Associate, Real Estate Equity

Over the last 20 years, Ares’ success has been driven by our people and our culture. Today, our team is guided by our core values – Collaborative, Responsible, Entrepreneurial, Self-Aware, Trustworthy – and our purpose to be a catalyst for shared prosperity and a better future. Through our recruitment, career development and employee-focused programming, we are committed to fostering a welcoming and inclusive work environment where high-performance talent of diverse backgrounds, experiences, and perspectives can build careers within this exciting and growing industry.

Job Description

Ares Real Estate Equity

Our real estate equity team, with over 200 investment professionals, has extensive real estate private equity experience in the U.S. and Europe. Our team primarily acquires standing assets and improves them through renovating, repositioning, and re-tenanting and selectively developing assets in supply-constrained markets. As of September 31, 2024, our real estate equity team managed approximately $37.8 billion of AUM in over 70 investment vehicles. Primary areas of focus for our real estate equity teams include:

Real Estate Core/Core-Plus: Our U.S. core/core-plus real estate strategy focuses on the acquisition of assets with strong long-term cash flow potential and durable tenancy diversified across end-user industries and geographies. We deploy capital across all major property types, with a strong focus on industrial and multifamily assets located in top-tier primary and regional distribution markets across the U.S.

Real Estate Value-Add: Our U.S. and European value-add real estate strategy focuses on undermanaged and underfunded income-producing assets across various property sectors in the U.S. and Europe. The strategy seeks to create value and generate stable and growing distributions to investors by buying properties at attractive valuations, implementing asset management initiatives to increase income, and identifying multiple exit strategies upfront.

Real Estate Opportunistic: Our U.S. and European opportunistic real estate strategy capitalizes on increased investor demand for developed and stabilized assets by focusing on the repositioning of assets, capitalization of distressed and special situations, and risk-mitigated developments across all major property types, as well as select and adjacent sectors, across the U.S. and Europe.

Position Summary

This position will be a key member of Ares’ real estate private equity team. The Associate will assist in assessing real estate investments (ranging from single properties to corporate transactions) for our diversified real estate investment funds, including the acquisition and development of, multifamily, hotel, office, retail, and adjacent property sectors throughout key markets in the United States.

The Associate will be primarily responsible for underwriting and financially analyzing each opportunity, as well as performing property and market due diligence and playing an active role in the asset management and sale of the Fund’s investments. We are seeking someone who understands the importance of the technical skills relative to underwriting and asset analysis but will also eventually be able to take a front seat in sourcing new deals and building/maintaining relationships within the real estate industry across various markets.

Essential Duties

• Create detailed and complex financial underwriting models for the acquisition and development of real estate investments, with an emphasis on value add and opportunistic deals
• Perform asset-level and market-level due diligence.
• Develop thorough understanding of a deal’s capital structure and business plan and key risks to performance through discussions with sponsors, market participants and investment professionals.
• Understand physical characteristics of properties, and the related competitive advantages and disadvantages.
• Understand and critically evaluate the existing and potential operating characteristics of a project (Revenue, expenses, capital expenditures, tenant credit, leases).
• Identify a project’s demand drivers; gather market information through independent field work and direct contact with brokers, appraisers, and developers. Synthesize information and draw a conclusion on future market rent, absorption, vacancy, and liquidity in the investment market.
• Critically assess the execution ability of the development team for a project.
• Communicate conclusions into a comprehensive narrative to be presented to senior management for consideration and approval. Participate in Underwriting and Investment Committee discussions.
• Participate in and provide support for the ongoing asset management of each investment, including financing and refinancing, major asset-level decisions, and the eventual sale of each property.
• Review legal documentation in concert with team and counsel throughout the negotiation process

Required Knowledge, Skills and Abilities

• Bachelor’s Degree or international equivalent in Business, Finance, Real Estate, or related field with exceptional academic credentials.
• 2-4 years of finance experience. Previous experience in real estate investment banking or real estate private equity, preferred.
• High level of expertise in Excel; ARGUS proficiency helpful but not required.
• Self-motivated and driven; ability to work effectively in a collegial, fast moving, demanding, and dynamic environment.
• Willingness and ability to travel required.
• Expertise in PowerPoint
• Creative problem solver.
• Excellent communication skills.
• Strong interpersonal skills.
• Attention to detail.
• Impeccable integrity and trustworthiness.

Reporting Relationships

Compensation

There is no set deadline to apply for this job opportunity. Applications will be accepted on an ongoing basis until the search is no longer active.

Salary : $155,000 - $175,000