Associate, Asset Management

What We Do:

Core Spaces is a vertically integrated owner, operator, and developer of purpose-built student housing.  From world-class amenities and progressive design to impeccable client service with a community focus, we create spaces where people want to be. Our projects are thoughtfully designed, developed, and managed, creating extraordinary lifestyle experiences that are as unique as their respective cities.

Who We Are:

Core Spaces employs a dedicated, skilled team with significant experience in financing, developing, acquiring, and managing real estate projects.  Our corporate team of 75+ employees is focused on investing in high quality, purpose-built student housing assets across the U.S. in markets that exhibit high barriers to entry.  Core employs a rigorous, data-driven selection process to pursue only premier assets in the epicenter of campus life.  The current owned / operated portfolio of over 18,000 beds is concentrated to Tier 1 Universities in excellent locations walkable to campus.    Fueled by an entrepreneurial spirit, a collaborative culture, and a relentless pursuit of excellence, Core has developed a long track record of continued success and award-winning projects. 

Position Overview:

We are seeking to hire an Associate to join our Asset Management Team.  This position provides vital analytical support in strategic company decision-making to maximize the financial performance of the Portfolio.   The Associate will be an integral part of Core Spaces’ Asset Management Team, reporting the financial and operational health of Core’s student housing properties to various constituents.  The Associate will work with internal and external stakeholders to maintain a detailed pulse on each property and identify opportunities for improvements. 

Job Description:

• Provide general analytical and organizational support to the Asset Management Team in oversight of leasing, budgeting, financing, and operations.
• Prepare proforma financial models to analyze potential refinancing, hold/sell decisions, and existing debt covenants. 
• Oversee and execute annual budgeting process including preparation and review of historical results, developing projections for next year, and coordination with operations team.
• Assess monthly financials, determine key trends, and create investment performance reports for executive team and equity partners.
• Analyze leasing performance and provide recommendations on rental rates and leasing specials.
• Track Retail leases, prepare Retail CAM reconciliations, and communicate with retail tenants.
• Assist with real estate tax tracking and reporting
• Work with Acquisitions and Developments teams to review proforma assumptions and business plan for potential developments and acquisitions.
• Work with Operations, Property Accounting, and other key internal stakeholders to meet deadlines for internal and external reporting.
• Create Ad Hoc Analysis for Executive Team, Equity Partners, and Asset Management Team to help in consolidation of data, compare performance against competitors, automize processes, etc.

Qualifications:

• Bachelor’s Degree in Finance, Real Estate, Accounting, Economics, Statistics, Applied Mathematics.
• Knowledge of and experience with commercial real estate fundamentals and investment principles.
• 1-5 years of professional experience.
• Advanced financial modeling skills including VBA, Microsoft Excel, Word, and PowerPoint skills.
• Strong analytical skills and attention to detail.
• Works well independently and as a member of a team.
• Excellent written and verbal communication skills.
• Committed to excellence and high standards.
• Demonstrates upmost level of integrity in all instances, and shows respect towards others.
• Willingness and ability to travel occasionally, paid by the company.

The responsibilities and qualifications listed above are not all-inclusive.