Realty Income, The Monthly Dividend Company®, one of four San Diego based S&P 500 companies dedicated to providing shareholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,600 real estate properties owned under long-term lease agreements with regional and national commercial tenants. To date, the company has declared almost 600 consecutive common stock monthly dividends throughout its 50-year operating history and has continually increased the dividend since Realty Income's public listing in 1994 (NYSE: O). Our company attracts individuals who value integrity, perseverance, and teamwork. If you appreciate working in a professional environment that rewards employees based on meritocracy and values a work-life balance, make sure to apply today!
Reporting to Chief Strategy Officer, as Realty Income's Head of Real Estate Research you will be responsible for the oversight of all valuation related matters in relation to pre-acquisition, disposition, and financial reporting of all properties. Our research team is something that allows us to tap into the outside markets, and you will be a driving force in execution. You will assist in the property related due diligence efforts for all potential acquisitions, expansions, and developments. As the leader of our growing Research Team you will provide oversight on general market research, replacement costs, reserve estimates, immediate repairs, and construction deficiencies. Your expertise in both developing a team, and vast market background will be crucial to the success of this role!
Your Contribution to the Team Includes:
Develop and Coordinate Valuation Process Including
- Replacement Cost, Market Rent, Land and Intangible Valuation in Preparation of ASC805 and FAS141 Reports
- Use CoStar, Loopnet REIS, RealQuest, Real Capital Analytics or contact brokers in potential markets for comparable rent and land value information.
- Effectively utilize the Marshall Valuation Services cost guide to determine replacement costs of building and site improvements.
- Communicate with internal and external auditors related to purchase price allocation conclusions.
Work with Portfolio Acquisition Department Relative to Replacement Cost and Market Rents
- Monitor and review new acquisition workflow relative to replacement cost and market rents.
- Monitor and review potential dispositions relative to replacement cost, market rents, and dark values.
- Oversee and analyze data analytics for new acquisitions and owned properties.
Assist in Industry Research
- Gather relevant industry information through Industry Reports, Trade Publications, Thomson One Equity Research, etc. to assist in updating any existing industry reports.
- Use the established list of companies, industries and “catch-phrases” in the Google “News Alerts” database. Disseminate and present information to CEO and Executive board.
- Alert Research staff to notable reports prior to sending anything to the Executives.
- Gather relevant real estate transaction data through CoStar to analyze industry trends.
Evaluate and Summarize Property Condition Reports
- Review property condition reports obtained for new acquisitions and summarize findings and costs. Utilize findings in coordinated effort with both the Portfolio Acquisition and Legal Departments in final purchase negotiations.
Perform and Oversee Site Checks
- Coordinate with store managers, developers, and/or third party report providers to conduct site checks for new acquisitions, expansions, and developments.
- Summarize findings and follow-up on outstanding issues with Investment Committee, Legal Department, and Portfolio Acquisition Department.
- Coordinate property site checks with Research team, Acquisition and Legal departments in order to meet due diligence periods and policy standards. Facilitate site presentations with Investment Committee and Head of Research.
What You'll Need to be Successful:
- Robust understanding of real estate valuation methodologies and financial reporting standards as they relate to Accounting Standard Codification ASC 805.
- Strong oral and written communication skills and presentation abilities, including the ability to communicate complex ideas to large groups and senior levels of management.
- Strong time management skills with the ability to organize and analyze large quantities of data while keeping a high attention to detail.
- Ability to establish and maintain strong working relationships with co-workers and third party vendors. • Adapt to frequent changes in workload and adjusted priorities quickly as circumstances dictate.
Education and Experience:
- Bachelor’s degree (B.A.) from four-year college or university with a finance/accounting/real estate background with five to seven years of experience.
- Experience in and understanding of financial reporting.
- Ability to communicate effectively with internal and external auditors.
Certificates, licenses or registrations:
- Drivers license required
- MAI or commercial appraisal license preferred
- Research/Market Analysis
5+ to 7 years