Main Responsibilities of a Real Estate Investment Associate at Wealth Management Company
Geoff's role as a Real Estate Investment Associate is unique, encompassing a "cradle to grave" approach—handling both acquisitions ("searching for deals and buying real estate") and asset management ("managing the asset"). Their responsibilities span underwriting deals, supporting capital improvement projects, lease negotiations, and collaborating with brokers and legal teams, representing a blend of analytical and operational tasks with increasing autonomy compared to an analyst role.
Real Estate Investment, Financial Analysis, Asset Management, Deal Sourcing, Underwriting
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Geoff Esmail
Real Estate Investment Assoicate
Wealth Management Company
University of Arizona
UCLA & MBA
History, Art History
Finance (Banking, Fintech, Investing)
Finance
First Generation College Student
Video Highlights
1. The role involves a unique 'cradle-to-grave' approach encompassing both acquisitions and asset management, offering broad experience.
2. Responsibilities include deal underwriting (creating proformas and assessing returns), supporting asset management (capital improvements, lease negotiations), and working with brokers and lawyers.
3. The position provides opportunities to source deals independently, visit assets, and handle more tasks with increasing autonomy compared to an analyst role.
Transcript
What are your main responsibilities as an investment associate?
I should preface this by saying my role has a unique structure. We operate on a "cradle to grave" model, which differs from many of my competitors who have very siloed roles.
In investment management for real estate, there are typically two main functions: acquisitions and asset management. Acquisitions involves searching for and buying real estate deals that will be vested through the fund. Asset management, ideally, focuses on holding and working with that asset throughout its life until it's sold.
Our cradle to grave process means we handle both. "Cradle" is when we buy the deal, and "grave" is when we put it to bed. Therefore, my responsibilities cover both acquisitions and asset management support.
I'm not yet a vice president or investment manager leading these efforts. I'm in a support role. The difference between an analyst and an associate is that you get more opportunities to source deals yourself. You also get to see the assets more and speak with brokers more.
There's a greater comfort level for you to work independently on these tasks, rather than being more closely managed. That's the permanent aspect of it.
On the acquisitions side, my main focus is underwriting deals. This involves creating proformas, projecting cash flows, calculating returns, and determining if they fit our cost of capital and desired investment profile.
On the asset management side, it's really about supporting the management of the asset. This includes helping with capital improvement projects and ensuring our business plan is executed. We work to maintain occupancy or bring in new tenants.
This also entails lease negotiations. Both acquisitions and leasing involve a lot of documentation. It’s funny how the lawyer route I took came into play, but fortunately, it’s more about managing and working with lawyers, ensuring the business side is represented. That’s the main function of my responsibilities.
Advizer Personal Links
No