What are the responsibilities and job description for the Associate, Direct Originations position at Kayne Anderson Capital Advisors?
About Kayne Anderson:
Kayne Anderson Real Estate is a leading real estate investment firm, managing approximately $17 billion in assets (as of 1/1/2025) across opportunistic equity, core equity, and real estate debt, with sector expertise in medical office, seniors housing, off-campus student housing, multifamily housing, and self-storage. Kayne Anderson Real Estate is part of Kayne Anderson, a $37 billion alternative investment management firm with more than 40 years of experience in the real estate, credit, infrastructure, and energy sectors.
With more than 110 professionals, Kayne Anderson Real Estate has consistently demonstrated its ability to bring more to an opportunity than equity capital, enhancing a project’s overall performance and quality by incorporating best practices and effective alternatives in the design, construction, documentation, financing, and operation of investments. The firm’s entrepreneurial spirit and resilient culture, combined with a reputation for quick response, firm commitment, and timely execution, has solidified Kayne Anderson Real Estate’s reputation and resulted in strong relationships with developers, owners, operators, financing sources, and other intermediaries.
Position Overview:
The Associate will be a key member of Kayne Anderson’s Direct Originations team, which operates a multi-billion-dollar real estate debt investment platform. The team focuses on originating and structuring debt investments across multifamily, seniors housing, student housing, medical office, self-storage, and specialty industrial assets. The platform provides capital solutions throughout the capital stack, including first mortgage loans, mezzanine loans, and preferred equity investments.
The Associate will play an integral role in originating, underwriting, structuring, and managing debt investments, working closely with Directors, Vice Presidents, and other senior investment professionals. Responsibilities will include evaluating new investment opportunities, performing due diligence, managing portfolio investments, preparing deal presentation materials, and supporting complex transactions.
General Position Responsibilities:
Investment Underwriting & Origination
- Underwrite and structure new loan originations, including bridge loans, mezzanine debt, and preferred equity investments, with a goal of optimizing risk-adjusted returns.
- Conduct detailed property-level and market-level analyses, evaluating asset quality, supply/demand fundamentals, and macroeconomic trends affecting investment performance.
- Build and maintain complex financial models, including cash flow projections, scenario analyses, loan sizing, and stress testing to assess downside risks.
- Evaluate sponsorship strength and creditworthiness, analyzing historical financials, track records, and strategic objectives of borrowers.
- Assess collateral values using various valuation methods, including DCF modeling, cap rate analysis, and comparable transactions.
- Structure loan terms, covenants, recourse provisions, interest reserves, and cash management mechanisms to mitigate risk and enhance lender protections.
- Prepare and present investment committee memoranda, including a clear risk assessment, comprehensive underwriting, return analysis, and deal structuring recommendations.
- Conduct due diligence, coordinating third-party reports (appraisals, environmental, engineering), legal reviews, and borrower financial audits.
- Analyze loan documents and term sheets, ensuring alignment with underwriting assumptions and deal objectives.
Qualifications & Experience:
- 2-5 years of experience in commercial real estate finance, lending, private credit, or structured finance.
- Strong financial modeling and analytical skills, with proficiency in Excel (ARGUS is a plus).
- Deep understanding of real estate fundamentals, debt structuring, and credit risk assessment.
- Experience with senior loans, bridge debt, preferred investments, mezzanine loans across existing assets and development projects.
- Excellent written and verbal communication skills, with the ability to present complex financial analysis.
- Strong work ethic, ability to manage multiple projects, and a high level of attention to detail.
- Team player mentality with an ability and desire to mentor and train junior team members
- Competitive medical, dental, and vision insurance
- Flexible spending accounts (dependent care, healthcare, limited purpose FSA)
- Accident and Critical Illness insurance
- Long Term Disability insurance
- Competitive 401(k) benefits
- Pet healthcare savings program
- Member’s Only Healthcare - healthcare navigation
- WellHub - corporate wellness platform
- $10,000 lifetime reimbursement for family forming services (e.g. IVF, adoption, surrogacy)
- Rocket Lawyer legal benefits
- Reimbursement of professional society memberships and exam fees
- Up to $10,000 matching annually for contributions to qualified non-for-profit organizations
- Parental leave
Employment with the company is contingent on the applicant being able to provide proof of eligibility to work in the United States at the time of hire.
Equal opportunity employer. All aspects of employment including the decision to hire, promote, discipline, or discharge, will be based on merit, competence, performance, and business needs. We do not discriminate on the basis of race, color, religion, marital status, age, national origin, physical or mental disability, medical condition, pregnancy, genetic information, gender, sexual orientation, gender identity or expression, veteran status, or any other status protected under federal, state, or local law.
Salary : $10,000
