CBRE Group, Inc. in 2019 acquired Laxfield Capital, a real estate debt investment business with approximately GBP 818 million of assets under management in the United Kingdom.
Laxfield Capital operates as part of the EMEA platform of CBRE Global Investors, CBRE's real assets investment management business and is now called the CBRE Global Investors EMEA Credit Strategies Team.
This acquisition is an important step in CBRE Global Investors' strategy of offering clients an expanded array of real assets investment solutions in leading markets across the globe.
We are looking for a Senior Associate to work in the Investments team within CBRE Global Investors' Debt Investments business. The team is responsible for making new loans secured on properties in the UK. It manages an existing fund with c.£1bn of total lending capacity which makes loans in sizes of £10-150m. The wider business strategy is to raise new funds for deployment into loans secured on properties in the UK and Europe, over time the successful candidate will be expected to work across a number of different lending strategies and geographies. The ideal candidate will have the following attributes: - 5 years' commercial real estate lending experience at a debt fund / top-tier alternative lender / banking organisation. - Strong applicants with experience of direct real estate investment (rather than lending) will also be considered. - Applicants with transactional experience in the primary CRE sectors (office, industrial and retail) as well as alternative (student accommodation, leisure, PRS, data centres etc) are preferred. - Experience of value-add / development lending or investing is preferred but not essential. - Strong analytical skills with an ability to review investment opportunities and make informed lending decisions. - Ability to quickly undertake desk-based research to assist in the screening and underwriting of new opportunities. - Fluency with key real estate metrics (initial, reversionary and equivalent yields, capital values, gross to net leakage) and financial mathematics (primarily NPV and IRR) and the interaction between them in real estate investment and lending. - Working knowledge of UK real estate lending practices and LMA documentation preferred. - Strong Excel financial modelling skills and wider IT capability is a pre-requisite. - Exceptional written English - capable of writing high quality internal reports and Investment Committee papers in a concise and professional manner. - An ability to concisely present / summarise new opportunities to the team. - Extremely high attention to detail is a must. - Strong sense of responsibility, and an ability to judge where it is necessary to seek guidance or take decisions. - - The successful candidate will be working within a team which requires high standards and good attention to detail
Key Responsibilities: - Liaising with potential borrowers and brokers in relation to new lending opportunities, with support from senior team members as required. - Assessment of new lending opportunities to determine viability, which will often involve financial modelling and interpretation of market data to inform investment decisions. Lead presentation of findings to senior team members. - Preparation of detailed internal memos and Investment Committee papers. - Preparation of detailed term sheets and similar borrower documentation. - Leading execution of new loans in conjunction with external legal counsel. - Leading due diligence reviews (e.g. valuation, building survey etc.) in relation to new loans. - Conducting sectoral / thematic research to inform new investment theses. - Monitoring and tracking of market activity. - Handover of new loans to the Loan Management team, with some ongoing input into loan management matters likely to be required for all closed transactions. - Assisting with reporting to investor clients (i.e. capital providers). - Support senior team members' new deal origination efforts.
The interview process will include a written, numerical and excel modelling test?