Fund Senior Associate
Building and Land Technology (BLT) is a privately held, vertically integrated, mixed use real estate development, property management and private equity firm (www.bltoffice.com). BLT was founded in 1982 and has developed, owned and managed over five million square feet of commercial space and over 4,500 residential units. BLT office holdings include the corporate headquarters for Gen Re, GE Commercial Finance, Diageo, GE Real Estate, Xerox, GE Energy, Design Within Reach, Kayak Software, AON/Hewitt, Starwood Hotels and Resorts, and structured portfolio management. BLT’s numerous office parks, apartment complexes, single family subdivisions, common interest communities and adaptive reuse projects total in excess of 8,000,000 square feet of development throughout Fairfield County. BLT is also the developer of Harbor Point, a transformative mixed-use development in Stamford, CT. One of the largest redevelopments on the eastern seaboard, Harbor Point encompasses an entire neighborhood, with more than 4,000 residential units and several million square feet of commercial development. BLT’s holdings include more than 100 active real estate companies, a majority interest in William Pitt Sotheby’s residential brokerage firm with 28 offices and 1,100 agents, a mortgage and insurance company as well as numerous private equity investments.
Fund Overview
Building and Land Technology’s Real Estate Private Equity Group (“The Fund”) was launched in 2011 to capitalize on the unique position of the real estate investment cycle. Since inception, The Fund, has sought to utilize the historic strengths of Building and Land Technology’s executive team while investing across various asset types, either in direct transactions or via joint venture operating partners. Assets under management include: the largest historic renovation in New Jersey (The Beacon), the premier mixed-use development in the Northeast (HarborPoint), signature office buildings and market-leading residential developments. Additionally, in July 2012, the Fund created BLT Homes to capitalize on the single family housing market dislocation. BLT Homes has acquired over 7,000 homes and is a leading player in the sector, creating value and rebuilding communities through single family home rentership. The distinguishing characteristics of The Fund are the ability to efficiently identity and swiftly react to investment opportunities across the US. The Fund’s holdings are diversified by asset type and geography, with investments in 20 states.
The Fund Senior Associate would report to the Managing Director.
Responsibilities
• Serve as a critical member of BLT Funds’ transaction team.
• Provide financial modeling, deal underwriting and analysis, market research, transaction due diligence, and approval memoranda for acquisitions, restructurings, and dispositions
• Independently develop financial models, including property-level budgets, financial proformas, cash flow waterfalls, and sensitivity analyses for debt and equity investment opportunities
• Prepare approval memos for submission to the Investment Committee with a comprehensive analysis of the asset, economics, market conditions, and investment alternatives
• Partner with deal team in development of pricing, bid strategies and participation in client meetings
• Report findings prior to the end of the due diligence period and provide an assessment of risks and mitigants on each transaction
• Act as a liaison with Asset Management to ensure all post-closing items are completed and all BLT departments or third parties are prepared to execute on the business plan.
• Be accountable as a primary BLT resource for transition issues and communications with the Seller or Buyer
• Remain involved in owned investments on a go-forward basis to ensure continuity from acquisition, asset management, to disposition
• Produce materials for monthly asset management reviews, Investor Reporting packages
• Complete financial analyses for capital expenditures, re-financings, leasing
• Enhance the overall acquisition business process to insure timely and accurate analysis is developed, delivered and reported for decisions to be made effectively
Qualifications
• Bachelor’s Degree in accounting, finance, engineering or similar technical discipline preferred
• MBA in Finance or Real Estate preferred
• 5-7 years experience in real estate with a focus on valuation, modeling and financial analysis
• Experience underwriting, structuring and closing complex transactions across various asset types.
• Strong familiarity with market research providers and ability to access and utilize market research sources to formulate analyses
• Prior experience in overseeing analysts and support staff through deal process
• Experience in budgeting, financial analysis and portfolio review
• Experience in working in a cross-functional group, project management and/or process improvement
• Strong sense of urgency and ability to meet deadlines is a must
• Expert experience with Microsoft Excel and PowerPoint
