About the position
Goldman Sachs Bank USA seeks a Vice President in New York to join the Urban Investment Group (UIG) Asset & Wealth Management team within Real Estate. Established in 2001, the Urban Investment Group (UIG) within Goldman Sachs Asset & Wealth Management makes tax credit equity investments, real estate investments and loans, and provides senior loan facilities in order to empower underserved communities and enable long-term equitable growth. UIG manages the investing and lending strategies for GS Bank USA's Community Reinvestment Act requirements and the firm's investments in Opportunity Zones and is a significant contributor to the firm's One Million Black Women and 10,000 Small Businesses initiatives. Real estate investments range from opportunistic ground-up development to core plus acquisitions of affordable and workforce housing portfolios. UIG has committed $21 billion to create access to affordable housing, healthcare, education, and capital for low-income people and small businesses.
Responsibilities
- Manage a portfolio of equity investments that finance real estate developments including mixed-income and affordable housing, retail, office, industrial and charter school facilities, in addition to select debt & LIHTC transactions.
- Support senior members of the team in operating, maximizing value and reporting on assets.
- Key responsibilities include internal asset valuation modeling, business plan preparation and execution, developing monthly cash flow projections, supporting leasing strategy, collecting financials and reviewing budgets, preparing monthly and/or quarterly reporting, and working with third parties, including operating partners, brokers and property management companies.
- Build and manage relationships with external operating partners and internal counterparts across GS's real investing and asset management platform.
- Develop asset strategy, including financial and asset performance data, in conjunction with AM leadership, investing personnel and operating partners.
- Support execution of asset strategies to maximize value through market / product knowledge and value-add strategies.
- Lead asset disposition efforts including: contract negotiation, writing investment committee memorandums, presenting to investment committee, finalizing disposition models, calculating waterfall returns, transaction management and closing.
- Drive exits and compliance/covenants monitoring on tax credit equity and debt transactions.
- Research/evaluate market trends, rental rates and occupancy trends to update investment assumptions within models.
- Conduct in-depth market and portfolio analyses; understand industry trends.
- Engage and provide oversight of third parties which perform the day-to-day operations of the assets, including, but not limited to operating partners and property management companies; conduct weekly / monthly calls and asset visits.
- Work closely with internal stakeholders such as Finance, Compliance and Legal.
- Maintain performance reports for internal tracking and reporting.
- Provide technical training to junior team members, and support for their development and growth within the team and firm.
Requirements
- Bachelor's degree from a four-year college or university.
- Minimum 5+ years of equity asset management and transaction experience, with asset management experience across multiple real estate product types.
- Solid real estate modeling skills with Advanced Excel skills; experience with Argus a plus.
- Strong academic background - finance, real estate, accounting or math background preferred.
- Analytical / logical mindset and high attention to detail.
- Strong written and verbal communication skills with the ability to present strategies and business decisions clearly and concisely, manage internal and external relationships.
- Ability to work in a fast-paced, challenging environment; ability to prioritize.
- Self-motivated with ability to work both autonomously and in a team setting.
- Passion for helping solve entrenched challenges facing underserved communities.
- Desire to create positive change through double-bottom-line investments in real estate impact investing.
- Interest in working collaboratively with the public sector, spanning municipal, state, and federal government, and navigating any resulting complexities.
Benefits
- Competitive benefits and wellness offerings.
