Goldman Sachs Bank USA seeks an Associate in New York to join the Urban Investment Group (UIG) Asset Management team within AMD Real Estate. UIG is a principal investing and lending platform that seeks to drive double bottom line returns by investing in underserved communities across the United States. The team makes debt and equity investments that finance real estate developments including mixed-income and affordable housing, retail, office, industrial and charter school facilities, and provides financing to student and small business lenders, among others. UIG also manages GS Bank USA’s Community Reinvestment Act program.
- Manage a portfolio of equity and tax credit 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 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
- 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
- Bachelor’s degree from a four-year college or university.
- Strong academic background – finance, real estate, accounting or math background preferred
- Minimum 3+ years of asset management and transaction experience, with asset management experience across multiple real estate product types preferred
- Solid modeling skills with Advanced Excel skills; 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 solve entrenched challenges facing underserved people and places
- Desire to create positive change through double-bottom-line investments in real estate / the built environment
- Interest in working collaboratively with the public sector, spanning municipal, state, and federal government, and navigating any resulting complexities
Source: Goldman Sachs Career Page
About Goldman Sachs
The Goldman Sachs Group, Inc. (NYSE: GS) is a U.S. financial services firm founded in 1869 by Marcus Goldman and Samuel Sachs. It is headquartered at 200 West Street in Lower Manhattan, New York City, NY. The company employs 34,000 employs across the world. Its main business lines include asset management, commercial banking, investment banking, investment management, and prime brokerage.
Goldman Sachs Realty Management Division (RMD) provides real estate investment services and asset management to investments where Goldman Sachs has an interest. The Realty Management Division has offices in the Americas as well as in Europe, Asia, and Australia and is organized into six business units including Hospitality, Loan Asset Management, Real Estate Credit Investing, Portfolio Management, Real Estate Asset Management, and Residential Mortgage Asset Management.