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Finance / Investment


Real Estate Finance provides the fuel that keeps the industry running
The real estate finance field is extremely diverse and complex. Employers range from pension funds, insurance companies, and private-equity firms to commercial banks, private banks, and credit unions. Job titles range from investment banker to mortgage bankers and brokers as well as underwriters. Real estate financing is not just for home loans and home equity lines of credit. Major commercial loan business involves refinancing old loans, originating new construction loans, permanent financing on leased projects, and issuance of mezzanine debt and acquisition loans. Typical job functions in the field involve consulting potential borrowers and originating loans, servicing existing loans by making sure payments are being made and taxes and insurance are paid, securitizing pools of loans to be sold in the secondary MBS and CMBS markets, and much more. Loan underwriters evaluate deals to determine loan amounts, creditworthiness of borrowers, and income potential of projects. Lenders often specialize by residential or commercial focus, and further by product type including single family residential, multi-family, retail, office, industrial, and more. Lenders may also specialize by loan amount.

Analyst/Associate
The start of an exciting career path…

The Analyst or Associate role in real estate is often a broad term that can refer to the starting position upon graduation from a graduate real estate or MBA program. While Analyst tends to refer more to a post-undergraduate level position, an Analyst or Associate is often embedded within a specific function of real estate, such as Development, Asset Management, Acquisitions, and the like. For example, a post-graduate position may be titled "Asset Management Associate," "Asset Management and Acquisitions Associate," or similar nomenclature. Graduate-level analysts and associates are expected to have a broad-based academic training that can be applied to the specific roles at hand. Some key competencies include financial analysis, investor and board communication, transactional activities, maintaining and analyzing financial models, maintaining ownership of monthly, quarterly, and annual deliverables, market research, underwriting deals, entitlement due-diligence, assisting portfolio management, and so forth. Such roles are often the start to a career path within a company or entry to other career paths in real estate.

Role / Company Location Posted
Real Estate Finance & Asset Management - AnalystRW Selby & Company Los Angeles, CA Dec 14, 2018
Senior Financial Analyst/DirectorMarcus & Millichap Los Angeles, CA Dec 14, 2018
Associate - CreditSquare Mile Capital Management LLC New York, NY Dec 14, 2018
Investment Advisory - AnalystHolliday Fenoglio Fowler, L.P. Los Angeles, CA Dec 13, 2018
Investment Advisory - AnalystHolliday Fenoglio Fowler, L.P. San Francisco, CA Dec 13, 2018
Investor Relations ManagerPeopleSuite Greensboro, NC Dec 12, 2018
Financial AnalystGreenroad Capital New York, NY Dec 12, 2018
Senior Associate, North America Performance AnalyticsInvesco Dallas, TX Dec 11, 2018
Investment AnalystBuchanan Street Partners Newport Beach, CA Dec 11, 2018
Production AnalystGreystone & Co., Inc. New York, NY Dec 11, 2018



Looking to the future

The foundations of finance -- time value of money, income capitalization, discounted cash flow models -- and dexterity with the tools of analysis (financial modeling with spreadsheets) will always be a given in real estate finance. Future strategic advantage in real estate finance will accrue to those that stay abreast of capital market dynamics, including the changing sources of capital, regulatory impacts, and real estate's relative position within overall global financial markets. Investment vehicles are also in transition, whether it is a reconsideration of the traditional real estate private equity models or crowdfunding platforms, requiring that real estate finance adapt its analyses to fit investor preferences and practices.

 
Finance / Investment

Skills Required

  • Strong analytical skills
  • Strong Financial Modelling Skills
  • Proper Valuation and Underwriting Skills
  • Understanding of Capital Markets
  • Real Estate Market Analytics

Professional Reading and Resources


  • "Real Estate Finance & Investments" by William Brueggeman and Jeffrey Fisher
  • "The Wall Street Journal"
  • "Real Estate Economics"
  • "Affordable Housing Finance"
  • "Journal of Real Estate Finance and Economics"

Industry Qualifications


  • Bachelor’s Degree with concentration in finance, business, real estate (Minimum)
  • Master’s Degree in Finance or MBA preferred
  • CCIM: Certified Commercial Investment Member
  • CLO: Certified Loan Officer designated by MBAA
  • ARGUS certification

Top Companies


  • Wells Fargo
  • USAA Real Estate Company
  • HFF
  • Goldman Sachs
  • Pension Funds (eg. CALPERS)