Position Summary
Aequo is seeking a self-starting Associate to spearhead asset management at the company and work directly alongside the managing principals on new acquisitions. The two managing principals have used a combination of their own time, outsourcing, and affiliate resources to accomplish Aequo’s 15 acquisitions and asset management to-date. The position offers the Associate the opportunity to immediately become a critical team member of a well-capitalized and growing real estate investment company, and to learn every aspect of real estate acquisitions, ownership and operation.
Asset Management: Oversee a growing portfolio of healthcare real estate and senior housing investments. The role will monitor operating and financial performance, work closely with third-party property managers and tenants, and identify issues and opportunities before they affect value.
Acquisitions: Support new acquisitions through sourcing, underwriting, diligence, investment committee materials, closing and transition planning.
Capital Markets: Support capital markets activity (debt financing and future equity capital raising) on individual asset acquisitions and at the platform level.
Core Mandate
- Own the asset management oversight across all Aequo assets, and maintain Aequo’s proprietary asset management workflow and dashboard of each asset’s performance against business plan.
- Drive accountability with third-party operators around occupancy, rate, labor, NOI, capital projects and key operating initiatives.
- Support acquisition and capital markets decisions and process from sourcing deals, to underwriting, closing and transition.
- Exhibit flexibility and can-do attitude to accomplish whatever needs to get done across the portfolio and pipeline.
Primary Responsibilities: Asset Management
- Own asset-level business plans, annual budgets, forecasts and reforecasts.
- Track results against budget, underwriting and current plan, focusing on occupancy, rate, revenue, labor, NOI, cash flow and capital needs.
- Analyze financial statements, operating reports, census and rate data, staffing metrics, accounts receivable, capital spending and other property KPIs.
- Coordinate capital projects, including scope, budget, approvals, timing, draw tracking and return analysis.
- Support lender, investor and internal reporting, including variance commentary, dashboards and ad hoc analysis.
- Monitor licensing, life-safety, insurance, property-tax and other compliance matters with operators and advisers.
- Visit properties selectively to evaluate operations, physical condition, market positioning and business-plan execution.
Primary Responsibilities: Acquisitions
- Screen opportunities and summarize key merits, risks and preliminary pricing.
- Maintain financial projection models for senior housing and other healthcare real estate.
- Analyze historical and projected operations, demographics, competitive supply, rents, occupancy, labor, capital needs and financing alternatives.
- Coordinate portions of financial, operational, physical, environmental, title, survey, zoning, licensing, regulatory, insurance and legal diligence.
- Prepare investment committee memoranda, presentations, sensitivities and transaction summaries.
- Assist with lender materials, financing comparisons, closing processes and acquisition-to-operations transition plans.
- Develop relationships with operators, brokers, lenders, consultants and other industry participants.
Qualifications:
- Approximately 2+ years of relevant experience in real estate asset management, acquisitions, investment management, private equity, investment banking, commercial RE brokerage, or a related field.
- Strong financial-analysis and Excel-modeling skills, with the ability to connect operating decisions to cash flow, valuation and investment returns.
- Experience reviewing property-level financial statements, budgets, operating reports and capital plans.
- Ability to manage multiple assets and transaction workstreams with limited supervision in a remote environment.
- Clear, concise written and verbal communication; comfortable working directly with senior executives, operators, lenders and outside advisers.
Remote/Hybrid:
- Aequo’s managing principals are located in New York City and Boston. The role will initially be remote, however potential for hybrid set up in future depending on candidate location and preferences.
