Annaly Capital Management, Inc. (“Annaly”) is a leading diversified capital manager that invests in and finances residential and commercial assets. With a market capitalization over $12 billion and assets under management in excess of $100 billion, the Company’s portfolio includes securities, loans and equity in both the residential and commercial markets across four distinct businesses - Agency, Residential Credit, Commercial Real Estate and Middle Market Lending. The advantage of Annaly’s diversified shared capital model – similar to that of global private equity, hedge fund and alternative asset management firms - is the mandate to invest opportunistically across markets and capital structures and deliver attractive risk-adjusted returns throughout various economic cycles. Since 1997 when Annaly established itself as a publicly traded entity (NYSE: NLY), it has demonstrated its outperformance through over $16 billion in dividends paid and over 800% return to its shareholders.
We believe the foundation of this success is our intellectual capital – our talented and capable employees. With a nimble team of under 200 employees, Annaly seeks and values professionals who are innovative, experienced, driven and dynamic. If you are interested in learning more about the Company, please visit
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). The Analyst will work in two to three person deal teams, and must be able to both work well within a team and be comfortable operating with limited direction. 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 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, RCA, Compstak, 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. Prior internship and related experience will be considered)
- Proficiency in the Microsoft Office suite of products – Excel, Powerpoint, Word
- Above average analytical and critical thinking skills
- Strong written and communication skills
- 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 and self-motivated
- 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, RCA, Compstak, 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 Los Angeles, CA, role is based in LA
- 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
- Must have valid Driver’s License and reasonable means of transportation (Travel will be required)
- Hospitality / Entertainment
1+ to 2 years
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