Real Estate Asset Manager at Skydeck Capital in Chicago, IL

Company Description

Skydeck Capital is a rapidly growing single-family office based in downtown Chicago managing the family’s capital and investing across asset classes.

Job Description

Skydeck Capital is seeking a versatile real estate professional to join its investment and asset management team. The successful candidate will be capable of overseeing an existing portfolio of real property and development projects on a day-by-day basis. Additionally, the Principal will assist in sourcing, evaluating, and closing new real estate investment opportunities as well as assist in the disposition of real property.

The Principal will direct and coordinate the asset management, on-going operations, and administration of multiple properties across different asset classes including multi-family, industrial, and office. The Principal will help manage relationships with JV partners and track performance, capital inflows or outflows, as well as upholding our customary major decision rights. Given the flexible mandate of the investment strategy we anticipate acquiring and operating real estate assets outright and the Principal will be responsible for managing this portion of the portfolio as well.

This is a newly created role meant to expand on the foundation the existing investment professionals have built.

The primary recurring tasks of this position are as follows:

• Review periodic financials and forecast distributions or possible capital injections across multiple properties, markets, and product types
• Evaluate performance against business plans by reviewing budget-to-actual analyses, leases, occupancy, revenue, expenses, and capital expenditures
• Work hand in hand with external JV partners to drive the performance of the asset and specific projects and anticipate issues that may impact performance
• Review and approve preliminary project business plans, capital projections, and annual budgets
• Routine site visits and update calls with operators
• Actively participate in the due diligence process for acquisitions, dispositions, and recapitalizations
• Opportunistically source and evaluate new opportunities

Relating to the outright owned portfolio:

• Establish and evaluate leasing strategies and closely monitor property management teams
• Work to develop, measure, and refine strategy based on market conditions to maximize value and performance of each investment
• Lead budget development for each property
• Trigger distributions, approve financials, and maintain compliance on debt agreements, legal documents, and regulation
• Read, document, interpret, and negotiate leases, loans, and operating/JV agreements
• Actively represent the office in conversations with external third parties including architects, contractors, engineers, leasing/sales brokers, and local community stakeholders with the goal of Skydeck Capital’s interests being prioritized
• Oversee performance of all trade contractors in conjunction with development partners by conducting routine site visits and meetings
• Prepare monthly reports for assigned portfolio
• Manage real estate tax appeals/payment deadlines with accounting team and other responsible parties
• Lead financial closing of new projects and refinancing of certain assets in the portfolio

Other:

• Provide analytical support on a wide variety of assignments including market research, review of property operating statements, cash flow modeling, property valuation, and preparation of investment memos
• Evaluate and lead property debt financing as needed
• Manage residential and personal real estate projects, as needed, including the construction management, acquisition, and disposition of properties

Qualifications

• 5 - 8 years of real estate asset management experience required
• Experience in one or two other property types a plus (e.g., residential and industrial)
• Bachelor’s Degree in real estate, business, finance, or accounting is a plus
• Strong interpersonal skills with an ability to collaborate with others
• Capable of managing several projects at one time
• Strong organizational, time-management, and prioritizing skills
• Must be detail oriented, proactive self-starter, and results-oriented
• Excellent financial modeling and strong proficiency in Excel, Word, and PowerPoint
• Experience with Argus DCF/AE, Yardi, or AppFolio is a plus
• Travel and non-business hour commitments required

Additional Information

All your information will be kept confidential according to EEO guidelines.