New York, NY
Salary Estimate: Confidential
Employment Type: Full Time
Work Place: Office
Experience Required: 2+ to 5 years
Education Required: 4 Year College
Job Description
Company Background
Mack Real Estate Group, LLC (MREG) is an integrated real estate investor, developer, operator, and lender. On behalf of institutional and high net worth investors, we make debt and equity investments in real estate and real estate-related securities through multiple business lines and strategies.
Our equity business invests in, develops and manages real estate across property types including multifamily, industrial, mixed-use, land and others as warranted by market conditions.
Our debt investment business, Mack Real Estate Credit Strategies, L.P. (MRECS), is focused on transitional commercial real estate lending and other debt investments.
Mack Real Estate Development LLC (MRED), a subsidiary of MREG, is a full-service real estate development business specialized in entitling, designing, and delivering institutional quality commercial real estate projects.
Mack Property Management (MPM), also a subsidiary of MREG, is a full-service property management business operating across the United States.
Summary
Work alongside experienced equity investments and asset management staff that specialize in structuring complex transactions across all real estate classes primarily throughout North America. Responsibilities will include supporting team members on the evaluation, underwriting, structuring, capitalization, financing, closing, and asset management of complex real estate equity investments and development opportunities.
Essential Functions
Equity Investments:
- Reviewing investment opportunities
- Preparing financial models in Argus and Excel to underwrite potential investment and development opportunities
- Developing and negotiating deal structures to mitigate risk
- Desktop diligence regarding asset classes and submarkets
- Market and site tours as part of underwriting and asset management process
- Presenting initial deal summaries during weekly investment group meetings
- Preparing and maintaining weekly pipeline materials
- Preparing presentation and marketing materials for discussions with potential investors
- Writing internal investment committee memos, and completing all related analysis and scenarios
- Cultivating and developing relationships with brokers, lenders, and attorneys to help close and asset manage transactions
Asset Management:
- Managing operations of assigned properties with direct and frequent communication with property managers
- Reviewing monthly property management reports to identify and resolve financial and operational issues
- Overseeing lender and other asset compliance requirements
- Preparing various quarterly asset management reports and write-ups for management, investors, and fund vehicles
- Performing cash flow and financial modeling, including determination of property net cash flow, property valuations, hold/sell analyses, investor IRR, and partner cash distributions and promotes
- Participating in tenant lease negotiations
- Supporting the due diligence process for acquisitions, dispositions, asset capitalization and debt financing transactions
- Managing capital improvement and value add projects
- Performing periodic market valuations of operating assets; assisting in annual audit process for various fund vehicles
Qualifications
- 2-4 years of relevant experience
- Must have a high level of proficiency with financial modeling and real estate valuation
- Proficient in Microsoft Office (Word, Excel, and PowerPoint) and Argus Software
- A positive attitude and strong work ethic
- Extremely detail-oriented and resourceful
- Exceptional organizational skills and ability to multi-task
- Proven ability to manage multiple projects and work well under time /other constraints
- Pride of ownership in end work product
- Superior verbal and written communication skills
- Exceptional analytical and problem-solving skills
- Ability to work well in a team environment, as well as independently
Travel
Travel as needed to cover markets, meet with brokers, lenders and potential capital sources, or otherwise help the firm achieve its business development or investment goals.
Additionally, periodic travel to operating assets is anticipated to successfully perform asset management responsibilities.
Required Education
Bachelor’s degree required.
Equal Employment Opportunity Statement
MREG evaluates qualified applicants without regard to race, color, age, national origin, religion, sex, sexual orientation, gender identity, disability, protected veteran status, and other statuses protected by law. To that end, we welcome applicants from all backgrounds.
Other Duties
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. This person should be nimble and be able to adjust to the ever-changing environment.
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