Associate, Debt Strategies

COMPANY DESCRIPTION

Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 27 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With nearly $12 billion in assets under management, Lightstone’s portfolio currently includes over 15 million square feet of industrial, logistics, life sciences, and commercial properties, over 25,000 residential units, and over 5,100 hotel keys.

For more information, please visit www.lightstonegroup.com.

LIGHTSTONE CAPITAL DESCRIPTION

Lightstone Capital (“LSC”) is an alternative commercial real estate lender primarily focused on direct origination of first mortgage bridge loans on transitional commercial real estate assets inclusive of all real estate sectors and domestic U.S. geographies. LSC is a fully integrated lender managing the origination, underwriting/execution, asset management, and loan servicing processes in house. LSC’s corporate headquarters is located in NYC with satellite offices in Miami and Los Angeles. Though the primary focus of LSC is first mortgage bridge loans, LSC has also been active in mezzanine, note-on-note, and preferred equity investments and continually seeks unique investment opportunities to produce outsized returns. The Debt Strategies Associate will work in supporting the origination and deal execution teams on the screening, underwriting, and closing process for new investments and will remain involved in the deals through their life cycle.

Position Specification

ASSOCIATE, DEBT STRATEGIES

The successful candidate will be responsible for supporting the West Coast Director of Originations & debt strategies group, supporting the origination and deal execution teams on the screening, underwriting, and closing process for new investments and will remain involved in the deals through their life cycle. The ideal candidate is a motivated self-starter with a strong work ethic and desire to work in a fast-paced, team oriented and entrepreneurial environment. Candidates must have significant underwriting and direct real estate debt investment experience.

This position is available for immediate hire and will report to the Director, Originations, West Coast based in LA.

KEY RESPONSIBILITIES

• Responsible for supporting the debt strategies team in underwriting and executing new investments for a wide range of commercial real estate transactions. Investments include senior bridge loans, mezzanine loans, and preferred equity backed by virtually all property types throughout the US.

• Prepare financial and text analysis on a wide array of real estate debt transactions; organize and manage due diligence and offering materials during the marketing and closing processes; interface with lenders, developers, investors, attorneys, and 3rd parties

• Build Excel models and prepare committee packages for the evaluation of new CRE loan originations and investments. Evaluate investment merits and risks, market dynamics, and projected investment returns.

• Create Excel models including cash flow projections, multi-tier IRR waterfall models, sources and uses, project budgets, rent rolls, historical operating statements, rent comps, sales comps, lease expiration schedules, stacking plans, amortization schedules, etc.

• Assist in the structuring and closing of CRE debt transactions. Credit, legal, market and other diligence.

• Lead and manage the due diligence efforts through the closing process.

• Oversee transaction execution, including negotiation of loan documentation.

• Draft investment memorandums and assist in presenting opportunities to investment committee.

• Assist in asset management efforts including business plan and asset valuation updates, as well as property inspections.

• Assist in developing and maintaining the firm’s relationships with real estate brokers, key mortgage bankers, commercial banks, real estate brokers, developers and investors, and other sources of third-party commercial mortgage loan origination opportunities.

• Participate in deal origination as is appropriate

KEY ATTRIBUTES/EXPERIENCE

• Minimum of 1-3 years of relevant commercial real estate debt investment or investment brokerage experience that directly requires valuation of real estate.

• Self-starter who has the initiative and ability to thrive in an environment that is highly entrepreneurial, multitasking and prioritizing under tight deadlines.

• Strong analytical and quantitative skills, including advanced modeling and financial analysis.

• Ability to understand and interpret complex business documents including financial reports and contracts with the capacity to analyze variances.

• Excellent deal execution skills, including due diligence, communicating with external parties, and financial abilities.

• Demonstrated ability to identify key risks, recognize opportunities, and effectively problem solve.

• Excellent oral and written communication skills; presence and poise.

• Curious, creative thinker with the ability to think outside the box to find solutions while remaining humble enough to seek assistance when needed

• Well-organized; strong independent work ethic with an excellent attention to detail.

• Proficient in Microsoft Office Suite with an expertise in Excel; familiarity with common commercial real estate data sources (i.e. CoStar, GreenStreet, etc.), ARGUS is a plus.

• Bachelor’s degree in Real Estate, Finance, or Accounting from a top institution with demonstrated academic excellence. Advanced degree in Real Estate, Finance, or Accounting a plus.

Salary - $125 - $150k, plus bonus, offered salary commensurate with experience

Lightstone offers our employees a comprehensive and competitive benefits program inclusive of:

– Paid time off for vacation and sick leave
– Health, dental, and vision insurance, and wellness programs
– 401(k) and Roth retirement plans
– Flexible spending accounts (medical & dependent care)
– Life and AD&D insurance with options for supplemental employee, spouse, and child
– Long-term and short-term disability insurance
– Commuter spending accounts (transit and parking)
– Tuition assistance and employee assistance program
– Corporate discount programs