About Fortress
Fortress Investment Group LLC is a leading, highly diversified global investment manager with approximately $48 billion of assets under management as of December 31, 2023. Founded in 1998, Fortress manages assets on behalf of approximately 1,900 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies. Investment performance is our cornerstone - we strive to generate strong risk adjusted returns for our investors over the long term. For additional information on Fortress, please visit www.fortress.com.
About The Position
Fortress Investment Group’s Dallas office has an opening for a Commercial Real Estate Associate focused on multifamily equity investments. The Real Estate Associate will support the team through all stages of the deal life cycle including acquisitions and asset management. The individual hired for this position will be focused on asset management of a discreet, value-add multifamily portfolio and provide support for new acquisitions across the capital stack. This person will additionally have exposure to real estate development and will interact with developers, equity partners, and industry professionals. Fortress promotes an open-door policy with a strong career track in all aspects of commercial real estate based on individual performance, offering significant growth and advancement opportunities. The ideal candidate should have effective communication skills, strong work ethic, and a desire to learn and assume additional roles.
Responsibilities
• Asset manage a portfolio of multifamily equity investments
• Assist in real estate underwriting and due diligence of new acquisitions of multifamily investments across the capital stack
• Cash flow modeling
• Create transaction analysis, summaries, and investment memorandums for recommendations to the Investment Committee
• Review weekly and monthly reporting packages and evaluate variances and trends in operating income and expenses
• Manipulate large quantities of property level data received from third parties
• Develop strong relationships and effective lines of communication with colleagues and third parties (including joint venture partners, property managers, leasing agents, brokers, attorneys, and loan servicers)
• Implement action steps and strategies to maximize the value of the assets
• Abstract and monitor legal documents such as operating agreements, loan documents, management and leasing agreements to ensure compliance
• Regularly perform site inspections of assigned investments
• Perform market data analysis
Qualifications
• An undergraduate degree in Accounting, Finance, or Commercial Real Estate (or other relevant degree, e.g. Economics, Mathematics, Engineering)
• 2-5 years of experience in commercial real estate on the equity side; including experience and expertise in analyzing rent rolls, leases, operating statements, budgets, reviewing loan documents, appraisals, environmental and engineering reports
• Excellent analytical skills, attention to detail and strong organizational skills
• Outstanding written and verbal communication skills
• Self-starter, able to work independently or in a team environment
• Demonstrated flexibility to handle multiple projects in a fast-paced, merit driven work environment
• Unquestionable integrity and ethics
• Strong proficiency in MS Office applications (especially Excel)
• Multifamily or student housing experience