Asset & Wealth Management, Urban Investing Group, Real Estate Associate - New York

Goldman Sachs•New York, NY

12d•$150,000 - $225,000•Onsite

About The Position

Goldman Sachs Asset Management brings together traditional and alternative investments, providing clients around the world with a dedicated partnership and focus on long-term performance. As the firm’s primary investment area, it provides investment and advisory services for leading pension plans, sovereign wealth funds, insurance companies, endowments, foundations, financial advisors, and individuals, overseeing more than $2 trillion in assets under supervision. The Urban Investment Group (UIG), established in 2001 within Goldman Sachs Asset & Wealth Management, focuses on tax credit equity investments, real estate investments and loans, and provides senior loan facilities to empower underserved communities and enable long-term equitable growth. UIG manages investing and lending strategies for GS Bank USA’s Community Reinvestment Act requirements and the firm’s investments in Opportunity Zones, and significantly contributes to the firm’s One Million Black Women and 10,000 Small Businesses initiatives. Real estate investments span opportunistic ground-up development to core plus acquisitions of affordable and workforce housing portfolios, with over $23 billion committed to create access to affordable housing, healthcare, education, and capital for low-income people and small businesses. This role is for an Associate to join the Dallas team within Real Estate.

Requirements

Bachelor’s degree from a four-year college or university
Strong academic background - finance, real estate, accounting or math background preferred
At least 2-3 years of real estate experience
Advanced real estate modelling skills with Excel; experience with Argus a plus
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 to 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

Nice To Haves

experience with Argus

Responsibilities

Support senior members of the asset management team to manage a portfolio of Real Estate Equity, Debt, Letters of Credit and LIHTC investments that finance real estate developments including mixed-income and affordable housing, retail, office, industrial and charter school facilities.
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 and growing relationships with third parties, including operating partners, brokers and property management companies.
Prepare business plans, maintaining internal asset performance models, oversight of third-party service providers, capital plan oversight, and business plan execution.
Support execution of debt strategies to maximize value through effective loan asset management.
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.