Clarion Partners is one of the largest real estate investment managers in the Americas and has managed real estate investments on behalf of institutional investors for more than 35 years. Our investment philosophy focuses on fundamental research within a broad operating platform of 9 offices strategically located across the United States and Latin America. Clarion’s investment capabilities span the spectrum from core to opportunistic investments in both the equity and debt sectors.
Clarion Partners seeks an acquisition professional to be an integral part of a team that sources, underwrites, evaluates, structures, and closes private equity investments in large institutional quality real estate properties located throughout the Northeast and Midwest regions. This position will be based in Clarion’s New York, NY office.
The position involves the following:
• Deal Sourcing and Review: Source and evaluate investment opportunities consistent with client-specific and general firm investment criteria. Focus will be on core, core-plus and value-add office, retail, industrial, multi-family and select hospitality investments. Role will involve substantial interaction with real estate brokers and owners; the ideal applicant will have pre-existing relationships and deal experience with an extensive number of local market participants in the operational region.
• Deal Structuring and Documentation: Assist with deal structuring and negotiation of investment terms, including coordination with legal counsel. The ideal candidate will have direct experience negotiating transaction documents, including JV agreements, loan documents and purchase and sale agreements.
• Projections: Assemble and modify cash flow projection models with respect to an investment, utilizing both Argus and Excel. Utilize judgment, develop and form strong opinions on various underwriting assumptions (with emphasis on the capital costs of renovation programs) and appropriate pricing/return parameters. The ideal candidate will have deep Argus and Excel experience to be able to thoroughly and reliably check the work of the Analysts and Associates that they are supervising.
• Investment Memoranda: Prepare and present Investment Memoranda to the Investment Committee and to Portfolio Management personnel. Candidate must be able to clearly articulate and support a cogent investment thesis for a variety of different product types, submarkets and levels of risk.
• Due Diligence and Closing: Undertake all due diligence responsibilities including detailed analyses of a property’s title and entitlement status, engineering and environmental condition, tenants and in-place leases review, operations and related financial statement review, analysis of market and competitive position, and other typical pertinent due diligence issues. Involves substantial data collection and review. Monitor transaction progress and coordinate closing.
• Group Administration: Acquire extensive familiarity with all major departmental procedures, data sources and software packages. Assist in the development and implementation of group/firm operational initiatives.
• Leadership and Management: Ability to manage, train and supervise a team of 3-4 Analysts and/or Associates will be a key differentiator. Candidate must demonstrate solid leadership capabilities, and possess an enthusiastic and confident personality.
• Experience: Approximately ten-plus (10+) years relevant work experience required. In addition to specific acquisition experience, finance, sales, leasing, asset management, or development experience is a plus. Experience in the office, retail, industrial and multifamily sectors is a plus. Knowledge of the Midwest, Boston and New York is a plus.
• Knowledge: Must possess the ability to undertake detailed analyses and to make well-reasoned, decisive recommendations to senior management. Excellent writing skills, financial/quantitative skills, and fluency in Excel and Argus software are required and absolutely critical. Must be able to efficiently work with a minimum of supervision, and to allocate time between multiple tasks/demands, changing priorities, and tight deadlines; an ability to concurrently pursue multiple opportunities is required.
• Communication: The selected acquisitions professional will work in collaboration with an investment team based in New York to source and analyze potential real estate investments and to execute the overall investment program for Clarion's real estate advisory business. The candidate must be able to work independently and as part of a team. Candidate should be proactive and self-motivated. Strong sourcing capability, work ethic, integrity and commitment to meet deadlines are essential candidate attributes. Candidate must possess strong interpersonal communication and writing skills.
• Education Requirements: Undergraduate degree required. MBA, MRED or CFA is a plus.