Analyst, Debt Strategies

Job Description

The successful candidate will be responsible for supporting the debt strategies group, supporting the origination and deal execution teams on the screening, underwriting, and closing process for new investments and will remain involved in the deals through their life cycle. The ideal candidate is a motivated self-starter with a strong worth ethic and desire to work in a fast-paced, team oriented and entrepreneurial environment. Candidates must have significant underwriting and/or direct real estate debt investment experience.
 

This position is available for immediate hire and will report to the Vice President, Real Estate Debt Strategies, based in New York City.
 

Founded in 1988, Lightstone is one of the largest and most diversified privately held real estate companies in the United States. Lightstone is active in 24 states across the country, developing, managing, and investing in all sectors of the real estate market, including residential, hospitality, commercial and retail. With over 127 existing properties, Lightstone’s over $6.5 billion portfolio currently includes over 3.5 million square feet of office, retail and industrial commercial properties, over 15,000 residential units, and over 4,100 hotel keys.  Lightstone also owns over 10,000 land lots across the country. 
 

Lightstone Capital (“LSC”), launched in 2018, is an alternative commercial real estate lender primarily focused on direct origination of first mortgage bridge loans on transitional commercial real estate assets inclusive of all real estate sectors and domestic U.S. geographies. LSC provides sponsors with flexible, creative, and immediate financing solutions and is a fully integrated lender managing the origination, underwriting/execution, asset management, and loan servicing processes in house with over $700M in transaction volume since inception.  LSC’s corporate headquarters is located in NYC with satellite offices in Dallas and Los Angeles. LSC specializes in providing first lien and mezzanine bridge loans secured predominately by transitional and near stabilized real estate assets. Target loans range in size from $5M up to $50=M across all asset classes and U.S. geographies.
 

• Deal Screening: evaluation of new business

-Interface with brokers, sponsors/borrowers, and other market participants to aggregate market knowledge

-Search public and pay based data services for property and market information

-Create initial valuation analysis including setup of Rent Rolls, Pro-Forma Cash Flows, Reserve Schedules, and Capital Structure

-Develop a broad-based understanding of all asset classes and sectors of CRE (multifamily, industrial, office, retail, hospitality, self-storage, seniors housing, specialized)

-Transaction types heavily focused on first mortgage bridge loans

• Deal Underwriting/Execution: refine value & close loans

-Drive diligence process with sponsor

-Analyze due diligence to evaluate the credit profile of the market, property and sponsorship of financing opportunities

-Engage and manage third party report process and review

-Support in the preparation of both internal and external investment memoranda

• Through Transaction Deal Support

-Integrate new investments into asset tracking software

-Actively communicate with Sponsorship to monitor post-closing obligations

-Support future funding draw requests and determinations

-Support asset management review of major decisions/requests as applicable

-Minimum of 1-3 years of relevant commercial real estate debt investment or investment brokerage experience that directly requires valuation of real estate.

-Experience with CRE debt investment including senior bridge loans, mezzanine loans, and preferred equity is preferred.

-Self-starter who has the initiative and ability to thrive in an environment that is highly entrepreneurial, and which requires rapid learning, multitasking and prioritizing under tight deadlines.

-Strong analytical and quantitative skills, including advanced modeling and financial analysis.

-Ability to understand and interpret complex business documents including financial reports and contracts with the capacity to analyze variances.

-Excellent deal execution skills, including due diligence, communicating with external parties, and financial abilities.

-Demonstrated ability to identify key risks, recognize opportunities, and effectively problem solve.

-Excellent oral and written communication skills; presence and poise.

-Curious, creative thinker with the ability to think outside the box to find solutions while remaining humble enough to seek assistance when needed

-Good judgment, perseverance, and stamina.

-Well-organized; strong independent work ethic with an excellent attention to detail.

-Proficient in Microsoft Office Suite with an expertise in Excel; familiarity with common commercial real estate data sources (i.e. CoStar, GreenStreet, etc.), ARGUS is a plus.

-Bachelor’s degree in Real Estate, Finance, or Accounting from a top institution with demonstrated academic excellence. Advanced degree in Real Estate, Finance, or Accounting a plus.