Associate, Real Estate Equity
Ares Management, New York, NY, United States
Ares Real Estate Equity Associate
Over the last 20 years, Ares' success has been driven by our people and our culture. Today, our team is guided by our core values collaborative, responsible, entrepreneurial, self-aware, trustworthy and our purpose to be a catalyst for shared prosperity and a better future. Through our recruitment, career development and employee-focused programming, we are committed to fostering a welcoming and inclusive work environment where high-performance talent of diverse backgrounds, experiences, and perspectives can build careers within this exciting and growing industry. This position will be a key member of Ares' real estate private equity team. The associate will assist in assessing real estate investments for our diversified real estate investment funds, including the acquisition and development of industrial, multifamily, office, retail, hotel, and adjacent property sectors throughout key markets in the United States. The associate will be primarily responsible for underwriting and financially analyzing each opportunity, as well as performing property and market due diligence and playing an active role in the asset management and sale of the fund's investments. We are seeking someone who understands the importance of the technical skills relative to underwriting and asset analysis but will also eventually be able to take a front seat in sourcing new deals and building/maintaining relationships within the real estate industry across various markets. Essential duties include: Create detailed and complex financial underwriting models for the acquisition and development of real estate investments across the risk spectrum. Perform asset-level and market-level due diligence. Develop thorough understanding of a deal's capital structure and business plan and key risks to performance through discussions with sponsors, market participants and investment professionals. Understand physical characteristics of properties, and the related competitive advantages and disadvantages. Understand and critically evaluate the existing and potential operating characteristics of a project (revenue, expenses, capital expenditures, tenant credit, leases). Identify a project's demand drivers; gather market information through independent field work and direct contact with brokers, appraisers, and developers. Synthesize information and draw a conclusion on future market rent, absorption, vacancy, and liquidity in the investment market. Critically assess the execution ability of the development team for a project. Communicate conclusions into a comprehensive narrative to be presented to senior management for consideration and approval. Participate in underwriting and investment committee discussions. Participate in and provide support for the ongoing asset management of each investment, including financing and refinancing, major asset-level decisions, and the eventual sale of each property. Review legal documentation in concert with team and counsel throughout the negotiation process. Required knowledge, skills and abilities include: Bachelor's degree or international equivalent in business, finance, real estate, or related field with exceptional academic credentials. 2-4 years of finance experience. Previous experience in real estate investment banking or real estate private equity preferred. High level of expertise in Excel; ARGUS proficiency helpful but not required. Self-motivated and driven; ability to work effectively in a collegial, fast moving, demanding, and dynamic environment. Willingness and ability to travel required. Expertise in PowerPoint. Creative problem solver. Excellent communication skills. Strong interpersonal skills. Attention to detail. Impeccable integrity and trustworthiness. Compensation: The anticipated base salary range for this position is $155,000.00 - $175,000.00. Total compensation may also include a discretionary performance-based bonus. Ares offers robust benefits including comprehensive medical/rx, dental and vision plans; 401(k) program with company match; flexible savings accounts (FSA); healthcare savings accounts (HSA) with company contribution; basic and voluntary life insurance; long-term disability (LTD) and short-term disability (STD) insurance; employee assistance program (EAP), and commuter benefits plan for parking and transit. Ares offers a number of additional benefits including access to a world-class medical advisory team, a mental health app that includes coaching, therapy and psychiatry, a mindfulness and wellbeing app, financial wellness benefit that includes access to a financial advisor, new parent leave, reproductive and adoption assistance, emergency backup care, matching gift program, education sponsorship program, and much more.
Over the last 20 years, Ares' success has been driven by our people and our culture. Today, our team is guided by our core values collaborative, responsible, entrepreneurial, self-aware, trustworthy and our purpose to be a catalyst for shared prosperity and a better future. Through our recruitment, career development and employee-focused programming, we are committed to fostering a welcoming and inclusive work environment where high-performance talent of diverse backgrounds, experiences, and perspectives can build careers within this exciting and growing industry. This position will be a key member of Ares' real estate private equity team. The associate will assist in assessing real estate investments for our diversified real estate investment funds, including the acquisition and development of industrial, multifamily, office, retail, hotel, and adjacent property sectors throughout key markets in the United States. The associate will be primarily responsible for underwriting and financially analyzing each opportunity, as well as performing property and market due diligence and playing an active role in the asset management and sale of the fund's investments. We are seeking someone who understands the importance of the technical skills relative to underwriting and asset analysis but will also eventually be able to take a front seat in sourcing new deals and building/maintaining relationships within the real estate industry across various markets. Essential duties include: Create detailed and complex financial underwriting models for the acquisition and development of real estate investments across the risk spectrum. Perform asset-level and market-level due diligence. Develop thorough understanding of a deal's capital structure and business plan and key risks to performance through discussions with sponsors, market participants and investment professionals. Understand physical characteristics of properties, and the related competitive advantages and disadvantages. Understand and critically evaluate the existing and potential operating characteristics of a project (revenue, expenses, capital expenditures, tenant credit, leases). Identify a project's demand drivers; gather market information through independent field work and direct contact with brokers, appraisers, and developers. Synthesize information and draw a conclusion on future market rent, absorption, vacancy, and liquidity in the investment market. Critically assess the execution ability of the development team for a project. Communicate conclusions into a comprehensive narrative to be presented to senior management for consideration and approval. Participate in underwriting and investment committee discussions. Participate in and provide support for the ongoing asset management of each investment, including financing and refinancing, major asset-level decisions, and the eventual sale of each property. Review legal documentation in concert with team and counsel throughout the negotiation process. Required knowledge, skills and abilities include: Bachelor's degree or international equivalent in business, finance, real estate, or related field with exceptional academic credentials. 2-4 years of finance experience. Previous experience in real estate investment banking or real estate private equity preferred. High level of expertise in Excel; ARGUS proficiency helpful but not required. Self-motivated and driven; ability to work effectively in a collegial, fast moving, demanding, and dynamic environment. Willingness and ability to travel required. Expertise in PowerPoint. Creative problem solver. Excellent communication skills. Strong interpersonal skills. Attention to detail. Impeccable integrity and trustworthiness. Compensation: The anticipated base salary range for this position is $155,000.00 - $175,000.00. Total compensation may also include a discretionary performance-based bonus. Ares offers robust benefits including comprehensive medical/rx, dental and vision plans; 401(k) program with company match; flexible savings accounts (FSA); healthcare savings accounts (HSA) with company contribution; basic and voluntary life insurance; long-term disability (LTD) and short-term disability (STD) insurance; employee assistance program (EAP), and commuter benefits plan for parking and transit. Ares offers a number of additional benefits including access to a world-class medical advisory team, a mental health app that includes coaching, therapy and psychiatry, a mindfulness and wellbeing app, financial wellness benefit that includes access to a financial advisor, new parent leave, reproductive and adoption assistance, emergency backup care, matching gift program, education sponsorship program, and much more.