Working Environment:
The Real Estate Analyst & Junior Portfolio Manager will join a regulated Alternative Investment Fund Management company (AIFM) based in Luxembourg managing various asset classes globally.
The successful candidate will be part of the team dedicated to the management of a pan-European Real Estate Investment Fund with assets worth several hundred of million Euro. The Fund has more than 10 years of existence and the team of 4 people has a solid track record in investing, managing, financing, and divesting real estate assets across Europe with exposure to various asset classes (Office, logistics, hotels).
Summary:
The Real Estate Analyst & junior Portfolio Manager will support the team for (i) the analysis of new investment opportunities across Europe (ii) the portfolio management of Fund’s assets in France, Germany, and Ireland and (iii) the internal and external (towards banks) reporting and performance analysis of the Fund.
The role gives the opportunity to acquire excellent analytical, operational, and investment skills in Real Estate Investment with a pan-European exposure.
Candidate profile:
- The successful candidate should have a minimum of 2 years of experience related to direct real estate investment within an asset management firm or investment management firm or a tier-1 real estate advisory firm (investment banking/big 4/capital markets/valuation).
- Good command of real estate finance concepts is required. In particular, the candidate must have strong Excel and real estate financial modelling skills.
- The candidate should also have an excellent written and oral English level and a business level knowledge of French or Italian. German or Spanish is a plus but not mandatory.
- Flexible mindset, team spirit, sense of confidentiality and strong ethics are a must.
Detailed scope of duties
A) Deal analysis and execution
- Financial analysis of potential transactions: market assessment, financial/operating statements review, rent roll analysis, comparable analysis,
- Valuation and financial modeling (DCF) of returns on investment
- Support the team in the due diligence, financing, structuring, and closing of new investment or divestment transactions
- Preparation of investment memoranda for the investment committee
- Feed and update Dealflow tracking files
- Preparation of presentations presenting the new deals understudy for the monthly investment committees
B) Portfolio management with a focus on France / Germany / Ireland / Italy
- Manage regular interactions with asset managers and property managers
- Manage regular interactions with leasing agents and assist in lease negotiations
- Review annual budgets prepared by the asset manager for each property
- Collect from the asset manager and review quarterly updates of the annual cash-flow
- Collect from the asset manager and review quarterly cash requests for the properties
- Collect and review operational reports prepared by the asset manager
- Review and analyze operating statements and annual accounts of properties with the assistance of the Finance team
- Support the team in the analysis and closing of refinancing opportunities within the portfolio
- Identify critical financial issues / operating inefficiencies of the portfolio and recommend areas for value-added opportunities
- Conduct financial analysis and develop recommendations for leases negotiations, operating costs, and extraordinary CAPEX
- Complete property site visits and inspections
- Review all key contracts related to the properties, in particular, lease agreements/addendums with the asset managers / legal advisors
C) Reporting
- Feed and update Asset and Fund levels financial performance files (IRR, Cash-on-Cash, ROIC) based on financial reporting collected from the asset managers
- Feed and update operational performance files of the portfolio (Rents, NOI, Occupancy, WAULB)
- Manage the reporting obligations towards banks and assist the Finance team in the preparation and review of financial covenants certificates
- Update models calculating portfolio cash flows and covenant projections
- Prepare quarterly presentations for the board of managers of the Fund summarizing (i) the operational and financial performance of the Fund, (ii) updates on key real estate markets across Europe, (iii) the investment activity as well as (iv) updates on the portfolio managed by the Analyst
- Gather real estate and investment market news and data and provide a bi-annual summary
- Benchmark:
- Collect and send the data for the preparation of the private index benchmark with an external service provider
- Collect the data for the preparation of the public index benchmark with internal team members
- Complete ad-hoc analysis depending on needs (new financing, cash policy updates)