Organization Background
Aeon is a nonprofit developer, owner and manager of quality, affordable homes in the Twin Cities. Since 1986, the award-winning nonprofit has built or renovated more than 5,900 apartments and townhomes. These homes provide stability to more than 17,000 people each year. At Aeon, we believe everyone deserves a home. But the threat of homelessness is real. Too many people are struggling to make ends meet. One illness, one day without work, one family emergency, could leave them with nowhere else to go. Together, we will act boldly to create and preserve quality, affordable homes for those who need them most. With Aeon, you’ll discover hard work that’s worth it. Learn more about Aeon at www.aeon.org.
The Work of the Team
The Asset Management team accomplishes its purpose by executing on financial, physical, policy and mission opportunities for the portfolio, engaging with a myriad of funding partners, delivering on commitments and building productive relationships.
The team’s work includes, but is not limited to:
- Property and portfolio level analytics
- Financial, physical and operational performance monitoring to identify problems and opportunities
- Managing properties’ organizational, contractual and regulatory requirements
- Capital improvement, reserves and financial planning
- Refinancing, restructuring and repositioning
- Real estate tax management
- Insurance management
- Collaborating closely with Aeon’s Property Management, Accounting, Compliance and Housing Development teams to ensure Aeon’s property ownership goals are understood and met, properties are effectively programmed and operated, reporting and compliance requirements are met, and new developments and acquisitions incorporate accumulated knowledge from long-term ownership
The Asset Management Intern will be responsible for supporting the Asset Management team with the stewardship of the portfolio of properties, ensuring long-term mission-impact, financial and physical sustainability and that Aeon’s financial expectations and requirements are met, while maintaining positive relationships with property funders and regulatory agencies. The Asset Management Intern will report to the Vice President, Asset Management.
Specific performance accountabilities include, but are not limited to:
- Assist with gathering information and updating templates for annual budgets and periodic forecast updates including debt service coverage ratios and cash flow waterfalls.
- Research and report on actual capital improvements against budget and update the associated reserve analysis.
- Update and modify as directed refinancing/restructuring models.
- Research and analyze accounts receivable or other balance sheet accounts as directed.
- Data entry, process documentation, document upload and other duties to assist with maintaining MRI Developer Central, the asset management platform.
- Develop models/reports in excel to analyze property trends and portfolio level metrics. Assist with incorporating into regular reporting through MRI platform.
- Visit properties to document curb appeal, maintenance or other items as requested.
- Gather and analyze comparable market data for comparison to owned portfolio, including operating and financial data.
- Research potential funding for green energy improvements through public agencies, utilities or other grant sources.
- Provide support for due diligence by gathering property information, coordinating with vendors, asset managers and other teams within Aeon.
- Assist with preparation of requests for reimbursements from operating and replacement reserves.
- Other, as assigned
Qualified candidates should have provable ability in most or all the following areas:
- Skilled in financial analysis using Microsoft Excel
- Skilled with Microsoft Office suite of products including Word, Power Point, and Project
- Coursework or experience that demonstrates an understanding of basic real estate concepts and terminology
- Coursework or experience in accounting with the ability to read and understand financial statements is a plus
- Comfortable learning new software and database management systems
- Strong verbal and written communication skills
- Detailed oriented and dedicated to getting the job done accurately and on time
- Fast learner who seeks constructive feedback for continuous improvement
- Able to work independently
Compensation, Location, Duration & Work Hours
This paid internship will offer up to 40 hours per week at $18 per hour for up to 10 weeks in the summer of 2023. The Asset Management Intern will based out of Aeon’s Central Office in the North Loop of Minneapolis with work hours between 8am-5pm Monday through Friday.
If you are interested in applying for this position, please visit: https://aeonmn.applicantpro.com/jobs/2732008.html
Position is open until filled.
Aeon values a diverse work environment. People of color, individuals with disabilities, members of the LGBTQ+ community, and people from other underrepresented communities are strongly encouraged to apply.
Aeon is an Equal Opportunity / Affirmative Action Employer
Employees and residents are encouraged to apply.
