Company

SomeraRoad is an opportunistic commercial real estate investment and development platform with headquarters in New York and Nashville, and additional offices in Austin, Indianapolis, Kansas City, and Tampa. Since inception over seven years ago, the firm has taken an entrepreneurial and opportunistic approach to commercial real estate across a wide spectrum of asset classes, geographies, investment products, and risk profiles. At its core, SomeraRoad aims to navigate complex structures, identify market dislocations, craft an asymmetric risk profile, and align its interest with its investors.

SomeraRoad invests in and develops CRE across a variety of product types (office, industrial, multifamily, retail, hotel, aviation infrastructure) in 50+ US geographies, and it has transacted on nearly $3B of investments, utilizing nearly $1B of equity during its history. The firm has evolved into a diversified, vertically integrated platform with a reputation for solving complex problems, becoming local experts, and aggressively executing its business plans.  

Position

SomeraRoad is seeking to hire an Associate in Austin, TX to support our Acquisitions, Development, and Asset Management teams. We are looking for a hungry, entrepreneurial ‘go-getter’, who is a smart, aggressive, personable, problem solver. A strong candidate must exhibit excellent technical skills and be confident in his or her ability to identify value-add opportunities. The new hire will work closely with senior management to asset manage, underwrite, and acquire assets and develop projects across all asset classes and geographies including; office, retail, student housing, multifamily, industrial, and hotels.

Responsibilities

Acquisitions:

·        Analyze and underwrite potential investment opportunities, including financial model creation and manipulation (Excel, Argus, etc.).

·        Develop asset-level business plans and value-add strategies.

·        Complete on-site and desktop due diligence, structure capitalization, and complete closing processes.

·        Draft investment and financing packages.

·        Compile, analyze, and present market data.

Development:

·        Work in collaboration with the Development and Construction team on each project and manage the pro-forma analysis as well the development budgets for each project.

·        Underwrite potential investment opportunities including development and oversight of financial models.

·        Work closely with the director on the procurement of equity and debt for development projects.

• Provide overall support to the Director in order to manage the broad aspects of project development, including feasibility, finance, zoning/land use, design, construction, and leasing.
• Assist in the leasing of certain properties, including design and implementation of marketing plans and lease negotiations
• Maintain comprehensive critical path schedules for development projects.
• Establish and maintain comprehensive project budgets in conjunction with the project team and track ongoing project financial performance.
• Support project equity and debt capitalization and activities. Oversee project funding and disbursement requirements in conjunction with project accountants

Asset Management:

·        Support firm’s capital market activities; including interfacing with mortgage brokers, investors, and other sources of both debt and equity

·        Manage third party property management and leasing management in the exaction of lease-up, construction, or alternative value-add strategy

·        Generate monthly transaction reports for distribution to company, its lenders and investment partners

·        Assist firm’s legal and tax counsels in coordination, negotiation, preparation, and review of all project related documents such as; loan documents, operating agreements, etc.

·        Monitor compliance for all loan agreements and all risk management matters including but not limited to; tracking all insurance requirements, guarantee requirements, at risk deposits and letters of credit

·        Coordinate treasury functions with accounting department for the company and its related various investment entities

Qualifications

·        Bachelor’s degree required (finance, real estate, economics, or other quantitative area of study preferred)

·        At least 3 to 5 years of commercial real estate or investment banking experience (experience in underwriting office, industrial residential, retail, and hospitality properties preferred).

·        Advanced proficiency in financial modeling and memorandum writing utilizing Microsoft Office (Excel, Word, PowerPoint) and Argus software

·        Strong entrepreneurial spirit

·        Excellent analytical skills, detail-oriented, highly organized

·        Team player with good interpersonal skills

·        Self-starter with a positive attitude and hard work ethic

·        Ability to multi-task in fast-paced environment