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Annaly

Commercial Real Estate Originations Analyst - Los Angeles

Salary
Competitive
Employment
Full Time
Real Estate Field
  • Acquisitions
Location
Los Angeles
 CA
Postal Code
90067
Country
United States

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Description


Company Overview

 

Annaly Capital Management, Inc. (“Annaly”) is a leading diversified capital manager that invests in and finances residential and commercial assets. Annaly's principal business objective is to generate net income for distribution to its stockholders and to preserve capital through prudent selection of investments and continuous management of its portfolio. With approximately $133.0 billion in assets, our portfolio includes securities, loans and equity in both the residential and commercial markets. Annaly has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes.

 

Annaly is a vehicle for long-term asset ownership. We use our capital, coupled with various structured financing products to invest in assets in both commercial and residential markets, earning the spread between the yield on our investments and the cost of our borrowings and hedging activities.

 

Diversification is a pillar of the Annaly strategy. Since 2010 we have diversified our business model by investing in credit assets directly on balance sheet, complementing our portfolio of interest rate sensitive investments. This strategy is designed to achieve durable risk-adjusted returns over various interest rate and economic cycles by pairing shorter floating-rate credit securities with our longer, fixed-rate agency portfolio. The diversification strategy reaches beyond simply our investment in credit sectors. Within each discipline we have diversified our investments to produce balanced cash-flows and leverage profiles. Our breadth of investment options and robust capital allocation process combined with careful risk management enables us to take advantage of market inefficiencies and rotate into credit markets when dislocations occur and pricing is attractive on a risk-adjusted, relative value basis.

 

We believe the foundation of this success is our intellectual capital – our talented and capable employees.  With a nimble team of under 200 employees, Annaly seeks and values professionals who are innovative, experienced, driven and dynamic.  If you are interested in learning more about the Company, please visit

 

Role Summary/Purpose

 

Analyst for the Annaly Commercial Real Estate Group which invests in a variety of real estate-related assets across both industry (multi-family, office, industrial, hospitality, retail, senior housing) and product type (first mortgages, mezzanine debt, B-Notes, CMBS, preferred equity and real property). The Analyst will work in two to three person deal teams, and must be able to both work well within a team and be comfortable operating with limited direction. Day-to-day responsibilities for this role will include managing deal flow and broker/borrower relationships, diligence, modeling and writing of investment memos for prospective investments, assisting deal closings, comparative analysis, monitoring existing positions and preparing portfolio level information for senior management.

 

Essential Responsibilities

 

  • The Analyst’s primary responsibility will include sizing/underwriting of potential debt and equity opportunities in a timely and accurate manner

  • Perform market research in support of potential investment opportunities using a variety of sources including CoStar, RCA, Compstak, and other sources

  • Compose actionable credit memos within timeframes necessary to complete deals

  • Prioritize and manage large and very active pipeline of investment opportunities across all major property types and in all positions of the capital structure

  • Assist underwriting, legal/closing, and asset management teams in all stages of the deal process through and including asset management

 

Qualifications/Requirements

 

Basic Qualifications:

  • 1 to 3 years of experience with a respected financial firm (investment bank, commercial bank, hedge fund, debt fund, private equity, etc. Prior internship and related experience will be considered)

  • Proficiency in the Microsoft Office suite of products – Excel, PowerPoint, Word

  • Above average analytical and critical thinking skills

  • Strong written and communication skills

  • Ability to work both (i) within a team and (ii) autonomously with limited direction

  • Ability to problem solve and think creatively when faced with new subject material

  • Strong work ethic and self-motivated

  • Bachelor’s degree, Master’s Degree

 

Desired Characteristics:

  • Ability to analyze and understand business plans and to determine the likelihood of projections and to make data based adjustments as necessary

  • Ability to understand and model in place and proforma cash flows with limited assistance, including determining cash.flow drivers such as in place leasing, market forces, appropriate capex, etc.

  • Ability to find appropriate comparable data, including sales, rent, vacancy, absorption, leasing, and other relevant data. Ability to fully use resources available including CoStar, RCA, Compstak, and other sources

  • Understanding of complex loan and equity structure and the ability to analyze and propose appropriate structure on a deal by deal basis

  • Thorough knowledge of Argus DCF and Argus Enterprise including the ability to understand and modify broker generated models. Requires understanding of Argus input methods and various conceptual treatments of growth, vacancy, etc.

  • Ability to create and modify complex excel models to determine cash.flows, returns, and to organize data

  • Ability to compose actionable credit memos within timeframes necessary to complete deals. Focus on analysis, professional, aesthetically pleasing, accessible presentation, accuracy, and thoughtfulness

  • Detailed knowledge of all major property types including multifamily, office, retail, hospitality, industrial, as well experience with other property types including self-storage, medical office, condo conversions, land, flex, etc.

 

Eligibility Requirements

 

  • Must be willing to work in Los Angeles, CA, role is based in LA

  • Must be willing to submit to a background investigation

  • Must have unrestricted work authorization to work in the United States

  • Must be willing to work additional hours as needed to complete deadline driven projects

  • Must have valid Driver’s License and reasonable means of transportation (Travel will be required)

Job Function


Not specified

 

Job Sector


Not specified

 

Experience


1+ to 2 years


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