Associate, REI New York
Make an impact at a global dynamic investment organization
When you invest in your career at CPPIB, you become part of one of the fastest growing institutional investors in the world, with current assets under management valued in excess of $180 billion. Guided by our purpose to invest on behalf of 18 million contributors and beneficiaries of the Canada Pension Plan, we are independent, accountable and focused on performance.
At CPPIB, you can look forward to:
- Working with world-class talent with diverse backgrounds and deep experience.
- A team-oriented approach that recognizes high performance and values integrity.
- Global career development opportunities with offices in Toronto, London and Hong Kong and future offices in New York and São Paulo. In January 2014, the CPPIB will be opening a first US office in New York City, where the position outlined in this posting will be stationed
- Building a diverse, actively managed investment portfolio with a long-term approach.
If you share our sense of purpose, here’s an opportunity for you to invest your career at CPPIB.
Role Summary
We are presently recruiting for an Associate in the Real Estate Investments department in New York, NY. Reporting to the Director, Real Estate Investments (REI) - Americas, the Associate is responsible for assisting the Director-REI, the Portfolio Manager-Multifamily, and the wider REI team by evaluating potential real estate investment opportunities in the US, with a major focus on the Multifamily property sector; developing real estate investment analysis and financial information in the form of memos and financial models, and providing recommendations; participating in negotiations on various investments and relationships, including purchase agreements and joint venture documents; monitoring and managing investments; and leveraging relationships.
Role-Specific Accountabilities
Analyze Real Estate Investment Opportunities:
- Conducts property sector analysis and due diligence on potential partner relationships and investments; assist senior staff in the selection, evaluation and on-going monitoring of relationships and investments
- Builds complex financial models to analyze opportunities (includes testing assumptions and sensitivities)
- Examines Joint Ventures, “club deals” and other investments, as well as financial structures, using computer models and other quantitative analytical tools
- Develops investment summaries and recommendations outlining potential investment opportunities, including expected risks and returns and real estate dynamics
- Reviews 3rd party due diligence reports (strategic reviews, property, legal, accounting, environmental, etc.)
- Reviews investment performance, strategy, outlook, real estate industry issues, and other relevant topics
Execute Real Estate Investments:
- Manages specific aspects of the execution of the real estate investment opportunity
- Participates in negotiating terms and conditions with respect to investments and relationships with investment partners
- Assists in the underwriting process of real estate investments
- Liaises with investment partners and advisors
- Assists in presenting investment recommendations to the Real Estate Investment group
- Coordinates closing activities internally and externally
- Monitor existing Real Estate Investments:
- Participates in the monitoring and management of the investments, including representing CPPIB on shareholder and management committees, providing direction and advice to the asset/property manager and performing reviews of existing investments and partnerships
- Reviews capital commitments and distributions related to real estate investments
- Coordinate with Finance Operations with respect to monitoring ongoing investments
- Assists in building and leveraging relationships with company management teams
- Assists in monitoring potential exit alternatives (including asset sales, public market conditions, potential strategic partners, etc)
- Works directly with staff in other internal departments and other external service providers on various projects and assignments
- Provides direction and supervision to other staff in conducting financial due diligence, building financial models, drafting the investment committee memoranda, and executing a transaction
- Other relevant duties and projects as assigned
If you possess the following, we’d like to hear from you:
- Undergraduate degree plus at least 5 years of relevant real estate work experience or graduate degree with at least 3 years of direct investment experience in US real estate markets
- Academic degree or courses in real estate (or civil engineering or construction) and finance
- The ideal candidate will have a background that includes:
- Experience in the acquisition, asset and property management of Commercial and Multifamily properties (development experience a plus, though not required);
- Understanding of Multifamily properties and markets vis-a-vis demand-drivers and home-ownership conditions (i.e. affordability characteristics, rent-vs-own trade-offs, renter-income profiles, etc);
- Strong relationships with key professions in the US real estate and finance industries (i.e. developers, brokers, appraisers, lenders, 3rd party service-providers, etc.)
- Strong communication skills (oral, written, presentation); demonstrated strong interpersonal skills
- Displays a high degree of professionalism, with the ability to manage internal and external relationships
- Demonstrated financial background; general experience in real estate
- Extensive working knowledge of MS Office (Word, Excel, PowerPoint, etc.); in particular, ability to financial model with Excel (familiarity with Argus a ‘plus’ but not required)
- Strong quantitative, financial and analytical skills; experience compiling data and financial information; familiarity using computer models
- Flexibility, adaptability and initiative; are forward-thinking and a motivated self-starter
- Good judgement and sense of priorities
- Team player who enjoys a high performance culture; open to and comfortable with constantly evolving and changing priorities and new challenges
- Professionalism and high degree of integrity
- Conduct consistent with our Guiding Principles of Integrity, Partnership and High Performance
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At CPP Investment Board, we are committed to diversity and equitable access to employment opportunities based on ability.
We thank all applicants for their interest but will only contact candidates selected to advance in the hiring process.
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