on driving a positive impact for employees, customers and communities.

Role Summary

Associate on the Asset Management team will provide analytical support to regional and sub-regional teams charged with maximizing property values through operations (leasing, capital, development & redevelopment) and capital markets (financings, dispositions, etc.). These teams vary in location to cover the United States coast-to-coast, with hubs in markets such as New York, Philadelphia, Chicago, San Diego, Los Angeles, etc. all the while exploring new markets. The role will initially be allocated to the East Region retail sector, with exposure to the office sector and potential to work on both retail and office as the portfolio evolves.

Major responsibilities include constructing and validating all cash flow assumptions utilized in projections; creating business plans that align with property visions and financial objectives; material lease analyses; modeling, due diligence and closing of dispositions; and evaluating investment returns, asset sales timing, and values.

The ideal candidate will bring a combination of strategic thinking, financial acumen, and operational expertise to drive value creation within EQ/ShopCore’s existing portfolio and on supporting new acquisitions. Although allocated regionally, the role functions as an integral part of one team with national coverage.

Essential Job Functions

Business Planning – Create and maintain business plans and budgets that are aligned with the property vision, organizational values, business objectives, and operating plans to grow asset value.

Financial Goals – Act as strategic and analytical leader on all financial matters related to the success of the portfolio and assets in the market. Ask critical questions and challenge assumptions.

Actively Monitor Performance - Maintain updated property Argus models that capture the projected financial performance of each asset as supported by an intimate knowledge of property level operations, local markets, and other nuances that are specific to each investment. Track and analyze property level financials and key operating metrics to meet or exceed budgeted NOI and targeted returns on invested capital across the portfolio.

Strategic Financial Analysis – Drive efforts to coordinate strategic analyses as directed by EQ/Shopcore and Blackstone leadership, including hold/sell analysis, repositioning analysis, major lease analysis, and contribution/funding requests. Conduct financial analyses and prepare investment memorandums to support new lease deals, capital projects and other investment processes.

Investment Analyses – Evaluate total investment return, leverage strategies, cash flow forecasting, asset sales timing and values, and distribution forecasting. Collaborate with asset team on developing assumptions, communicating market developments, and assisting in broker engagements.

Dispositions and Debt Transactions – Support asset team in underwriting, due diligence, and closing phases for disposition and debt transactions. Coordinate the flow of information & materials with buyers, lenders, attorneys, brokers; review due diligence materials, Offering Memorandums, Broker Opinions of Value; and prepare closing statements and memos. Review Argus files and associated financial assumptions and cash flow.

Organization and Communication – Drive the organization and communication of key work products and information to effectively report to EQ/Shopcore senior team and Blackstone on asset or market conditions. Proactively manage processes and suggest improvements or areas where communication can be streamlined.

Associate will work in close collaboration with senior team members on the Asset Management team on a daily basis, in addition to collaborating with other departments throughout EQ/Shopcore, Revantage and Blackstone. The role is expected to oversee analyses of junior team members, working inclusively with the Analysts and providing mentorship.

Technical Competencies:

• Advanced proficiency in Argus Enterprise
• Exceptional Excel and financial modeling skills with a working knowledge of IRR, NPV, and other fundamental real estate metrics
• Proficiency in Word, Outlook, Teams, Adobe Acrobat, and PowerPoint
• Strong understanding of real estate markets and maintenance of an existing network of industry contacts
• Ability to read and interpret lease agreements, loan documents, and other legal documentation
• Ability to work independently, handle multiple concurrent projects, and meet deadlines
• Keen attention to detail; ability to run zero-defect analyses as well as review and oversee the analyses of junior team members

Preferred Qualifications:

• Bachelor’s degree in real estate, economics, finance, business or other quantitative fields
• Minimum of 4 years of experience within an investment bank or real estate investment firm
• Expertise within retail asset class required (open air retail preferred); experience in office a plus
• Experience overseeing and mentoring other professionals
• Willing to travel up to 15% - note upfront travel will be more

Total Direct Compensation: This job is also eligible for discretionary bonus on an annual basis.

EEO Statement

Our company is proud to be an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. Our employment decisions are based on individual qualifications, job requirements and business needs without regard to race, color, marital status, sex, sexual orientation, gender identity and/or expression, age, religion, disability, citizenship status, national origin, pregnancy, veteran status and or any other legally protected characteristics. We are committed to providing reasonable accommodations, if you need an accommodation to complete the application process, please email recruiting@eqoffice.com