Asset & Wealth Management - Urban Investing Group, LIHTC and Real Estate Debt, Analyst, Dallas

Goldman Sachs Asset Management

Bringing together traditional and alternative investments, we provide clients around the world with a dedicated partnership and focus on long-term performance. As the firm’s primary investment area, we provide investment and advisory services for some of the world’s leading pension plans, sovereign wealth funds, insurance companies, endowments, foundations, financial advisors and individuals, for which we oversee more than $2 trillion in assets under supervision. Working in a culture that values integrity and transparency, you will be part of a diverse team that is passionate about our craft, our clients, and building sustainable success.

We are:

• Investors, spanning traditional and alternative markets offering products and services
• Advisors, understanding our clients’ priorities and poised to help provide investment advice and strategies that make sense for their portfolios
• Thought Leaders, providing timely insights across macro and secular themes to help inform our clients’ investment decisions
• Innovators, using our suite of digital solutions to help our clients address complex challenges and meet their financial goals

Urban Investment Group

Established in 2001, the Urban Investment Group (UIG) within Goldman Sachs Asset & Wealth Management makes tax credit equity investments, real estate investments and loans, and provides senior loan facilities in order to empower underserved communities and enable long-term equitable growth. UIG manages the investing and lending strategies for GS Bank USA’s Community Reinvestment Act requirements and the firm’s investments in Opportunity Zones and is a significant contributor to the firm’s One Million Black Women and 10,000 Small Businesses Initiatives. Real estate investments range from opportunistic ground-up development to core plus acquisitions of affordable and workforce housing portfolios. UIG has committed over $23 billion to create access to affordable housing, healthcare, education, and capital for low-income people and small businesses.

We are seeking an Analyst to join our Dallas team within Real Estate., focused on debt and Low-Income Housing Tax Credit (LIHTC) asset management.

Responsibilities:

• Support senior members of the asset management team to manage a portfolio of Debt, Letters of Credit and LIHTC investments that finance real estate developments including mixed-income and affordable housing, retail, office, industrial and charter school facilities.
• Support senior members of the team in operating, maximizing value and reporting on assets
• Key responsibilities include reviewing borrower and sponsor financial reporting, project budgets, construction progress and draw requests; monitoring loan covenants, completion, placed-in-service, lease-up and stabilization milestones; preparing periodic asset reporting; and maintaining relationships with borrowers, sponsors, LIHTC investors and syndicators, consultants and other third parties
• Prepare business plans, maintain internal asset performance models, oversight of oversee third-party service providers, capital plan oversight, business plan execution, and monitor project budgets, capital plans and execution against key debt and LIHTC milestones
• Evaluate amendments, waivers, consents, loan modifications, equity installment requests and other asset-management requests, and develop recommendations for internal approval and escalation processes
• Support execution of debt strategies to maximize value through effective loan asset management
• Develop asset strategy, including financial and asset performance data, in conjunction with AM leadership, investing personnel and operating partners
• Support execution of asset strategies to maximize value through market / product knowledge and value-add strategies
• Lead asset disposition efforts including:contract negotiation, writing investment committee memorandums, presenting to investment committee, finalizing disposition models, , transaction management and closing
• Support exits and monitor compliance, covenants, construction progress and tax-credit milestones on LIHTC equity and debt transactions; identify emerging risks and recommend appropriate asset-management actions
• Research/evaluate market trends, rental rates and occupancy trends to update investment assumptions within models
• Conduct in-depth market and portfolio analyses; understand industry trends
• Engage and provide oversight of third parties which perform the day-to-day operations of the assets, including, but not limited to operating partners and property management companies; conduct weekly / monthly calls and asset visits and coordinate with construction consultants and other project-level advisors, as applicable
• Work closely with internal stakeholders such as Finance, Compliance and Legal
• Maintain performance reports for internal tracking and reporting

Qualifications:

• Bachelor’s degree from a four-year college or university
• Strong academic background - finance, real estate, accounting or math background preferred
• At least 2-3 years of relevant experience in affordable housing, real estate lending, real estate investing or asset management, including direct experience with LIHTC transactions
• Strong financial analysis skills and advanced proficiency in Excel, including experience analyzing real estate development budgets, operating performance and complex capital structures
• Experience with construction lending, real estate credit or loan asset management strongly preferred
• Experience with affordable housing development and LIHTC project capital structures, including construction draws, borrower reporting, loan covenants and project-level risk monitoring, preferred
• Analytical / logical mindset and high attention to detail
• Strong written and verbal communication skills with the ability to present strategies and business decisions clearly and concisely, manage internal and external relationships
• Ability to work in a fast-paced, challenging environment; ability to prioritize
• Self-motivated with ability to work both autonomously and in a team setting
• Passion for helping to solve entrenched challenges facing underserved communities
• Desire to create positive change through double-bottom-line investments in real estate impact investing
• Interest in working collaboratively with the public sector, spanning municipal, state, and federal government, and navigating any resulting complexities

ABOUT GOLDMAN SACHS

At Goldman Sachs, we commit our people, capital and ideas to help our clients, shareholders and the communities we serve to grow. Founded in 1869, we are a leading global investment banking, securities and investment management firm. Headquartered in New York, we maintain offices around the world.

We believe who you are makes you better at what you do. We're committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally, from our training and development opportunities and firmwide networks to benefits, wellness and personal finance offerings and mindfulness programs. Learn more about our culture, benefits, and people at GS.com/careers.

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