Company
Headquartered in Philadelphia, PREIT is a premier owner, developer, and operator of high-quality retail and mixed-use destinations across densely populated U.S. markets. Founded in 1960, the company has a storied history of transforming traditional shopping centers into vibrant, community-centric hubs that bring together shopping, dining, entertainment, and lifestyle experiences. Today, PREIT continues to redefine the future of retail by leveraging its portfolio's prime locations to deliver dynamic, multi-generational destinations.
Responsibilities
This position will support the Regional Asset Manager as it relates to company strategy and goals. This includes, but is not limited to, budgeting & forecasting, leasing analysis, deal execution, due diligence, analysis, and other projects that align with PREIT objectives such as transactions, refinancing, and development.
Essential Functions
- Supports leadership in PREIT portfolio lease execution.
- Create and update annual property budgets and creating forecasting models for region in Argus and Excel.
- Develop pro formas and projections for leasing representatives to help them in negotiating transactions.
- Develop and track pro formas for redevelopment projects.
- Work closely with property management and accounting staff in coordinating collection efforts and responding to various tenant inquiries relating to co-tenancy, CAM audits and various other lease clauses.
- Build and maintain quarterly covenant calculations for term reporting.
- Participate in Regional Production meetings and ensure action items are addressed in a timely manner.
- Monitor performance of the property and identifying operations and challenges and implement strategies to respond.
- Review lease comments and work with Leasing Representatives to evaluate the impact of proposed changes and Landlord's risk and develop the appropriate responses to tenants.
- Prepare financial projections for the properties and portfolio, and for properties under consideration for development.
- Carry out special assignments/projects as assigned by management.
- Assist team in acquisition, disposition, and refinance initiatives.
Qualifications
- Bachelor's degree in Accounting, Finance, Real Estate, Business Management, or related field required. Master's Degree highly desirable.
- 1 - 5 years of experience in commercial real estate, financial analysis and/or contract and real estate law. A combination of equivalent education and experience necessary to effectively perform the responsibilities of the position.
- Strong interpersonal skills; comfortable working with all levels of management, leadership, ownership, joint venture partners and external advisors.
- Excellent written and verbal communication skills
- Detail orientation demonstrated ability to multitask effectively, and strong analytical skills.
- Competency in the use of Microsoft Office suite including Excel and PowerPoint. Experience using ARGUS or Yardi a plus.
- Ability to work in Center City, Philadelphia office 4 days per week.
Benefits
- 401(k)
- Health insurance