Blackstone Real Estate – Senior Associate, Real Estate Debt Strategies (BREDS)

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram.
 

Business Unit: Blackstone Real Estate

Business Unit Overview:

Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $333 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, residential, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT), a U.S. non-listed REIT, and Blackstone’s European yield-oriented strategy. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT). 

Job Title: Blackstone Real Estate – Senior Associate, Real Estate Debt Strategies (BREDS)

Job Responsibilities:

• Participate in all aspects of Real Estate projects, partaking throughout the entire length of the typical cycle and in various assignments at once.
• Support the loan/financing stage, which involves financing Real Estate projects backed by one or several Blackstone properties in the United States.
• Correspond with participants (owners, operators, brokers) in the market to find opportunities, conduct initial screening and judge whether possible business ventures are actionable.
• Lead analysis and underwriting, helping to prepare all internal materials including investment committee memorandums and non-binding and binding counterparty negotiation documentation.
• Conduct extensive due diligence of all aspects of a transaction including business plans, market research, engineering and construction considerations, sponsors, financials and real estate fundamentals.
• Partake in closings, and subsequently, transferring of closed transactions to the asset management team, remaining conscious of all prior transactions worked on, and being decisive regarding actionable initiatives should events such as potential payoffs, refinancing, restructuring, or upsize arise.
• Manage junior employees to ensure a high standard of care in work produced, including reviewing employees’ excel models, PowerPoint presentations, basic due diligence, coordinating checklists, etc.
• Perform “on the job” training and reduce the learning curve for junior-level employees in a quick and efficient manner.
• Participate in wide range of U.S. real estate debt transactions, including new loan originations, term sheet negotiations and loan agreements, acquisitions of legacy loans, CMBS and other forms of public and private debt restructurings and recapitalizations.
• Perform financial and competitive analysis as well as modeling and market research.
• Develop investment committee presentations through Blackstone protocols and processes, and present deal team business ventures to relevant approvers by carrying out presentations, answering questions, and ensuring communication and assurance to stakeholders regarding projects worked on.
• Draft memoranda for internal and external use and facilitating communication, including drafting materials for financing transactions and participating in financing conversations to line up sources of debt capital.
• Attend multiple meetings per week that focus on driving new opportunities, creating new borrower relationships, executing and approving global deals, and attending various other internal meetings designed to enhance credit a