· Investment Management Services: Learn and work with the team to support institutional client’s acquisitions, asset management and lending needs for their commercial real estate portfolios. Analysts will assist with ARGUS Enterprise model audits and maintenance, lease reviews and abstracting, preparation of acquisition memorandum, financial due diligence, market analysis, hold / sell analysis, variance to budget analysis, valuation analysis, loan stress testing and reviews, loan covenants reviews and abstracting.
· Appraisal Process: Get familiarized with the process of and why we are doing what are doing at Altus. Conduct market analysis for the subject property, which includes gathering and analyzing data about the subject’s market and submarket and determining market rent based on recent leases at comparable properties and the subject’s recent leasing. Gather data and apply judgement to determine reasonable valuation assumptions such as market rent and market rent growth.
· Appraisal: Learn to prepare cash flow models using ARGUS Enterprise. Analysts use factual data provided by Clients (rent rolls, operating statements, tenant sales, and various other financial information) on the subject property to assist with the preparation of cash flow models., Learn the Sales Comparison and Cost approaches and compile the appraisal reports.
· Appraisal Review: Support the reviews of third party appraisal reports as part of the valuation management process, which includes reviewing the ARGUS Enterprise cash flow model for factual and market assumptions, reviewing the appraisal reports, and comparing the valuation metrics to the benchmark data. Learn to use (of) best judgement and knowledge to determine the reasonableness of the valuation and ensure that the appraisal reports are in compliance with USPAP and State regulations.
· Financial Due Diligence: Learn to audit and underwrite cash flow models of all commercial real estate asset classes for transactions. Analysts will advise clients, including Private Equity firms, Investment Banks and REITS, on buyside acquisitions by providing cash flow modeling and a better understanding of critical deal issues. Audit financial models in Excel and AE. Build financial models for CMBS loan underwriting. Analyze tenant health ratios for buyside retail acquisition underwriting. Audit expense recovery models. Review historical income and expenses for pro forma forecasting. Abstract tenant leases and summarize key tenant clauses with potential cash flow impacts.