Hawthorne - Operating Associate - Real Estate

Davidson Kempner•New York, NY

4d•$130,000 - $150,000•Onsite

About The Position

We are currently looking to hire an Operating Associate to join the Hawthorne Real Estate team in New York. The Associate will focus on driving value at both the asset and portfolio level—including across distressed and growth assets—as well as at the operating company and platform level. The Associate will work on value-creation, value-protection and special-situations opportunities across Davidson Kempner’s Real Estate and Structured Credit investments. The successful candidate will have a strong quantitative background and a well-rounded understanding of value drivers across multiple real estate subsectors. The Associate will possess a high level of competence in financial modelling, analysis, data management, reporting, and property- and portfolio-level performance metrics. The individual should be comfortable assessing investments from both a credit and an asset-level perspective.

Requirements

Three to five years of relevant real estate investing experience
Knowledge of credit strategies or structured products would be beneficial
Experience in real estate private equity, private credit, investment banking, asset management or another institutional real estate investing environment
Exposure to multiple real estate asset classes would be beneficial
Experience creating cash-flow models and working with asset- and loan-level data
Experience and comfort working with large datasets, databases and data-visualisation tools
Strong quantitative, analytical and financial-modelling skills
Strong written and verbal communication skills, including the ability to present analytical findings clearly to senior colleagues
Bachelor’s degree in finance, business, economics, mathematics or a related quantitative discipline

Nice To Haves

knowledge of credit strategies or structured products would be beneficial
exposure to multiple real estate asset classes would be beneficial

Responsibilities

Designing, amending and updating financial models using Excel, Argus and other relevant tools; running scenarios and producing outputs for internal and external purposes, including:
Creating and auditing frameworks and models to support asset management initiatives
Performing sensitivity and scenario analyses
Assessing the quality of sell-side and operating-partner models
Building ad hoc DCF models for individual assets and portfolios
Supporting the investment team with operational diligence, underwriting and analysis
Liaising with operating partners and evaluating a range of scenarios, including potential exit strategies
Working with large asset-, loan- and operating-level datasets, drawing key conclusions and presenting findings to management through appropriate reporting and data-visualisation tools
Monitoring asset and portfolio performance
Supporting value-creation, value-protection and other strategic initiatives across assets, portfolios and operating platforms