RMC is looking to add a Senior Real Estate Associate, Asset Management to work with our real estate team. In this role, you will play an integral role in the active management of a portfolio of retail assets to develop strategy, optimize cash flow, and enhance value. Over time, the portfolio may also include other asset types, such as office and multifamily.
A successful Senior Real Estate Associate will have an ownership mentality, strong quantitative and qualitative skills, and a desire to support the mission-driven work of a university endowment. The ideal candidate enjoys a variety of assignments and working with a highly collaborative team.
About Rice Management Company
Rice Management Company (RMC) is a division of Rice University that serves as the steward of the University's $8B of permanent capital resources. The team of nearly 40 investment professionals at RMC employ an actively managed investment strategy and has generated top decile returns over the past decade. The work that RMC's team does plays a vital role for Rice, as distributions provide approximately 40% of the University's operating budget and support the University's core endeavors: path-breaking research, unsurpassed teaching, and access for students regardless of ability to pay. The endowment ranks in the top 20 largest endowments of private research universities in the United States.
About RMC's Real Estate Portfolio
As part of the $8B endowment, RMC's $1B real estate portfolio includes strategic real estate in Houston and high-quality joint venture investments in select American and European markets including:
Rice Village - The 20-acre urban shopping district immediately adjacent to Rice University. This investment has 210k sq ft of retail that includes some of the nation's most recognized retail brands and some of Houston's most exciting first-to-market stores and restaurants. The Village includes 13 acres of near-term development opportunities building upon its established character.
The Ion District - A currently-under-development three-million square foot mixed-use innovation district in Midtown Houston with over $1B in future investments in new commercial office, apartment and retail buildings. The District includes The Ion, a $120M innovation hub that opened in 2021 and houses startups, leading technology companies, and programming to grow Houston's innovation ecosystem.
Joint Ventures - Five long-term partnerships in targeted American and European markets investing in office, multi-family, and mixed-use value-add projects and new ground-up developments.
Commensurate with experience and qualifications
Creates and manages asset valuation models using both Argus and Excel
Assists asset management team in regular asset level reporting, oversight of third-party service providers, capital plan oversight, and business plan execution
Performs underwriting analysis of leases, reviews operational reports, property forecasts, and Argus cash flows for accuracy and provides variance analysis
Assists in oversight of the construction and renovation of assets
Reviews third-party appraisals for accuracy and consistency
Assists in the preparation of investment memos, presentation materials, and dashboards for review for internal use and stakeholder communications
Performs additional responsibilities as directed by real estate team leadership
Bachelor's degree in business, accounting, finance or other related field
3 years of related commercial real estate experience
Strong analytical and problem-solving ability with advanced Excel skills
Solid writing and presentation skills
Passion for real estate and desire to build a career on the principal side
Self-starter that shows initiative and enthusiasm in seeking new challenges
Ability to work independently with minimal supervision and collaboratively as part of a team
Attention to detail under time-pressure, ability to multi-task, and organizational skills
5 years of of related commercial real estate experience, ideally with focus on asset management
Rice University is an Equal Opportunity Employer with commitment to diversity at all levels, and considers for employment qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national or ethnic origin, genetic information, disability or protected veteran status.
Current Rice University COVID policies, which include vaccination, face mask, testing, gatherings, occupancy limits, and travel policies can be found here: https://coronavirus.rice.edu/policies
As a leading research university with a distinctive commitment to undergraduate education, Rice University aspires to pathbreaking research, unsurpassed teaching and contributions to the betterment of our world. It seeks to fulfill this mission by cultivating a diverse community of learning and discovery that produces leaders across the spectrum of human endeavor.