Annaly Management Company LLC is the external manager of Annaly Capital Management, Inc. (Symbol: NLY), which is the largest Mortgage Real Estate Investment Trust (REIT) listed on the New York Stock Exchange with assets under management of approximately $113.1 billion as of December 31, 2017. Annaly’s principal business objective is to generate net income for distribution to its shareholders. Since 1997 when Annaly was established, it has paid out over $16 billion in dividends to shareholders.
Analyst for the Annaly Commercial Real Estate Group which invests in a variety of real estate-related assets across both industry (multi-family, office, industrial, hospitality, retail) and product type (first mortgages, mezzanine debt, B-Notes, CMBS, preferred equity and real property). Day-to-day responsibilities for this role will include managing deal flow, diligence, modeling and writing of investment memos for prospective investments, comparative analysis, monitoring existing positions and preparing portfolio level information for senior management.
The candidate will be part of Annaly’s Analyst and Associate Development Program. The program includes general assistance, targeted business and individual training, peer interaction across business units, mentorship, social activities, and the potential for opportunistic project or rotational assignments. The program’s initiative is in line with the broader Annaly training and development program.
• The Analyst’s primary responsibility will include sizing/underwriting of potential debt and equity opportunities in a timely and accurate manner
• Perform market research in support of potential investment opportunities using a variety of sources including CoStar, REIS, RCA, and other sources
• Compose actionable credit memos within timeframes necessary to complete deals
• Prioritize and manage large and active pipeline of investment opportunities across all major property types and in all positions of the capital structure
• Assist underwriting, legal/closing, and asset management teams in all stages of the deal process through and including asset management
• 1 to 2 years of experience with a respected financial firm (investment bank, hedge fund, private equity, etc.)
• Proficiency in the Microsoft Office suite of products – Excel, PowerPoint, Word
• Above average modeling skills, including familiarity with corporate financial statements
• Ability to work within a team and communicate effectively
• Ability to problem solve and think creatively when faced with new subject material
• Strong work ethic
• Bachelor’s degree, Master’s Degree
• Ability to analyze and understand business plans and to determine the likelihood of projections and to make data based adjustments as necessary
• Ability to understand and model in place and proforma cashflows with limited assistance, including determining cashflow drivers such as in place leasing, market forces, appropriate capex, etc.
• Ability to find appropriate comparable data, including sales, rent, vacancy, absorption, leasing, and other relevant data. Ability to fully use resources available including CoStar, REIS, RCA, and other sources
• Understanding of complex loan and equity structure and the ability to analyze and propose appropriate structure on a deal by deal basis
• Thorough knowledge of Argus DCF and Argus Enterprise including the ability to understand and modify broker generated models. Requires understanding of Argus input methods and various conceptual treatments of growth, vacancy, etc.
• Ability to create and modify complex Excel models to determine cashflows, returns, and to organize data
• Ability to compose actionable credit memos within timeframes necessary to complete deals. Focus on analysis, professional, aesthetically pleasing, accessible presentation, accuracy, and thoughtfulness
• Detailed knowledge of all major property types including multifamily, office, retail, hospitality, industrial, as well experience with other property types including self-storage, medical office, condo conversions, land, flex, etc.
• Must be willing to work in New York, NY, role is based in NYC
• Must be willing to submit to a background investigation
• Must have unrestricted work authorization to work in the United States
• Must be willing to work additional hours as needed to complete deadline driven projects