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Within the Global Banking & Markets Division (GBM) our Real Estate Financing Group originates, structures, and executes bank loan and bond financings for our clients, being generally commercial real estate investors and financial sponsors, including acquisitions, refinancing, development lending, M&A transactions and restructurings. The team operate across multiple asset classes and sub-sectors, including traditional CRE assets (logistics, office, retail, hospitality and multi-family), and more esoteric CRE assets (healthcare facilities, cold storage facilities and datacenters).
The group works closely with multiple areas of the firm including Classic Investment Banking, Credit and Capital Markets. Real Estate Finance Associates develop strong fundamental credit, modelling and risk management skills as well as in-depth knowledge in the commercial real estate market.
Day-to-Day Responsibilities:
The candidate will gain valuable transaction experience through underwriting CRE assets, negotiating loan documents, loan execution and structuring loans into bonds sold to investors. Additionally, the candidate will gain exposure to a variety of investors, through the sales of bonds, mezzanine loans, and potentially loan syndications.
The candidate is expected to exhibit strong modeling skills, provide seamless communication between deal teams and clients, and exhibit a meticulous eye for detail. Associates should be well versed in the various sectors of real estate and have a comprehensive understanding of how to underwrite CRE cash flows and structure the appropriate level of debt whilst also understanding the various nuances of the various CRE markets across Europe.
Why Consider the Real Estate Financing Team?
- Strong Asset Level Analysis: Opportunity to gain perspective and knowledge on how asset level transactions take place and learn the intricacies of how CRE investors think about investment opportunities.
- Diverse Client Base: Clients of REFG vary from Private Equity & Debt Funds and large institutional REITs to smaller family-owned platforms. The breadth of transactions and financing sizes allow junior bankers to gain experience quickly through coordinating larger transaction processes and playing a larger role on smaller transactions.
- Principal Nature of the Business: REFG has the ability to hold high quality real estate loans on balance sheet for investment purposes.
- Small Team Benefits: Small deal teams allow junior bankers to take on outsized responsibility and gain unparalleled senior exposure. Junior Bankers work directly with VPs and MDs on their transactions. Junior Bankers have the opportunity to gain exposure to all aspects of the financing business from deal sourcing to capital markets execution.
- Close integration with Real Estate Classic Counterparts: REFG works side-by-side with both the Classic team as well as with our ECM/DCM counterparts, allowing for seamless communication and deal execution. Due to this close-knit relationship, there have been several opportunities where both groups have leveraged relationships to bring in other partners into a transaction. This has included transactions where the desk has partnered on NPL financings for Private Equity Sponsors and working on P2P acquisition financings for listed REITs.
Qualifications:
- Strong academic record with minimum Bachelor’s degree in Finance, Economics or a related discipline required
- 4-6 years experience in real estate finance or related jobs within the UK and European Real Estate Markets is essential
- Experience of analysing large data sets, underwriting, reviewing legal documents and reports required for real estate assets
- Must have experience of building financial models, risk management, tenant analysis
- Experience of conducting real estate due-diligence required
- Strong client relationship management skills required
- Must be a proficient user of MS Excel
- Drive, enthusiasm, creativity and excellent interpersonal skills required
- Must have strong quantitative and technical abilities
- Personal integrity, initiative and leadership qualities required
- Must has strong communication skills (verbal and written)
- Multi-tasking and time management skills required
- Must be a team-player
Source: Goldman Sachs Career Page
