Senior Associate, Asset Management, Industrial

Company Overview

 

Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 26 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 209 existing properties, Lightstone’s over $9 billion portfolio currently includes over 13 million square feet of industrial, life sciences, and commercial properties, over 25,000 residential units, and over 5,100 hotel keys. Lightstone’s development portfolio includes over $3.5 billion currently under development in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.

Industrial and Logistics Investments

 

Through a creative and disciplined approach to acquisitions and property-level execution, Lightstone continues to strategically expand its holdings in the industrial and logistics sector, capitalizing on a generational shift toward ecommerce and continued supply chain evolution. Lightstone is able to utilize its multidisciplinary team and direct third-party relationships to identify operational inefficiencies prior to acquisition and optimize cash flow through hands-on leasing and asset management, generating exceptional risk-adjusted returns in a competitive market segment.

 

Starting in 2020 Lightstone has annually successfully transacted on more than $1 billion dollars of new industrial product in institutionally proven submarkets with proximity to key logistics infrastructure. Lightstone anticipates an ongoing annual investment target of $1 billion to $2 billion for the industrial platform with the expectation to continue expansion not only in their current markets but new strategic markets in the west. The current portfolio exceeds 10 million square feet nationally, with assets located throughout the Southeast, East, Mid-Atlantic and Midwest regions.

 

Ideal candidate will be located in Chicago, IL

 

Position Overview
The Asset Management Senior Associate will support all facets of the Industrial asset management operations and will play an integral role in the asset management team. The Industrial asset management operation encompasses 34 industrial buildings totaling approximately 10 million SF
Essential Functions

• Oversee asset management functions and property level operations on Industrial assets throughout the selected region
• Participate in the preparation and execution of property business plans
• Perform leasing functions. Interact with brokers and tenant representatives. Possess an in depth understanding of market conditions and trends to negotiate the highest value and best market transaction.
• Work with the acquisition teams to assure underwriting is consistent with market conditions.
• Provide analytical support for property financings, refinancing and dispositions.
• Conduct various analysis of accounting reporting, real estate taxes, risk management, property info. etc.
• Coordinate and manage the annual portfolio budgeting process. Implement and oversee property level operating budgets and CapEx budgets.
• Review of proposed lease deals and renewals for financial viability and business sustainability.
• Work with lenders and investors to ensure all information requests are provided in a timely and accurate manner.
• Monthly review of property financial reports and creation of monthly reporting dashboards.
• Conduct market tours and on-site property inspections.
• Various special projects as needed.
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• QUALIFICATIONS:
• Bachelor’s degree or equivalent experience.
• 5 years minimum of Industrial Real Estate experience – ideal candidate 6- 9 years
• Ideal candidate will have Industrial leasing experience
• Must be able to travel between NYC office on a quarterly basis
• Must be able to travel out of state and overnight 10-15% of the time in order to perform site inspections.

Competencies

• Strong knowledge of Argus, Excel, PowerPoint, and Word.
• Excellent analytical and financial skills.
• Strong attention to detail and ability to multi-task.
• Ability to effectively communicate and work with various departments.
• Motivated and detailed self-starter with a strong work ethic and ability to succeed in a fast-paced and changing environment.