Senior Associate, Portfolio Management, Real Estate Investors

New York Life•New York, NY

1d•$125,000 - $140,000•Hybrid

About The Position

The Portfolio Associate supports three portfolio managers and the broader portfolio management team across the Madison Square Structured Investment Vehicle, Madison Square Structured Debt Fund, and Madison Square Value Enhancement Fund. The role also contributes periodically to the General Account and Madison Core Property Fund portfolios. These commercial real estate private equity and debt portfolios include approximately 175 direct investments throughout the United States, spanning core, core-plus, value-add, and opportunistic strategies, along with limited alternative, preferred equity, and debt investments. Procuring real estate loans, including back leverage on loan investments, is also a key part of the role. The Portfolio Associate is expected to contribute to the growth of the platform. New York Life Real Estate Investors is the real estate investment platform within New York Life Investment Management. It invests across real estate equity, debt, and securities strategies for institutional investors and the New York Life General Account. The organization states that it incorporates sustainability best practices into its investment principles to support favorable long-term relative returns for clients. The position is designated hybrid, with four days per week in the office. It is exempt and eligible for a discretionary bonus. The listed salary range is $125,000–$140,000; actual base salary depends on factors including experience, skills, qualifications, and job location.

Requirements

College degree, preferably in an investment- or quantitatively oriented discipline.
Four to eight years of investment experience in commercial real estate private equity and debt.
Solid understanding of investment theory and quantitative methods.
Strong working knowledge of Excel.
Experience working with discounted cash flow models, typically in ARGUS Enterprise or Excel, and willingness to become proficient in ARGUS Enterprise.
Ability to write quickly and effectively, with a strong grasp of grammar, syntax, and style, for internal and external stakeholders.
Attention to detail.
Ability to analyze and summarize large amounts of information, identify key components, and make informed estimates when needed.
Ability to work effectively with senior management and colleagues in asset management, acquisitions, accounting, research, legal, and IT.
Ability and comfort in making oral presentations.
Ability to work independently and prioritize the decisions and tasks with the greatest impact for the organization and team.

Nice To Haves

CFA Level 1 or higher; an MBA with relevant coursework may suffice otherwise.
Experience procuring and managing commercial real estate debt.
Advanced Excel proficiency with AI-enhanced optimization experience, including expertise in advanced Excel functions and the ability to use AI tools to generate or refine complex formulas.

Responsibilities

Complete detailed consultant and investor requests for quantitative information efficiently and accurately.
Develop the ability to form and justify buy, hold, or sell opinions using evidence such as an asset’s discounted cash flow model, submarket outlook, and other relevant factors.
Research the economy, local and national real estate markets, and existing and potential investments.
Participate in discussions about portfolio management and investment strategy.
Participate in, and occasionally present during, presentations to consultants, prospective investors, and the New York Life Investment Management real estate investment committee.
Occasionally travel for property visits and real estate conferences.
Support the portfolio management team in producing cash flows and other financial projections.
Identify ways to streamline or automate data-intensive analyses, including performance attribution and ranking potential investment markets.
Collaborate across departments to provide support or guidance and obtain needed information.
Support three portfolio managers and the broader portfolio management team in portfolio management for the Madison Square Structured Investment Vehicle, Madison Square Structured Debt Fund, and Madison Square Value Enhancement Fund, with periodic contributions to the General Account and Madison Core Property Fund portfolios.
Assist in procuring real estate loans, including back leverage on loan investments.