Location: New York,NY, USA
SPRING11
Spring11, an affiliate of Newmark provides a full suite of commercial real estate services to a wide range of clients including some of the world's largest banks, debt and equity funds, REITs, life insurance companies, brokerages, and investors throughout the United States and Europe. Our team consists of over 450 people based in New York, Atlanta, Houston, Boca Raton, London, and Chennai, India.
JOB DESCRIPTION:
This role will be dedicated to Silverstein Capital Partners ( SCP ).
Silverstein Capital Partners ( SCP ) is the lending arm of Silverstein Properties Inc. SCP provides financing for all major product types in growing urban markets throughout North America. Leveraging over 50 years of real estate experience, SCP provides senior loans, bridge loans, subordinate loans, and rescue capital to borrowers on shovel-ready ground-up construction, heavy value-add repositioning, land, and inventory loans.
SCP is seeking an exceptional individual to join its team as an Associate in New York. The ideal candidate for the role has a bachelor's degree in addition to 3+ years of experience preferably within a real estate lending platform, investment bank, institutional real estate fund, or an institutionally backed sponsor.
The Associate will analyze and support all aspects of the SCP platform, including origination, underwriting, and asset management. Based at the Company's Headquarters in Downtown Manhattan, specific responsibilities will include the following:
ESSENTIAL DUTIES:
* Analyze potential opportunities to determine investment potential.
* Produce detailed financial models using Excel and ARGUS.
* Conduct due diligence through site visits and studying development budgets, sponsor/guarantor credit profiles, KYC reports, property valuations, market information, third party reports and financial statements.
* Prepare investment committee packages and assist in the presentation of transactions to investment committee.
* Support the management of SCP's deal pipeline.
* Research and analyze markets and submarkets to ascertain underwriting assumptions and comparable data.
* Assist management in continuous monitoring of overall portfolio and credit risk.
* Develop and maintain relationships with mortgage bankers, real estate brokers, developers and investors.
SKILLS, EDUCATION AND EXPERIENCE:
* Bachelor's degree required with a concentration in real estate, finance, business, accounting, or related field.
* 3+ years of relevant professional experience within a real estate lending platform, investment bank, institutional real estate fund, or an institutionally backed sponsor.
* Outstanding proficiency in creating complex financial models for real estate financial analysis using Excel, including knowledge of advanced Excel functions. ARGUS proficiency is preferred, but not required.
* Strong analytical, quantitative, and communication skills. Must be able to demonstrate strong understanding of financial statements, use of comparative data and financial forecasting.
* Ability to work in a challenging, fast paced environment and handle multiple projects at the same time. Accuracy and attention to detail is critical.
* Willing to question assumptions and demonstrates a passion for continuing education.
* Must work well as part of a team and take ownership in projects.
Salary: $125,000 - $175,000 annually
The expected base salary for this position ranges from $125,000 to $175,000 annually. The actual base salary will be determined on an individualized basis taking into account a wide range of factors including, but not limited to, relevant skills, experience, education, and, where applicable, licenses or certifications held. In addition to base salary and a competitive benefits package, this position may be eligible for additional types of compensation including discretionary bonuses and other short- and long-term incentives (e.g., deferred cash, equity, etc.).
WORKING CONDITIONS: Normal working conditions with the absence of disagreeable elements
NOTE: The statements herein are intended to describe the general nature and level of work being performed by employees, and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified.
Newmark is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex including sexual orientation and gender identity, national origin, disability, protected Veteran Status, or any other characteristic protected by applicable federal, state, or local law.
Vaccination against COVID-19 is required as a condition of employment. All employees must be fully vaccinated by the time they begin employment. Fully vaccinated means 14 days have passed since you received the second shot of a US-approved two-dose vaccine (such as Pfizer or Moderna) or the one shot of a US-approved one-dose vaccine (such as Johnson & Johnson). All employees will be required to provide proof of vaccination in connection with the mandatory vaccination policy.
Newmark will comply with the reasonable accommodation provisions of federal, state, and local laws for individuals unable to receive the COVID-19 vaccine due to a medical condition or sincerely held religious belief.