Asset & Wealth Management, Urban Investing Group, Real Estate Associate - Dallas

About the Role

The Urban Investment Group (UIG) within Goldman Sachs Asset & Wealth Management makes tax credit equity investments, real estate investments and loans, and provides senior loan facilities in order to empower underserved communities and enable long-term equitable growth. UIG manages the investing and lending strategies for GS Bank USA's Community Reinvestment Act requirements and the firm's investments in Opportunity Zones and is a significant contributor to the firm's One Million Black Women and 10,000 Small Businesses initiatives. Real estate investments range from opportunistic ground-up development to core plus acquisitions of affordable and workforce housing portfolios. UIG has committed over $23 billion to create access to affordable housing, healthcare, education, and capital for low-income people and small businesses.

Responsibilities

• Support senior members of the asset management team to manage a portfolio of Real Estate Equity, Debt, Letters of Credit and LIHTC investments that finance real estate developments including mixed-income and affordable housing, retail, office, industrial and charter school facilities
• Support senior members of the team in operating, maximizing value and reporting on assets
• 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 and growing relationships with third parties, including operating partners, brokers and property management companies
• Prepare business plans, maintaining internal asset performance models, oversight of third-party service providers, capital plan oversight, and business plan execution
• Support execution of debt strategies to maximize value through effective loan asset management
• 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

Qualifications

• Bachelor's degree from a four-year college or university
• Strong academic background - finance, real estate, accounting or math background preferred
• At least 2-3 years of real estate experience
• Advanced real estate modelling skills with Excel; 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 to solve entrenched challenges facing underserved communities
• Desire to create positive change through double-bottom-line investments in real estate impact investing
• Interest in working collaboratively with the public sector, spanning municipal, state, and federal government, and navigating any resulting complexities