Associate

Job Description

Pennybacker Capital is seeking a candidate to join its dynamic, entrepreneurial, high yield commercial real estate finance team located in New York. Headquartered in Austin, with offices in New York and Denver, Pennybacker Capital is a rapidly growing real estate private equity firm that invests in all product types in select dynamic growth markets across the United States. We utilize high quality data analyses, predictive analytics, and artificial intelligence tools to identify key investment themes and use that information to target mismanaged, undercapitalized, or undervalued properties and debt positions. We are looking for an enthusiastic, highly motivated, and team-oriented individual with a passion for identifying and solving complex problems and a drive for continuous improvement.

Essential Functions

Conduct financial analysis and underwriting of potential whole loan, mezzanine and preferred equity investment opportunities utilizing Excel and Argus software

Prepare cash flow models that will be utilized to value real estate investments through DCF analysis and other valuation techniques

Undertake transaction due diligence responsibilities including analyses of a property’s title and entitlement status, engineering and environmental condition, tenants and in-place lease review, operations and related financial statement review, analysis of market and competitive position, and other due diligence issues. Involves substantial data collection and review, plus coordination of legal, financial and commercial advisers

Facilitate the preparation of investment memoranda for the firm’s investment committee for approval

Qualifications - Required Knowledge, Skills, and Abilities

Experience

Bachelors degree from a top-tier university

MBAs will be considered (with no more than 4 years total work experience)

Course-work emphasis on Finance, Economics and/or Real Estate is preferred but not required

2-4 years of work experience in the commercial real estate debt market, preferably at a top-tier investment bank, private-equity firm, or advisory firm

Advanced financial modeling skills with experience modeling CRE assets and capital structures

Advanced experience with Argus

Distressed debt investing experience a plus but not required

Core Competencies

Teamwork - Contributes to building a positive team environment

• Initiative - Identifies what needs to be done and acts before the situation requires it

• Problem solving - Thinks creatively and identifies innovative solutions to existing processes and methods

• Communications - Effective expression of ideas and thoughts in both verbal and written form

• Self-Awareness - Objectively evaluates and seeks feedback on personal strengths and weaknesses

• Continuous learning - Seeks feedback to improve performance and pursues training and development opportunities