What would this job pay? equity/development associate (job post included)
The job post is below. Just wondering what a salary range here would be?
Associate – Real Estate Development and Finance
Building and Land Technology (BLT) is a privately held, vertically integrated, mixed use real estate development, property management and private equity firm (www.bltoffice.com). BLT was founded in 1982 and has developed, owned and managed over five million square feet of commercial space and over 4,500 residential units. BLT office holdings include the corporate headquarters for Gen Re, GE Commercial Finance, Diageo, GE Real Estate, Xerox, GE Energy, Design Within Reach, Kayak Software, AON/Hewitt, Starwood Hotels and Resorts, and structured portfolio management. BLT’s numerous office parks, apartment complexes, single family subdivisions, common interest communities and adaptive reuse projects total in excess of 8,000,000 square feet of development throughout Fairfield County. BLT is also the developer of Harbor Point, a transformative mixed-use development in Stamford, CT. One of the largest redevelopments on the eastern seaboard, Harbor Point encompasses an entire neighborhood, with more than 4,000 residential units and several million square feet of commercial development. BLT’s holdings include more than 100 active real estate companies, a majority interest in William Pitt Sotheby’s residential brokerage firm with 28 offices and 1,100 agents, a mortgage and insurance company as well as numerous private equity investments.
BLT has an immediate need for an Associate to serve as a critical member of BLT’s real estate development and transaction team. The position will involve exposure to all facets of BLT’s vertically-integrated development platform.
Responsibilities
Provide financial modeling, deal underwriting and analysis, market research, transaction due diligence, and approval memoranda for acquisitions, restructurings, financings, and dispositions
Independently develop financial models, including property-level budgets, financial proformas, cash flow waterfalls, and sensitivity analyses for debt and equity investment opportunities
Prepare approval memos for submission to senior management with a comprehensive analysis of deal terms
Solicit and negotiate transaction term sheets
Review and negotiate transaction documents
Close loan, equity and tax credit transactions
Work with BLT’s vertically-integrated property development, construction, leasing, and management team on strategic management of BLT’s portfolio
Produce materials for monthly Asset Management reviews and investor reporting packages
Qualifications
Bachelor’s Degree required, MBA in Finance or Real Estate preferred
3-6 years of real estate transactions experience
Prior experience in overseeing legal teams and third party consultants
Experience in budgeting, financial analysis and portfolio review
Experience in working in a cross-functional group, project management and/or process improvement
Strong sense of urgency and ability to meet deadlines is a must
Expert experience with Microsoft Excel
$90k-$120k + bonus (20%+)
That's a tough position to fill. 3-6 years of transactional experience when substantial deal flow was off for like 4-5 years and has only been back for about 2 years.
I agree with RE_AM because they're asking for a master's degree, substantial transactional experience (at a time when most people are at 1-2 years or 7+ years), and previous oversight experience. They're asking for a lot. To get their perfect candidate they'll have to be in that range. I'm guessing they'll end up hiring a person with 6+ years of experience.
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