Real Estate Associate

Special Instructions to Applicants: In PDF form, applicants should attach a resume and cover letter in the Supporting Documents section of the application.

About Rice

Boasting a 300-acre tree-lined campus in Houston, Texas, Rice University is ranked among the nation’s top 20 universities by U.S. News & World Report. Rice has a 6-to-1 undergraduate student-to-faculty ratio and a residential college system, which supports students intellectually, emotionally, and culturally through social events, intramural sports, student plays, lecture series, courses, and student government. Developing close-knit, diverse college communities is a strong campus tradition, which is why Rice is highly ranked for best quality of life and best value among private universities.

Rice is also a wonderful place to work. Rice faculty, staff, and students share values that are essential to our success as a healthy community. Those values guide our decisions and behaviors and shape Rice’s culture. They come through in how we treat each other and the welcome we extend to our visitors. These values can be recalled simply by our name — RICE — Responsibility, Integrity, Community, and Excellence.

About the Real Estate Portfolio

Rice Real Estate Company is responsible for the management, investment, and development of real estate assets that support the mission and vision of Rice, as well as providing risk-adjusted returns to support ongoing University operations. The company works closely with various stakeholders to enhance the university’s infrastructure and community presence. The approximately $600 million real estate portfolio consists of strategic real estate in Houston, including:

• Rice Village - The 22‐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 with an approximate capitalization of $500m.
• The Ion District - A currently-under-development 15-acre mixed-use innovation district in Midtown Houston with over $1B in future investments in new commercial office, apartment, and research buildings. The District includes The Ion, a state-of-the-art innovation hub that opened in 2021 and houses startups, leading technology companies, and programming to grow Houston’s innovation ecosystem. 

Position Summary

Rice Real Estate Company is looking to add a Real Estate Associate to our team in Houston, TX. The Associate will be a key member of the team and play an integral role. This role will be responsible for supporting the Real Estate team in monitoring and analyzing the financial performance of our real estate assets, including office and retail properties.

The ideal candidate will have a strong understanding of real estate financial modeling for operating and development assets, market analysis, and expert knowledge of Argus and Excel. They will be tasked with conducting in-depth financial analysis, creating investment reports, and contributing to the development and execution of strategies aimed at optimizing asset value and maximizing returns for Rice University. A successful Associate will have an ownership mentality, strong quantitative and qualitative skills, and a desire to support the mission-driven work of Rice University.

Workplace Requirements

This position is client-facing and on-site in Rice Village or the Ion District in Midtown Houston, TX, to effectively carry out its vital functions. Per Rice policy 440, work arrangements may be subject to change.

Salary

This is a full-time, benefits-eligible position, and the salary will be commensurate with experience and qualifications. *Exempt (salaried) positions under FLSA are not eligible for overtime.

Minimum Requirements

• Bachelor’s Degree
• 4+ years’ experience in asset management, real estate development, commercial real estate, or finance

Skills:

• Understanding of environmental, zoning, and regulatory compliance issues
• Passion for real estate and desire to build a career on the principal side
• Advanced financial modeling ability with demonstrated quantitative skills and aptitude
• Intermediate to advanced skills in Microsoft Excel, PowerPoint, and Argus
• Excellent analytical and problem-solving skills with a keen attention to detail
• Self-starter with the ability to work independently with minimal supervision and collaboratively on a team
• Attention to detail under time pressure and the ability to multitask
• Strong academic background

Preferences

• Bachelor’s degree in finance or real estate
• MBA
• Three to five years of experience in analytically rigorous commercial real estate, finance, and/or hospitality environments
• Experience with various types of commercial real estate, such as office, retail, multi-family, and hospitality

Essential Functions

• Create and manage detailed and dynamic financial underwriting models for development and asset management activities, including cash flow projections, budget variance analysis, and investment performance metrics
• Assist in the preparation of investment memos, presentation materials, various reports, and dashboards
• Track the financial performance of properties, including revenue, operating expenses, and capital expenditures
• Conduct research on best practices, investment strategies, and other relevant topics such as trends in rental rates, occupancy, and property values
• Collaborate with Senior Investment and Development Directors to develop and monitor asset-level budgets and forecasts
• Assist with business plans, including property upgrades, leasing strategies, and recapitalization initiatives
• Track performance against budgets and make recommendations for corrective actions if needed
• Support the development team in underwriting deals and reviewing operational reports, property forecasts, proformas, and Argus cash flows for accuracy, and provide variance analysis
• Assist in the management of third-party vendors and brokers, lease renewals, negotiations, and tenant relations
• Work with the asset operations teams to implement asset strategies, resolve operational issues, and ensure alignment with overall portfolio goals
• Participate in the due diligence process for new acquisitions and dispositions by preparing financial models and supporting materials
• Review and prepare internal and external asset valuations
• Assist with annual property valuations and audits
• Assist with portfolio and strategic analysis
• Assist with ad hoc project management initiatives

Rice University HR | Benefits: https://knowledgecafe.rice.edu/benefits 

Rice Mission and Values: Mission and Values | Rice University

Rice University is committed to ensuring Equal Employment Opportunity and welcoming the fullness of diversity into our candidate pools. Rice considers qualified applicants for employment without regard to race, color, religion, age, sex, sexual orientation, gender identity, national or ethnic origin, genetic information, disability, or protected veteran status. Rice also provides reasonable accommodations to qualified persons with disabilities. If an applicant requires a reasonable accommodation for any part of the application or hiring process, please contact Rice University’s Disability Resource Center at 713-348-5841 or adarice@rice.edu for support.

If you have any additional questions, please email us at jobs@rice.edu. Thank you for your interest in employment with Rice University.