Debt Capital Markets Analyst

Position: Debt Capital Markets Analyst

Start Date: Immediate

Location: Philadelphia, PA

Company Description

Rubenstein Partners is the fund manager for a series of private equity funds focused on office investments throughout the United States.  The firm is vertically-integrated and provides first-class investment services on behalf of its investor base, which consists of some of the nation’s preeminent public and private pension funds, university endowments and family offices.  The firm is organizationally structured to achieve superior risk-adjusted results through investment and operational specialization, and therefore focuses on a single asset class (office), a single segment of the risk spectrum (value-added) and geography (United States).  The bulk of fund investments involve complicated office real estate transactions, including assets requiring major redevelopment, vacant lease-up and/or complex recapitalization.

Job Description

Rubenstein Partners is seeking a candidate to join the firm as Debt Capital Markets Analyst.  The Debt Capital Markets Analyst will work directly in conjunction with senior executives to contribute meaningfully across all aspects of the acquisition and asset management processes.  The Debt Capital Markets Analyst will help analyze and acquire real estate investments on behalf of the funds and play an integral role in the post-acquisition business plan execution.  Due to the firm’s entrepreneurial nature and growth trajectory, the Debt Capital Markets Analyst can expect to assume a great deal of responsibility and gain significant exposure to all facets of the real estate investment cycle, as well as senior management of the firm.  Primary responsibilities include:

• Work alongside Debt Capital Markets (DCM) team to produce internal analyses of financing options

   Serve as a key member of a three-person team

  • Work with the Director of DCM to oversee the firm’s $2.5B portfolio

  • Answer Investment and Asset Management teams’ questions regarding loan mechanics

  • Track loan maturity and extension criteria for existing portfolio

  • Analyze options for financing (at acquisition) or refinancing as appropriate

• Support senior team members during the loan marketing and closing process, including preparation of financial analyses, internal management updates, lender marketing materials, and assist in the lender communication and loan negotiation process

  • Meet with Investment and Asset Management teams to understand key needs at each property, as well as match business plans to existing loan provisions  

  • Work alongside Director of DCM to formulate proposals to lenders to meet any unaddressed needs

  • Draft internal memoranda to outline potential financing options, as well as recommendations for action

  • Create comparative financial analysis required for potential financing options

• Manage diligence process with potential lenders, acting as primary point of contact and liaison between lenders and Investment and Asset Management team members

• Provide closing support to the deal team, and create and maintain post-closing documentation

  • Work alongside Investment, Asset Management and Accounting teams internally, and lenders, counsel and third-party vendors externally to ensure appropriate flow of funds

  • Review loan documents for consistency with business plans, as well as firm-wide standards

• Coordinate with internal stakeholders to dissect loan documents, communicate key loan terms, and track ongoing performance for both internal and external use

  • Abstract key loan terms in a format for firm-wide consumption

  • Track and communicate performance milestones and key dates for each loan

  • Distill key covenants and reporting requirements for the Accounting team

  • Prepare analyses for key loan terms, e.g., release prices, minimum interest, fees, etc.

  • Present alongside the Director of DCM the abstract to the Investments, Asset Management and Accounting teams

  • Oversee team’s document retention program post-closing

• Assist with team efforts to maintain regular communication with the lending and mortgage brokerage community

  • Verify ongoing and periodic property-level covenants, e.g., DSCR and Debt Yield

  • Review periodic reporting packages to lenders

  • Present matters for lender approval, e.g., leases

  • Track draw requests for each loan

  • Participate in periodic update calls with lenders

  • Form and maintain relationships with brokers, and track comparative loan data

The candidate will directly interact with colleagues throughout the organization and therefore should have strong quantitative and analytical skills, be detail-oriented, articulate and well organized. The candidate must display initiative, good judgment in managing multiple tasks and strong problem-solving skills. The ability to think strategically and to present information in a clear and concise manner is critical.

Qualifications

• A minimum of 2-3 years of commercial real estate experience, with debt financing experience preferred.
• Excellent financial modeling skills including a high degree of proficiency with Excel and Argus.
• Experience in cash flow analysis / underwriting, financial reports and with commercial loans.
• Prior experience on the borrower/equity side, or lender experience, is preferred.
• Ability to communicate effectively across all functions and with senior management.
• Demonstrated academic success with a bachelor’s degree in areas such as finance, economics, accounting or other analytical/quantitative fields.
• Must have strong interpersonal skills to interact and collaborate with teammates and senior management.